INERMA: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
INERMA
Largest movements
- Tangible fixed assets -€14,415
down €14,415 (-4.6%), from €313,601 to €299,186
- Debts after one year -€10,496
down €10,496 (-4.6%), from €229,650 to €219,154
- Reserves -€3,844
down €3,844 (-5.5%), from €70,479 to €66,635
- Gross operating margin +€1,623
up €1,623 (+14.9%), from €10,893 to €12,516
- Other operating charges +€836
up €836 (+19.4%), from €4,315 to €5,151
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €319,501 | €306,527 | -€12,974 | -4.1% |
| Fixed assets | 21/28 | €313,601 | €299,186 | -€14,415 | -4.6% |
| Tangible fixed assets | 22/27 | €313,601 | €299,186 | -€14,415 | -4.6% |
| Land and buildings | 22 | €313,601 | €299,186 | -€14,415 | -4.6% |
| Current assets | 29/58 | €5,900 | €7,341 | +€1,441 | +24.4% |
| Cash at bank and in hand | 54/58 | €2,293 | €2,976 | +€683 | +29.8% |
| Deferred charges and accrued income | 490/1 | €3,607 | €4,365 | +€758 | +21.0% |
| Total equity and liabilities | 10/49 | €319,501 | €306,527 | -€12,974 | -4.1% |
| Equity | 10/15 | €44,955 | €39,885 | -€5,070 | -11.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €70,479 | €66,635 | -€3,844 | -5.5% |
| Tax-exempt reserves | 132 | €70,479 | €66,635 | -€3,844 | -5.5% |
| Profit (loss) carried forward | 14 | -€87,024 | -€88,250 | -€1,226 | -1.4% |
| Provisions and deferred taxes | 16 | €36,291 | €34,311 | -€1,980 | -5.5% |
| Deferred taxes | 168 | €36,291 | €34,311 | -€1,980 | -5.5% |
| Amounts payable | 17/49 | €238,255 | €232,331 | -€5,924 | -2.5% |
| Amounts payable after more than one year | 17 | €229,650 | €219,154 | -€10,496 | -4.6% |
| Other amounts payable | 178/9 | €229,650 | €219,154 | -€10,496 | -4.6% |
| Amounts payable within one year | 42/48 | €8,605 | €13,177 | +€4,572 | +53.1% |
| Trade debts | 44 | - | €2,249 | +€2,249 | |
| Suppliers | 440/4 | - | €2,249 | +€2,249 | |
| Other amounts payable | 47/48 | €8,605 | €10,928 | +€2,323 | +27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,415 | €14,415 | = | 0.0% |
| Other operating charges | 640/8 | €4,315 | €5,151 | +€836 | +19.4% |
| Gross operating margin | 9900 | €10,893 | €12,516 | +€1,623 | +14.9% |
| Operating profit (loss) | 9901 | -€7,837 | -€7,050 | +€787 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,837 | -€7,050 | +€787 | +10.0% |
| Transfer from deferred taxes | 780 | €1,980 | €1,980 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€5,857 | -€5,070 | +€787 | +13.4% |
| Transfer from tax-exempt reserves | 789 | €3,844 | €3,844 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,013 | -€1,226 | +€787 | +39.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.