INEW: 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.
INEW
Largest movements
- Cash -€84,311
down €84,311 (-35.4%), from €237,857 to €153,546
mainly Net result for the year (-€39,021) and Receivables within one year (-€32,982)
- Receivables within one year +€32,982
up €32,982 (+70.0%), from €47,095 to €80,077
of which Trade receivables: +€32,982
- Tangible fixed assets -€13,652
down €13,652 (-15.6%), from €87,298 to €73,646
of which Land and buildings: -€10,352
- Profit (loss) carried forward -€39,021
down €39,021 (-112.2%), from -€34,789 to -€73,810
- Debts after one year -€20,986
down €20,986 (-21.4%), from €98,261 to €77,275
- Trade debts -€7,790
down €7,790 (-20.5%), from €38,013 to €30,223
- Other debts +€5,342
up €5,342 (+3.3%), from €161,489 to €166,830
- Financial charges +€65,708
up €65,708 (+122.4%), from €53,699 to €119,407
- Staff costs -€23,361
down €23,361 (-27.0%), from €86,493 to €63,132
- Depreciation -€5,441
down €5,441 (-18.8%), from €28,951 to €23,510
- Gross operating margin +€4,344
up €4,344 (+2.6%), from €168,203 to €172,547
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.
Cash bridge derived
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 | €377,697 | €312,848 | -€64,848 | -17.2% |
| Fixed assets | 21/28 | €87,298 | €73,896 | -€13,402 | -15.4% |
| Tangible fixed assets | 22/27 | €87,298 | €73,646 | -€13,652 | -15.6% |
| Land and buildings | 22 | €81,181 | €70,829 | -€10,352 | -12.8% |
| Plant, machinery and equipment | 23 | €1,546 | €967 | -€579 | -37.4% |
| Furniture and vehicles | 24 | €4,571 | €1,850 | -€2,721 | -59.5% |
| Financial fixed assets | 28 | - | €250 | +€250 | |
| Current assets | 29/58 | €290,399 | €238,952 | -€51,446 | -17.7% |
| Amounts receivable within one year | 40/41 | €47,095 | €80,077 | +€32,982 | +70.0% |
| Trade receivables | 40 | €22,461 | €55,443 | +€32,982 | +146.8% |
| Other amounts receivable | 41 | €24,634 | €24,634 | = | 0.0% |
| Current investments | 50/53 | €2,250 | €2,250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €237,857 | €153,546 | -€84,311 | -35.4% |
| Deferred charges and accrued income | 490/1 | €3,197 | €3,080 | -€117 | -3.7% |
| Total equity and liabilities | 10/49 | €377,697 | €312,848 | -€64,848 | -17.2% |
| Equity | 10/15 | €36,684 | -€2,337 | -€39,021 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €65,273 | €65,273 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,209 | €19,209 | = | 0.0% |
| Distributable reserves | 133 | €44,204 | €44,204 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,789 | -€73,810 | -€39,021 | -112.2% |
| Amounts payable | 17/49 | €341,012 | €315,186 | -€25,827 | -7.6% |
| Amounts payable after more than one year | 17 | €98,261 | €77,275 | -€20,986 | -21.4% |
| Financial debts | 170/4 | €98,261 | €77,275 | -€20,986 | -21.4% |
| Amounts payable within one year | 42/48 | €242,751 | €237,910 | -€4,841 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €20,052 | €20,986 | +€934 | +4.7% |
| Trade debts | 44 | €38,013 | €30,223 | -€7,790 | -20.5% |
| Suppliers | 440/4 | €38,013 | €30,223 | -€7,790 | -20.5% |
| Taxes, remuneration and social security | 45 | €23,198 | €19,871 | -€3,327 | -14.3% |
| Taxes | 450/3 | €14,233 | €12,723 | -€1,510 | -10.6% |
| Remuneration and social security | 454/9 | €8,965 | €7,148 | -€1,817 | -20.3% |
| Other amounts payable | 47/48 | €161,489 | €166,830 | +€5,342 | +3.3% |
| Remuneration, social security and pensions | 62 | €86,493 | €63,132 | -€23,361 | -27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,951 | €23,510 | -€5,441 | -18.8% |
| Other operating charges | 640/8 | €4,886 | €5,378 | +€492 | +10.1% |
| Gross operating margin | 9900 | €168,203 | €172,547 | +€4,344 | +2.6% |
| Operating profit (loss) | 9901 | €47,873 | €80,527 | +€32,654 | +68.2% |
| Financial income | 75/76B | €1,120 | €407 | -€714 | -63.7% |
| Recurring financial income | 75 | €1,120 | €407 | -€714 | -63.7% |
| Financial charges | 65/66B | €53,699 | €119,407 | +€65,708 | +122.4% |
| Recurring financial charges | 65 | €53,699 | €119,407 | +€65,708 | +122.4% |
| Profit (loss) for the period before taxes | 9903 | -€4,706 | -€38,473 | -€33,767 | -717.5% |
| Income taxes | 67/77 | €1,107 | €548 | -€559 | -50.5% |
| Profit (loss) for the period | 9904 | -€5,813 | -€39,021 | -€33,209 | -571.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,813 | -€39,021 | -€33,209 | -571.3% |
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 9 October 2026 via checked.be.