Inex: what changed
What changed
Inex
NACE 10.510, Manufacture of food products
filed annual accounts (NBB)
Net result for the year
€19.3m
2024 · €17.4m+€1.9m
Equity
€113.5m
2024 · €94.2m+€19.3m
Cash
€8.7m
2024 · €12.1m-€3.4m
Balance sheet total
€155.5m
2024 · €147.2m+€8.4m
Largest movements
Assets
- Current investments +€12.0m
up €12.0m (+38.9%), from €30.8m to €42.8m
- Cash -€3.4m
down €3.4m (-28.3%), from €12.1m to €8.7m
mainly Current investments (-€12.0m) and Other debts (-€9.4m)
Equity and liabilities
- Profit (loss) carried forward +€18.3m
up €18.3m (+36.4%), from €50.4m to €68.8m
- Other debts -€9.4m
down €9.4m (-71.0%), from €13.2m to €3.8m
- Trade debts -€1.9m
down €1.9m (-5.7%), from €33.2m to €31.3m
Income statement
- Turnover +€35.2m
up €35.2m (+11.2%), from €315.9m to €351.1m
- Goods and materials +€24.5m
up €24.5m (+10.9%), from €224.5m to €249.0m
of which Purchases: +€24.6m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€17.4m
Turnover
+€35.2m
Other operating income
-€107,494
Goods and materials
-€24.5m
Services and other goods
-€1.0m
Staff costs
-€1.5m
Depreciation
-€805,460
Write-downs
-€112,486
Provisions
-€10,186
Other operating charges
+€58,442
Other operating items
-€4.7m
Financial income
-€228,753
Financial charges
+€30,680
Taxes
-€419,287
Result 2025
€19.3m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€14.7m
Investment
-€18.1m
Financing
-€29,516
Cash 2024
€12.1m
From operations (derived)
+€14.7m
Net result for the year
+€19.3m
Depreciation
+€4.6m
Stocks and contracts
+€574,748
Receivables within one year
+€1.2m
Smaller working-capital items
-€49,866
Trade debts
-€1.9m
Tax, wage and social debts
+€63,032
Other debts
-€9.4m
Accrued charges and deferred income
+€316,865
Investment (derived)
-€18.1m
Investment in fixed assets (net)
-€6.1m
Current investments
-€12.0m
Financing
-€29,516
Contributions, distributions and other
-€29,516
Cash 2025
€8.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €147,154,456 | €155,511,768 | +€8.4m | +5.7% |
| Fixed assets | 21/28 | €29,592,144 | €31,096,340 | +€1.5m | +5.1% |
| Intangible fixed assets | 21 | €56,337 | €7,771 | -€48,566 | -86.2% |
| Tangible fixed assets | 22/27 | €26,064,872 | €27,427,448 | +€1.4m | +5.2% |
| Land and buildings | 22 | €1 | €1 | = | 0.0% |
| Plant, machinery and equipment | 23 | €23,105,880 | €22,905,581 | -€200,299 | -0.9% |
| Furniture and vehicles | 24 | €1,386,946 | €1,272,045 | -€114,901 | -8.3% |
| Other tangible fixed assets | 26 | €167,058 | €144,953 | -€22,106 | -13.2% |
| Assets under construction and advance payments | 27 | €1,404,987 | €3,104,868 | +€1.7m | +121% |
| Financial fixed assets | 28 | €3,470,935 | €3,661,121 | +€190,186 | +5.5% |
| Affiliated companies | 280/1 | €3,382,272 | €3,382,272 | = | 0.0% |
| Participating interests | 280 | €3,382,272 | €3,382,272 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €24,789 | €24,789 | = | 0.0% |
| Participating interests | 282 | €24,789 | €24,789 | = | 0.0% |
| Other financial fixed assets | 284/8 | €63,873 | €254,060 | +€190,186 | +298% |
| Amounts receivable and cash guarantees | 285/8 | €63,873 | €254,060 | +€190,186 | +298% |
| Current assets | 29/58 | €117,562,311 | €124,415,429 | +€6.9m | +5.8% |
| Stocks and contracts in progress | 3 | €23,885,246 | €23,310,499 | -€574,748 | -2.4% |
| Stocks | 30/36 | €23,885,246 | €23,310,499 | -€574,748 | -2.4% |
| Raw materials and consumables | 30/31 | €8,238,716 | €8,784,794 | +€546,078 | +6.6% |
| Work in progress | 32 | €18,086 | €78,781 | +€60,695 | +336% |
| Finished goods | 33 | €15,133,301 | €14,021,577 | -€1.1m | -7.3% |
| Goods purchased for resale | 34 | €495,143 | €425,347 | -€69,796 | -14.1% |
| Amounts receivable within one year | 40/41 | €49,925,707 | €48,743,278 | -€1.2m | -2.4% |
| Trade receivables | 40 | €30,768,957 | €28,953,537 | -€1.8m | -5.9% |
| Other amounts receivable | 41 | €19,156,750 | €19,789,741 | +€632,991 | +3.3% |
| Current investments | 50/53 | €30,831,383 | €42,832,180 | +€12.0m | +38.9% |
| Other investments | 51/53 | €30,831,383 | €42,832,180 | +€12.0m | +38.9% |
| Cash at bank and in hand | 54/58 | €12,068,784 | €8,656,233 | -€3.4m | -28.3% |
| Deferred charges and accrued income | 490/1 | €851,191 | €873,239 | +€22,047 | +2.6% |
| Total equity and liabilities | 10/49 | €147,154,456 | €155,511,768 | +€8.4m | +5.7% |
| Equity | 10/15 | €94,245,452 | €113,515,067 | +€19.3m | +20.4% |
| Contributions | 10/11 | €2,392,108 | €2,392,108 | = | 0.0% |
| Capital | 10 | €2,392,108 | €2,392,108 | = | 0.0% |
| Issued capital | 100 | €2,392,108 | €2,392,108 | = | 0.0% |
| Reserves | 13 | €41,304,240 | €42,255,220 | +€950,979 | +2.3% |
| Non-distributable reserves | 130/1 | €315,086 | €315,086 | = | 0.0% |
| Legal reserve | 130 | €239,339 | €239,339 | = | 0.0% |
| Other | 1319 | €75,747 | €75,747 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,313,222 | €4,251,874 | -€1.1m | -20.0% |
| Distributable reserves | 133 | €35,675,932 | €37,688,260 | +€2.0m | +5.6% |
| Profit (loss) carried forward | 14 | €50,421,049 | €68,769,201 | +€18.3m | +36.4% |
| Investment grants | 15 | €128,054 | €98,538 | -€29,516 | -23.0% |
| Provisions and deferred taxes | 16 | €192,452 | €164,634 | -€27,818 | -14.5% |
| Provisions for liabilities and charges | 160/5 | €48,105 | €49,780 | +€1,675 | +3.5% |
| Pensions and similar obligations | 160 | €48,105 | €49,780 | +€1,675 | +3.5% |
| Deferred taxes | 168 | €144,347 | €114,854 | -€29,493 | -20.4% |
| Amounts payable | 17/49 | €52,716,551 | €41,832,067 | -€10.9m | -20.6% |
| Amounts payable within one year | 42/48 | €52,503,830 | €41,302,481 | -€11.2m | -21.3% |
| Trade debts | 44 | €33,183,911 | €31,276,610 | -€1.9m | -5.7% |
| Suppliers | 440/4 | €33,183,911 | €31,276,610 | -€1.9m | -5.7% |
| Taxes, remuneration and social security | 45 | €6,142,895 | €6,205,927 | +€63,032 | +1.0% |
| Taxes | 450/3 | €76,466 | €90,689 | +€14,222 | +18.6% |
| Remuneration and social security | 454/9 | €6,066,429 | €6,115,238 | +€48,809 | +0.8% |
| Other amounts payable | 47/48 | €13,177,024 | €3,819,944 | -€9.4m | -71.0% |
| Accrued charges and deferred income | 492/3 | €212,721 | €529,587 | +€316,865 | +149% |
| Operating income | 70/76A | €322,759,892 | €353,049,328 | +€30.3m | +9.4% |
| Turnover | 70 | €315,861,660 | €351,084,750 | +€35.2m | +11.2% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €3,676,105 | -€1,099,312 | -€4.8m | |
| Other operating income | 74 | €3,099,442 | €2,991,947 | -€107,494 | -3.5% |
| Non-recurring operating income | 76A | €122,684 | €71,941 | -€50,743 | -41.4% |
| Operating charges | 60/66A | €304,096,383 | €331,852,466 | +€27.8m | +9.1% |
| Goods for resale, raw materials and consumables | 60 | €224,485,195 | €249,027,208 | +€24.5m | +10.9% |
| Purchases | 600/8 | €224,980,358 | €249,551,772 | +€24.6m | +10.9% |
| Change in stocks: decrease (increase) | 609 | -€495,163 | -€524,564 | -€29,400 | -5.9% |
| Services and other goods | 61 | €45,383,421 | €46,411,949 | +€1.0m | +2.3% |
| Remuneration, social security and pensions | 62 | €30,047,751 | €31,521,139 | +€1.5m | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,745,685 | €4,551,145 | +€805,460 | +21.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€33,108 | €79,378 | +€112,486 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€8,511 | €1,675 | +€10,186 | |
| Other operating charges | 640/8 | €318,083 | €259,641 | -€58,442 | -18.4% |
| Non-recurring operating charges | 66A | €157,866 | €332 | -€157,534 | -99.8% |
| Operating profit (loss) | 9901 | €18,663,509 | €21,196,861 | +€2.5m | +13.6% |
| Financial income | 75/76B | €2,726,948 | €2,498,195 | -€228,753 | -8.4% |
| Recurring financial income | 75 | €2,726,948 | €2,498,195 | -€228,753 | -8.4% |
| Income from current assets | 751 | €1,735,568 | €1,280,023 | -€455,545 | -26.2% |
| Other financial income | 752/9 | €991,380 | €1,218,172 | +€226,792 | +22.9% |
| Financial charges | 65/66B | €139,244 | €108,564 | -€30,680 | -22.0% |
| Recurring financial charges | 65 | €139,239 | €108,564 | -€30,675 | -22.0% |
| Other financial charges | 652/9 | €139,239 | €108,564 | -€30,675 | -22.0% |
| Non-recurring financial charges | 66B | €5 | - | -€5 | |
| Profit (loss) for the period before taxes | 9903 | €21,251,214 | €23,586,493 | +€2.3m | +11.0% |
| Transfer from deferred taxes | 780 | €29,493 | €29,493 | = | 0.0% |
| Income taxes | 67/77 | €3,897,568 | €4,316,854 | +€419,287 | +10.8% |
| Taxes | 670/3 | €3,897,568 | €4,316,854 | +€419,287 | +10.8% |
| Profit (loss) for the period | 9904 | €17,383,139 | €19,299,131 | +€1.9m | +11.0% |
| Transfer from tax-exempt reserves | 789 | €1,625,541 | €2,059,118 | +€433,577 | +26.7% |
| Transfer to tax-exempt reserves | 689 | €997,770 | €997,770 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,010,909 | €20,360,479 | +€2.3m | +13.0% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.