INITIANTIS: 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.
INITIANTIS
Largest movements
- Cash +€27,072
up €27,072 (+52.2%), from €51,820 to €78,891
mainly Net result for the year (+€33,972) and Deferred charges and accrued income (+€3,345)
- Receivables within one year +€4,929
up €4,929 (+41.9%), from €11,776 to €16,704
of which Trade receivables: +€6,429
- Deferred charges and accrued income -€3,345
down €3,345 (-69.7%), from €4,797 to €1,452
- Tangible fixed assets +€1,210
up €1,210 (+73.0%), from €1,658 to €2,869
of which Plant, machinery and equipment: +€2,148
- Profit (loss) carried forward +€33,972
up €33,972 (+71.3%), from €47,646 to €81,618
- Tax, wage and social debts -€2,959
down €2,959 (-20.4%), from €14,523 to €11,564
- Gross operating margin +€4,489
up €4,489 (+10.3%), from €43,413 to €47,903
- Taxes +€813
up €813 (+9.7%), from €8,390 to €9,203
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 | €70,050 | €99,916 | +€29,866 | +42.6% |
| Fixed assets | 21/28 | €1,658 | €2,869 | +€1,210 | +73.0% |
| Tangible fixed assets | 22/27 | €1,658 | €2,869 | +€1,210 | +73.0% |
| Plant, machinery and equipment | 23 | - | €2,148 | +€2,148 | |
| Furniture and vehicles | 24 | €1,658 | €721 | -€937 | -56.5% |
| Current assets | 29/58 | €68,392 | €97,048 | +€28,656 | +41.9% |
| Amounts receivable within one year | 40/41 | €11,776 | €16,704 | +€4,929 | +41.9% |
| Trade receivables | 40 | €10,276 | €16,704 | +€6,429 | +62.6% |
| Other amounts receivable | 41 | €1,500 | - | -€1,500 | |
| Cash at bank and in hand | 54/58 | €51,820 | €78,891 | +€27,072 | +52.2% |
| Deferred charges and accrued income | 490/1 | €4,797 | €1,452 | -€3,345 | -69.7% |
| Total equity and liabilities | 10/49 | €70,050 | €99,916 | +€29,866 | +42.6% |
| Equity | 10/15 | €52,646 | €86,618 | +€33,972 | +64.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,646 | €81,618 | +€33,972 | +71.3% |
| Amounts payable | 17/49 | €17,404 | €13,298 | -€4,106 | -23.6% |
| Amounts payable within one year | 42/48 | €17,404 | €13,298 | -€4,106 | -23.6% |
| Trade debts | 44 | €2,160 | €1,480 | -€679 | -31.5% |
| Suppliers | 440/4 | €2,160 | €1,480 | -€679 | -31.5% |
| Taxes, remuneration and social security | 45 | €14,523 | €11,564 | -€2,959 | -20.4% |
| Taxes | 450/3 | €14,523 | €11,564 | -€2,959 | -20.4% |
| Other amounts payable | 47/48 | €721 | €253 | -€468 | -64.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €791 | €1,040 | +€249 | +31.5% |
| Other operating charges | 640/8 | €447 | €251 | -€196 | -43.8% |
| Gross operating margin | 9900 | €43,413 | €47,903 | +€4,489 | +10.3% |
| Operating profit (loss) | 9901 | €42,176 | €46,612 | +€4,436 | +10.5% |
| Financial income | 75/76B | €9 | - | -€9 | |
| Recurring financial income | 75 | €9 | - | -€9 | |
| Financial charges | 65/66B | €3,234 | €3,436 | +€202 | +6.2% |
| Recurring financial charges | 65 | €3,234 | €3,436 | +€202 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €38,951 | €43,175 | +€4,225 | +10.8% |
| Income taxes | 67/77 | €8,390 | €9,203 | +€813 | +9.7% |
| Profit (loss) for the period | 9904 | €30,561 | €33,972 | +€3,411 | +11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,561 | €33,972 | +€3,411 | +11.2% |
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 13 October 2026 via checked.be.