INIZIO: what changed
Two fiscal 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.
What changed
INIZIO
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€147,753
2024 · €151,088-€3,334
Equity
€2.2m
2024 · €2.0m+€147,753
Cash
€30,690
2024 · €30,975-€286
Balance sheet total
€3.3m
2024 · €3.4m-€47,782
Largest movements
Assets
- Receivables within one year -€51,116
down €51,116 (-100.0%), from €51,116 to €0
Equity and liabilities
- Debts after one year -€349,248
down €349,248 (-42.0%), from €831,771 to €482,523
- Reserves +€147,753
up €147,753 (+12.5%), from €1.2m to €1.3m
- Other debts +€141,322
up €141,322 (+93.0%), from €151,980 to €293,302
Income statement
- Gross operating margin -€12,719
down €12,719 (-5.4%), from €234,273 to €221,554
- Financial charges -€7,948
down €7,948 (-27.0%), from €29,421 to €21,472
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.
Result 2024
€151,088
Gross operating margin
-€12,719
Depreciation
-€574
Other operating charges
+€265
Financial charges
+€7,948
Taxes
+€1,746
Result 2025
€147,753
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.
From operations
+€342,572
Investment
-€6,653
Financing
-€336,205
Cash 2024
€30,975
From operations (derived)
+€342,572
Net result for the year
+€147,753
Depreciation
+€2,391
Receivables within one year
+€51,116
Deferred charges and accrued income
+€641
Trade debts
-€3,179
Tax, wage and social debts
+€2,528
Other debts
+€141,322
Investment (derived)
-€6,653
Investment in fixed assets (net)
-€6,653
Financing
-€336,205
Debts after one year
-€349,248
Current portion of long-term debt
+€13,043
Cash 2025
€30,690
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,395,329 | €3,347,547 | -€47,782 | -1.4% |
| Fixed assets | 21/28 | €3,306,901 | €3,311,162 | +€4,261 | +0.1% |
| Tangible fixed assets | 22/27 | €6,901 | €11,162 | +€4,261 | +61.8% |
| Plant, machinery and equipment | 23 | €2,340 | €4,865 | +€2,526 | +108.0% |
| Furniture and vehicles | 24 | €4,561 | €6,297 | +€1,736 | +38.1% |
| Financial fixed assets | 28 | €3,300,000 | €3,300,000 | = | 0.0% |
| Current assets | 29/58 | €88,428 | €36,385 | -€52,043 | -58.9% |
| Amounts receivable within one year | 40/41 | €51,116 | €0 | -€51,116 | -100.0% |
| Other amounts receivable | 41 | €51,116 | €0 | -€51,116 | -100.0% |
| Cash at bank and in hand | 54/58 | €30,975 | €30,690 | -€286 | -0.9% |
| Deferred charges and accrued income | 490/1 | €6,336 | €5,695 | -€641 | -10.1% |
| Total equity and liabilities | 10/49 | €3,395,329 | €3,347,547 | -€47,782 | -1.4% |
| Equity | 10/15 | €2,030,303 | €2,178,056 | +€147,753 | +7.3% |
| Contributions | 10/11 | €850,000 | €850,000 | = | 0.0% |
| Reserves | 13 | €1,180,303 | €1,328,056 | +€147,753 | +12.5% |
| Distributable reserves | 133 | €1,180,303 | €1,328,056 | +€147,753 | +12.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,365,025 | €1,169,491 | -€195,535 | -14.3% |
| Amounts payable after more than one year | 17 | €831,771 | €482,523 | -€349,248 | -42.0% |
| Financial debts | 170/4 | €831,771 | €482,523 | -€349,248 | -42.0% |
| Amounts payable within one year | 42/48 | €533,254 | €686,968 | +€153,713 | +28.8% |
| Current portion of amounts payable after more than one year | 42 | €357,161 | €370,205 | +€13,043 | +3.7% |
| Trade debts | 44 | €5,532 | €2,353 | -€3,179 | -57.5% |
| Suppliers | 440/4 | €5,532 | €2,353 | -€3,179 | -57.5% |
| Taxes, remuneration and social security | 45 | €18,581 | €21,109 | +€2,528 | +13.6% |
| Taxes | 450/3 | €18,581 | €21,109 | +€2,528 | +13.6% |
| Other amounts payable | 47/48 | €151,980 | €293,302 | +€141,322 | +93.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,817 | €2,391 | +€574 | +31.6% |
| Other operating charges | 640/8 | €2,902 | €2,637 | -€265 | -9.1% |
| Gross operating margin | 9900 | €234,273 | €221,554 | -€12,719 | -5.4% |
| Operating profit (loss) | 9901 | €229,555 | €216,526 | -€13,029 | -5.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €29,421 | €21,472 | -€7,948 | -27.0% |
| Recurring financial charges | 65 | €29,421 | €21,472 | -€7,948 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | €200,134 | €195,054 | -€5,080 | -2.5% |
| Income taxes | 67/77 | €49,046 | €47,300 | -€1,746 | -3.6% |
| Profit (loss) for the period | 9904 | €151,088 | €147,753 | -€3,334 | -2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €151,088 | €147,753 | -€3,334 | -2.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.