Inizio-U: 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.
Inizio-U
Largest movements
- Cash +€102,992
up €102,992 (+19.4%), from €531,858 to €634,850
mainly Net result for the year (+€81,815) and Tax, wage and social debts (+€39,114)
- Receivables within one year -€15,071
no longer reported in 2025 (was €15,071)
of which Trade receivables: -€15,000
- Reserves +€81,815
up €81,815 (+21.5%), from €381,304 to €463,119
of which Distributable reserves: +€83,690
- Profit (loss) carried forward -€60,000
down €60,000 (-42.5%), from €141,210 to €81,210
- Tax, wage and social debts +€39,114
up €39,114 (+284%), from €13,771 to €52,885
- Other debts +€23,046
new in 2025: €23,046
- Gross operating margin -€10,917
down €10,917 (-7.5%), from €145,254 to €134,337
- Other operating charges -€2,635
down €2,635 (-61.7%), from €4,272 to €1,636
- Taxes -€1,830
down €1,830 (-3.8%), from €48,012 to €46,182
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 | €555,980 | €640,446 | +€84,466 | +15.2% |
| Fixed assets | 21/28 | €7,682 | €5,596 | -€2,086 | -27.2% |
| Tangible fixed assets | 22/27 | €6,677 | €4,591 | -€2,086 | -31.2% |
| Plant, machinery and equipment | 23 | €6,677 | €4,591 | -€2,086 | -31.2% |
| Financial fixed assets | 28 | €1,005 | €1,005 | = | 0.0% |
| Current assets | 29/58 | €548,298 | €634,850 | +€86,552 | +15.8% |
| Amounts receivable within one year | 40/41 | €15,071 | - | -€15,071 | |
| Trade receivables | 40 | €15,000 | - | -€15,000 | |
| Other amounts receivable | 41 | €71 | - | -€71 | |
| Cash at bank and in hand | 54/58 | €531,858 | €634,850 | +€102,992 | +19.4% |
| Deferred charges and accrued income | 490/1 | €1,369 | - | -€1,369 | |
| Total equity and liabilities | 10/49 | €555,980 | €640,446 | +€84,466 | +15.2% |
| Equity | 10/15 | €541,264 | €563,079 | +€21,815 | +4.0% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €381,304 | €463,119 | +€81,815 | +21.5% |
| Non-distributable reserves | 130/1 | €1,875 | - | -€1,875 | |
| Reserves not available under the articles | 1311 | €1,875 | - | -€1,875 | |
| Tax-exempt reserves | 132 | €16,350 | €16,350 | = | 0.0% |
| Distributable reserves | 133 | €363,079 | €446,769 | +€83,690 | +23.1% |
| Profit (loss) carried forward | 14 | €141,210 | €81,210 | -€60,000 | -42.5% |
| Amounts payable | 17/49 | €14,716 | €77,367 | +€62,651 | +426% |
| Amounts payable within one year | 42/48 | €13,771 | €77,367 | +€63,596 | +462% |
| Trade debts | 44 | - | €1,436 | +€1,436 | |
| Suppliers | 440/4 | - | €1,436 | +€1,436 | |
| Taxes, remuneration and social security | 45 | €13,771 | €52,885 | +€39,114 | +284% |
| Taxes | 450/3 | €13,771 | €52,885 | +€39,114 | +284% |
| Other amounts payable | 47/48 | - | €23,046 | +€23,046 | |
| Accrued charges and deferred income | 492/3 | €945 | - | -€945 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,840 | €2,086 | +€245 | +13.3% |
| Other operating charges | 640/8 | €4,272 | €1,636 | -€2,635 | -61.7% |
| Gross operating margin | 9900 | €145,254 | €134,337 | -€10,917 | -7.5% |
| Operating profit (loss) | 9901 | €139,141 | €130,615 | -€8,527 | -6.1% |
| Financial income | 75/76B | €848 | €58 | -€790 | -93.2% |
| Recurring financial income | 75 | €848 | €58 | -€790 | -93.2% |
| Financial charges | 65/66B | €2,193 | €2,676 | +€483 | +22.0% |
| Recurring financial charges | 65 | €2,193 | €2,676 | +€483 | +22.0% |
| Profit (loss) for the period before taxes | 9903 | €137,796 | €127,997 | -€9,800 | -7.1% |
| Income taxes | 67/77 | €48,012 | €46,182 | -€1,830 | -3.8% |
| Profit (loss) for the period | 9904 | €89,785 | €81,815 | -€7,970 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €89,785 | €81,815 | -€7,970 | -8.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.