INJAS: 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.
INJAS
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+42.2%), from €2.7m to €3.8m
- Current investments -€70,000
down €70,000 (-100.0%), from €70,000 to €0
- Debts after one year +€752,643
up €752,643 (+60.9%), from €1.2m to €2.0m
- Current portion of long-term debt +€158,976
up €158,976 (+110.0%), from €144,558 to €303,534
- Reserves +€123,539
up €123,539 (+10.3%), from €1.2m to €1.3m
of which Distributable reserves: +€123,539
- Depreciation +€12,458
up €12,458 (+24.4%), from €51,121 to €63,579
- Taxes -€8,436
down €8,436 (-18.7%), from €45,004 to €36,568
- Gross operating margin -€5,399
down €5,399 (-1.7%), from €315,283 to €309,884
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 | €2,845,206 | €3,900,224 | +€1.1m | +37.1% |
| Fixed assets | 21/28 | €2,676,056 | €3,806,027 | +€1.1m | +42.2% |
| Tangible fixed assets | 22/27 | €2,676,056 | €3,806,027 | +€1.1m | +42.2% |
| Land and buildings | 22 | €2,676,056 | €3,806,027 | +€1.1m | +42.2% |
| Current assets | 29/58 | €169,150 | €94,196 | -€74,953 | -44.3% |
| Amounts receivable within one year | 40/41 | €36,824 | €10,421 | -€26,404 | -71.7% |
| Trade receivables | 40 | €36,373 | €0 | -€36,373 | -100.0% |
| Other amounts receivable | 41 | €452 | €10,421 | +€9,969 | +2206.1% |
| Current investments | 50/53 | €70,000 | €0 | -€70,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €60,905 | €83,776 | +€22,871 | +37.6% |
| Deferred charges and accrued income | 490/1 | €1,421 | €0 | -€1,421 | -100.0% |
| Total equity and liabilities | 10/49 | €2,845,206 | €3,900,224 | +€1.1m | +37.1% |
| Equity | 10/15 | €1,427,231 | €1,550,771 | +€123,539 | +8.7% |
| Contributions | 10/11 | €202,000 | €202,000 | = | 0.0% |
| Revaluation surpluses | 12 | €21,743 | €21,743 | = | 0.0% |
| Reserves | 13 | €1,203,488 | €1,327,027 | +€123,539 | +10.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,203,488 | €1,327,027 | +€123,539 | +10.3% |
| Amounts payable | 17/49 | €1,417,975 | €2,349,453 | +€931,478 | +65.7% |
| Amounts payable after more than one year | 17 | €1,236,495 | €1,989,138 | +€752,643 | +60.9% |
| Financial debts | 170/4 | €1,236,495 | €1,989,138 | +€752,643 | +60.9% |
| Amounts payable within one year | 42/48 | €158,966 | €332,121 | +€173,155 | +108.9% |
| Current portion of amounts payable after more than one year | 42 | €144,558 | €303,534 | +€158,976 | +110.0% |
| Trade debts | 44 | €7,540 | €20,890 | +€13,351 | +177.1% |
| Suppliers | 440/4 | €7,540 | €20,890 | +€13,351 | +177.1% |
| Taxes, remuneration and social security | 45 | €6,869 | €7,697 | +€828 | +12.1% |
| Taxes | 450/3 | €6,869 | €7,697 | +€828 | +12.1% |
| Accrued charges and deferred income | 492/3 | €22,514 | €28,194 | +€5,680 | +25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,121 | €63,579 | +€12,458 | +24.4% |
| Other operating charges | 640/8 | €22,995 | €23,625 | +€630 | +2.7% |
| Gross operating margin | 9900 | €315,283 | €309,884 | -€5,399 | -1.7% |
| Operating profit (loss) | 9901 | €241,168 | €222,681 | -€18,487 | -7.7% |
| Financial income | 75/76B | €88 | €716 | +€628 | +711.7% |
| Recurring financial income | 75 | €88 | €716 | +€628 | +711.7% |
| Financial charges | 65/66B | €63,544 | €63,290 | -€254 | -0.4% |
| Recurring financial charges | 65 | €63,544 | €63,290 | -€254 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €177,712 | €160,107 | -€17,605 | -9.9% |
| Income taxes | 67/77 | €45,004 | €36,568 | -€8,436 | -18.7% |
| Profit (loss) for the period | 9904 | €132,708 | €123,539 | -€9,168 | -6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €132,708 | €123,539 | -€9,168 | -6.9% |
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.