INJECO: 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.
INJECO
Largest movements
- Receivables within one year -€86,591
down €86,591 (-48.2%), from €179,757 to €93,165
of which Trade receivables: -€52,573
- Cash +€69,096
up €69,096 (+32.9%), from €210,268 to €279,363
mainly Net result for the year (+€114,726) and Receivables within one year (+€86,591)
- Tangible fixed assets +€21,099
up €21,099 (+26.4%), from €80,029 to €101,128
of which Furniture and vehicles: +€17,854
- Stocks and contracts +€7,659
up €7,659 (+49.3%), from €15,529 to €23,189
- Reserves +€114,726
up €114,726 (+6,171%), from €1,859 to €116,585
of which Distributable reserves: +€116,585
- Profit (loss) carried forward -€100,000
down €100,000 (-61.4%), from €162,878 to €62,878
- Other debts +€42,713
up €42,713 (+27.6%), from €154,657 to €197,370
- Current portion of long-term debt -€37,622
down €37,622 (-81.9%), from €45,918 to €8,296
- Trade debts +€8,946
up €8,946 (+41.6%), from €21,516 to €30,462
- Gross operating margin -€66,402
down €66,402 (-10.9%), from €607,152 to €540,750
- Staff costs -€30,004
down €30,004 (-8.1%), from €372,145 to €342,140
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 | €493,272 | €507,415 | +€14,143 | +2.9% |
| Fixed assets | 21/28 | €80,029 | €101,128 | +€21,099 | +26.4% |
| Tangible fixed assets | 22/27 | €80,029 | €101,128 | +€21,099 | +26.4% |
| Land and buildings | 22 | €41,703 | €39,605 | -€2,098 | -5.0% |
| Plant, machinery and equipment | 23 | €3,237 | €6,234 | +€2,997 | +92.6% |
| Furniture and vehicles | 24 | €35,088 | €52,942 | +€17,854 | +50.9% |
| Other tangible fixed assets | 26 | - | €2,347 | +€2,347 | |
| Current assets | 29/58 | €413,243 | €406,288 | -€6,956 | -1.7% |
| Stocks and contracts in progress | 3 | €15,529 | €23,189 | +€7,659 | +49.3% |
| Stocks | 30/36 | €15,529 | €23,189 | +€7,659 | +49.3% |
| Amounts receivable within one year | 40/41 | €179,757 | €93,165 | -€86,591 | -48.2% |
| Trade receivables | 40 | €130,832 | €78,259 | -€52,573 | -40.2% |
| Other amounts receivable | 41 | €48,925 | €14,907 | -€34,018 | -69.5% |
| Cash at bank and in hand | 54/58 | €210,268 | €279,363 | +€69,096 | +32.9% |
| Deferred charges and accrued income | 490/1 | €7,690 | €10,570 | +€2,880 | +37.5% |
| Total equity and liabilities | 10/49 | €493,272 | €507,415 | +€14,143 | +2.9% |
| Equity | 10/15 | €183,329 | €198,055 | +€14,726 | +8.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €116,585 | +€114,726 | +6,171% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | - | €116,585 | +€116,585 | |
| Profit (loss) carried forward | 14 | €162,878 | €62,878 | -€100,000 | -61.4% |
| Provisions and deferred taxes | 16 | €6,137 | €6,137 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €6,137 | €6,137 | = | 0.0% |
| Other liabilities and charges | 164/5 | €6,137 | €6,137 | = | 0.0% |
| Amounts payable | 17/49 | €303,806 | €303,223 | -€583 | -0.2% |
| Amounts payable after more than one year | 17 | €21,753 | €13,457 | -€8,296 | -38.1% |
| Financial debts | 170/4 | €21,753 | €13,457 | -€8,296 | -38.1% |
| Amounts payable within one year | 42/48 | €282,053 | €289,332 | +€7,279 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €45,918 | €8,296 | -€37,622 | -81.9% |
| Trade debts | 44 | €21,516 | €30,462 | +€8,946 | +41.6% |
| Suppliers | 440/4 | €21,516 | €30,462 | +€8,946 | +41.6% |
| Taxes, remuneration and social security | 45 | €59,961 | €53,203 | -€6,758 | -11.3% |
| Taxes | 450/3 | €32,406 | €32,192 | -€214 | -0.7% |
| Remuneration and social security | 454/9 | €27,555 | €21,011 | -€6,544 | -23.7% |
| Other amounts payable | 47/48 | €154,657 | €197,370 | +€42,713 | +27.6% |
| Accrued charges and deferred income | 492/3 | - | €433 | +€433 | |
| Remuneration, social security and pensions | 62 | €372,145 | €342,140 | -€30,004 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,186 | €14,644 | -€4,543 | -23.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €425 | - | -€425 | |
| Other operating charges | 640/8 | €8,025 | €9,993 | +€1,968 | +24.5% |
| Gross operating margin | 9900 | €607,152 | €540,750 | -€66,402 | -10.9% |
| Operating profit (loss) | 9901 | €207,372 | €173,973 | -€33,399 | -16.1% |
| Financial income | 75/76B | €290 | €80 | -€211 | -72.6% |
| Recurring financial income | 75 | €290 | €80 | -€211 | -72.6% |
| Financial charges | 65/66B | €1,306 | €2,531 | +€1,225 | +93.8% |
| Recurring financial charges | 65 | €1,306 | €2,531 | +€1,225 | +93.8% |
| Profit (loss) for the period before taxes | 9903 | €206,356 | €171,521 | -€34,835 | -16.9% |
| Income taxes | 67/77 | €57,406 | €56,795 | -€611 | -1.1% |
| Profit (loss) for the period | 9904 | €148,950 | €114,726 | -€34,223 | -23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €148,950 | €114,726 | -€34,223 | -23.0% |
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 27 October 2026 via checked.be.