INJECTIS: what changed
INJECTIS
Largest movements
- Cash -€124,322
down €124,322 (-16.8%), from €741,400 to €617,078
mainly Investment in fixed assets (net) (-€351,734) and Other debts (-€167,860)
- Receivables within one year -€118,580
down €118,580 (-42.2%), from €280,725 to €162,146
of which Trade receivables: -€92,648
- Stocks and contracts +€108,400
up €108,400 (+247%), from €43,897 to €152,297
of which Contracts in progress: +€109,855
- Tangible fixed assets +€84,637
up €84,637 (+11.7%), from €724,371 to €809,008
of which Plant, machinery and equipment: +€144,243
- Deferred charges and accrued income +€24,984
up €24,984 (+494%), from €5,053 to €30,037
- Reserves +€284,497
up €284,497 (+46.7%), from €609,152 to €893,649
of which Distributable reserves: +€284,497
- Other debts -€167,860
down €167,860 (-44.2%), from €380,150 to €212,290
- Advances received -€80,355
no longer reported in 2025 (was €80,355)
- Short-term financial debts -€70,886
no longer reported in 2025 (was €70,886)
- Current portion of long-term debt +€49,145
up €49,145 (+35.9%), from €137,034 to €186,179
- Depreciation +€89,125
up €89,125 (+52.9%), from €168,601 to €257,726
- Financial charges +€21,450
up €21,450 (+159%), from €13,488 to €34,938
- Taxes -€19,757
down €19,757 (-20.5%), from €96,403 to €76,646
- Gross operating margin +€8,151
up €8,151 (+1.3%), from €648,900 to €657,051
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,804,783 | €1,789,274 | -€15,510 | -0.9% |
| Fixed assets | 21/28 | €733,708 | €827,716 | +€94,008 | +12.8% |
| Intangible fixed assets | 21 | €4,663 | €1,284 | -€3,379 | -72.5% |
| Tangible fixed assets | 22/27 | €724,371 | €809,008 | +€84,637 | +11.7% |
| Plant, machinery and equipment | 23 | €404,639 | €548,882 | +€144,243 | +35.6% |
| Furniture and vehicles | 24 | €319,732 | €260,126 | -€59,606 | -18.6% |
| Financial fixed assets | 28 | €4,674 | €17,424 | +€12,750 | +273% |
| Current assets | 29/58 | €1,071,075 | €961,558 | -€109,518 | -10.2% |
| Stocks and contracts in progress | 3 | €43,897 | €152,297 | +€108,400 | +247% |
| Stocks | 30/36 | €43,897 | €42,442 | -€1,455 | -3.3% |
| Contracts in progress | 37 | - | €109,855 | +€109,855 | |
| Amounts receivable within one year | 40/41 | €280,725 | €162,146 | -€118,580 | -42.2% |
| Trade receivables | 40 | €225,000 | €132,352 | -€92,648 | -41.2% |
| Other amounts receivable | 41 | €55,725 | €29,793 | -€25,932 | -46.5% |
| Cash at bank and in hand | 54/58 | €741,400 | €617,078 | -€124,322 | -16.8% |
| Deferred charges and accrued income | 490/1 | €5,053 | €30,037 | +€24,984 | +494% |
| Total equity and liabilities | 10/49 | €1,804,783 | €1,789,274 | -€15,510 | -0.9% |
| Equity | 10/15 | €670,652 | €955,149 | +€284,497 | +42.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €609,152 | €893,649 | +€284,497 | +46.7% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,048 | €15,048 | = | 0.0% |
| Distributable reserves | 133 | €587,954 | €872,451 | +€284,497 | +48.4% |
| Amounts payable | 17/49 | €1,134,132 | €834,125 | -€300,007 | -26.5% |
| Amounts payable after more than one year | 17 | €299,802 | €282,683 | -€17,118 | -5.7% |
| Financial debts | 170/4 | €299,802 | €282,683 | -€17,118 | -5.7% |
| Amounts payable within one year | 42/48 | €828,724 | €532,611 | -€296,113 | -35.7% |
| Current portion of amounts payable after more than one year | 42 | €137,034 | €186,179 | +€49,145 | +35.9% |
| Financial debts | 43 | €70,886 | - | -€70,886 | |
| Credit institutions | 430/8 | €70,886 | - | -€70,886 | |
| Trade debts | 44 | €156,073 | €129,715 | -€26,359 | -16.9% |
| Suppliers | 440/4 | €156,073 | €129,715 | -€26,359 | -16.9% |
| Advances received on contracts in progress | 46 | €80,355 | - | -€80,355 | |
| Taxes, remuneration and social security | 45 | €4,227 | €4,428 | +€201 | +4.7% |
| Taxes | 450/3 | €4,227 | €4,428 | +€201 | +4.7% |
| Other amounts payable | 47/48 | €380,150 | €212,290 | -€167,860 | -44.2% |
| Accrued charges and deferred income | 492/3 | €5,606 | €18,830 | +€13,224 | +236% |
| Non-recurring operating income | 76A | €8,000 | - | -€8,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €168,601 | €257,726 | +€89,125 | +52.9% |
| Other operating charges | 640/8 | €8,986 | €5,810 | -€3,176 | -35.3% |
| Gross operating margin | 9900 | €648,900 | €657,051 | +€8,151 | +1.3% |
| Operating profit (loss) | 9901 | €471,312 | €393,514 | -€77,798 | -16.5% |
| Financial income | 75/76B | €346 | €2,566 | +€2,220 | +642% |
| Recurring financial income | 75 | €346 | €2,566 | +€2,220 | +642% |
| Financial charges | 65/66B | €13,488 | €34,938 | +€21,450 | +159% |
| Recurring financial charges | 65 | €13,488 | €34,938 | +€21,450 | +159% |
| Profit (loss) for the period before taxes | 9903 | €458,170 | €361,143 | -€97,027 | -21.2% |
| Income taxes | 67/77 | €96,403 | €76,646 | -€19,757 | -20.5% |
| Profit (loss) for the period | 9904 | €361,767 | €284,497 | -€77,270 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €361,767 | €284,497 | -€77,270 | -21.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.