INJO-INVEST: 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.
What changed
INJO-INVEST
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€82,438
2024 · €56,313+€26,124
Equity
€2.0m
2024 · €1.9m+€82,438
Cash
€45,896
2024 · €51,239-€5,343
Balance sheet total
€2.0m
2024 · €2.0m+€69,167
Largest movements
Assets
- Receivables after one year +€75,000
new in 2025: €75,000
Equity and liabilities
- Reserves +€88,249
up €88,249 (+6.2%), from €1.4m to €1.5m
of which Distributable reserves: +€100,000
Income statement
- Gross operating margin +€22,170
up €22,170 (+10.2%), from €217,947 to €240,117
- Financial income +€13,876
up €13,876 (+1,280%), from €1,084 to €14,960
- Depreciation +€3,662
up €3,662 (+3.0%), from €121,210 to €124,873
- Financial charges +€3,037
up €3,037 (+1,823%), from €167 to €3,204
- Taxes +€2,826
up €2,826 (+12.6%), from €22,346 to €25,172
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
€56,313
Gross operating margin
+€22,170
Depreciation
-€3,662
Other operating charges
-€738
Financial income
+€13,876
Financial charges
-€3,037
Taxes
-€2,826
Deferred taxes and other
+€342
Result 2025
€82,438
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€113,969
Investment
-€119,312
Financing
€0
Cash 2024
€51,239
From operations (derived)
+€113,969
Net result for the year
+€82,438
Depreciation
+€124,873
Receivables after one year
-€75,000
Receivables within one year
-€4,008
Deferred charges and accrued income
-€1,063
Provisions
-€3,917
Trade debts
+€1,287
Other debts
-€12,083
Accrued charges and deferred income
+€1,443
Investment (derived)
-€119,312
Investment in fixed assets (net)
-€127,363
Current investments
+€8,051
Cash 2025
€45,896
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,963,817 | €2,032,984 | +€69,167 | +3.5% |
| Fixed assets | 21/28 | €1,479,613 | €1,482,103 | +€2,490 | +0.2% |
| Tangible fixed assets | 22/27 | €1,479,363 | €1,481,547 | +€2,184 | +0.1% |
| Land and buildings | 22 | €1,479,363 | €1,481,547 | +€2,184 | +0.1% |
| Financial fixed assets | 28 | €250 | €556 | +€306 | +123% |
| Current assets | 29/58 | €484,204 | €550,881 | +€66,677 | +13.8% |
| Amounts receivable after more than one year | 29 | - | €75,000 | +€75,000 | |
| Other amounts receivable | 291 | - | €75,000 | +€75,000 | |
| Amounts receivable within one year | 40/41 | €2,965 | €6,973 | +€4,008 | +135% |
| Other amounts receivable | 41 | €2,965 | €6,973 | +€4,008 | +135% |
| Current investments | 50/53 | €430,000 | €421,949 | -€8,051 | -1.9% |
| Cash at bank and in hand | 54/58 | €51,239 | €45,896 | -€5,343 | -10.4% |
| Deferred charges and accrued income | 490/1 | €0 | €1,063 | +€1,063 | |
| Total equity and liabilities | 10/49 | €1,963,817 | €2,032,984 | +€69,167 | +3.5% |
| Equity | 10/15 | €1,882,019 | €1,964,456 | +€82,438 | +4.4% |
| Contributions | 10/11 | €367,874 | €367,874 | = | 0.0% |
| Capital | 10 | €367,874 | €367,874 | = | 0.0% |
| Issued capital | 100 | €367,874 | €367,874 | = | 0.0% |
| Reserves | 13 | €1,434,721 | €1,522,969 | +€88,249 | +6.2% |
| Non-distributable reserves | 130/1 | €36,787 | €36,787 | = | 0.0% |
| Legal reserve | 130 | €36,787 | €36,787 | = | 0.0% |
| Tax-exempt reserves | 132 | €97,933 | €86,182 | -€11,751 | -12.0% |
| Distributable reserves | 133 | €1,300,000 | €1,400,000 | +€100,000 | +7.7% |
| Profit (loss) carried forward | 14 | €79,424 | €73,613 | -€5,811 | -7.3% |
| Provisions and deferred taxes | 16 | €32,644 | €28,727 | -€3,917 | -12.0% |
| Deferred taxes | 168 | €32,644 | €28,727 | -€3,917 | -12.0% |
| Amounts payable | 17/49 | €49,153 | €39,800 | -€9,353 | -19.0% |
| Amounts payable within one year | 42/48 | €49,153 | €38,357 | -€10,796 | -22.0% |
| Trade debts | 44 | €22,314 | €23,601 | +€1,287 | +5.8% |
| Suppliers | 440/4 | €22,314 | €23,601 | +€1,287 | +5.8% |
| Other amounts payable | 47/48 | €26,839 | €14,756 | -€12,083 | -45.0% |
| Accrued charges and deferred income | 492/3 | €0 | €1,443 | +€1,443 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,210 | €124,873 | +€3,662 | +3.0% |
| Other operating charges | 640/8 | €22,569 | €23,307 | +€738 | +3.3% |
| Gross operating margin | 9900 | €217,947 | €240,117 | +€22,170 | +10.2% |
| Operating profit (loss) | 9901 | €74,167 | €91,937 | +€17,770 | +24.0% |
| Financial income | 75/76B | €1,084 | €14,960 | +€13,876 | +1,280% |
| Recurring financial income | 75 | €1,084 | €14,960 | +€13,876 | +1,280% |
| Financial charges | 65/66B | €167 | €3,204 | +€3,037 | +1,823% |
| Recurring financial charges | 65 | €167 | €3,204 | +€3,037 | +1,823% |
| Profit (loss) for the period before taxes | 9903 | €75,085 | €103,693 | +€28,608 | +38.1% |
| Transfer from deferred taxes | 780 | €3,575 | €3,917 | +€342 | +9.6% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €22,346 | €25,172 | +€2,826 | +12.6% |
| Profit (loss) for the period | 9904 | €56,313 | €82,438 | +€26,124 | +46.4% |
| Transfer from tax-exempt reserves | 789 | €10,726 | €11,751 | +€1,025 | +9.6% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €67,039 | €94,189 | +€27,149 | +40.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.