INKODA: 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.
INKODA
Largest movements
- Deferred charges and accrued income +€50,080
up €50,080 (+2,692%), from €1,860 to €51,941
- Current investments +€37,839
up €37,839 (+7.9%), from €476,842 to €514,681
- Cash +€27,935
up €27,935 (+217%), from €12,875 to €40,810
mainly Net result for the year (+€122,425) and Tax, wage and social debts (+€29,493)
- Receivables within one year -€8,184
down €8,184 (-16.3%), from €50,353 to €42,169
- Reserves +€74,144
up €74,144 (+17.5%), from €422,830 to €496,974
of which Distributable reserves: +€74,144
- Tax, wage and social debts +€29,493
up €29,493 (+82.8%), from €35,640 to €65,133
of which Taxes: +€26,532
- Other debts +€14,366
up €14,366 (+20.9%), from €68,585 to €82,951
- Trade debts -€12,223
down €12,223 (-90.7%), from €13,474 to €1,251
- Gross operating margin +€60,946
up €60,946 (+58.8%), from €103,661 to €164,607
- Taxes +€15,677
up €15,677 (+45.5%), from €34,472 to €50,149
- Financial income +€2,414
up €2,414 (+16.1%), from €14,961 to €17,375
- Other operating charges -€2,168
down €2,168 (-71.3%), from €3,042 to €874
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 | €553,235 | €658,043 | +€104,809 | +18.9% |
| Fixed assets | 21/28 | €11,305 | €8,444 | -€2,862 | -25.3% |
| Tangible fixed assets | 22/27 | €10,505 | €7,644 | -€2,862 | -27.2% |
| Land and buildings | 22 | €983 | €737 | -€246 | -25.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €9,522 | €6,907 | -€2,616 | -27.5% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €541,929 | €649,600 | +€107,670 | +19.9% |
| Amounts receivable within one year | 40/41 | €50,353 | €42,169 | -€8,184 | -16.3% |
| Trade receivables | 40 | €50,353 | €42,169 | -€8,184 | -16.3% |
| Current investments | 50/53 | €476,842 | €514,681 | +€37,839 | +7.9% |
| Cash at bank and in hand | 54/58 | €12,875 | €40,810 | +€27,935 | +217% |
| Deferred charges and accrued income | 490/1 | €1,860 | €51,941 | +€50,080 | +2,692% |
| Total equity and liabilities | 10/49 | €553,235 | €658,043 | +€104,809 | +18.9% |
| Equity | 10/15 | €429,030 | €503,174 | +€74,144 | +17.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €422,830 | €496,974 | +€74,144 | +17.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €420,970 | €495,114 | +€74,144 | +17.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €124,204 | €154,869 | +€30,665 | +24.7% |
| Amounts payable within one year | 42/48 | €124,204 | €154,804 | +€30,600 | +24.6% |
| Financial debts | 43 | €6,506 | €5,470 | -€1,036 | -15.9% |
| Credit institutions | 430/8 | €5,349 | €3,730 | -€1,619 | -30.3% |
| Other loans | 439 | €1,157 | €1,740 | +€583 | +50.4% |
| Trade debts | 44 | €13,474 | €1,251 | -€12,223 | -90.7% |
| Suppliers | 440/4 | €13,474 | €1,251 | -€12,223 | -90.7% |
| Taxes, remuneration and social security | 45 | €35,640 | €65,133 | +€29,493 | +82.8% |
| Taxes | 450/3 | €35,640 | €62,172 | +€26,532 | +74.4% |
| Remuneration and social security | 454/9 | - | €2,961 | +€2,961 | |
| Other amounts payable | 47/48 | €68,585 | €82,951 | +€14,366 | +20.9% |
| Accrued charges and deferred income | 492/3 | - | €65 | +€65 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,714 | €2,862 | +€1,148 | +67.0% |
| Other operating charges | 640/8 | €3,042 | €874 | -€2,168 | -71.3% |
| Gross operating margin | 9900 | €103,661 | €164,607 | +€60,946 | +58.8% |
| Operating profit (loss) | 9901 | €98,905 | €160,871 | +€61,966 | +62.7% |
| Financial income | 75/76B | €14,961 | €17,375 | +€2,414 | +16.1% |
| Recurring financial income | 75 | €14,961 | €17,375 | +€2,414 | +16.1% |
| Financial charges | 65/66B | €4,832 | €5,672 | +€840 | +17.4% |
| Recurring financial charges | 65 | €4,832 | €5,672 | +€840 | +17.4% |
| Profit (loss) for the period before taxes | 9903 | €109,034 | €172,574 | +€63,540 | +58.3% |
| Income taxes | 67/77 | €34,472 | €50,149 | +€15,677 | +45.5% |
| Profit (loss) for the period | 9904 | €74,562 | €122,425 | +€47,863 | +64.2% |
| Profit (loss) for the period to be appropriated | 9905 | €74,562 | €122,425 | +€47,863 | +64.2% |
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 13 October 2026 via checked.be.