INKRIVAMO: 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.
INKRIVAMO
Largest movements
- Receivables within one year +€118,561
up €118,561 (+43.3%), from €273,608 to €392,169
of which Trade receivables: +€112,383
- Intangible fixed assets +€106,955
new in 2025: €106,955
- Cash -€102,990
down €102,990 (-57.7%), from €178,575 to €75,585
mainly Other debts (-€132,422) and Receivables within one year (-€118,561)
- Formation expenses -€96,596
down €96,596 (-100%), from €96,596 to €0
- Receivables after one year +€46,360
new in 2025: €46,360
- Current portion of long-term debt +€258,365
up €258,365 (+787%), from €32,835 to €291,200
- Trade debts +€198,114
up €198,114 (+155%), from €127,958 to €326,072
- Other debts -€132,422
down €132,422 (-100.0%), from €132,439 to €17
- Profit (loss) carried forward -€118,508
down €118,508 (-97.6%), from -€121,454 to -€239,962
- Tax, wage and social debts -€106,224
down €106,224 (-78.4%), from €135,429 to €29,205
of which Remuneration and social security: -€65,027
- Gross operating margin -€27,612
down €27,612 (-11.0%), from €251,649 to €224,037
- Staff costs -€12,408
down €12,408 (-4.9%), from €254,424 to €242,016
- Depreciation +€3,858
up €3,858 (+5.5%), from €70,410 to €74,268
- Financial charges +€3,588
up €3,588 (+17.4%), from €20,604 to €24,192
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 | €903,233 | €959,484 | +€56,251 | +6.2% |
| Formation expenses | 20 | €96,596 | €0 | -€96,596 | -100% |
| Fixed assets | 21/28 | €207,766 | €275,942 | +€68,176 | +32.8% |
| Intangible fixed assets | 21 | - | €106,955 | +€106,955 | |
| Tangible fixed assets | 22/27 | €206,725 | €162,512 | -€44,213 | -21.4% |
| Land and buildings | 22 | €789 | €707 | -€82 | -10.4% |
| Plant, machinery and equipment | 23 | €170,691 | €136,732 | -€33,959 | -19.9% |
| Furniture and vehicles | 24 | €35,245 | €25,073 | -€10,172 | -28.9% |
| Financial fixed assets | 28 | €1,041 | €6,475 | +€5,434 | +522% |
| Current assets | 29/58 | €598,871 | €683,542 | +€84,671 | +14.1% |
| Amounts receivable after more than one year | 29 | - | €46,360 | +€46,360 | |
| Other amounts receivable | 291 | - | €46,360 | +€46,360 | |
| Stocks and contracts in progress | 3 | €146,688 | €169,428 | +€22,740 | +15.5% |
| Stocks | 30/36 | €146,688 | €169,428 | +€22,740 | +15.5% |
| Amounts receivable within one year | 40/41 | €273,608 | €392,169 | +€118,561 | +43.3% |
| Trade receivables | 40 | €230,232 | €342,615 | +€112,383 | +48.8% |
| Other amounts receivable | 41 | €43,376 | €49,554 | +€6,178 | +14.2% |
| Cash at bank and in hand | 54/58 | €178,575 | €75,585 | -€102,990 | -57.7% |
| Total equity and liabilities | 10/49 | €903,233 | €959,484 | +€56,251 | +6.2% |
| Equity | 10/15 | €78,654 | €3,646 | -€75,008 | -95.4% |
| Contributions | 10/11 | €198,971 | €242,471 | +€43,500 | +21.9% |
| Contributions outside capital | 11 | €198,971 | €242,471 | +€43,500 | +21.9% |
| Other | 1109/19 | €198,971 | €242,471 | +€43,500 | +21.9% |
| Reserves | 13 | €1,137 | €1,137 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,137 | €1,137 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,137 | €1,137 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€121,454 | -€239,962 | -€118,508 | -97.6% |
| Amounts payable | 17/49 | €824,579 | €955,838 | +€131,259 | +15.9% |
| Amounts payable after more than one year | 17 | €395,918 | €309,344 | -€86,574 | -21.9% |
| Financial debts | 170/4 | €395,918 | €204,718 | -€191,200 | -48.3% |
| Other amounts payable | 178/9 | - | €104,626 | +€104,626 | |
| Amounts payable within one year | 42/48 | €428,661 | €646,494 | +€217,833 | +50.8% |
| Current portion of amounts payable after more than one year | 42 | €32,835 | €291,200 | +€258,365 | +787% |
| Trade debts | 44 | €127,958 | €326,072 | +€198,114 | +155% |
| Suppliers | 440/4 | €127,958 | €326,072 | +€198,114 | +155% |
| Taxes, remuneration and social security | 45 | €135,429 | €29,205 | -€106,224 | -78.4% |
| Taxes | 450/3 | €41,197 | - | -€41,197 | |
| Remuneration and social security | 454/9 | €94,232 | €29,205 | -€65,027 | -69.0% |
| Other amounts payable | 47/48 | €132,439 | €17 | -€132,422 | -100.0% |
| Remuneration, social security and pensions | 62 | €254,424 | €242,016 | -€12,408 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,410 | €74,268 | +€3,858 | +5.5% |
| Other operating charges | 640/8 | €2,588 | €2,069 | -€519 | -20.1% |
| Gross operating margin | 9900 | €251,649 | €224,037 | -€27,612 | -11.0% |
| Operating profit (loss) | 9901 | -€75,773 | -€94,316 | -€18,543 | -24.5% |
| Financial income | 75/76B | €723 | €0 | -€723 | -100% |
| Recurring financial income | 75 | €723 | €0 | -€723 | -100% |
| Financial charges | 65/66B | €20,604 | €24,192 | +€3,588 | +17.4% |
| Recurring financial charges | 65 | €20,604 | €24,192 | +€3,588 | +17.4% |
| Profit (loss) for the period before taxes | 9903 | -€95,654 | -€118,508 | -€22,854 | -23.9% |
| Profit (loss) for the period | 9904 | -€95,654 | -€118,508 | -€22,854 | -23.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€95,654 | -€118,508 | -€22,854 | -23.9% |
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 31 October 2026 via checked.be.