INL: 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.
INL
Largest movements
- Cash +€71,198
up €71,198 (+85.2%), from €83,596 to €154,794
mainly Net result for the year (+€104,614) and Depreciation (+€4,658)
- Reserves +€104,500
up €104,500 (+21.8%), from €478,860 to €583,360
of which Distributable reserves: +€104,500
- Other debts -€30,000
no longer reported in 2025 (was €30,000)
- Tax, wage and social debts -€12,375
down €12,375 (-19.4%), from €63,820 to €51,446
- Gross operating margin -€25,420
down €25,420 (-15.5%), from €164,242 to €138,822
- Financial income +€10,722
up €10,722 (+157%), from €6,833 to €17,555
- Taxes -€6,501
down €6,501 (-12.6%), from €51,531 to €45,030
- Depreciation +€2,536
up €2,536 (+120%), from €2,122 to €4,658
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 | €797,094 | €862,174 | +€65,081 | +8.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €24,071 | €20,073 | -€3,998 | -16.6% |
| Tangible fixed assets | 22/27 | €23,985 | €19,987 | -€3,998 | -16.7% |
| Furniture and vehicles | 24 | €5,257 | €5,238 | -€20 | -0.4% |
| Leasing and similar rights | 25 | €18,727 | €14,749 | -€3,978 | -21.2% |
| Financial fixed assets | 28 | €86 | €86 | = | 0.0% |
| Current assets | 29/58 | €773,023 | €842,101 | +€69,078 | +8.9% |
| Amounts receivable within one year | 40/41 | €110,012 | €107,595 | -€2,418 | -2.2% |
| Trade receivables | 40 | - | €27,766 | +€27,766 | |
| Other amounts receivable | 41 | €110,012 | €79,829 | -€30,183 | -27.4% |
| Current investments | 50/53 | €576,643 | €576,643 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €83,596 | €154,794 | +€71,198 | +85.2% |
| Deferred charges and accrued income | 490/1 | €2,772 | €3,070 | +€298 | +10.7% |
| Total equity and liabilities | 10/49 | €797,094 | €862,174 | +€65,081 | +8.2% |
| Equity | 10/15 | €702,061 | €806,675 | +€104,614 | +14.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €478,860 | €583,360 | +€104,500 | +21.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €477,000 | €581,500 | +€104,500 | +21.9% |
| Profit (loss) carried forward | 14 | €217,001 | €217,115 | +€114 | +0.1% |
| Amounts payable | 17/49 | €95,032 | €55,499 | -€39,533 | -41.6% |
| Amounts payable within one year | 42/48 | €95,032 | €55,499 | -€39,533 | -41.6% |
| Trade debts | 44 | €1,212 | €4,053 | +€2,841 | +234% |
| Suppliers | 440/4 | €1,212 | €4,053 | +€2,841 | +234% |
| Taxes, remuneration and social security | 45 | €63,820 | €51,446 | -€12,375 | -19.4% |
| Taxes | 450/3 | €63,820 | €51,446 | -€12,375 | -19.4% |
| Other amounts payable | 47/48 | €30,000 | - | -€30,000 | |
| Non-recurring operating income | 76A | €12,069 | - | -€12,069 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,122 | €4,658 | +€2,536 | +120% |
| Other operating charges | 640/8 | €1,040 | €1,658 | +€618 | +59.4% |
| Gross operating margin | 9900 | €164,242 | €138,822 | -€25,420 | -15.5% |
| Operating profit (loss) | 9901 | €161,080 | €132,506 | -€28,574 | -17.7% |
| Financial income | 75/76B | €6,833 | €17,555 | +€10,722 | +157% |
| Recurring financial income | 75 | €6,833 | €17,555 | +€10,722 | +157% |
| Financial charges | 65/66B | €490 | €417 | -€73 | -14.9% |
| Recurring financial charges | 65 | €490 | €417 | -€73 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €167,423 | €149,644 | -€17,779 | -10.6% |
| Income taxes | 67/77 | €51,531 | €45,030 | -€6,501 | -12.6% |
| Profit (loss) for the period | 9904 | €115,892 | €104,614 | -€11,278 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €115,892 | €104,614 | -€11,278 | -9.7% |
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 21 October 2026 via checked.be.