INLECOM GROUP: 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.
INLECOM GROUP
Largest movements
- Current investments +€492,000
up €492,000 (+76.9%), from €640,000 to €1.1m
- Cash +€282,932
up €282,932 (+428%), from €66,180 to €349,112
mainly Other debts (+€773,915) and Net result for the year (+€43,688)
- Receivables within one year +€25,885
up €25,885 (+123%), from €20,992 to €46,877
of which Other amounts receivable: +€35,302
- Intangible fixed assets +€16,232
new in 2025: €16,232
- Other debts +€773,915
up €773,915 (+9,498%), from €8,149 to €782,063
- Reserves +€43,688
up €43,688 (+6.5%), from €669,447 to €713,134
of which Distributable reserves: +€43,688
- Gross operating margin -€214,784
down €214,784 (-43.9%), from €489,258 to €274,474
- Staff costs -€96,191
down €96,191 (-28.8%), from €333,587 to €237,396
- Taxes -€22,857
down €22,857 (-71.1%), from €32,167 to €9,310
- Financial income -€21,238
down €21,238 (-47.2%), from €44,982 to €23,744
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 | €743,390 | €1,559,863 | +€816,474 | +110% |
| Fixed assets | 21/28 | €10,619 | €25,673 | +€15,054 | +142% |
| Intangible fixed assets | 21 | - | €16,232 | +€16,232 | |
| Tangible fixed assets | 22/27 | €10,619 | €9,441 | -€1,178 | -11.1% |
| Furniture and vehicles | 24 | €10,619 | €9,441 | -€1,178 | -11.1% |
| Current assets | 29/58 | €732,770 | €1,534,190 | +€801,420 | +109% |
| Amounts receivable within one year | 40/41 | €20,992 | €46,877 | +€25,885 | +123% |
| Trade receivables | 40 | €10,492 | €1,075 | -€9,417 | -89.8% |
| Other amounts receivable | 41 | €10,500 | €45,802 | +€35,302 | +336% |
| Current investments | 50/53 | €640,000 | €1,132,000 | +€492,000 | +76.9% |
| Cash at bank and in hand | 54/58 | €66,180 | €349,112 | +€282,932 | +428% |
| Deferred charges and accrued income | 490/1 | €5,598 | €6,201 | +€603 | +10.8% |
| Total equity and liabilities | 10/49 | €743,390 | €1,559,863 | +€816,474 | +110% |
| Equity | 10/15 | €712,242 | €755,930 | +€43,688 | +6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €669,447 | €713,134 | +€43,688 | +6.5% |
| 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 | €667,587 | €711,274 | +€43,688 | +6.5% |
| Profit (loss) carried forward | 14 | €24,196 | €24,196 | = | 0.0% |
| Amounts payable | 17/49 | €31,147 | €803,933 | +€772,786 | +2,481% |
| Amounts payable within one year | 42/48 | €27,017 | €799,643 | +€772,626 | +2,860% |
| Trade debts | 44 | €17,668 | €16,948 | -€720 | -4.1% |
| Suppliers | 440/4 | €17,668 | €16,948 | -€720 | -4.1% |
| Taxes, remuneration and social security | 45 | €1,201 | €632 | -€569 | -47.4% |
| Taxes | 450/3 | €1,201 | €632 | -€569 | -47.4% |
| Other amounts payable | 47/48 | €8,149 | €782,063 | +€773,915 | +9,498% |
| Accrued charges and deferred income | 492/3 | €4,130 | €4,290 | +€160 | +3.9% |
| Remuneration, social security and pensions | 62 | €333,587 | €237,396 | -€96,191 | -28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,268 | €6,258 | +€1,990 | +46.6% |
| Other operating charges | 640/8 | €1,403 | €1,454 | +€51 | +3.6% |
| Gross operating margin | 9900 | €489,258 | €274,474 | -€214,784 | -43.9% |
| Operating profit (loss) | 9901 | €149,999 | €29,366 | -€120,633 | -80.4% |
| Financial income | 75/76B | €44,982 | €23,744 | -€21,238 | -47.2% |
| Recurring financial income | 75 | €44,982 | €23,744 | -€21,238 | -47.2% |
| Financial charges | 65/66B | €424 | €112 | -€312 | -73.5% |
| Recurring financial charges | 65 | €424 | €112 | -€312 | -73.5% |
| Profit (loss) for the period before taxes | 9903 | €194,557 | €52,998 | -€141,560 | -72.8% |
| Income taxes | 67/77 | €32,167 | €9,310 | -€22,857 | -71.1% |
| Profit (loss) for the period | 9904 | €162,390 | €43,688 | -€118,702 | -73.1% |
| Profit (loss) for the period to be appropriated | 9905 | €162,390 | €43,688 | -€118,702 | -73.1% |
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 15 October 2026 via checked.be.