INLOC: 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.
INLOC
Largest movements
- Cash -€203,857
down €203,857 (-47.3%), from €431,321 to €227,464
mainly Other debts (-€317,377) and Receivables within one year (-€189,717)
- Receivables within one year +€189,717
up €189,717 (+23.4%), from €810,592 to €1.0m
of which Trade receivables: +€153,951
- Current investments -€24,679
down €24,679 (-99.4%), from €24,840 to €161
- Stocks and contracts +€19,118
up €19,118 (+10.7%), from €177,953 to €197,071
of which Contracts in progress: +€149,156
- Other debts -€317,377
down €317,377 (-88.7%), from €357,857 to €40,480
- Trade debts +€111,208
up €111,208 (+27.6%), from €403,092 to €514,299
- Profit (loss) carried forward +€65,943
up €65,943 (+24.6%), from €268,600 to €334,543
- Tax, wage and social debts +€62,361
up €62,361 (+69.1%), from €90,195 to €152,556
of which Taxes: +€54,687
- Current portion of long-term debt +€55,215
up €55,215 (+31.6%), from €174,738 to €229,954
- Purchases and services -€260,560
down €260,560 (-9.1%), from €2.9m to €2.6m
- Provisions -€57,459
down €57,459, from €30,576 to -€26,883
- Staff costs +€54,014
up €54,014 (+21.7%), from €249,461 to €303,474
- Gross operating margin +€43,238
up €43,238 (+9.7%), from €444,932 to €488,169
- Write-downs +€31,843
up €31,843 (+1,731%), from €1,840 to €33,683
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 | €1,506,378 | €1,486,488 | -€19,890 | -1.3% |
| Fixed assets | 21/28 | €61,672 | €61,482 | -€190 | -0.3% |
| Tangible fixed assets | 22/27 | €61,672 | €61,482 | -€190 | -0.3% |
| Plant, machinery and equipment | 23 | €21,042 | €9,388 | -€11,654 | -55.4% |
| Furniture and vehicles | 24 | €40,630 | €52,094 | +€11,464 | +28.2% |
| Current assets | 29/58 | €1,444,706 | €1,425,006 | -€19,701 | -1.4% |
| Stocks and contracts in progress | 3 | €177,953 | €197,071 | +€19,118 | +10.7% |
| Stocks | 30/36 | €177,953 | €47,915 | -€130,038 | -73.1% |
| Contracts in progress | 37 | - | €149,156 | +€149,156 | |
| Amounts receivable within one year | 40/41 | €810,592 | €1,000,309 | +€189,717 | +23.4% |
| Trade receivables | 40 | €782,275 | €936,227 | +€153,951 | +19.7% |
| Other amounts receivable | 41 | €28,317 | €64,083 | +€35,766 | +126% |
| Current investments | 50/53 | €24,840 | €161 | -€24,679 | -99.4% |
| Cash at bank and in hand | 54/58 | €431,321 | €227,464 | -€203,857 | -47.3% |
| Total equity and liabilities | 10/49 | €1,506,378 | €1,486,488 | -€19,890 | -1.3% |
| Equity | 10/15 | €391,962 | €457,905 | +€65,943 | +16.8% |
| Contributions | 10/11 | €112,147 | €112,147 | = | 0.0% |
| Capital | 10 | €112,147 | €112,147 | = | 0.0% |
| Issued capital | 100 | €112,147 | €112,147 | = | 0.0% |
| Reserves | 13 | €11,215 | €11,215 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,215 | €11,215 | = | 0.0% |
| Legal reserve | 130 | €11,215 | €11,215 | = | 0.0% |
| Profit (loss) carried forward | 14 | €268,600 | €334,543 | +€65,943 | +24.6% |
| Provisions and deferred taxes | 16 | €49,355 | €22,472 | -€26,883 | -54.5% |
| Provisions for liabilities and charges | 160/5 | €49,355 | €22,472 | -€26,883 | -54.5% |
| Environmental obligations | 163 | €24,515 | €22,472 | -€2,043 | -8.3% |
| Other liabilities and charges | 164/5 | €24,840 | - | -€24,840 | |
| Amounts payable | 17/49 | €1,065,061 | €1,006,111 | -€58,950 | -5.5% |
| Amounts payable after more than one year | 17 | €39,179 | €68,822 | +€29,643 | +75.7% |
| Financial debts | 170/4 | €39,179 | €68,822 | +€29,643 | +75.7% |
| Amounts payable within one year | 42/48 | €1,025,882 | €937,289 | -€88,593 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €174,738 | €229,954 | +€55,215 | +31.6% |
| Trade debts | 44 | €403,092 | €514,299 | +€111,208 | +27.6% |
| Suppliers | 440/4 | €403,092 | €514,299 | +€111,208 | +27.6% |
| Taxes, remuneration and social security | 45 | €90,195 | €152,556 | +€62,361 | +69.1% |
| Taxes | 450/3 | €43,734 | €98,421 | +€54,687 | +125% |
| Remuneration and social security | 454/9 | €46,462 | €54,135 | +€7,673 | +16.5% |
| Other amounts payable | 47/48 | €357,857 | €40,480 | -€317,377 | -88.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,850,389 | €2,589,829 | -€260,560 | -9.1% |
| Remuneration, social security and pensions | 62 | €249,461 | €303,474 | +€54,014 | +21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,044 | €55,498 | +€13,454 | +32.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,840 | €33,683 | +€31,843 | +1,731% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €30,576 | -€26,883 | -€57,459 | |
| Gross operating margin | 9900 | €444,932 | €488,169 | +€43,238 | +9.7% |
| Operating profit (loss) | 9901 | €121,011 | €122,397 | +€1,385 | +1.1% |
| Financial income | 75/76B | €24,745 | €14,395 | -€10,349 | -41.8% |
| Recurring financial income | 75 | €24,745 | €14,395 | -€10,349 | -41.8% |
| Financial charges | 65/66B | €36,407 | €49,950 | +€13,543 | +37.2% |
| Recurring financial charges | 65 | €36,407 | €49,950 | +€13,543 | +37.2% |
| Profit (loss) for the period before taxes | 9903 | €109,349 | €86,843 | -€22,507 | -20.6% |
| Transfer from deferred taxes | 780 | - | €4,100 | +€4,100 | |
| Income taxes | 67/77 | €29,097 | €25,000 | -€4,097 | -14.1% |
| Profit (loss) for the period | 9904 | €80,252 | €65,943 | -€14,309 | -17.8% |
| Profit (loss) for the period to be appropriated | 9905 | €80,252 | €65,943 | -€14,309 | -17.8% |
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 27 October 2026 via checked.be.