INNER TREE: 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.
INNER TREE
Largest movements
- Receivables within one year -€5,252
down €5,252 (-79.0%), from €6,646 to €1,394
- Tangible fixed assets -€4,363
down €4,363 (-1.3%), from €348,885 to €344,522
of which Land and buildings: -€3,700
- Debts after one year -€40,065
down €40,065 (-15.9%), from €252,599 to €212,534
- Profit (loss) carried forward +€16,947
up €16,947 (+28.7%), from -€59,047 to -€42,100
- Other debts +€9,827
up €9,827 (+46.1%), from €21,328 to €31,155
- Current portion of long-term debt +€8,945
up €8,945 (+22.5%), from €39,695 to €48,640
- Accrued charges and deferred income -€7,190
down €7,190 (-39.5%), from €18,197 to €11,007
- Gross operating margin +€14,309
up €14,309 (+58.2%), from €24,569 to €38,878
- Other operating charges +€4,930
up €4,930 (+423.5%), from €1,164 to €6,094
- Financial charges -€1,757
down €1,757 (-23.2%), from €7,585 to €5,828
- Depreciation +€1,025
up €1,025 (+11.4%), from €8,984 to €10,009
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.
Cash bridge derived
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 | €379,067 | €368,987 | -€10,080 | -2.7% |
| Fixed assets | 21/28 | €349,985 | €345,622 | -€4,363 | -1.2% |
| Tangible fixed assets | 22/27 | €348,885 | €344,522 | -€4,363 | -1.3% |
| Land and buildings | 22 | €344,143 | €340,443 | -€3,700 | -1.1% |
| Plant, machinery and equipment | 23 | €2,660 | €2,329 | -€331 | -12.4% |
| Furniture and vehicles | 24 | €2,082 | €1,750 | -€332 | -15.9% |
| Financial fixed assets | 28 | €1,100 | €1,100 | = | 0.0% |
| Current assets | 29/58 | €29,082 | €23,365 | -€5,717 | -19.7% |
| Stocks and contracts in progress | 3 | €2,771 | €2,865 | +€94 | +3.4% |
| Stocks | 30/36 | €2,639 | €2,696 | +€57 | +2.2% |
| Contracts in progress | 37 | €132 | €169 | +€37 | +28.0% |
| Amounts receivable within one year | 40/41 | €6,646 | €1,394 | -€5,252 | -79.0% |
| Trade receivables | 40 | €6,646 | €1,394 | -€5,252 | -79.0% |
| Cash at bank and in hand | 54/58 | €19,320 | €18,419 | -€901 | -4.7% |
| Deferred charges and accrued income | 490/1 | €345 | €687 | +€342 | +99.1% |
| Total equity and liabilities | 10/49 | €379,067 | €368,987 | -€10,080 | -2.7% |
| Equity | 10/15 | €40,953 | €57,900 | +€16,947 | +41.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,047 | -€42,100 | +€16,947 | +28.7% |
| Amounts payable | 17/49 | €338,114 | €311,087 | -€27,027 | -8.0% |
| Amounts payable after more than one year | 17 | €252,599 | €212,534 | -€40,065 | -15.9% |
| Financial debts | 170/4 | €252,599 | €212,534 | -€40,065 | -15.9% |
| Amounts payable within one year | 42/48 | €67,318 | €87,546 | +€20,228 | +30.0% |
| Current portion of amounts payable after more than one year | 42 | €39,695 | €48,640 | +€8,945 | +22.5% |
| Trade debts | 44 | €1,117 | €1,464 | +€347 | +31.1% |
| Suppliers | 440/4 | €1,117 | €1,464 | +€347 | +31.1% |
| Advances received on contracts in progress | 46 | €290 | - | -€290 | |
| Taxes, remuneration and social security | 45 | €4,888 | €6,287 | +€1,399 | +28.6% |
| Taxes | 450/3 | €4,888 | €6,287 | +€1,399 | +28.6% |
| Other amounts payable | 47/48 | €21,328 | €31,155 | +€9,827 | +46.1% |
| Accrued charges and deferred income | 492/3 | €18,197 | €11,007 | -€7,190 | -39.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,984 | €10,009 | +€1,025 | +11.4% |
| Other operating charges | 640/8 | €1,164 | €6,094 | +€4,930 | +423.5% |
| Gross operating margin | 9900 | €24,569 | €38,878 | +€14,309 | +58.2% |
| Operating profit (loss) | 9901 | €14,421 | €22,775 | +€8,354 | +57.9% |
| Financial charges | 65/66B | €7,585 | €5,828 | -€1,757 | -23.2% |
| Recurring financial charges | 65 | €7,585 | €5,828 | -€1,757 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €6,836 | €16,947 | +€10,111 | +147.9% |
| Profit (loss) for the period | 9904 | €6,836 | €16,947 | +€10,111 | +147.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,836 | €16,947 | +€10,111 | +147.9% |
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 9 October 2026 via checked.be.