Innershades: 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.
Innershades
Largest movements
- Tangible fixed assets +€109,610
up €109,610 (+178.7%), from €61,329 to €170,939
of which Other tangible fixed assets: +€57,875
- Cash -€45,218
down €45,218 (-38.3%), from €118,092 to €72,873
mainly Investment in fixed assets (net) (-€124,957) and Receivables within one year (-€5,917)
- Receivables within one year +€5,917
up €5,917 (+136.8%), from €4,325 to €10,242
- Reserves +€64,706
up €64,706 (+49.9%), from €129,608 to €194,315
- Tax, wage and social debts +€6,747
up €6,747 (+16.9%), from €39,929 to €46,676
of which Taxes: +€9,070
- Trade debts -€2,871
down €2,871 (-80.7%), from €3,560 to €688
- Gross operating margin -€16,867
down €16,867 (-14.7%), from €114,719 to €97,852
- Taxes -€5,196
down €5,196 (-24.7%), from €21,017 to €15,821
- Depreciation +€4,559
up €4,559 (+42.1%), from €10,838 to €15,397
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 | €186,065 | €255,649 | +€69,584 | +37.4% |
| Fixed assets | 21/28 | €61,731 | €171,291 | +€109,560 | +177.5% |
| Intangible fixed assets | 21 | €402 | €352 | -€50 | -12.4% |
| Tangible fixed assets | 22/27 | €61,329 | €170,939 | +€109,610 | +178.7% |
| Plant, machinery and equipment | 23 | €10,957 | €16,677 | +€5,721 | +52.2% |
| Furniture and vehicles | 24 | €12,483 | €58,497 | +€46,015 | +368.6% |
| Other tangible fixed assets | 26 | €37,889 | €95,764 | +€57,875 | +152.7% |
| Current assets | 29/58 | €124,334 | €84,358 | -€39,976 | -32.2% |
| Amounts receivable within one year | 40/41 | €4,325 | €10,242 | +€5,917 | +136.8% |
| Trade receivables | 40 | €4,325 | €10,242 | +€5,917 | +136.8% |
| Cash at bank and in hand | 54/58 | €118,092 | €72,873 | -€45,218 | -38.3% |
| Deferred charges and accrued income | 490/1 | €1,917 | €1,242 | -€675 | -35.2% |
| Total equity and liabilities | 10/49 | €186,065 | €255,649 | +€69,584 | +37.4% |
| Equity | 10/15 | €139,608 | €204,315 | +€64,706 | +46.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €129,608 | €194,315 | +€64,706 | +49.9% |
| Distributable reserves | 133 | €129,608 | €194,315 | +€64,706 | +49.9% |
| Amounts payable | 17/49 | €46,456 | €51,334 | +€4,878 | +10.5% |
| Amounts payable within one year | 42/48 | €45,256 | €50,134 | +€4,878 | +10.8% |
| Trade debts | 44 | €3,560 | €688 | -€2,871 | -80.7% |
| Suppliers | 440/4 | €3,560 | €688 | -€2,871 | -80.7% |
| Taxes, remuneration and social security | 45 | €39,929 | €46,676 | +€6,747 | +16.9% |
| Taxes | 450/3 | €37,606 | €46,676 | +€9,070 | +24.1% |
| Remuneration and social security | 454/9 | €2,323 | - | -€2,323 | |
| Other amounts payable | 47/48 | €1,768 | €2,770 | +€1,002 | +56.7% |
| Accrued charges and deferred income | 492/3 | €1,200 | €1,200 | = | 0.0% |
| Non-recurring operating income | 76A | - | €2,815 | +€2,815 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,838 | €15,397 | +€4,559 | +42.1% |
| Other operating charges | 640/8 | €577 | €1,575 | +€998 | +172.8% |
| Gross operating margin | 9900 | €114,719 | €97,852 | -€16,867 | -14.7% |
| Operating profit (loss) | 9901 | €103,303 | €80,880 | -€22,424 | -21.7% |
| Financial income | 75/76B | €165 | €1 | -€165 | -99.6% |
| Recurring financial income | 75 | €165 | €1 | -€165 | -99.6% |
| Financial charges | 65/66B | €510 | €353 | -€157 | -30.7% |
| Recurring financial charges | 65 | €510 | €353 | -€157 | -30.7% |
| Profit (loss) for the period before taxes | 9903 | €102,959 | €80,527 | -€22,432 | -21.8% |
| Income taxes | 67/77 | €21,017 | €15,821 | -€5,196 | -24.7% |
| Profit (loss) for the period | 9904 | €81,942 | €64,706 | -€17,236 | -21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €81,942 | €64,706 | -€17,236 | -21.0% |
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.