INNOVAR: 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.
What changed
INNOVAR
NACE 01.462, Crop and animal production, hunting and related service activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€600,066
2024 · €744,813-€144,747
Equity
€1.1m
2024 · €2.3m-€1.2m
Cash
€1.4m
2024 · €1.9m-€482,632
Balance sheet total
€5.3m
2024 · €5.7m-€468,982
Largest movements
Assets
- Cash -€482,632
down €482,632 (-25.9%), from €1.9m to €1.4m
mainly Contributions, distributions and other (-€1.8m) and Trade debts (-€258,154)
- Current investments +€200,000
new in 2025: €200,000
- Stocks and contracts -€124,240
down €124,240 (-18.0%), from €690,024 to €565,784
Equity and liabilities
- Other debts +€1.3m
up €1.3m (+4,892%), from €26,140 to €1.3m
- Reserves -€1.2m
down €1.2m (-59.5%), from €2.1m to €840,380
- Trade debts -€258,154
down €258,154 (-42.7%), from €604,517 to €346,363
- Debts after one year -€219,115
down €219,115 (-8.8%), from €2.5m to €2.3m
Income statement
- Gross operating margin -€203,657
down €203,657 (-16.3%), from €1.2m to €1.0m
- Taxes -€59,011
down €59,011 (-24.0%), from €245,708 to €186,697
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.
Result 2024
€744,813
Gross operating margin
-€203,657
Depreciation
-€1,482
Other operating charges
+€2,342
Financial income
-€1,251
Financial charges
+€289
Taxes
+€59,011
Result 2025
€600,066
raises the resultlowers the result
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.
From operations
+€2.0m
Investment
-€350,401
Financing
-€2.1m
Cash 2024
€1.9m
From operations (derived)
+€2.0m
Net result for the year
+€600,066
Depreciation
+€190,309
Stocks and contracts
+€124,240
Receivables within one year
+€23,053
Deferred charges and accrued income
-€851
Trade debts
-€258,154
Tax, wage and social debts
+€26,620
Other debts
+€1.3m
Accrued charges and deferred income
-€12,179
Investment (derived)
-€350,401
Investment in fixed assets (net)
-€150,401
Current investments
-€200,000
Financing
-€2.1m
Debts after one year
-€219,115
Current portion of long-term debt
-€50,000
Contributions, distributions and other
-€1.8m
Cash 2025
€1.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,735,109 | €5,266,127 | -€468,982 | -8.2% |
| Fixed assets | 21/28 | €2,933,786 | €2,893,878 | -€39,908 | -1.4% |
| Intangible fixed assets | 21 | €27,417 | €22,697 | -€4,720 | -17.2% |
| Tangible fixed assets | 22/27 | €2,906,369 | €2,871,181 | -€35,188 | -1.2% |
| Land and buildings | 22 | €2,630,551 | €2,495,094 | -€135,457 | -5.1% |
| Plant, machinery and equipment | 23 | €225,834 | €376,086 | +€150,252 | +66.5% |
| Assets under construction and advance payments | 27 | €49,984 | €0 | -€49,984 | -100% |
| Current assets | 29/58 | €2,801,323 | €2,372,249 | -€429,075 | -15.3% |
| Stocks and contracts in progress | 3 | €690,024 | €565,784 | -€124,240 | -18.0% |
| Stocks | 30/36 | €690,024 | €565,784 | -€124,240 | -18.0% |
| Amounts receivable within one year | 40/41 | €242,500 | €219,447 | -€23,053 | -9.5% |
| Trade receivables | 40 | €232,778 | €153,014 | -€79,764 | -34.3% |
| Other amounts receivable | 41 | €9,722 | €66,433 | +€56,711 | +583% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €1,860,421 | €1,377,789 | -€482,632 | -25.9% |
| Deferred charges and accrued income | 490/1 | €8,378 | €9,229 | +€851 | +10.2% |
| Total equity and liabilities | 10/49 | €5,735,109 | €5,266,127 | -€468,982 | -8.2% |
| Equity | 10/15 | €2,325,315 | €1,090,380 | -€1.2m | -53.1% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €2,075,315 | €840,380 | -€1.2m | -59.5% |
| Distributable reserves | 133 | €2,075,315 | €840,380 | -€1.2m | -59.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €3,409,794 | €4,175,746 | +€765,952 | +22.5% |
| Amounts payable after more than one year | 17 | €2,497,825 | €2,278,710 | -€219,115 | -8.8% |
| Financial debts | 170/4 | €2,497,825 | €2,278,710 | -€219,115 | -8.8% |
| Amounts payable within one year | 42/48 | €899,790 | €1,897,036 | +€997,246 | +111% |
| Current portion of amounts payable after more than one year | 42 | €269,115 | €219,115 | -€50,000 | -18.6% |
| Trade debts | 44 | €604,517 | €346,363 | -€258,154 | -42.7% |
| Suppliers | 440/4 | €604,517 | €346,363 | -€258,154 | -42.7% |
| Taxes, remuneration and social security | 45 | €19 | €26,638 | +€26,620 | +142,047% |
| Taxes | 450/3 | €19 | €26,638 | +€26,620 | +142,047% |
| Other amounts payable | 47/48 | €26,140 | €1,304,920 | +€1.3m | +4,892% |
| Accrued charges and deferred income | 492/3 | €12,179 | €0 | -€12,179 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €188,827 | €190,309 | +€1,482 | +0.8% |
| Other operating charges | 640/8 | €11,341 | €8,998 | -€2,342 | -20.7% |
| Gross operating margin | 9900 | €1,246,694 | €1,043,037 | -€203,657 | -16.3% |
| Operating profit (loss) | 9901 | €1,046,526 | €843,729 | -€202,797 | -19.4% |
| Financial income | 75/76B | €11,683 | €10,433 | -€1,251 | -10.7% |
| Recurring financial income | 75 | €11,683 | €10,433 | -€1,251 | -10.7% |
| Financial charges | 65/66B | €67,688 | €67,399 | -€289 | -0.4% |
| Recurring financial charges | 65 | €67,688 | €67,399 | -€289 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €990,521 | €786,763 | -€203,758 | -20.6% |
| Income taxes | 67/77 | €245,708 | €186,697 | -€59,011 | -24.0% |
| Profit (loss) for the period | 9904 | €744,813 | €600,066 | -€144,747 | -19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €744,813 | €600,066 | -€144,747 | -19.4% |
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 18 October 2026 via checked.be.