INNOVATE2DREDGE: 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.
INNOVATE2DREDGE
Largest movements
- Cash +€127,584
up €127,584 (+123%), from €103,330 to €230,914
mainly Receivables within one year (+€57,849) and Net result for the year (+€49,506)
- Receivables within one year -€57,849
no longer reported in 2025 (was €57,849)
of which Trade receivables: -€51,333
- Reserves +€49,506
up €49,506 (+40.4%), from €122,490 to €171,995
- Other debts +€13,839
up €13,839 (+40.6%), from €34,120 to €47,959
- Tax, wage and social debts +€7,698
up €7,698 (+217%), from €3,540 to €11,237
- Gross operating margin +€31,300
up €31,300 (+65.4%), from €47,863 to €79,163
- Taxes +€12,972
up €12,972 (+109%), from €11,850 to €24,822
- Financial charges -€1,113
down €1,113 (-32.4%), from €3,433 to €2,320
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 | €164,160 | €235,029 | +€70,869 | +43.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €2,981 | €4,115 | +€1,134 | +38.0% |
| Intangible fixed assets | 21 | €248 | - | -€248 | |
| Tangible fixed assets | 22/27 | €2,733 | €4,115 | +€1,382 | +50.6% |
| Plant, machinery and equipment | 23 | - | €1,032 | +€1,032 | |
| Furniture and vehicles | 24 | €2,733 | €3,083 | +€350 | +12.8% |
| Current assets | 29/58 | €161,179 | €230,914 | +€69,735 | +43.3% |
| Amounts receivable within one year | 40/41 | €57,849 | - | -€57,849 | |
| Trade receivables | 40 | €51,333 | - | -€51,333 | |
| Other amounts receivable | 41 | €6,516 | - | -€6,516 | |
| Cash at bank and in hand | 54/58 | €103,330 | €230,914 | +€127,584 | +123% |
| Total equity and liabilities | 10/49 | €164,160 | €235,029 | +€70,869 | +43.2% |
| Equity | 10/15 | €125,490 | €174,995 | +€49,506 | +39.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €122,490 | €171,995 | +€49,506 | +40.4% |
| Distributable reserves | 133 | €122,490 | €171,995 | +€49,506 | +40.4% |
| Amounts payable | 17/49 | €38,670 | €60,034 | +€21,363 | +55.2% |
| Amounts payable within one year | 42/48 | €38,670 | €60,034 | +€21,363 | +55.2% |
| Trade debts | 44 | €1,011 | €837 | -€174 | -17.2% |
| Suppliers | 440/4 | €1,011 | €837 | -€174 | -17.2% |
| Taxes, remuneration and social security | 45 | €3,540 | €11,237 | +€7,698 | +217% |
| Taxes | 450/3 | €3,540 | €11,237 | +€7,698 | +217% |
| Other amounts payable | 47/48 | €34,120 | €47,959 | +€13,839 | +40.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,303 | €1,583 | -€720 | -31.2% |
| Other operating charges | 640/8 | €1,581 | €932 | -€649 | -41.1% |
| Gross operating margin | 9900 | €47,863 | €79,163 | +€31,300 | +65.4% |
| Operating profit (loss) | 9901 | €43,978 | €76,648 | +€32,670 | +74.3% |
| Financial charges | 65/66B | €3,433 | €2,320 | -€1,113 | -32.4% |
| Recurring financial charges | 65 | €3,433 | €2,320 | -€1,113 | -32.4% |
| Profit (loss) for the period before taxes | 9903 | €40,545 | €74,328 | +€33,783 | +83.3% |
| Income taxes | 67/77 | €11,850 | €24,822 | +€12,972 | +109% |
| Profit (loss) for the period | 9904 | €28,695 | €49,506 | +€20,811 | +72.5% |
| Profit (loss) for the period to be appropriated | 9905 | €28,695 | €49,506 | +€20,811 | +72.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.