InnovateX: what changed
Two fiscal 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.
InnovateX
Largest movements
- Cash +€9,741
up €9,741 (+46.3%), from €21,046 to €30,786
mainly Net result for the year (+€13,799) and Depreciation (+€10,956)
- Tangible fixed assets -€8,771
down €8,771 (-24.2%), from €36,189 to €27,418
- Receivables within one year +€5,445
up €5,445 (+36.0%), from €15,125 to €20,570
- Profit (loss) carried forward +€12,133
up €12,133 (+58.1%), from €20,879 to €33,011
- Debts after one year -€10,475
down €10,475 (-56.9%), from €18,418 to €7,943
- Trade debts +€2,830
up €2,830 (+293.6%), from €964 to €3,794
- Tax, wage and social debts +€2,566
up €2,566 (+16.0%), from €16,055 to €18,621
of which Taxes: +€4,766
- Gross operating margin -€17,465
down €17,465 (-35.3%), from €49,471 to €32,006
- Depreciation -€4,457
down €4,457 (-28.9%), from €15,413 to €10,956
- Taxes -€1,991
down €1,991 (-26.5%), from €7,526 to €5,535
- Financial charges -€1,790
down €1,790 (-55.5%), from €3,225 to €1,435
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 | €72,946 | €79,510 | +€6,564 | +9.0% |
| Fixed assets | 21/28 | €36,189 | €27,418 | -€8,771 | -24.2% |
| Tangible fixed assets | 22/27 | €36,189 | €27,418 | -€8,771 | -24.2% |
| Furniture and vehicles | 24 | €36,189 | €27,418 | -€8,771 | -24.2% |
| Current assets | 29/58 | €36,757 | €52,092 | +€15,335 | +41.7% |
| Amounts receivable within one year | 40/41 | €15,125 | €20,570 | +€5,445 | +36.0% |
| Trade receivables | 40 | €15,125 | €20,570 | +€5,445 | +36.0% |
| Cash at bank and in hand | 54/58 | €21,046 | €30,786 | +€9,741 | +46.3% |
| Deferred charges and accrued income | 490/1 | €587 | €736 | +€149 | +25.4% |
| Total equity and liabilities | 10/49 | €72,946 | €79,510 | +€6,564 | +9.0% |
| Equity | 10/15 | €24,879 | €37,011 | +€12,133 | +48.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,879 | €33,011 | +€12,133 | +58.1% |
| Amounts payable | 17/49 | €48,068 | €42,499 | -€5,569 | -11.6% |
| Amounts payable after more than one year | 17 | €18,418 | €7,943 | -€10,475 | -56.9% |
| Financial debts | 170/4 | €18,418 | €7,943 | -€10,475 | -56.9% |
| Amounts payable within one year | 42/48 | €29,650 | €34,556 | +€4,907 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €10,866 | €10,475 | -€391 | -3.6% |
| Trade debts | 44 | €964 | €3,794 | +€2,830 | +293.6% |
| Suppliers | 440/4 | €964 | €3,794 | +€2,830 | +293.6% |
| Taxes, remuneration and social security | 45 | €16,055 | €18,621 | +€2,566 | +16.0% |
| Taxes | 450/3 | €13,855 | €18,621 | +€4,766 | +34.4% |
| Remuneration and social security | 454/9 | €2,200 | €0 | -€2,200 | -100.0% |
| Other amounts payable | 47/48 | €1,765 | €1,666 | -€99 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,413 | €10,956 | -€4,457 | -28.9% |
| Other operating charges | 640/8 | €710 | €284 | -€427 | -60.1% |
| Gross operating margin | 9900 | €49,471 | €32,006 | -€17,465 | -35.3% |
| Operating profit (loss) | 9901 | €33,347 | €20,766 | -€12,581 | -37.7% |
| Financial income | 75/76B | €0 | €2 | +€2 | +10100.0% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +10100.0% |
| Financial charges | 65/66B | €3,225 | €1,435 | -€1,790 | -55.5% |
| Recurring financial charges | 65 | €3,225 | €1,435 | -€1,790 | -55.5% |
| Profit (loss) for the period before taxes | 9903 | €30,122 | €19,333 | -€10,789 | -35.8% |
| Income taxes | 67/77 | €7,526 | €5,535 | -€1,991 | -26.5% |
| Profit (loss) for the period | 9904 | €22,597 | €13,799 | -€8,798 | -38.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,597 | €13,799 | -€8,798 | -38.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.