INNOVATIO: 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.
INNOVATIO
Largest movements
- Receivables within one year +€24,693
up €24,693 (+364%), from €6,781 to €31,475
of which Trade receivables: +€24,534
- Cash -€23,562
down €23,562 (-9.8%), from €239,554 to €215,991
mainly Other debts (-€59,131) and Receivables within one year (-€24,693)
- Tangible fixed assets -€22,594
down €22,594 (-8.4%), from €270,347 to €247,753
of which Land and buildings: -€27,294
- Other debts -€59,131
down €59,131 (-34.7%), from €170,165 to €111,034
- Reserves +€52,247
up €52,247 (+138%), from €37,802 to €90,049
- Debts after one year -€14,049
down €14,049 (-25.5%), from €55,093 to €41,044
- Tax, wage and social debts -€6,703
down €6,703 (-35.6%), from €18,810 to €12,107
- Gross operating margin -€24,370
down €24,370 (-16.7%), from €145,761 to €121,392
- Financial charges -€9,711
down €9,711 (-71.2%), from €13,636 to €3,926
- Depreciation -€5,436
down €5,436 (-14.1%), from €38,524 to €33,088
- Other operating charges +€3,200
up €3,200 (+77.8%), from €4,115 to €7,314
- Taxes -€2,965
down €2,965 (-10.4%), from €28,388 to €25,424
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 | €530,059 | €505,305 | -€24,754 | -4.7% |
| Fixed assets | 21/28 | €270,347 | €247,753 | -€22,594 | -8.4% |
| Tangible fixed assets | 22/27 | €270,347 | €247,753 | -€22,594 | -8.4% |
| Land and buildings | 22 | €267,233 | €239,939 | -€27,294 | -10.2% |
| Plant, machinery and equipment | 23 | €2,427 | €870 | -€1,557 | -64.1% |
| Furniture and vehicles | 24 | €688 | €6,944 | +€6,257 | +910% |
| Current assets | 29/58 | €259,711 | €257,552 | -€2,160 | -0.8% |
| Amounts receivable within one year | 40/41 | €6,781 | €31,475 | +€24,693 | +364% |
| Trade receivables | 40 | €6,781 | €31,316 | +€24,534 | +362% |
| Other amounts receivable | 41 | €0 | €159 | +€159 | |
| Current investments | 50/53 | €5,000 | €5,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €239,554 | €215,991 | -€23,562 | -9.8% |
| Deferred charges and accrued income | 490/1 | €8,376 | €5,086 | -€3,291 | -39.3% |
| Total equity and liabilities | 10/49 | €530,059 | €505,305 | -€24,754 | -4.7% |
| Equity | 10/15 | €254,802 | €307,049 | +€52,247 | +20.5% |
| Contributions | 10/11 | €217,000 | €217,000 | = | 0.0% |
| Reserves | 13 | €37,802 | €90,049 | +€52,247 | +138% |
| Distributable reserves | 133 | €37,802 | €90,049 | +€52,247 | +138% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €275,257 | €198,256 | -€77,001 | -28.0% |
| Amounts payable after more than one year | 17 | €55,093 | €41,044 | -€14,049 | -25.5% |
| Financial debts | 170/4 | €55,093 | €41,044 | -€14,049 | -25.5% |
| Amounts payable within one year | 42/48 | €203,522 | €140,729 | -€62,793 | -30.9% |
| Current portion of amounts payable after more than one year | 42 | €13,372 | €14,049 | +€678 | +5.1% |
| Trade debts | 44 | €1,175 | €3,539 | +€2,363 | +201% |
| Suppliers | 440/4 | €1,175 | €3,539 | +€2,363 | +201% |
| Taxes, remuneration and social security | 45 | €18,810 | €12,107 | -€6,703 | -35.6% |
| Taxes | 450/3 | €18,810 | €12,107 | -€6,703 | -35.6% |
| Other amounts payable | 47/48 | €170,165 | €111,034 | -€59,131 | -34.7% |
| Accrued charges and deferred income | 492/3 | €16,642 | €16,483 | -€159 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,524 | €33,088 | -€5,436 | -14.1% |
| Other operating charges | 640/8 | €4,115 | €7,314 | +€3,200 | +77.8% |
| Gross operating margin | 9900 | €145,761 | €121,392 | -€24,370 | -16.7% |
| Operating profit (loss) | 9901 | €103,122 | €80,990 | -€22,133 | -21.5% |
| Financial income | 75/76B | €472 | €607 | +€135 | +28.7% |
| Recurring financial income | 75 | €472 | €607 | +€135 | +28.7% |
| Financial charges | 65/66B | €13,636 | €3,926 | -€9,711 | -71.2% |
| Recurring financial charges | 65 | €13,636 | €3,926 | -€9,711 | -71.2% |
| Profit (loss) for the period before taxes | 9903 | €89,958 | €77,671 | -€12,287 | -13.7% |
| Income taxes | 67/77 | €28,388 | €25,424 | -€2,965 | -10.4% |
| Profit (loss) for the period | 9904 | €61,569 | €52,247 | -€9,322 | -15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €61,569 | €52,247 | -€9,322 | -15.1% |
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 17 October 2026 via checked.be.