INOFEC: 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
INOFEC
NACE 46.500, Wholesale of information and communication equipment
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€345,687
2024 · €469,145-€123,458
Equity
€3.9m
2024 · €3.6m+€340,389
Cash
€1.6m
2024 · €869,610+€701,462
Balance sheet total
€7.2m
2024 · €7.9m-€710,568
Largest movements
Assets
- Receivables within one year -€1.1m
down €1.1m (-46.6%), from €2.3m to €1.3m
of which Trade receivables: -€1.1m
- Cash +€701,462
up €701,462 (+80.7%), from €869,610 to €1.6m
mainly Receivables within one year (+€1.1m) and Net result for the year (+€345,687)
- Tangible fixed assets -€213,892
down €213,892 (-7.3%), from €2.9m to €2.7m
of which Land and buildings: -€212,936
- Stocks and contracts -€102,270
down €102,270 (-6.5%), from €1.6m to €1.5m
Equity and liabilities
- Trade debts -€588,603
down €588,603 (-52.6%), from €1.1m to €530,501
- Reserves +€400,000
up €400,000 (+11.8%), from €3.4m to €3.8m
- Debts after one year -€362,396
down €362,396 (-24.6%), from €1.5m to €1.1m
- Other debts -€300,000
no longer reported in 2025 (was €300,000)
- Advances received +€116,317
up €116,317 (+69.5%), from €167,444 to €283,761
Income statement
- Turnover -€283,583
down €283,583 (-2.5%), from €11.5m to €11.2m
- Goods and materials -€153,768
down €153,768 (-2.1%), from €7.4m to €7.2m
of which Purchases: -€181,330
- Staff costs +€142,842
up €142,842 (+7.8%), from €1.8m to €2.0m
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
€469,145
Turnover
-€283,583
Other operating income
+€18,053
Goods and materials
+€153,768
Services and other goods
+€46,774
Staff costs
-€142,842
Depreciation
+€27,253
Write-downs
+€11,180
Provisions
+€10,860
Other operating charges
-€1,851
Other operating items
+€7,727
Financial income
-€1,339
Financial charges
+€1,955
Taxes
+€28,586
Result 2025
€345,687
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.
From operations
+€1.2m
Investment
-€96,799
Financing
-€361,609
Cash 2024
€869,610
From operations (derived)
+€1.2m
Net result for the year
+€345,687
Depreciation
+€311,186
Stocks and contracts
+€102,270
Receivables within one year
+€1.1m
Deferred charges and accrued income
+€3,905
Provisions
+€34,863
Trade debts
-€588,603
Tax, wage and social debts
+€42,778
Advances received
+€116,317
Other debts
-€300,000
Investment (derived)
-€96,799
Investment in fixed assets (net)
-€96,799
Financing
-€361,609
Debts after one year
-€362,396
Current portion of long-term debt
+€6,084
Contributions, distributions and other
-€5,297
Cash 2025
€1.6m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,861,945 | €7,151,377 | -€710,568 | -9.0% |
| Fixed assets | 21/28 | €2,924,040 | €2,709,653 | -€214,387 | -7.3% |
| Intangible fixed assets | 21 | €495 | - | -€495 | |
| Tangible fixed assets | 22/27 | €2,922,854 | €2,708,962 | -€213,892 | -7.3% |
| Land and buildings | 22 | €2,701,356 | €2,488,420 | -€212,936 | -7.9% |
| Plant, machinery and equipment | 23 | €39,373 | €41,081 | +€1,708 | +4.3% |
| Furniture and vehicles | 24 | €182,125 | €179,462 | -€2,663 | -1.5% |
| Financial fixed assets | 28 | €691 | €691 | = | 0.0% |
| Other financial fixed assets | 284/8 | €691 | €691 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €691 | €691 | = | 0.0% |
| Current assets | 29/58 | €4,937,905 | €4,441,724 | -€496,181 | -10.0% |
| Stocks and contracts in progress | 3 | €1,568,195 | €1,465,925 | -€102,270 | -6.5% |
| Stocks | 30/36 | €1,568,195 | €1,465,925 | -€102,270 | -6.5% |
| Goods purchased for resale | 34 | €1,568,195 | €1,465,925 | -€102,270 | -6.5% |
| Amounts receivable within one year | 40/41 | €2,344,162 | €1,252,694 | -€1.1m | -46.6% |
| Trade receivables | 40 | €2,307,822 | €1,229,841 | -€1.1m | -46.7% |
| Other amounts receivable | 41 | €36,339 | €22,853 | -€13,486 | -37.1% |
| Cash at bank and in hand | 54/58 | €869,610 | €1,571,072 | +€701,462 | +80.7% |
| Deferred charges and accrued income | 490/1 | €155,939 | €152,034 | -€3,905 | -2.5% |
| Total equity and liabilities | 10/49 | €7,861,945 | €7,151,377 | -€710,568 | -9.0% |
| Equity | 10/15 | €3,555,106 | €3,895,495 | +€340,389 | +9.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,400,000 | €3,800,000 | +€400,000 | +11.8% |
| Distributable reserves | 133 | €3,400,000 | €3,800,000 | +€400,000 | +11.8% |
| Profit (loss) carried forward | 14 | €67,637 | €13,323 | -€54,313 | -80.3% |
| Investment grants | 15 | €68,869 | €63,571 | -€5,297 | -7.7% |
| Provisions and deferred taxes | 16 | €516,467 | €551,330 | +€34,863 | +6.8% |
| Provisions for liabilities and charges | 160/5 | €508,041 | €543,552 | +€35,511 | +7.0% |
| Other liabilities and charges | 164/5 | €508,041 | €543,552 | +€35,511 | +7.0% |
| Deferred taxes | 168 | €8,426 | €7,778 | -€648 | -7.7% |
| Amounts payable | 17/49 | €3,790,372 | €2,704,553 | -€1.1m | -28.6% |
| Amounts payable after more than one year | 17 | €1,471,270 | €1,108,875 | -€362,396 | -24.6% |
| Financial debts | 170/4 | €1,471,270 | €1,108,875 | -€362,396 | -24.6% |
| Credit institutions | 173 | €1,471,270 | €1,108,875 | -€362,396 | -24.6% |
| Amounts payable within one year | 42/48 | €2,319,102 | €1,595,678 | -€723,424 | -31.2% |
| Current portion of amounts payable after more than one year | 42 | €356,311 | €362,396 | +€6,084 | +1.7% |
| Trade debts | 44 | €1,119,104 | €530,501 | -€588,603 | -52.6% |
| Suppliers | 440/4 | €1,119,104 | €530,501 | -€588,603 | -52.6% |
| Advances received on contracts in progress | 46 | €167,444 | €283,761 | +€116,317 | +69.5% |
| Taxes, remuneration and social security | 45 | €376,242 | €419,020 | +€42,778 | +11.4% |
| Taxes | 450/3 | €155,655 | €183,449 | +€27,795 | +17.9% |
| Remuneration and social security | 454/9 | €220,588 | €235,571 | +€14,983 | +6.8% |
| Other amounts payable | 47/48 | €300,000 | - | -€300,000 | |
| Operating income | 70/76A | €11,544,332 | €11,286,529 | -€257,803 | -2.2% |
| Turnover | 70 | €11,488,279 | €11,204,696 | -€283,583 | -2.5% |
| Other operating income | 74 | €56,053 | €74,106 | +€18,053 | +32.2% |
| Non-recurring operating income | 76A | - | €7,727 | +€7,727 | |
| Operating charges | 60/66A | €10,923,539 | €10,818,396 | -€105,143 | -1.0% |
| Goods for resale, raw materials and consumables | 60 | €7,398,727 | €7,244,959 | -€153,768 | -2.1% |
| Purchases | 600/8 | €7,337,326 | €7,155,995 | -€181,330 | -2.5% |
| Change in stocks: decrease (increase) | 609 | €61,401 | €88,964 | +€27,562 | +44.9% |
| Services and other goods | 61 | €1,225,110 | €1,178,336 | -€46,774 | -3.8% |
| Remuneration, social security and pensions | 62 | €1,831,926 | €1,974,768 | +€142,842 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €338,439 | €311,186 | -€27,253 | -8.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €29,529 | €18,349 | -€11,180 | -37.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €46,371 | €35,511 | -€10,860 | -23.4% |
| Other operating charges | 640/8 | €53,437 | €55,287 | +€1,851 | +3.5% |
| Operating profit (loss) | 9901 | €620,793 | €468,132 | -€152,660 | -24.6% |
| Financial income | 75/76B | €71,681 | €70,342 | -€1,339 | -1.9% |
| Recurring financial income | 75 | €71,681 | €70,342 | -€1,339 | -1.9% |
| Other financial income | 752/9 | €71,681 | €70,342 | -€1,339 | -1.9% |
| Financial charges | 65/66B | €43,279 | €41,324 | -€1,955 | -4.5% |
| Recurring financial charges | 65 | €43,279 | €41,324 | -€1,955 | -4.5% |
| Debt charges | 650 | €35,315 | €31,555 | -€3,760 | -10.6% |
| Other financial charges | 652/9 | €7,964 | €9,769 | +€1,805 | +22.7% |
| Profit (loss) for the period before taxes | 9903 | €649,195 | €497,151 | -€152,044 | -23.4% |
| Income taxes | 67/77 | €180,050 | €151,464 | -€28,586 | -15.9% |
| Taxes | 670/3 | €180,050 | €151,464 | -€28,586 | -15.9% |
| Profit (loss) for the period | 9904 | €469,145 | €345,687 | -€123,458 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €469,145 | €345,687 | -€123,458 | -26.3% |
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 12 October 2026 via checked.be.