INOTEC: 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
INOTEC
NACE 28.930, Manufacture of machinery and equipment not elsewhere classified
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €1.5m-€261,336
Equity
€13.7m
2024 · €12.5m+€1.2m
Cash
€464,839
2024 · €545,714-€80,876
Balance sheet total
€14.3m
2024 · €13.3m+€1.1m
Largest movements
Assets
- Receivables after one year +€1.3m
new in 2025: €1.3m
- Stocks and contracts +€327,893
up €327,893 (+180.3%), from €181,847 to €509,740
of which Contracts in progress: +€200,000
- Current investments -€318,558
down €318,558 (-4.6%), from €7.0m to €6.7m
- Tangible fixed assets -€313,129
down €313,129 (-8.4%), from €3.7m to €3.4m
of which Plant, machinery and equipment: -€169,192
- Receivables within one year +€172,401
up €172,401 (+9.6%), from €1.8m to €2.0m
of which Other amounts receivable: +€127,973
Equity and liabilities
- Reserves +€1.2m
up €1.2m (+9.6%), from €12.5m to €13.7m
of which Distributable reserves: +€786,827
Income statement
- Gross operating margin -€281,265
down €281,265 (-12.8%), from €2.2m to €1.9m
- Taxes -€93,417
down €93,417 (-29.9%), from €312,477 to €219,061
- Financial charges +€46,538
up €46,538, from -€13,074 to €33,463
- Financial income -€22,368
down €22,368 (-9.6%), from €232,077 to €209,709
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
€1.5m
Gross operating margin
-€281,265
Staff costs
-€21,198
Depreciation
+€11,864
Other operating charges
+€4,751
Financial income
-€22,368
Financial charges
-€46,538
Taxes
+€93,417
Result 2025
€1.2m
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
-€335,829
Investment
+€314,954
Financing
-€60,000
Cash 2024
€545,714
From operations (derived)
-€335,829
Net result for the year
+€1.2m
Depreciation
+€316,583
Receivables after one year
-€1.3m
Stocks and contracts
-€327,893
Receivables within one year
-€172,401
Smaller working-capital items
-€662
Trade debts
-€114,967
Other debts
+€51,880
Investment (derived)
+€314,954
Investment in fixed assets (net)
-€3,605
Current investments
+€318,558
Financing
-€60,000
Debts after one year
-€60,000
Cash 2025
€464,839
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,261,523 | €14,340,943 | +€1.1m | +8.1% |
| Fixed assets | 21/28 | €3,723,228 | €3,410,250 | -€312,979 | -8.4% |
| Tangible fixed assets | 22/27 | €3,723,228 | €3,410,100 | -€313,129 | -8.4% |
| Land and buildings | 22 | €3,414,474 | €3,278,434 | -€136,040 | -4.0% |
| Plant, machinery and equipment | 23 | €289,887 | €120,695 | -€169,192 | -58.4% |
| Furniture and vehicles | 24 | €18,867 | €10,971 | -€7,896 | -41.9% |
| Financial fixed assets | 28 | - | €150 | +€150 | |
| Current assets | 29/58 | €9,538,295 | €10,930,693 | +€1.4m | +14.6% |
| Amounts receivable after more than one year | 29 | - | €1,290,000 | +€1.3m | |
| Other amounts receivable | 291 | - | €1,290,000 | +€1.3m | |
| Stocks and contracts in progress | 3 | €181,847 | €509,740 | +€327,893 | +180.3% |
| Stocks | 30/36 | €181,847 | €309,740 | +€127,893 | +70.3% |
| Contracts in progress | 37 | - | €200,000 | +€200,000 | |
| Amounts receivable within one year | 40/41 | €1,797,930 | €1,970,332 | +€172,401 | +9.6% |
| Trade receivables | 40 | €1,709,383 | €1,753,812 | +€44,429 | +2.6% |
| Other amounts receivable | 41 | €88,547 | €216,520 | +€127,973 | +144.5% |
| Current investments | 50/53 | €6,980,952 | €6,662,394 | -€318,558 | -4.6% |
| Cash at bank and in hand | 54/58 | €545,714 | €464,839 | -€80,876 | -14.8% |
| Deferred charges and accrued income | 490/1 | €31,852 | €33,389 | +€1,538 | +4.8% |
| Total equity and liabilities | 10/49 | €13,261,523 | €14,340,943 | +€1.1m | +8.1% |
| Equity | 10/15 | €12,516,470 | €13,718,101 | +€1.2m | +9.6% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Contributions outside capital | 11 | €61,973 | €61,973 | = | 0.0% |
| Other | 1109/19 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €12,454,497 | €13,656,128 | +€1.2m | +9.6% |
| Non-distributable reserves | 130/1 | €6,197 | - | -€6,197 | |
| Reserves not available under the articles | 1311 | €6,197 | - | -€6,197 | |
| Tax-exempt reserves | 132 | €687,750 | €1,108,750 | +€421,000 | +61.2% |
| Distributable reserves | 133 | €11,760,550 | €12,547,378 | +€786,827 | +6.7% |
| Amounts payable | 17/49 | €745,053 | €622,842 | -€122,211 | -16.4% |
| Amounts payable after more than one year | 17 | €275,000 | €215,000 | -€60,000 | -21.8% |
| Financial debts | 170/4 | €275,000 | €215,000 | -€60,000 | -21.8% |
| Amounts payable within one year | 42/48 | €459,965 | €399,842 | -€60,122 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €60,000 | €60,000 | = | 0.0% |
| Trade debts | 44 | €232,393 | €117,426 | -€114,967 | -49.5% |
| Suppliers | 440/4 | €232,393 | €117,426 | -€114,967 | -49.5% |
| Taxes, remuneration and social security | 45 | €38,629 | €41,593 | +€2,964 | +7.7% |
| Taxes | 450/3 | €177 | €1,988 | +€1,811 | +1022.8% |
| Remuneration and social security | 454/9 | €38,452 | €39,605 | +€1,153 | +3.0% |
| Other amounts payable | 47/48 | €128,943 | €180,823 | +€51,880 | +40.2% |
| Accrued charges and deferred income | 492/3 | €10,088 | €8,000 | -€2,088 | -20.7% |
| Remuneration, social security and pensions | 62 | €325,205 | €346,402 | +€21,198 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €328,447 | €316,583 | -€11,864 | -3.6% |
| Other operating charges | 640/8 | €20,715 | €15,964 | -€4,751 | -22.9% |
| Gross operating margin | 9900 | €2,204,659 | €1,923,394 | -€281,265 | -12.8% |
| Operating profit (loss) | 9901 | €1,530,293 | €1,244,445 | -€285,847 | -18.7% |
| Financial income | 75/76B | €232,077 | €209,709 | -€22,368 | -9.6% |
| Recurring financial income | 75 | €232,077 | €209,709 | -€22,368 | -9.6% |
| Financial charges | 65/66B | -€13,074 | €33,463 | +€46,538 | |
| Recurring financial charges | 65 | -€13,074 | €33,463 | +€46,538 | |
| Profit (loss) for the period before taxes | 9903 | €1,775,444 | €1,420,691 | -€354,753 | -20.0% |
| Income taxes | 67/77 | €312,477 | €219,061 | -€93,417 | -29.9% |
| Profit (loss) for the period | 9904 | €1,462,967 | €1,201,630 | -€261,336 | -17.9% |
| Transfer to tax-exempt reserves | 689 | €421,000 | €421,000 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,041,967 | €780,630 | -€261,336 | -25.1% |
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 10 October 2026 via checked.be.