INOVA: 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.
INOVA
Largest movements
- Tangible fixed assets -€30,140
down €30,140 (-10.0%), from €302,414 to €272,275
of which Land and buildings: -€22,003
- Cash -€7,928
down €7,928 (-97.0%), from €8,176 to €248
mainly Net result for the year (-€32,617) and Debts after one year (-€20,250)
- Receivables within one year -€3,903
down €3,903 (-28.8%), from €13,568 to €9,664
- Profit (loss) carried forward -€32,617
down €32,617 (-62.4%), from €52,244 to €19,627
- Debts after one year -€20,250
down €20,250 (-60.6%), from €33,426 to €13,176
- Short-term financial debts +€17,001
new in 2025: €17,001
- Other debts -€7,764
down €7,764 (-4.8%), from €162,426 to €154,662
- Gross operating margin -€74,333
down €74,333 (-52.7%), from €141,166 to €66,834
- Write-downs -€16,771
no longer reported in 2025 (was €16,771)
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 | €326,958 | €285,068 | -€41,890 | -12.8% |
| Fixed assets | 21/28 | €302,414 | €272,275 | -€30,140 | -10.0% |
| Tangible fixed assets | 22/27 | €302,414 | €272,275 | -€30,140 | -10.0% |
| Land and buildings | 22 | €274,936 | €252,933 | -€22,003 | -8.0% |
| Plant, machinery and equipment | 23 | €1,697 | €360 | -€1,337 | -78.8% |
| Furniture and vehicles | 24 | €25,781 | €18,981 | -€6,799 | -26.4% |
| Current assets | 29/58 | €24,544 | €12,793 | -€11,750 | -47.9% |
| Amounts receivable within one year | 40/41 | €13,568 | €9,664 | -€3,903 | -28.8% |
| Trade receivables | 40 | €13,568 | €9,664 | -€3,903 | -28.8% |
| Cash at bank and in hand | 54/58 | €8,176 | €248 | -€7,928 | -97.0% |
| Deferred charges and accrued income | 490/1 | €2,800 | €2,881 | +€81 | +2.9% |
| Total equity and liabilities | 10/49 | €326,958 | €285,068 | -€41,890 | -12.8% |
| Equity | 10/15 | €107,244 | €74,627 | -€32,617 | -30.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,244 | €19,627 | -€32,617 | -62.4% |
| Amounts payable | 17/49 | €219,715 | €210,441 | -€9,274 | -4.2% |
| Amounts payable after more than one year | 17 | €33,426 | €13,176 | -€20,250 | -60.6% |
| Financial debts | 170/4 | €33,426 | €13,176 | -€20,250 | -60.6% |
| Amounts payable within one year | 42/48 | €186,288 | €197,265 | +€10,977 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €21,031 | €18,776 | -€2,255 | -10.7% |
| Financial debts | 43 | - | €17,001 | +€17,001 | |
| Credit institutions | 430/8 | - | €17,001 | +€17,001 | |
| Trade debts | 44 | €2,831 | €5,936 | +€3,106 | +109.7% |
| Suppliers | 440/4 | €2,831 | €5,936 | +€3,106 | +109.7% |
| Taxes, remuneration and social security | 45 | - | €890 | +€890 | |
| Taxes | 450/3 | - | €890 | +€890 | |
| Other amounts payable | 47/48 | €162,426 | €154,662 | -€7,764 | -4.8% |
| Non-recurring operating income | 76A | €76,545 | - | -€76,545 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,216 | €30,140 | -€76 | -0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €16,771 | - | -€16,771 | |
| Other operating charges | 640/8 | €22,172 | €20,767 | -€1,404 | -6.3% |
| Non-recurring operating charges | 66A | - | €44,500 | +€44,500 | |
| Gross operating margin | 9900 | €141,166 | €66,834 | -€74,333 | -52.7% |
| Operating profit (loss) | 9901 | €72,008 | -€28,574 | -€100,582 | |
| Financial charges | 65/66B | €4,320 | €3,153 | -€1,167 | -27.0% |
| Recurring financial charges | 65 | €4,320 | €3,153 | -€1,167 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | €67,688 | -€31,727 | -€99,415 | |
| Income taxes | 67/77 | €0 | €890 | +€889 | +8894900.0% |
| Profit (loss) for the period | 9904 | €67,688 | -€32,617 | -€100,305 | |
| Profit (loss) for the period to be appropriated | 9905 | €67,688 | -€32,617 | -€100,305 |
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 5 October 2026 via checked.be.