INOVA: 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.
INOVA
Largest movements
- Tangible fixed assets -€47,210
down €47,210 (-9.4%), from €499,875 to €452,666
of which Land and buildings: -€28,874
- Cash +€12,596
up €12,596 (+33.5%), from €37,610 to €50,206
mainly Depreciation (+€56,999) and Net result for the year (+€8,770)
- Debts after one year -€26,153
down €26,153 (-5.4%), from €480,137 to €453,984
of which Financial debts: -€31,778
- Advances received -€14,955
down €14,955 (-100%), from €14,955 to €0
- Reserves +€8,770
up €8,770 (+5.8%), from €152,373 to €161,144
- Gross operating margin +€46,233
up €46,233 (+10.8%), from €428,200 to €474,433
- Financial charges +€6,460
up €6,460 (+77.5%), from €8,330 to €14,790
of which Financial charges: +€8,576
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 | €841,450 | €807,865 | -€33,584 | -4.0% |
| Fixed assets | 21/28 | €499,875 | €454,166 | -€45,710 | -9.1% |
| Tangible fixed assets | 22/27 | €499,875 | €452,666 | -€47,210 | -9.4% |
| Land and buildings | 22 | €407,169 | €378,295 | -€28,874 | -7.1% |
| Plant, machinery and equipment | 23 | €36,761 | €37,071 | +€310 | +0.8% |
| Furniture and vehicles | 24 | €55,946 | €37,299 | -€18,646 | -33.3% |
| Financial fixed assets | 28 | - | €1,500 | +€1,500 | |
| Current assets | 29/58 | €341,574 | €353,700 | +€12,125 | +3.5% |
| Amounts receivable after more than one year | 29 | €2,578 | €2,578 | = | 0.0% |
| Other amounts receivable | 291 | €2,578 | €2,578 | = | 0.0% |
| Stocks and contracts in progress | 3 | €6,768 | €6,950 | +€183 | +2.7% |
| Stocks | 30/36 | €6,768 | €6,950 | +€183 | +2.7% |
| Amounts receivable within one year | 40/41 | €287,442 | €279,405 | -€8,037 | -2.8% |
| Trade receivables | 40 | €28,442 | €17,668 | -€10,774 | -37.9% |
| Other amounts receivable | 41 | €259,000 | €261,737 | +€2,737 | +1.1% |
| Cash at bank and in hand | 54/58 | €37,610 | €50,206 | +€12,596 | +33.5% |
| Deferred charges and accrued income | 490/1 | €7,177 | €14,561 | +€7,384 | +103% |
| Total equity and liabilities | 10/49 | €841,450 | €807,865 | -€33,584 | -4.0% |
| Equity | 10/15 | €170,923 | €179,694 | +€8,770 | +5.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €152,373 | €161,144 | +€8,770 | +5.8% |
| Distributable reserves | 133 | €152,373 | €161,144 | +€8,770 | +5.8% |
| Amounts payable | 17/49 | €670,526 | €628,172 | -€42,355 | -6.3% |
| Amounts payable after more than one year | 17 | €480,137 | €453,984 | -€26,153 | -5.4% |
| Financial debts | 170/4 | €56,804 | €25,026 | -€31,778 | -55.9% |
| Other amounts payable | 178/9 | €423,333 | €428,958 | +€5,625 | +1.3% |
| Amounts payable within one year | 42/48 | €187,474 | €171,978 | -€15,497 | -8.3% |
| Current portion of amounts payable after more than one year | 42 | €32,385 | €33,246 | +€861 | +2.7% |
| Trade debts | 44 | €39,704 | €31,634 | -€8,070 | -20.3% |
| Suppliers | 440/4 | €39,704 | €31,634 | -€8,070 | -20.3% |
| Advances received on contracts in progress | 46 | €14,955 | €0 | -€14,955 | -100% |
| Taxes, remuneration and social security | 45 | €60,811 | €66,341 | +€5,530 | +9.1% |
| Taxes | 450/3 | €26,079 | €31,832 | +€5,753 | +22.1% |
| Remuneration and social security | 454/9 | €34,733 | €34,509 | -€224 | -0.6% |
| Other amounts payable | 47/48 | €39,620 | €40,757 | +€1,137 | +2.9% |
| Accrued charges and deferred income | 492/3 | €2,915 | €2,211 | -€705 | -24.2% |
| Remuneration, social security and pensions | 62 | €384,573 | €385,866 | +€1,294 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,972 | €56,999 | +€2,027 | +3.7% |
| Other operating charges | 640/8 | €2,561 | €5,575 | +€3,014 | +118% |
| Gross operating margin | 9900 | €428,200 | €474,433 | +€46,233 | +10.8% |
| Operating profit (loss) | 9901 | -€13,906 | €25,993 | +€39,899 | |
| Financial income | 75/76B | €178 | €104 | -€75 | -41.9% |
| Recurring financial income | 75 | €178 | €104 | -€75 | -41.9% |
| Financial charges | 65/66B | €8,330 | €14,790 | +€6,460 | +77.5% |
| Recurring financial charges | 65 | €6,214 | €14,790 | +€8,576 | +138% |
| Non-recurring financial charges | 66B | €2,116 | €0 | -€2,116 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€22,057 | €11,307 | +€33,364 | |
| Income taxes | 67/77 | €270 | €2,536 | +€2,266 | +839% |
| Profit (loss) for the period | 9904 | -€22,327 | €8,770 | +€31,098 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,327 | €8,770 | +€31,098 |
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 18 October 2026 via checked.be.