INOVIGATE: 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.
INOVIGATE
Largest movements
- Current investments -€286,817
down €286,817 (-57.5%), from €499,110 to €212,293
- Receivables within one year +€213,026
up €213,026 (+47.1%), from €451,943 to €664,968
of which Trade receivables: +€170,243
- Tangible fixed assets -€58,306
down €58,306 (-73.8%), from €79,047 to €20,741
of which Furniture and vehicles: -€59,257
- Cash +€18,003
up €18,003 (+8.6%), from €210,279 to €228,282
mainly Current investments (+€286,817) and Net result for the year (+€186,215)
- Reserves -€69,872
down €69,872 (-5.5%), from €1.3m to €1.2m
of which Distributable reserves: -€69,872
- Trade debts -€37,081
down €37,081 (-34.6%), from €107,126 to €70,045
- Staff costs +€55,253
up €55,253 (+21.6%), from €255,554 to €310,807
- Taxes -€49,052
down €49,052 (-71.0%), from €69,134 to €20,082
- Gross operating margin +€27,234
up €27,234 (+5.3%), from €511,630 to €538,864
- Depreciation -€15,083
down €15,083 (-48.4%), from €31,136 to €16,052
- Financial income +€6,997
up €6,997 (+55.5%), from €12,600 to €19,597
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 | €1,525,830 | €1,412,221 | -€113,610 | -7.4% |
| Fixed assets | 21/28 | €129,047 | €70,741 | -€58,306 | -45.2% |
| Tangible fixed assets | 22/27 | €79,047 | €20,741 | -€58,306 | -73.8% |
| Plant, machinery and equipment | 23 | €3,261 | €4,211 | +€950 | +29.1% |
| Furniture and vehicles | 24 | €75,786 | €16,529 | -€59,257 | -78.2% |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €1,396,783 | €1,341,480 | -€55,303 | -4.0% |
| Amounts receivable after more than one year | 29 | €227,000 | €227,000 | = | 0.0% |
| Other amounts receivable | 291 | €227,000 | €227,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €451,943 | €664,968 | +€213,026 | +47.1% |
| Trade receivables | 40 | €343,249 | €513,492 | +€170,243 | +49.6% |
| Other amounts receivable | 41 | €108,694 | €151,477 | +€42,783 | +39.4% |
| Current investments | 50/53 | €499,110 | €212,293 | -€286,817 | -57.5% |
| Cash at bank and in hand | 54/58 | €210,279 | €228,282 | +€18,003 | +8.6% |
| Deferred charges and accrued income | 490/1 | €8,452 | €8,937 | +€485 | +5.7% |
| Total equity and liabilities | 10/49 | €1,525,830 | €1,412,221 | -€113,610 | -7.4% |
| Equity | 10/15 | €1,330,221 | €1,260,350 | -€69,872 | -5.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,264,620 | €1,194,748 | -€69,872 | -5.5% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €1,262,620 | €1,192,748 | -€69,872 | -5.5% |
| Profit (loss) carried forward | 14 | €47,001 | €47,001 | = | 0.0% |
| Amounts payable | 17/49 | €195,609 | €151,871 | -€43,738 | -22.4% |
| Amounts payable within one year | 42/48 | €195,609 | €151,871 | -€43,738 | -22.4% |
| Financial debts | 43 | €6,666 | €343 | -€6,323 | -94.9% |
| Credit institutions | 430/8 | €6,666 | €343 | -€6,323 | -94.9% |
| Trade debts | 44 | €107,126 | €70,045 | -€37,081 | -34.6% |
| Suppliers | 440/4 | €107,126 | €70,045 | -€37,081 | -34.6% |
| Taxes, remuneration and social security | 45 | €81,817 | €81,484 | -€333 | -0.4% |
| Taxes | 450/3 | €42,170 | €59,792 | +€17,622 | +41.8% |
| Remuneration and social security | 454/9 | €39,647 | €21,692 | -€17,955 | -45.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €255,554 | €310,807 | +€55,253 | +21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,136 | €16,052 | -€15,083 | -48.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,500 | +€2,500 | |
| Other operating charges | 640/8 | €6,066 | €4,350 | -€1,715 | -28.3% |
| Non-recurring operating charges | 66A | €21,271 | €15,978 | -€5,293 | -24.9% |
| Gross operating margin | 9900 | €511,630 | €538,864 | +€27,234 | +5.3% |
| Operating profit (loss) | 9901 | €197,603 | €189,176 | -€8,428 | -4.3% |
| Financial income | 75/76B | €12,600 | €19,597 | +€6,997 | +55.5% |
| Recurring financial income | 75 | €12,600 | €19,597 | +€6,997 | +55.5% |
| Financial charges | 65/66B | €3,449 | €2,476 | -€973 | -28.2% |
| Recurring financial charges | 65 | €3,449 | €2,476 | -€973 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | €206,754 | €206,297 | -€457 | -0.2% |
| Income taxes | 67/77 | €69,134 | €20,082 | -€49,052 | -71.0% |
| Profit (loss) for the period | 9904 | €137,620 | €186,215 | +€48,595 | +35.3% |
| Profit (loss) for the period to be appropriated | 9905 | €137,620 | €186,215 | +€48,595 | +35.3% |
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.