Inoxal: what changed
What changed
Inoxal
NACE 31.009, Manufacture of furniture
filed annual accounts (NBB)
Net result for the year
-€172,793
2024 · -€28,034-€144,759
Equity
-€74,525
2024 · €98,269-€172,793
Cash
€50,293
2024 · €85,357-€35,064
Balance sheet total
€1.7m
2024 · €1.9m-€166,434
Largest movements
Assets
- Stocks and contracts -€104,680
down €104,680 (-38.7%), from €270,271 to €165,591
- Tangible fixed assets -€91,378
down €91,378 (-6.4%), from €1.4m to €1.3m
of which Land and buildings: -€74,250
- Receivables within one year +€64,688
up €64,688 (+84.7%), from €76,392 to €141,079
- Cash -€35,064
down €35,064 (-41.1%), from €85,357 to €50,293
mainly Net result for the year (-€172,793) and Debts after one year (-€84,180)
Equity and liabilities
- Profit (loss) carried forward -€172,793
down €172,793 (-419%), from -€41,267 to -€214,061
- Debts after one year -€84,180
down €84,180 (-7.4%), from €1.1m to €1.1m
- Other debts +€80,000
up €80,000 (+45.5%), from €175,750 to €255,750
- Current portion of long-term debt -€67,601
down €67,601 (-44.5%), from €151,781 to €84,180
- Trade debts +€50,949
up €50,949 (+31.4%), from €162,201 to €213,150
Income statement
- Gross operating margin -€111,413
down €111,413 (-21.3%), from €521,951 to €410,538
- Financial charges +€17,714
up €17,714 (+48.1%), from €36,846 to €54,560
- Staff costs +€15,593
up €15,593 (+3.8%), from €410,058 to €425,651
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€28,034
Gross operating margin
-€111,413
Staff costs
-€15,593
Depreciation
-€185
Other operating charges
-€934
Financial income
-€40
Financial charges
-€17,714
Taxes
+€1,120
Result 2025
-€172,793
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€98,515
Investment
-€1,798
Financing
-€131,781
Cash 2024
€85,357
From operations (derived)
+€98,515
Net result for the year
-€172,793
Depreciation
+€93,176
Stocks and contracts
+€104,680
Receivables within one year
-€64,688
Trade debts
+€50,949
Tax, wage and social debts
+€7,191
Other debts
+€80,000
Investment (derived)
-€1,798
Investment in fixed assets (net)
-€1,798
Financing
-€131,781
Debts after one year
-€84,180
Current portion of long-term debt
-€67,601
Short-term financial debts
+€20,000
Cash 2025
€50,293
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,856,249 | €1,689,815 | -€166,434 | -9.0% |
| Fixed assets | 21/28 | €1,424,230 | €1,332,852 | -€91,378 | -6.4% |
| Tangible fixed assets | 22/27 | €1,424,230 | €1,332,852 | -€91,378 | -6.4% |
| Land and buildings | 22 | €1,374,123 | €1,299,872 | -€74,250 | -5.4% |
| Plant, machinery and equipment | 23 | €34,552 | €23,541 | -€11,011 | -31.9% |
| Furniture and vehicles | 24 | €6,405 | €4,870 | -€1,535 | -24.0% |
| Leasing and similar rights | 25 | €9,150 | €4,569 | -€4,581 | -50.1% |
| Current assets | 29/58 | €432,019 | €356,963 | -€75,056 | -17.4% |
| Stocks and contracts in progress | 3 | €270,271 | €165,591 | -€104,680 | -38.7% |
| Stocks | 30/36 | €270,271 | €165,591 | -€104,680 | -38.7% |
| Amounts receivable within one year | 40/41 | €76,392 | €141,079 | +€64,688 | +84.7% |
| Trade receivables | 40 | €76,392 | €141,079 | +€64,688 | +84.7% |
| Cash at bank and in hand | 54/58 | €85,357 | €50,293 | -€35,064 | -41.1% |
| Total equity and liabilities | 10/49 | €1,856,249 | €1,689,815 | -€166,434 | -9.0% |
| Equity | 10/15 | €98,269 | -€74,525 | -€172,793 | |
| Contributions | 10/11 | €94,819 | €94,819 | = | 0.0% |
| Reserves | 13 | €44,717 | €44,717 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,482 | €9,482 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,482 | €9,482 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,648 | €1,648 | = | 0.0% |
| Distributable reserves | 133 | €33,587 | €33,587 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,267 | -€214,061 | -€172,793 | -419% |
| Amounts payable | 17/49 | €1,757,980 | €1,764,339 | +€6,359 | +0.4% |
| Amounts payable after more than one year | 17 | €1,134,199 | €1,050,018 | -€84,180 | -7.4% |
| Financial debts | 170/4 | €1,134,199 | €1,050,018 | -€84,180 | -7.4% |
| Amounts payable within one year | 42/48 | €623,781 | €714,321 | +€90,540 | +14.5% |
| Current portion of amounts payable after more than one year | 42 | €151,781 | €84,180 | -€67,601 | -44.5% |
| Financial debts | 43 | €80,000 | €100,000 | +€20,000 | +25.0% |
| Credit institutions | 430/8 | €80,000 | €100,000 | +€20,000 | +25.0% |
| Trade debts | 44 | €162,201 | €213,150 | +€50,949 | +31.4% |
| Suppliers | 440/4 | €162,201 | €213,150 | +€50,949 | +31.4% |
| Taxes, remuneration and social security | 45 | €54,050 | €61,241 | +€7,191 | +13.3% |
| Taxes | 450/3 | €9,143 | €12,015 | +€2,871 | +31.4% |
| Remuneration and social security | 454/9 | €44,906 | €49,226 | +€4,320 | +9.6% |
| Other amounts payable | 47/48 | €175,750 | €255,750 | +€80,000 | +45.5% |
| Remuneration, social security and pensions | 62 | €410,058 | €425,651 | +€15,593 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,990 | €93,176 | +€185 | +0.2% |
| Other operating charges | 640/8 | €9,011 | €9,946 | +€934 | +10.4% |
| Gross operating margin | 9900 | €521,951 | €410,538 | -€111,413 | -21.3% |
| Operating profit (loss) | 9901 | €9,891 | -€118,234 | -€128,125 | |
| Financial income | 75/76B | €41 | €1 | -€40 | -97.8% |
| Recurring financial income | 75 | €41 | €1 | -€40 | -97.8% |
| Financial charges | 65/66B | €36,846 | €54,560 | +€17,714 | +48.1% |
| Recurring financial charges | 65 | €36,846 | €54,560 | +€17,714 | +48.1% |
| Profit (loss) for the period before taxes | 9903 | -€26,914 | -€172,793 | -€145,879 | -542% |
| Income taxes | 67/77 | €1,120 | - | -€1,120 | |
| Profit (loss) for the period | 9904 | -€28,034 | -€172,793 | -€144,759 | -516% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,034 | -€172,793 | -€144,759 | -516% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.