INPE FARMA: what changed
What changed
INPE FARMA
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€476,802
2024 · €471,835+€4,967
Equity
€2.8m
2024 · €2.3m+€476,802
Cash
€283,241
2024 · €492,220-€208,980
Balance sheet total
€3.6m
2024 · €3.6m+€49,262
Largest movements
Assets
- Tangible fixed assets +€282,590
up €282,590 (+16.6%), from €1.7m to €2.0m
of which Plant, machinery and equipment: +€259,729
- Cash -€208,980
down €208,980 (-42.5%), from €492,220 to €283,241
mainly Investment in fixed assets (net) (-€418,380) and Other debts (-€242,355)
Equity and liabilities
- Reserves +€476,802
up €476,802 (+20.8%), from €2.3m to €2.8m
of which Distributable reserves: +€351,609
- Other debts -€242,355
down €242,355 (-45.4%), from €533,356 to €291,001
- Tax, wage and social debts -€84,462
no longer reported in 2025 (was €84,462)
of which Taxes: -€75,707
- Debts after one year -€75,714
down €75,714 (-17.5%), from €433,036 to €357,322
Income statement
- Gross operating margin +€78,099
up €78,099 (+10.0%), from €779,180 to €857,278
- Depreciation +€61,298
up €61,298 (+71.7%), from €85,493 to €146,790
- Taxes +€31,263
up €31,263 (+18.6%), from €167,912 to €199,175
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
€471,835
Gross operating margin
+€78,099
Depreciation
-€61,298
Other operating charges
+€1,048
Financial income
-€3,272
Financial charges
-€130
Taxes
-€31,263
Deferred taxes and other
+€21,782
Result 2025
€476,802
raises the resultlowers the resultnot broken down further in the accounts
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
+€315,135
Investment
-€448,401
Financing
-€75,714
Cash 2024
€492,220
From operations (derived)
+€315,135
Net result for the year
+€476,802
Depreciation
+€146,790
Receivables within one year
+€14,878
Deferred charges and accrued income
+€28,490
Smaller working-capital items
-€1,434
Trade debts
-€23,574
Tax, wage and social debts
-€84,462
Other debts
-€242,355
Investment (derived)
-€448,401
Investment in fixed assets (net)
-€418,380
Current investments
-€30,020
Financing
-€75,714
Debts after one year
-€75,714
Cash 2025
€283,241
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,555,088 | €3,604,350 | +€49,262 | +1.4% |
| Fixed assets | 21/28 | €2,536,229 | €2,807,819 | +€271,590 | +10.7% |
| Intangible fixed assets | 21 | €90,742 | €79,742 | -€11,000 | -12.1% |
| Tangible fixed assets | 22/27 | €1,701,806 | €1,984,396 | +€282,590 | +16.6% |
| Land and buildings | 22 | €1,199,468 | €1,221,184 | +€21,717 | +1.8% |
| Plant, machinery and equipment | 23 | €462,444 | €722,172 | +€259,729 | +56.2% |
| Furniture and vehicles | 24 | €15,888 | €12,132 | -€3,755 | -23.6% |
| Other tangible fixed assets | 26 | €24,007 | €28,907 | +€4,900 | +20.4% |
| Financial fixed assets | 28 | €743,681 | €743,681 | = | 0.0% |
| Current assets | 29/58 | €1,018,859 | €796,531 | -€222,328 | -21.8% |
| Amounts receivable within one year | 40/41 | €35,266 | €20,388 | -€14,878 | -42.2% |
| Trade receivables | 40 | €28,214 | €10,319 | -€17,895 | -63.4% |
| Other amounts receivable | 41 | €7,053 | €10,069 | +€3,017 | +42.8% |
| Current investments | 50/53 | €446,591 | €476,612 | +€30,020 | +6.7% |
| Cash at bank and in hand | 54/58 | €492,220 | €283,241 | -€208,980 | -42.5% |
| Deferred charges and accrued income | 490/1 | €44,781 | €16,291 | -€28,490 | -63.6% |
| Total equity and liabilities | 10/49 | €3,555,088 | €3,604,350 | +€49,262 | +1.4% |
| Equity | 10/15 | €2,311,940 | €2,788,742 | +€476,802 | +20.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,293,348 | €2,770,150 | +€476,802 | +20.8% |
| Tax-exempt reserves | 132 | €443,138 | €568,330 | +€125,193 | +28.3% |
| Distributable reserves | 133 | €1,850,210 | €2,201,820 | +€351,609 | +19.0% |
| Provisions and deferred taxes | 16 | €21,413 | €21,043 | -€369 | -1.7% |
| Deferred taxes | 168 | €21,413 | €21,043 | -€369 | -1.7% |
| Amounts payable | 17/49 | €1,221,736 | €794,565 | -€427,171 | -35.0% |
| Amounts payable after more than one year | 17 | €433,036 | €357,322 | -€75,714 | -17.5% |
| Financial debts | 170/4 | €433,036 | €357,322 | -€75,714 | -17.5% |
| Amounts payable within one year | 42/48 | €758,383 | €407,991 | -€350,392 | -46.2% |
| Current portion of amounts payable after more than one year | 42 | €75,714 | €75,714 | = | 0.0% |
| Trade debts | 44 | €64,850 | €41,276 | -€23,574 | -36.4% |
| Suppliers | 440/4 | €64,850 | €41,276 | -€23,574 | -36.4% |
| Taxes, remuneration and social security | 45 | €84,462 | - | -€84,462 | |
| Taxes | 450/3 | €75,707 | - | -€75,707 | |
| Remuneration and social security | 454/9 | €8,755 | - | -€8,755 | |
| Other amounts payable | 47/48 | €533,356 | €291,001 | -€242,355 | -45.4% |
| Accrued charges and deferred income | 492/3 | €30,317 | €29,252 | -€1,065 | -3.5% |
| Non-recurring operating income | 76A | €88,487 | €6,155 | -€82,332 | -93.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,493 | €146,790 | +€61,298 | +71.7% |
| Other operating charges | 640/8 | €8,517 | €7,469 | -€1,048 | -12.3% |
| Gross operating margin | 9900 | €779,180 | €857,278 | +€78,099 | +10.0% |
| Operating profit (loss) | 9901 | €685,170 | €703,019 | +€17,849 | +2.6% |
| Financial income | 75/76B | €18,043 | €14,772 | -€3,272 | -18.1% |
| Recurring financial income | 75 | €18,043 | €14,772 | -€3,272 | -18.1% |
| Financial charges | 65/66B | €42,053 | €42,183 | +€130 | +0.3% |
| Recurring financial charges | 65 | €42,053 | €42,183 | +€130 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €661,160 | €675,607 | +€14,448 | +2.2% |
| Transfer from deferred taxes | 780 | €709 | €369 | -€340 | -47.9% |
| Transfer to deferred taxes | 680 | €22,122 | - | -€22,122 | |
| Income taxes | 67/77 | €167,912 | €199,175 | +€31,263 | +18.6% |
| Profit (loss) for the period | 9904 | €471,835 | €476,802 | +€4,967 | +1.1% |
| Transfer from tax-exempt reserves | 789 | €73,327 | €1,107 | -€72,220 | -98.5% |
| Transfer to tax-exempt reserves | 689 | €192,665 | €126,300 | -€66,365 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €352,497 | €351,609 | -€888 | -0.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.