INPEDI: 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.
INPEDI
Largest movements
- Receivables after one year +€660,000
new in 2025: €660,000
- Cash -€456,006
down €456,006 (-56.8%), from €803,268 to €347,262
mainly Receivables after one year (-€660,000) and Contributions, distributions and other (-€250,000)
- Tangible fixed assets -€99,888
down €99,888 (-30.2%), from €330,619 to €230,731
of which Land and buildings: -€99,118
- Receivables within one year -€87,488
down €87,488 (-90.9%), from €96,264 to €8,776
- Reserves +€13,295
up €13,295 (+1.1%), from €1.2m to €1.2m
of which Non-distributable reserves: +€263,295
- Gross operating margin +€360,168
up €360,168 (+1072.0%), from €33,597 to €393,765
- Taxes +€113,581
up €113,581 (+1796.8%), from €6,321 to €119,903
- Financial income +€4,701
up €4,701 (+88.6%), from €5,304 to €10,005
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 | €1,230,645 | €1,246,769 | +€16,125 | +1.3% |
| Fixed assets | 21/28 | €330,619 | €230,731 | -€99,888 | -30.2% |
| Tangible fixed assets | 22/27 | €330,619 | €230,731 | -€99,888 | -30.2% |
| Land and buildings | 22 | €329,282 | €230,164 | -€99,118 | -30.1% |
| Plant, machinery and equipment | 23 | €1,337 | €567 | -€770 | -57.6% |
| Current assets | 29/58 | €900,026 | €1,016,038 | +€116,012 | +12.9% |
| Amounts receivable after more than one year | 29 | - | €660,000 | +€660,000 | |
| Trade receivables | 290 | - | €660,000 | +€660,000 | |
| Amounts receivable within one year | 40/41 | €96,264 | €8,776 | -€87,488 | -90.9% |
| Other amounts receivable | 41 | €96,264 | €8,776 | -€87,488 | -90.9% |
| Cash at bank and in hand | 54/58 | €803,268 | €347,262 | -€456,006 | -56.8% |
| Deferred charges and accrued income | 490/1 | €494 | - | -€494 | |
| Total equity and liabilities | 10/49 | €1,230,645 | €1,246,769 | +€16,125 | +1.3% |
| Equity | 10/15 | €1,221,030 | €1,234,325 | +€13,295 | +1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,202,430 | €1,215,725 | +€13,295 | +1.1% |
| Non-distributable reserves | 130/1 | €921,050 | €1,184,345 | +€263,295 | +28.6% |
| Other | 1319 | €921,050 | €1,184,345 | +€263,295 | +28.6% |
| Distributable reserves | 133 | €281,380 | €31,380 | -€250,000 | -88.8% |
| Amounts payable | 17/49 | €9,614 | €12,444 | +€2,830 | +29.4% |
| Amounts payable within one year | 42/48 | €9,614 | €12,444 | +€2,830 | +29.4% |
| Current portion of amounts payable after more than one year | 42 | €2,010 | €2,010 | = | 0.0% |
| Trade debts | 44 | €494 | - | -€494 | |
| Suppliers | 440/4 | €494 | - | -€494 | |
| Other amounts payable | 47/48 | €7,110 | €10,434 | +€3,324 | +46.8% |
| Non-recurring operating income | 76A | - | €371,518 | +€371,518 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,557 | €13,338 | -€1,219 | -8.4% |
| Other operating charges | 640/8 | €4,261 | €7,159 | +€2,898 | +68.0% |
| Gross operating margin | 9900 | €33,597 | €393,765 | +€360,168 | +1072.0% |
| Operating profit (loss) | 9901 | €14,778 | €373,268 | +€358,490 | +2425.8% |
| Financial income | 75/76B | €5,304 | €10,005 | +€4,701 | +88.6% |
| Recurring financial income | 75 | €5,304 | €10,005 | +€4,701 | +88.6% |
| Financial charges | 65/66B | €106 | €75 | -€31 | -29.1% |
| Recurring financial charges | 65 | €106 | €75 | -€31 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €19,976 | €383,198 | +€363,222 | +1818.3% |
| Income taxes | 67/77 | €6,321 | €119,903 | +€113,581 | +1796.8% |
| Profit (loss) for the period | 9904 | €13,655 | €263,295 | +€249,640 | +1828.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,655 | €263,295 | +€249,640 | +1828.2% |
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 6 October 2026 via checked.be.