INPHACON: 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.
INPHACON
Largest movements
- Current investments -€83,721
down €83,721 (-13.5%), from €622,279 to €538,557
- Cash +€44,341
up €44,341 (+114%), from €38,837 to €83,178
mainly Net result for the year (+€96,176) and Current investments (+€83,721)
- Tangible fixed assets +€35,612
up €35,612 (+10.5%), from €337,724 to €373,336
of which Other tangible fixed assets: +€342,651
- Receivables within one year -€22,875
down €22,875 (-35.7%), from €64,024 to €41,149
of which Trade receivables: -€20,371
- Tax, wage and social debts -€23,122
down €23,122 (-83.8%), from €27,594 to €4,471
- Gross operating margin -€332,183
down €332,183 (-69.7%), from €476,877 to €144,694
- Taxes -€110,361
down €110,361 (-74.3%), from €148,609 to €38,249
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 | €1,062,864 | €1,036,221 | -€26,643 | -2.5% |
| Fixed assets | 21/28 | €337,724 | €373,336 | +€35,612 | +10.5% |
| Tangible fixed assets | 22/27 | €337,724 | €373,336 | +€35,612 | +10.5% |
| Land and buildings | 22 | €15,284 | €13,401 | -€1,883 | -12.3% |
| Plant, machinery and equipment | 23 | €2,407 | €2,181 | -€226 | -9.4% |
| Furniture and vehicles | 24 | €320,033 | €15,103 | -€304,930 | -95.3% |
| Other tangible fixed assets | 26 | - | €342,651 | +€342,651 | |
| Current assets | 29/58 | €725,140 | €662,885 | -€62,255 | -8.6% |
| Amounts receivable within one year | 40/41 | €64,024 | €41,149 | -€22,875 | -35.7% |
| Trade receivables | 40 | €40,574 | €20,203 | -€20,371 | -50.2% |
| Other amounts receivable | 41 | €23,450 | €20,946 | -€2,504 | -10.7% |
| Current investments | 50/53 | €622,279 | €538,557 | -€83,721 | -13.5% |
| Cash at bank and in hand | 54/58 | €38,837 | €83,178 | +€44,341 | +114% |
| Total equity and liabilities | 10/49 | €1,062,864 | €1,036,221 | -€26,643 | -2.5% |
| Equity | 10/15 | €1,030,305 | €1,021,396 | -€8,909 | -0.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,017,905 | €1,008,996 | -€8,909 | -0.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €62 | €62 | = | 0.0% |
| Distributable reserves | 133 | €1,017,843 | €1,008,934 | -€8,909 | -0.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €32,559 | €14,825 | -€17,734 | -54.5% |
| Amounts payable within one year | 42/48 | €32,172 | €14,576 | -€17,596 | -54.7% |
| Financial debts | 43 | - | €367 | +€367 | |
| Credit institutions | 430/8 | - | €367 | +€367 | |
| Trade debts | 44 | €4,578 | €7,598 | +€3,020 | +66.0% |
| Suppliers | 440/4 | €4,578 | €7,598 | +€3,020 | +66.0% |
| Taxes, remuneration and social security | 45 | €27,594 | €4,471 | -€23,122 | -83.8% |
| Taxes | 450/3 | €27,594 | €4,471 | -€23,122 | -83.8% |
| Other amounts payable | 47/48 | €0 | €2,140 | +€2,140 | |
| Accrued charges and deferred income | 492/3 | €387 | €249 | -€138 | -35.7% |
| Non-recurring operating income | 76A | €0 | €661 | +€661 | |
| Remuneration, social security and pensions | 62 | €250 | €250 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,858 | €5,854 | -€4 | -0.1% |
| Other operating charges | 640/8 | €6,675 | €5,111 | -€1,564 | -23.4% |
| Gross operating margin | 9900 | €476,877 | €144,694 | -€332,183 | -69.7% |
| Operating profit (loss) | 9901 | €464,093 | €133,479 | -€330,614 | -71.2% |
| Financial income | 75/76B | €9,339 | €5,504 | -€3,835 | -41.1% |
| Recurring financial income | 75 | €9,339 | €5,504 | -€3,835 | -41.1% |
| Financial charges | 65/66B | €4,952 | €4,559 | -€394 | -8.0% |
| Recurring financial charges | 65 | €4,952 | €4,559 | -€394 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €468,479 | €134,424 | -€334,055 | -71.3% |
| Income taxes | 67/77 | €148,609 | €38,249 | -€110,361 | -74.3% |
| Profit (loss) for the period | 9904 | €319,870 | €96,176 | -€223,694 | -69.9% |
| Profit (loss) for the period to be appropriated | 9905 | €319,870 | €96,176 | -€223,694 | -69.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.