INPHAR: 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.
INPHAR
Largest movements
- Receivables within one year +€242,721
up €242,721 (+274.3%), from €88,478 to €331,199
of which Other amounts receivable: +€242,721
- Tangible fixed assets -€9,912
no longer reported in 2025 (was €9,912)
- Cash -€6,264
down €6,264 (-8.6%), from €72,631 to €66,367
mainly Contributions, distributions and other (-€260,000) and Receivables within one year (-€242,721)
- Other debts +€260,000
new in 2025: €260,000
- Reserves -€122,200
down €122,200 (-83.5%), from €146,296 to €24,096
of which Distributable reserves: -€122,200
- Tax, wage and social debts +€51,470
new in 2025: €51,470
- Profit (loss) carried forward +€36,667
no longer reported in 2025 (was -€36,667)
- Gross operating margin +€231,718
up €231,718, from -€4,249 to €227,469
- Taxes +€51,470
new in 2025: €51,470
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 | €171,630 | €397,566 | +€225,936 | +131.6% |
| Fixed assets | 21/28 | €9,912 | - | -€9,912 | |
| Tangible fixed assets | 22/27 | €9,912 | - | -€9,912 | |
| Land and buildings | 22 | €9,912 | - | -€9,912 | |
| Current assets | 29/58 | €161,718 | €397,566 | +€235,848 | +145.8% |
| Amounts receivable within one year | 40/41 | €88,478 | €331,199 | +€242,721 | +274.3% |
| Trade receivables | 40 | €88,417 | €88,417 | = | 0.0% |
| Other amounts receivable | 41 | €61 | €242,782 | +€242,721 | +397838.0% |
| Cash at bank and in hand | 54/58 | €72,631 | €66,367 | -€6,264 | -8.6% |
| Deferred charges and accrued income | 490/1 | €609 | - | -€609 | |
| Total equity and liabilities | 10/49 | €171,630 | €397,566 | +€225,936 | +131.6% |
| Equity | 10/15 | €171,630 | €86,096 | -€85,534 | -49.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €146,296 | €24,096 | -€122,200 | -83.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €140,096 | €17,896 | -€122,200 | -87.2% |
| Profit (loss) carried forward | 14 | -€36,667 | - | +€36,667 | |
| Amounts payable | 17/49 | - | €311,470 | +€311,470 | |
| Amounts payable within one year | 42/48 | - | €311,470 | +€311,470 | |
| Taxes, remuneration and social security | 45 | - | €51,470 | +€51,470 | |
| Taxes | 450/3 | - | €51,470 | +€51,470 | |
| Other amounts payable | 47/48 | - | €260,000 | +€260,000 | |
| Non-recurring operating income | 76A | - | €242,588 | +€242,588 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €683 | - | -€683 | |
| Other operating charges | 640/8 | €1,870 | €1,534 | -€336 | -18.0% |
| Gross operating margin | 9900 | -€4,249 | €227,469 | +€231,718 | |
| Operating profit (loss) | 9901 | -€6,803 | €225,935 | +€232,737 | |
| Financial income | 75/76B | - | €46 | +€46 | |
| Recurring financial income | 75 | - | €46 | +€46 | |
| Financial charges | 65/66B | €44 | €45 | +€2 | +3.6% |
| Recurring financial charges | 65 | €44 | €45 | +€2 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,846 | €225,936 | +€232,782 | |
| Income taxes | 67/77 | - | €51,470 | +€51,470 | |
| Profit (loss) for the period | 9904 | -€6,846 | €174,466 | +€181,313 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,846 | €174,466 | +€181,313 |
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 1 October 2026 via checked.be.