INPICO GROUP: 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.
INPICO GROUP
Largest movements
- Receivables within one year +€194,040
up €194,040 (+58.9%), from €329,303 to €523,343
of which Trade receivables: +€194,040
- Cash +€116,312
up €116,312 (+127%), from €91,715 to €208,027
mainly Net result for the year (+€966,371) and Trade debts (+€52,590)
- Reserves +€666,371
up €666,371 (+35.4%), from €1.9m to €2.5m
- Debts after one year -€276,997
no longer reported in 2025 (was €276,997)
- Current portion of long-term debt -€173,852
down €173,852 (-38.5%), from €451,766 to €277,914
- Trade debts +€52,590
up €52,590 (+217%), from €24,200 to €76,790
- Gross operating margin +€184,856
up €184,856 (+53.4%), from €345,908 to €530,764
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 | €3,771,018 | €4,081,370 | +€310,352 | +8.2% |
| Fixed assets | 21/28 | €3,350,000 | €3,350,000 | = | 0.0% |
| Financial fixed assets | 28 | €3,350,000 | €3,350,000 | = | 0.0% |
| Current assets | 29/58 | €421,018 | €731,370 | +€310,352 | +73.7% |
| Amounts receivable within one year | 40/41 | €329,303 | €523,343 | +€194,040 | +58.9% |
| Trade receivables | 40 | €329,040 | €523,080 | +€194,040 | +59.0% |
| Other amounts receivable | 41 | €263 | €263 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €91,715 | €208,027 | +€116,312 | +127% |
| Total equity and liabilities | 10/49 | €3,771,018 | €4,081,370 | +€310,352 | +8.2% |
| Equity | 10/15 | €2,222,729 | €2,889,100 | +€666,371 | +30.0% |
| Contributions | 10/11 | €340,000 | €340,000 | = | 0.0% |
| Reserves | 13 | €1,882,729 | €2,549,100 | +€666,371 | +35.4% |
| Distributable reserves | 133 | €1,882,729 | €2,549,100 | +€666,371 | +35.4% |
| Amounts payable | 17/49 | €1,548,288 | €1,192,269 | -€356,019 | -23.0% |
| Amounts payable after more than one year | 17 | €276,997 | - | -€276,997 | |
| Financial debts | 170/4 | €276,997 | - | -€276,997 | |
| Amounts payable within one year | 42/48 | €1,267,875 | €1,189,357 | -€78,518 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €451,766 | €277,914 | -€173,852 | -38.5% |
| Trade debts | 44 | €24,200 | €76,790 | +€52,590 | +217% |
| Suppliers | 440/4 | €24,200 | €76,790 | +€52,590 | +217% |
| Taxes, remuneration and social security | 45 | €51,338 | €68,062 | +€16,724 | +32.6% |
| Taxes | 450/3 | €51,338 | €68,062 | +€16,724 | +32.6% |
| Other amounts payable | 47/48 | €740,571 | €766,591 | +€26,020 | +3.5% |
| Accrued charges and deferred income | 492/3 | €3,416 | €2,912 | -€504 | -14.7% |
| Other operating charges | 640/8 | €1,174 | €1,207 | +€34 | +2.9% |
| Gross operating margin | 9900 | €345,908 | €530,764 | +€184,856 | +53.4% |
| Operating profit (loss) | 9901 | €344,735 | €529,557 | +€184,822 | +53.6% |
| Financial income | 75/76B | €500,070 | €500,001 | -€69 | 0.0% |
| Recurring financial income | 75 | €500,070 | €500,001 | -€69 | 0.0% |
| Financial charges | 65/66B | €11,868 | €7,023 | -€4,845 | -40.8% |
| Recurring financial charges | 65 | €11,868 | €7,023 | -€4,845 | -40.8% |
| Profit (loss) for the period before taxes | 9903 | €832,937 | €1,022,535 | +€189,598 | +22.8% |
| Income taxes | 67/77 | €56,061 | €56,164 | +€103 | +0.2% |
| Profit (loss) for the period | 9904 | €776,876 | €966,371 | +€189,495 | +24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €776,876 | €966,371 | +€189,495 | +24.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.