INRECO: 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.
INRECO
Largest movements
- Cash -€182,979
down €182,979 (-87.8%), from €208,395 to €25,416
mainly Contributions, distributions and other (-€248,367) and Smaller working-capital items (-€968)
- Receivables within one year -€4,403
down €4,403 (-51.5%), from €8,553 to €4,150
- Contributions -€248,367
down €248,367 (-80.2%), from €309,867 to €61,500
- Other debts +€58,207
up €58,207 (+485.1%), from €12,000 to €70,207
- Gross operating margin -€11,129
down €11,129 (-57.3%), from €19,427 to €8,298
- Taxes -€3,198
down €3,198 (-93.9%), from €3,405 to €207
- Depreciation -€2,838
down €2,838 (-46.2%), from €6,140 to €3,302
- Financial income -€1,344
down €1,344 (-53.0%), from €2,534 to €1,190
- Financial charges +€208
up €208 (+478.0%), from €44 to €252
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 | €379,796 | €189,482 | -€190,313 | -50.1% |
| Fixed assets | 21/28 | €160,624 | €157,323 | -€3,302 | -2.1% |
| Tangible fixed assets | 22/27 | €160,624 | €157,323 | -€3,302 | -2.1% |
| Land and buildings | 22 | €143,614 | €143,614 | = | 0.0% |
| Plant, machinery and equipment | 23 | €17,010 | €13,709 | -€3,302 | -19.4% |
| Current assets | 29/58 | €219,171 | €32,160 | -€187,012 | -85.3% |
| Amounts receivable within one year | 40/41 | €8,553 | €4,150 | -€4,403 | -51.5% |
| Other amounts receivable | 41 | €8,553 | €4,150 | -€4,403 | -51.5% |
| Cash at bank and in hand | 54/58 | €208,395 | €25,416 | -€182,979 | -87.8% |
| Deferred charges and accrued income | 490/1 | €2,223 | €2,594 | +€371 | +16.7% |
| Total equity and liabilities | 10/49 | €379,796 | €189,482 | -€190,313 | -50.1% |
| Equity | 10/15 | €365,954 | €118,031 | -€247,923 | -67.7% |
| Contributions | 10/11 | €309,867 | €61,500 | -€248,367 | -80.2% |
| Capital | 10 | €309,867 | €61,500 | -€248,367 | -80.2% |
| Issued capital | 100 | €309,867 | €61,500 | -€248,367 | -80.2% |
| Reserves | 13 | €56,087 | €56,531 | +€444 | +0.8% |
| Non-distributable reserves | 130/1 | €5,042 | €5,065 | +€22 | +0.4% |
| Legal reserve | 130 | €5,042 | €5,065 | +€22 | +0.4% |
| Distributable reserves | 133 | €51,045 | €51,467 | +€422 | +0.8% |
| Amounts payable | 17/49 | €13,842 | €71,451 | +€57,610 | +416.2% |
| Amounts payable within one year | 42/48 | €13,842 | €71,451 | +€57,610 | +416.2% |
| Trade debts | 44 | €597 | - | -€597 | |
| Suppliers | 440/4 | €597 | - | -€597 | |
| Taxes, remuneration and social security | 45 | €1,245 | €1,245 | = | 0.0% |
| Taxes | 450/3 | €1,245 | €1,245 | = | 0.0% |
| Other amounts payable | 47/48 | €12,000 | €70,207 | +€58,207 | +485.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,140 | €3,302 | -€2,838 | -46.2% |
| Other operating charges | 640/8 | €5,077 | €5,284 | +€207 | +4.1% |
| Gross operating margin | 9900 | €19,427 | €8,298 | -€11,129 | -57.3% |
| Operating profit (loss) | 9901 | €8,210 | -€287 | -€8,498 | |
| Financial income | 75/76B | €2,534 | €1,190 | -€1,344 | -53.0% |
| Recurring financial income | 75 | €2,534 | €1,190 | -€1,344 | -53.0% |
| Financial charges | 65/66B | €44 | €252 | +€208 | +478.0% |
| Recurring financial charges | 65 | €44 | €252 | +€208 | +478.0% |
| Profit (loss) for the period before taxes | 9903 | €10,701 | €651 | -€10,050 | -93.9% |
| Income taxes | 67/77 | €3,405 | €207 | -€3,198 | -93.9% |
| Profit (loss) for the period | 9904 | €7,296 | €444 | -€6,852 | -93.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,296 | €444 | -€6,852 | -93.9% |
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 10 October 2026 via checked.be.