INRO: 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.
INRO
Largest movements
- Receivables within one year +€8,862
up €8,862 (+19.5%), from €45,420 to €54,282
of which Other amounts receivable: +€29,609
- Receivables after one year +€2,522
up €2,522 (+3.5%), from €72,067 to €74,589
- Short-term financial debts +€12,052
up €12,052 (+97.4%), from €12,379 to €24,431
- Profit (loss) carried forward -€11,179
down €11,179 (-93.8%), from -€11,920 to -€23,099
- Tax, wage and social debts +€6,563
up €6,563 (+743.3%), from €883 to €7,446
of which Remuneration and social security: +€5,565
- Current portion of long-term debt +€6,259
up €6,259 (+95.9%), from €6,525 to €12,784
- Debts after one year -€1,800
down €1,800 (-100.0%), from €1,800 to €0
- Turnover -€48,645
no longer reported in 2025 (was €48,645)
- Purchases and services -€37,728
no longer reported in 2025 (was €37,728)
- Gross operating margin -€17,668
down €17,668, from €10,916 to -€6,751
- Other operating charges +€2,166
up €2,166 (+819.4%), from €264 to €2,430
- Taxes -€547
down €547 (-83.7%), from €653 to €107
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 | €121,706 | €132,906 | +€11,200 | +9.2% |
| Fixed assets | 21/28 | €1,962 | €1,346 | -€616 | -31.4% |
| Tangible fixed assets | 22/27 | €1,962 | €1,346 | -€616 | -31.4% |
| Plant, machinery and equipment | 23 | €1,088 | €922 | -€166 | -15.3% |
| Furniture and vehicles | 24 | €874 | €424 | -€450 | -51.4% |
| Current assets | 29/58 | €119,744 | €131,560 | +€11,816 | +9.9% |
| Amounts receivable after more than one year | 29 | €72,067 | €74,589 | +€2,522 | +3.5% |
| Other amounts receivable | 291 | €72,067 | €74,589 | +€2,522 | +3.5% |
| Stocks and contracts in progress | 3 | €363 | €737 | +€375 | +103.4% |
| Stocks | 30/36 | €363 | €737 | +€375 | +103.4% |
| Amounts receivable within one year | 40/41 | €45,420 | €54,282 | +€8,862 | +19.5% |
| Trade receivables | 40 | €30,108 | €9,361 | -€20,747 | -68.9% |
| Other amounts receivable | 41 | €15,312 | €44,921 | +€29,609 | +193.4% |
| Cash at bank and in hand | 54/58 | €1,727 | €1,877 | +€150 | +8.7% |
| Deferred charges and accrued income | 490/1 | €167 | €75 | -€93 | -55.4% |
| Total equity and liabilities | 10/49 | €121,706 | €132,906 | +€11,200 | +9.2% |
| Equity | 10/15 | €82,166 | €70,987 | -€11,179 | -13.6% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Reserves | 13 | €87,686 | €87,686 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €85,826 | €85,826 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,920 | -€23,099 | -€11,179 | -93.8% |
| Amounts payable | 17/49 | €39,540 | €61,919 | +€22,379 | +56.6% |
| Amounts payable after more than one year | 17 | €1,800 | €0 | -€1,800 | -100.0% |
| Financial debts | 170/4 | €1,800 | €0 | -€1,800 | -100.0% |
| Amounts payable within one year | 42/48 | €37,740 | €61,919 | +€24,179 | +64.1% |
| Current portion of amounts payable after more than one year | 42 | €6,525 | €12,784 | +€6,259 | +95.9% |
| Financial debts | 43 | €12,379 | €24,431 | +€12,052 | +97.4% |
| Credit institutions | 430/8 | €12,379 | €24,431 | +€12,052 | +97.4% |
| Trade debts | 44 | €17,954 | €17,099 | -€855 | -4.8% |
| Suppliers | 440/4 | €17,954 | €17,099 | -€855 | -4.8% |
| Taxes, remuneration and social security | 45 | €883 | €7,446 | +€6,563 | +743.3% |
| Taxes | 450/3 | €883 | €1,881 | +€998 | +113.0% |
| Remuneration and social security | 454/9 | - | €5,565 | +€5,565 | |
| Other amounts payable | 47/48 | - | €160 | +€160 | |
| Turnover | 70 | €48,645 | - | -€48,645 | |
| Goods, raw materials, services and sundry goods | 60/61 | €37,728 | - | -€37,728 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,846 | €1,332 | -€514 | -27.8% |
| Other operating charges | 640/8 | €264 | €2,430 | +€2,166 | +819.4% |
| Gross operating margin | 9900 | €10,916 | -€6,751 | -€17,668 | |
| Operating profit (loss) | 9901 | €8,806 | -€10,513 | -€19,320 | |
| Financial income | 75/76B | €3,012 | €3,519 | +€507 | +16.8% |
| Recurring financial income | 75 | €3,012 | €3,519 | +€507 | +16.8% |
| Financial charges | 65/66B | €3,725 | €4,078 | +€353 | +9.5% |
| Recurring financial charges | 65 | €3,725 | €4,078 | +€353 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | €8,093 | -€11,072 | -€19,165 | |
| Income taxes | 67/77 | €653 | €107 | -€547 | -83.7% |
| Profit (loss) for the period | 9904 | €7,440 | -€11,179 | -€18,619 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,440 | -€11,179 | -€18,619 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.