Insaver: 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.
What changed
Insaver
NACE 43.211, General electrical installation work
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.0m
2024 · €3.6m-€652,770
Equity
€10.0m
2024 · €8.8m+€1.2m
Cash
€3.0m
2024 · €3.6m-€541,930
Balance sheet total
€22.7m
2024 · €21.1m+€1.7m
Largest movements
Assets
- Financial fixed assets +€1.2m
up €1.2m (+26.4%), from €4.5m to €5.7m
of which Affiliated companies: +€1.2m
- Deferred charges and accrued income +€887,868
up €887,868 (+89.5%), from €992,130 to €1.9m
- Cash -€541,930
down €541,930 (-15.2%), from €3.6m to €3.0m
mainly Contributions, distributions and other (-€1.8m) and Accrued charges and deferred income (-€1.6m)
- Stocks and contracts +€524,460
up €524,460 (+19.5%), from €2.7m to €3.2m
of which Stocks: +€456,540
- Receivables within one year -€405,284
down €405,284 (-4.7%), from €8.6m to €8.2m
of which Trade receivables: -€486,954
Equity and liabilities
- Trade debts +€2.1m
up €2.1m (+72.8%), from €2.9m to €5.0m
- Accrued charges and deferred income -€1.6m
down €1.6m (-43.3%), from €3.6m to €2.0m
- Short-term financial debts +€1.2m
new in 2025: €1.2m
- Profit (loss) carried forward +€1.2m
up €1.2m (+13.6%), from €8.7m to €9.8m
- Debts after one year -€973,515
down €973,515 (-47.2%), from €2.1m to €1.1m
Income statement
- Turnover -€1.8m
down €1.8m (-4.0%), from €44.4m to €42.6m
- Provisions -€509,624
down €509,624, from €431,004 to -€78,620
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.
Result 2024
€3.6m
Turnover
-€1.8m
Other operating income
+€125,330
Goods and materials
-€302,010
Services and other goods
+€443,685
Staff costs
-€145,116
Depreciation
-€76,487
Provisions
+€509,624
Other operating charges
-€64,009
Other operating items
+€585,493
Financial income
-€124,239
Financial charges
-€53,979
Taxes
+€246,737
Result 2025
€3.0m
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.
From operations
+€2.3m
Investment
-€1.3m
Financing
-€1.5m
Cash 2024
€3.6m
From operations (derived)
+€2.3m
Net result for the year
+€3.0m
Depreciation
+€145,713
Stocks and contracts
-€524,460
Receivables within one year
+€405,284
Deferred charges and accrued income
-€887,868
Provisions
-€78,620
Trade debts
+€2.1m
Tax, wage and social debts
-€251,077
Other debts
-€28
Accrued charges and deferred income
-€1.6m
Investment (derived)
-€1.3m
Investment in fixed assets (net)
-€1.3m
Financing
-€1.5m
Debts after one year
-€973,515
Current portion of long-term debt
+€28,197
Short-term financial debts
+€1.2m
Contributions, distributions and other
-€1.8m
Cash 2025
€3.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,077,251 | €22,727,704 | +€1.7m | +7.8% |
| Fixed assets | 21/28 | €5,196,252 | €6,381,592 | +€1.2m | +22.8% |
| Intangible fixed assets | 21 | €62,784 | €160,101 | +€97,317 | +155.0% |
| Tangible fixed assets | 22/27 | €624,433 | €523,287 | -€101,146 | -16.2% |
| Plant, machinery and equipment | 23 | €168,351 | €132,201 | -€36,150 | -21.5% |
| Furniture and vehicles | 24 | €241,433 | €197,395 | -€44,038 | -18.2% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €214,649 | €193,691 | -€20,958 | -9.8% |
| Financial fixed assets | 28 | €4,509,035 | €5,698,204 | +€1.2m | +26.4% |
| Affiliated companies | 280/1 | €4,500,000 | €5,697,384 | +€1.2m | +26.6% |
| Participating interests | 280 | €4,500,000 | €5,697,384 | +€1.2m | +26.6% |
| Other financial fixed assets | 284/8 | €9,035 | €820 | -€8,215 | -90.9% |
| Amounts receivable and cash guarantees | 285/8 | €9,035 | €820 | -€8,215 | -90.9% |
| Current assets | 29/58 | €15,880,998 | €16,346,113 | +€465,114 | +2.9% |
| Stocks and contracts in progress | 3 | €2,685,467 | €3,209,927 | +€524,460 | +19.5% |
| Stocks | 30/36 | €2,670,864 | €3,127,404 | +€456,540 | +17.1% |
| Raw materials and consumables | 30/31 | €2,670,864 | €3,127,404 | +€456,540 | +17.1% |
| Contracts in progress | 37 | €14,603 | €82,523 | +€67,920 | +465.1% |
| Amounts receivable within one year | 40/41 | €8,644,840 | €8,239,556 | -€405,284 | -4.7% |
| Trade receivables | 40 | €7,955,331 | €7,468,377 | -€486,954 | -6.1% |
| Other amounts receivable | 41 | €689,509 | €771,180 | +€81,670 | +11.8% |
| Cash at bank and in hand | 54/58 | €3,558,561 | €3,016,631 | -€541,930 | -15.2% |
| Deferred charges and accrued income | 490/1 | €992,130 | €1,879,998 | +€887,868 | +89.5% |
| Total equity and liabilities | 10/49 | €21,077,251 | €22,727,704 | +€1.7m | +7.8% |
| Equity | 10/15 | €8,791,742 | €9,971,319 | +€1.2m | +13.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €75,141 | €75,141 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €68,991 | €68,991 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,655,100 | €9,834,678 | +€1.2m | +13.6% |
| Provisions and deferred taxes | 16 | €431,004 | €352,384 | -€78,620 | -18.2% |
| Provisions for liabilities and charges | 160/5 | €431,004 | €352,384 | -€78,620 | -18.2% |
| Environmental obligations | 163 | €431,004 | €352,384 | -€78,620 | -18.2% |
| Amounts payable | 17/49 | €11,854,505 | €12,404,001 | +€549,496 | +4.6% |
| Amounts payable after more than one year | 17 | €2,063,806 | €1,090,291 | -€973,515 | -47.2% |
| Financial debts | 170/4 | €2,063,806 | €1,090,291 | -€973,515 | -47.2% |
| Other loans | 174 | €2,063,806 | €1,090,291 | -€973,515 | -47.2% |
| Amounts payable within one year | 42/48 | €6,197,265 | €9,274,611 | +€3.1m | +49.7% |
| Current portion of amounts payable after more than one year | 42 | €945,319 | €973,515 | +€28,197 | +3.0% |
| Financial debts | 43 | - | €1,213,191 | +€1.2m | |
| Other loans | 439 | - | €1,213,191 | +€1.2m | |
| Trade debts | 44 | €2,867,972 | €4,955,035 | +€2.1m | +72.8% |
| Suppliers | 440/4 | €2,867,972 | €4,955,035 | +€2.1m | +72.8% |
| Taxes, remuneration and social security | 45 | €582,597 | €331,519 | -€251,077 | -43.1% |
| Taxes | 450/3 | €292,692 | €34,052 | -€258,640 | -88.4% |
| Remuneration and social security | 454/9 | €289,905 | €297,467 | +€7,562 | +2.6% |
| Other amounts payable | 47/48 | €1,801,378 | €1,801,350 | -€28 | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,593,434 | €2,039,100 | -€1.6m | -43.3% |
| Operating income | 70/76A | €44,040,527 | €42,953,550 | -€1.1m | -2.5% |
| Turnover | 70 | €44,396,749 | €42,598,950 | -€1.8m | -4.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€591,039 | €67,920 | +€658,959 | |
| Own construction capitalised | 72 | €73,466 | - | -€73,466 | |
| Other operating income | 74 | €161,351 | €286,680 | +€125,330 | +77.7% |
| Operating charges | 60/66A | €39,287,945 | €38,922,256 | -€365,688 | -0.9% |
| Goods for resale, raw materials and consumables | 60 | €29,953,639 | €30,255,649 | +€302,010 | +1.0% |
| Purchases | 600/8 | €28,762,562 | €30,712,189 | +€1.9m | +6.8% |
| Change in stocks: decrease (increase) | 609 | €1,191,077 | -€456,540 | -€1.6m | |
| Services and other goods | 61 | €5,912,653 | €5,468,967 | -€443,685 | -7.5% |
| Remuneration, social security and pensions | 62 | €2,895,779 | €3,040,894 | +€145,116 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,226 | €145,713 | +€76,487 | +110.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €431,004 | -€78,620 | -€509,624 | |
| Other operating charges | 640/8 | €25,644 | €89,652 | +€64,009 | +249.6% |
| Operating profit (loss) | 9901 | €4,752,582 | €4,031,294 | -€721,288 | -15.2% |
| Financial income | 75/76B | €227,483 | €103,244 | -€124,239 | -54.6% |
| Recurring financial income | 75 | €227,483 | €103,244 | -€124,239 | -54.6% |
| Income from current assets | 751 | €191,986 | €77,200 | -€114,786 | -59.8% |
| Other financial income | 752/9 | €35,497 | €26,044 | -€9,453 | -26.6% |
| Financial charges | 65/66B | €67,217 | €121,196 | +€53,979 | +80.3% |
| Recurring financial charges | 65 | €67,217 | €121,196 | +€53,979 | +80.3% |
| Debt charges | 650 | €28,964 | €111,874 | +€82,911 | +286.3% |
| Other financial charges | 652/9 | €38,253 | €9,322 | -€28,931 | -75.6% |
| Profit (loss) for the period before taxes | 9903 | €4,912,848 | €4,013,341 | -€899,507 | -18.3% |
| Income taxes | 67/77 | €1,280,501 | €1,033,764 | -€246,737 | -19.3% |
| Taxes | 670/3 | €1,280,501 | €1,033,764 | -€246,737 | -19.3% |
| Profit (loss) for the period | 9904 | €3,632,347 | €2,979,577 | -€652,770 | -18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,632,347 | €2,979,577 | -€652,770 | -18.0% |
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 8 October 2026 via checked.be.