INSE: 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.
INSE
Largest movements
- Financial fixed assets +€402,500
up €402,500 (+151.9%), from €265,000 to €667,500
- Tangible fixed assets +€351,454
up €351,454 (+165.1%), from €212,833 to €564,288
of which Land and buildings: +€319,026
- Receivables within one year +€28,551
up €28,551 (+51.7%), from €55,273 to €83,824
of which Trade receivables: +€64,000
- Debts after one year +€652,685
up €652,685 (+203.8%), from €320,209 to €972,895
- Trade debts +€65,690
up €65,690 (+845.3%), from €7,772 to €73,461
- Other debts +€59,836
up €59,836 (+41.6%), from €143,981 to €203,817
- Current portion of long-term debt +€23,926
up €23,926 (+66.5%), from €35,967 to €59,893
- Gross operating margin +€41,383
up €41,383 (+111.4%), from €37,163 to €78,546
- Financial charges +€28,531
up €28,531 (+282.9%), from €10,084 to €38,615
- Depreciation +€16,277
up €16,277 (+69.8%), from €23,323 to €39,600
- Other operating charges +€2,283
up €2,283 (+169.5%), from €1,348 to €3,631
- Taxes -€813
down €813 (-86.0%), from €945 to €132
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 | €538,801 | €1,331,228 | +€792,427 | +147.1% |
| Fixed assets | 21/28 | €477,833 | €1,231,788 | +€753,954 | +157.8% |
| Tangible fixed assets | 22/27 | €212,833 | €564,288 | +€351,454 | +165.1% |
| Land and buildings | 22 | €168,491 | €487,517 | +€319,026 | +189.3% |
| Furniture and vehicles | 24 | €15,457 | €800 | -€14,657 | -94.8% |
| Other tangible fixed assets | 26 | €28,886 | €33,488 | +€4,602 | +15.9% |
| Assets under construction and advance payments | 27 | - | €42,483 | +€42,483 | |
| Financial fixed assets | 28 | €265,000 | €667,500 | +€402,500 | +151.9% |
| Current assets | 29/58 | €60,968 | €99,441 | +€38,473 | +63.1% |
| Amounts receivable within one year | 40/41 | €55,273 | €83,824 | +€28,551 | +51.7% |
| Trade receivables | 40 | €12,239 | €76,238 | +€64,000 | +522.9% |
| Other amounts receivable | 41 | €43,034 | €7,585 | -€35,449 | -82.4% |
| Cash at bank and in hand | 54/58 | €5,695 | €8,124 | +€2,429 | +42.7% |
| Deferred charges and accrued income | 490/1 | - | €7,493 | +€7,493 | |
| Total equity and liabilities | 10/49 | €538,801 | €1,331,228 | +€792,427 | +147.1% |
| Equity | 10/15 | €20,512 | €17,196 | -€3,317 | -16.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,512 | €12,196 | -€3,317 | -21.4% |
| Amounts payable | 17/49 | €518,289 | €1,314,032 | +€795,744 | +153.5% |
| Amounts payable after more than one year | 17 | €320,209 | €972,895 | +€652,685 | +203.8% |
| Financial debts | 170/4 | €320,209 | €972,895 | +€652,685 | +203.8% |
| Amounts payable within one year | 42/48 | €198,079 | €341,138 | +€143,058 | +72.2% |
| Current portion of amounts payable after more than one year | 42 | €35,967 | €59,893 | +€23,926 | +66.5% |
| Trade debts | 44 | €7,772 | €73,461 | +€65,690 | +845.3% |
| Suppliers | 440/4 | €7,772 | €73,461 | +€65,690 | +845.3% |
| Taxes, remuneration and social security | 45 | €10,359 | €3,966 | -€6,393 | -61.7% |
| Taxes | 450/3 | €9,099 | €2,706 | -€6,393 | -70.3% |
| Remuneration and social security | 454/9 | €1,260 | €1,260 | = | 0.0% |
| Other amounts payable | 47/48 | €143,981 | €203,817 | +€59,836 | +41.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,323 | €39,600 | +€16,277 | +69.8% |
| Other operating charges | 640/8 | €1,348 | €3,631 | +€2,283 | +169.5% |
| Gross operating margin | 9900 | €37,163 | €78,546 | +€41,383 | +111.4% |
| Operating profit (loss) | 9901 | €12,492 | €35,315 | +€22,823 | +182.7% |
| Financial income | 75/76B | €74 | €115 | +€41 | +56.3% |
| Recurring financial income | 75 | €74 | €115 | +€41 | +56.3% |
| Financial charges | 65/66B | €10,084 | €38,615 | +€28,531 | +282.9% |
| Recurring financial charges | 65 | €10,084 | €38,615 | +€28,531 | +282.9% |
| Profit (loss) for the period before taxes | 9903 | €2,482 | -€3,185 | -€5,666 | |
| Income taxes | 67/77 | €945 | €132 | -€813 | -86.0% |
| Profit (loss) for the period | 9904 | €1,537 | -€3,317 | -€4,853 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,537 | -€3,317 | -€4,853 |
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 5 October 2026 via checked.be.