INSEC: 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.
INSEC
Largest movements
- Cash +€110,341
up €110,341 (+68.5%), from €161,136 to €271,477
mainly Receivables within one year (+€104,583) and Net result for the year (+€104,147)
- Receivables within one year -€104,583
down €104,583 (-58.5%), from €178,763 to €74,181
of which Trade receivables: -€90,493
- Stocks and contracts +€13,751
new in 2025: €13,751
- Reserves +€85,346
up €85,346 (+36.9%), from €231,067 to €316,413
- Trade debts -€67,467
down €67,467 (-76.4%), from €88,351 to €20,884
- Gross operating margin +€17,566
up €17,566 (+12.7%), from €138,278 to €155,844
- Taxes +€4,638
up €4,638 (+10.3%), from €45,035 to €49,673
- Financial income -€2,077
down €2,077 (-75.9%), from €2,736 to €659
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 | €341,424 | €360,557 | +€19,134 | +5.6% |
| Fixed assets | 21/28 | €778 | €377 | -€400 | -51.5% |
| Tangible fixed assets | 22/27 | €778 | €377 | -€400 | -51.5% |
| Furniture and vehicles | 24 | €778 | €377 | -€400 | -51.5% |
| Current assets | 29/58 | €340,646 | €360,180 | +€19,534 | +5.7% |
| Stocks and contracts in progress | 3 | - | €13,751 | +€13,751 | |
| Stocks | 30/36 | - | €13,751 | +€13,751 | |
| Amounts receivable within one year | 40/41 | €178,763 | €74,181 | -€104,583 | -58.5% |
| Trade receivables | 40 | €161,973 | €71,480 | -€90,493 | -55.9% |
| Other amounts receivable | 41 | €16,790 | €2,700 | -€14,090 | -83.9% |
| Cash at bank and in hand | 54/58 | €161,136 | €271,477 | +€110,341 | +68.5% |
| Deferred charges and accrued income | 490/1 | €747 | €772 | +€24 | +3.3% |
| Total equity and liabilities | 10/49 | €341,424 | €360,557 | +€19,134 | +5.6% |
| Equity | 10/15 | €249,667 | €335,013 | +€85,346 | +34.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €231,067 | €316,413 | +€85,346 | +36.9% |
| Distributable reserves | 133 | €231,067 | €316,413 | +€85,346 | +36.9% |
| Amounts payable | 17/49 | €91,756 | €25,544 | -€66,212 | -72.2% |
| Amounts payable within one year | 42/48 | €90,997 | €25,544 | -€65,453 | -71.9% |
| Trade debts | 44 | €88,351 | €20,884 | -€67,467 | -76.4% |
| Suppliers | 440/4 | €88,351 | €20,884 | -€67,467 | -76.4% |
| Taxes, remuneration and social security | 45 | €2,646 | €2,892 | +€246 | +9.3% |
| Taxes | 450/3 | €2,646 | €2,892 | +€246 | +9.3% |
| Other amounts payable | 47/48 | - | €1,768 | +€1,768 | |
| Accrued charges and deferred income | 492/3 | €760 | - | -€760 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €560 | €400 | -€159 | -28.5% |
| Other operating charges | 640/8 | €778 | €901 | +€123 | +15.8% |
| Gross operating margin | 9900 | €138,278 | €155,844 | +€17,566 | +12.7% |
| Operating profit (loss) | 9901 | €136,940 | €154,543 | +€17,603 | +12.9% |
| Financial income | 75/76B | €2,736 | €659 | -€2,077 | -75.9% |
| Recurring financial income | 75 | €2,736 | €659 | -€2,077 | -75.9% |
| Financial charges | 65/66B | €1,125 | €1,382 | +€257 | +22.9% |
| Recurring financial charges | 65 | €1,125 | €1,382 | +€257 | +22.9% |
| Profit (loss) for the period before taxes | 9903 | €138,551 | €153,820 | +€15,268 | +11.0% |
| Income taxes | 67/77 | €45,035 | €49,673 | +€4,638 | +10.3% |
| Profit (loss) for the period | 9904 | €93,517 | €104,147 | +€10,630 | +11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €93,517 | €104,147 | +€10,630 | +11.4% |
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 30 September 2026 via checked.be.