INSEPIA: 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.
INSEPIA
Largest movements
- Cash -€22,534
down €22,534 (-34.4%), from €65,481 to €42,947
mainly Other debts (-€30,734) and Net result for the year (-€16,405)
- Other debts -€30,734
down €30,734 (-53.5%), from €57,463 to €26,729
- Reserves +€25,000
up €25,000 (+38.2%), from €65,460 to €90,460
- Profit (loss) carried forward -€16,405
down €16,405 (-28.6%), from -€57,299 to -€73,704
- Gross operating margin +€14,734
up €14,734 (+48.4%), from -€30,443 to -€15,709
- Depreciation -€1,027
down €1,027 (-100%), from €1,027 to €0
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.
Derived cash bridge
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 | €65,654 | €43,515 | -€22,139 | -33.7% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Current assets | 29/58 | €65,654 | €43,515 | -€22,139 | -33.7% |
| Amounts receivable within one year | 40/41 | €173 | €568 | +€395 | +228% |
| Other amounts receivable | 41 | €173 | €568 | +€395 | +228% |
| Cash at bank and in hand | 54/58 | €65,481 | €42,947 | -€22,534 | -34.4% |
| Total equity and liabilities | 10/49 | €65,654 | €43,515 | -€22,139 | -33.7% |
| Equity | 10/15 | €8,161 | €16,756 | +€8,595 | +105% |
| Reserves | 13 | €65,460 | €90,460 | +€25,000 | +38.2% |
| Distributable reserves | 133 | €65,460 | €90,460 | +€25,000 | +38.2% |
| Profit (loss) carried forward | 14 | -€57,299 | -€73,704 | -€16,405 | -28.6% |
| Amounts payable | 17/49 | €57,493 | €26,759 | -€30,734 | -53.5% |
| Amounts payable within one year | 42/48 | €57,493 | €26,759 | -€30,734 | -53.5% |
| Trade debts | 44 | €30 | €30 | = | 0.0% |
| Suppliers | 440/4 | €30 | €30 | = | 0.0% |
| Other amounts payable | 47/48 | €57,463 | €26,729 | -€30,734 | -53.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,027 | €0 | -€1,027 | -100% |
| Other operating charges | 640/8 | €505 | €520 | +€15 | +2.9% |
| Gross operating margin | 9900 | -€30,443 | -€15,709 | +€14,734 | +48.4% |
| Operating profit (loss) | 9901 | -€31,975 | -€16,229 | +€15,746 | +49.2% |
| Financial charges | 65/66B | €163 | €176 | +€13 | +8.1% |
| Recurring financial charges | 65 | €163 | €176 | +€13 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | -€32,138 | -€16,405 | +€15,733 | +49.0% |
| Profit (loss) for the period | 9904 | -€32,138 | -€16,405 | +€15,733 | +49.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,138 | -€16,405 | +€15,733 | +49.0% |
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 28 October 2026 via checked.be.