INSILVA: 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.
INSILVA
Largest movements
- Tangible fixed assets -€35,946
down €35,946 (-3.2%), from €1.1m to €1.1m
of which Furniture and vehicles: -€18,896
- Deferred charges and accrued income -€31,084
down €31,084 (-9.3%), from €333,666 to €302,582
- Cash -€20,264
down €20,264 (-42.7%), from €47,466 to €27,202
mainly Investment in fixed assets (net) (-€59,073) and Debts after one year (-€58,734)
- Debts after one year -€58,734
down €58,734 (-3.9%), from €1.5m to €1.5m
of which Financial debts: -€74,646
- Gross operating margin +€103,037
up €103,037 (+314.2%), from €32,798 to €135,835
- Depreciation +€12,821
up €12,821 (+15.6%), from €82,198 to €95,019
- Financial charges +€4,758
up €4,758 (+14.2%), from €33,617 to €38,375
- Financial income -€3,120
down €3,120 (-86.0%), from €3,629 to €508
- Other operating charges +€2,820
up €2,820 (+499.9%), from €564 to €3,384
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 | €1,558,639 | €1,478,625 | -€80,014 | -5.1% |
| Fixed assets | 21/28 | €1,137,076 | €1,101,130 | -€35,946 | -3.2% |
| Tangible fixed assets | 22/27 | €1,137,076 | €1,101,130 | -€35,946 | -3.2% |
| Land and buildings | 22 | €1,008,904 | €992,270 | -€16,633 | -1.6% |
| Plant, machinery and equipment | 23 | €916 | €500 | -€417 | -45.5% |
| Furniture and vehicles | 24 | €127,256 | €108,360 | -€18,896 | -14.8% |
| Current assets | 29/58 | €421,562 | €377,494 | -€44,068 | -10.5% |
| Stocks and contracts in progress | 3 | - | €2,576 | +€2,576 | |
| Stocks | 30/36 | - | €2,576 | +€2,576 | |
| Amounts receivable within one year | 40/41 | €34,542 | €37,774 | +€3,232 | +9.4% |
| Trade receivables | 40 | €26,529 | €37,671 | +€11,141 | +42.0% |
| Other amounts receivable | 41 | €8,012 | €103 | -€7,909 | -98.7% |
| Current investments | 50/53 | €5,888 | €7,360 | +€1,472 | +25.0% |
| Cash at bank and in hand | 54/58 | €47,466 | €27,202 | -€20,264 | -42.7% |
| Deferred charges and accrued income | 490/1 | €333,666 | €302,582 | -€31,084 | -9.3% |
| Total equity and liabilities | 10/49 | €1,558,639 | €1,478,625 | -€80,014 | -5.1% |
| Equity | 10/15 | -€103,185 | -€103,620 | -€434 | -0.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,289 | €19,289 | = | 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 | €17,429 | €17,429 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€141,075 | -€141,509 | -€434 | -0.3% |
| Amounts payable | 17/49 | €1,661,824 | €1,582,244 | -€79,579 | -4.8% |
| Amounts payable after more than one year | 17 | €1,525,033 | €1,466,298 | -€58,734 | -3.9% |
| Financial debts | 170/4 | €1,193,849 | €1,119,203 | -€74,646 | -6.3% |
| Other amounts payable | 178/9 | €331,184 | €347,095 | +€15,912 | +4.8% |
| Amounts payable within one year | 42/48 | €128,233 | €105,236 | -€22,997 | -17.9% |
| Current portion of amounts payable after more than one year | 42 | €77,986 | €80,635 | +€2,649 | +3.4% |
| Trade debts | 44 | €23,740 | €14,458 | -€9,282 | -39.1% |
| Suppliers | 440/4 | €23,740 | €14,458 | -€9,282 | -39.1% |
| Advances received on contracts in progress | 46 | €3,853 | €2,664 | -€1,188 | -30.8% |
| Taxes, remuneration and social security | 45 | €22,654 | €7,479 | -€15,176 | -67.0% |
| Taxes | 450/3 | €22,654 | €7,479 | -€15,176 | -67.0% |
| Accrued charges and deferred income | 492/3 | €8,559 | €10,710 | +€2,152 | +25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,198 | €95,019 | +€12,821 | +15.6% |
| Other operating charges | 640/8 | €564 | €3,384 | +€2,820 | +499.9% |
| Gross operating margin | 9900 | €32,798 | €135,835 | +€103,037 | +314.2% |
| Operating profit (loss) | 9901 | -€49,964 | €37,433 | +€87,396 | |
| Financial income | 75/76B | €3,629 | €508 | -€3,120 | -86.0% |
| Recurring financial income | 75 | €3,629 | €508 | -€3,120 | -86.0% |
| Financial charges | 65/66B | €33,617 | €38,375 | +€4,758 | +14.2% |
| Recurring financial charges | 65 | €33,617 | €38,375 | +€4,758 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | -€79,952 | -€434 | +€79,517 | +99.5% |
| Profit (loss) for the period | 9904 | -€79,952 | -€434 | +€79,517 | +99.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€79,952 | -€434 | +€79,517 | +99.5% |
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 12 October 2026 via checked.be.