INSPI-RED: 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.
INSPI-RED
Largest movements
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash +€81,034
up €81,034 (+159%), from €51,105 to €132,139
mainly Current investments (+€100,000) and Net result for the year (+€36,657)
- Receivables after one year -€8,000
down €8,000 (-50.0%), from €16,000 to €8,000
of which Other amounts receivable: -€8,000
- Receivables within one year -€5,071
down €5,071 (-10.2%), from €49,531 to €44,460
of which Trade receivables: -€9,911
- Debts after one year -€33,553
down €33,553 (-28.5%), from €117,880 to €84,327
- Profit (loss) carried forward -€26,768
no longer reported in 2025 (was €26,768)
- Other debts +€21,071
new in 2025: €21,071
- Trade debts +€6,842
up €6,842 (+1,241%), from €551 to €7,394
- Gross operating margin -€37,676
down €37,676 (-43.0%), from €87,709 to €50,033
- Taxes +€10,080
up €10,080 (+5,889%), from €171 to €10,251
- Financial income +€2,572
up €2,572 (+1,838%), from €140 to €2,712
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 | €224,322 | €190,548 | -€33,774 | -15.1% |
| Fixed assets | 21/28 | €7,411 | €5,949 | -€1,462 | -19.7% |
| Tangible fixed assets | 22/27 | €7,411 | €5,949 | -€1,462 | -19.7% |
| Furniture and vehicles | 24 | €1,131 | €729 | -€403 | -35.6% |
| Other tangible fixed assets | 26 | €6,279 | €5,220 | -€1,059 | -16.9% |
| Current assets | 29/58 | €216,911 | €184,599 | -€32,312 | -14.9% |
| Amounts receivable after more than one year | 29 | €16,000 | €8,000 | -€8,000 | -50.0% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €16,000 | €8,000 | -€8,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €49,531 | €44,460 | -€5,071 | -10.2% |
| Trade receivables | 40 | €40,403 | €30,492 | -€9,911 | -24.5% |
| Other amounts receivable | 41 | €9,128 | €13,968 | +€4,840 | +53.0% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €51,105 | €132,139 | +€81,034 | +159% |
| Deferred charges and accrued income | 490/1 | €275 | - | -€275 | |
| Total equity and liabilities | 10/49 | €224,322 | €190,548 | -€33,774 | -15.1% |
| Equity | 10/15 | €61,928 | €35,160 | -€26,768 | -43.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €34,160 | €34,160 | = | 0.0% |
| Distributable reserves | 133 | €34,160 | €34,160 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,768 | - | -€26,768 | |
| Amounts payable | 17/49 | €162,394 | €155,388 | -€7,006 | -4.3% |
| Amounts payable after more than one year | 17 | €117,880 | €84,327 | -€33,553 | -28.5% |
| Financial debts | 170/4 | €117,880 | €84,327 | -€33,553 | -28.5% |
| Amounts payable within one year | 42/48 | €44,514 | €71,061 | +€26,547 | +59.6% |
| Current portion of amounts payable after more than one year | 42 | €35,493 | €36,315 | +€821 | +2.3% |
| Trade debts | 44 | €551 | €7,394 | +€6,842 | +1,241% |
| Suppliers | 440/4 | €551 | €7,394 | +€6,842 | +1,241% |
| Taxes, remuneration and social security | 45 | €8,469 | €6,281 | -€2,188 | -25.8% |
| Taxes | 450/3 | €8,469 | €6,281 | -€2,188 | -25.8% |
| Other amounts payable | 47/48 | - | €21,071 | +€21,071 | |
| Non-recurring operating income | 76A | €347 | - | -€347 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,115 | €1,462 | -€654 | -30.9% |
| Other operating charges | 640/8 | €829 | €295 | -€534 | -64.4% |
| Gross operating margin | 9900 | €87,709 | €50,033 | -€37,676 | -43.0% |
| Operating profit (loss) | 9901 | €84,765 | €48,276 | -€36,489 | -43.0% |
| Financial income | 75/76B | €140 | €2,712 | +€2,572 | +1,838% |
| Recurring financial income | 75 | €140 | €2,712 | +€2,572 | +1,838% |
| Financial charges | 65/66B | €4,814 | €4,080 | -€734 | -15.2% |
| Recurring financial charges | 65 | €4,814 | €4,080 | -€734 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €80,091 | €46,908 | -€33,183 | -41.4% |
| Income taxes | 67/77 | €171 | €10,251 | +€10,080 | +5,889% |
| Profit (loss) for the period | 9904 | €79,920 | €36,657 | -€43,263 | -54.1% |
| Profit (loss) for the period to be appropriated | 9905 | €79,920 | €36,657 | -€43,263 | -54.1% |
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 17 October 2026 via checked.be.