InspireS: 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.
InspireS
Largest movements
- Current investments +€349,540
up €349,540 (+37.7%), from €926,345 to €1.3m
- Cash +€36,462
up €36,462 (+22.6%), from €161,495 to €197,958
mainly Net result for the year (+€431,656) and Other debts (+€36,486)
- Financial fixed assets -€18,745
down €18,745 (-11.5%), from €162,470 to €143,725
- Reserves +€321,224
up €321,224 (+29.2%), from €1.1m to €1.4m
- Other debts +€36,486
up €36,486 (+49.3%), from €74,052 to €110,539
- Financial income +€145,692
up €145,692 (+916.4%), from €15,898 to €161,590
- Taxes +€5,047
up €5,047 (+3.3%), from €151,413 to €156,460
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 | €1,488,926 | €1,848,565 | +€359,639 | +24.2% |
| Fixed assets | 21/28 | €400,104 | €373,089 | -€27,015 | -6.8% |
| Tangible fixed assets | 22/27 | €237,634 | €229,364 | -€8,270 | -3.5% |
| Land and buildings | 22 | €234,177 | €225,763 | -€8,414 | -3.6% |
| Plant, machinery and equipment | 23 | - | €1,593 | +€1,593 | |
| Furniture and vehicles | 24 | €3,457 | €2,008 | -€1,449 | -41.9% |
| Financial fixed assets | 28 | €162,470 | €143,725 | -€18,745 | -11.5% |
| Current assets | 29/58 | €1,088,822 | €1,475,476 | +€386,654 | +35.5% |
| Amounts receivable within one year | 40/41 | - | €549 | +€549 | |
| Other amounts receivable | 41 | - | €549 | +€549 | |
| Current investments | 50/53 | €926,345 | €1,275,885 | +€349,540 | +37.7% |
| Cash at bank and in hand | 54/58 | €161,495 | €197,958 | +€36,462 | +22.6% |
| Deferred charges and accrued income | 490/1 | €981 | €1,084 | +€103 | +10.4% |
| Total equity and liabilities | 10/49 | €1,488,926 | €1,848,565 | +€359,639 | +24.2% |
| Equity | 10/15 | €1,364,448 | €1,685,672 | +€321,224 | +23.5% |
| Contributions | 10/11 | €3,100 | €3,100 | = | 0.0% |
| Reserves | 13 | €1,098,525 | €1,419,749 | +€321,224 | +29.2% |
| Distributable reserves | 133 | €1,098,525 | €1,419,749 | +€321,224 | +29.2% |
| Profit (loss) carried forward | 14 | €262,823 | €262,823 | = | 0.0% |
| Provisions and deferred taxes | 16 | €45,621 | €45,621 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €45,621 | €45,621 | = | 0.0% |
| Pensions and similar obligations | 160 | €45,621 | €45,621 | = | 0.0% |
| Amounts payable | 17/49 | €78,856 | €117,271 | +€38,415 | +48.7% |
| Amounts payable within one year | 42/48 | €78,856 | €116,077 | +€37,221 | +47.2% |
| Financial debts | 43 | €285 | €458 | +€173 | +60.4% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €285 | €458 | +€173 | +60.4% |
| Trade debts | 44 | €719 | €1,281 | +€562 | +78.2% |
| Suppliers | 440/4 | €719 | €1,281 | +€562 | +78.2% |
| Taxes, remuneration and social security | 45 | €3,800 | €3,800 | = | 0.0% |
| Taxes | 450/3 | €3,600 | €3,600 | = | 0.0% |
| Remuneration and social security | 454/9 | €200 | €200 | = | 0.0% |
| Other amounts payable | 47/48 | €74,052 | €110,539 | +€36,486 | +49.3% |
| Accrued charges and deferred income | 492/3 | €0 | €1,194 | +€1,194 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,893 | €10,092 | -€801 | -7.4% |
| Other operating charges | 640/8 | €3,027 | €3,071 | +€44 | +1.5% |
| Non-recurring operating charges | 66A | - | €26,609 | +€26,609 | |
| Gross operating margin | 9900 | €467,655 | €467,309 | -€346 | -0.1% |
| Operating profit (loss) | 9901 | €453,734 | €427,536 | -€26,198 | -5.8% |
| Financial income | 75/76B | €15,898 | €161,590 | +€145,692 | +916.4% |
| Recurring financial income | 75 | €15,898 | €161,590 | +€145,692 | +916.4% |
| Financial charges | 65/66B | €1,496 | €1,010 | -€486 | -32.5% |
| Recurring financial charges | 65 | €1,496 | €1,010 | -€486 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €468,137 | €588,116 | +€119,979 | +25.6% |
| Income taxes | 67/77 | €151,413 | €156,460 | +€5,047 | +3.3% |
| Profit (loss) for the period | 9904 | €316,724 | €431,656 | +€114,932 | +36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €316,724 | €431,656 | +€114,932 | +36.3% |
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 8 October 2026 via checked.be.