INST'ALL: what changed
INST'ALL
Largest movements
- Receivables within one year +€35,262
up €35,262 (+66.5%), from €53,034 to €88,296
of which Other amounts receivable: +€34,677
- Cash -€3,770
down €3,770 (-72.7%), from €5,186 to €1,416
mainly Receivables within one year (-€35,262) and Contributions, distributions and other (-€4,120)
- Deferred charges and accrued income -€1,739
down €1,739 (-19.3%), from €9,017 to €7,277
- Tangible fixed assets -€1,299
down €1,299 (-30.7%), from €4,236 to €2,937
of which Furniture and vehicles: -€996
- Reserves +€21,880
up €21,880 (+366%), from €5,980 to €27,860
of which Distributable reserves: +€21,880
- Other debts +€4,120
new in 2025: €4,120
- Short-term financial debts +€2,448
new in 2025: €2,448
- Tax, wage and social debts -€1,114
down €1,114 (-21.6%), from €5,164 to €4,050
- Gross operating margin +€47,813
up €47,813, from -€9,760 to €38,053
- Taxes +€3,392
up €3,392 (+1,031%), from €329 to €3,721
- Financial charges -€2,582
down €2,582 (-27.9%), from €9,269 to €6,687
- Other operating charges -€2,163
down €2,163 (-84.5%), from €2,560 to €397
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €72,101 | €100,402 | +€28,301 | +39.3% |
| Fixed assets | 21/28 | €4,461 | €3,162 | -€1,299 | -29.1% |
| Tangible fixed assets | 22/27 | €4,236 | €2,937 | -€1,299 | -30.7% |
| Plant, machinery and equipment | 23 | €1,875 | €1,572 | -€303 | -16.2% |
| Furniture and vehicles | 24 | €2,361 | €1,365 | -€996 | -42.2% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €67,640 | €97,240 | +€29,600 | +43.8% |
| Stocks and contracts in progress | 3 | €404 | €251 | -€153 | -37.8% |
| Stocks | 30/36 | €404 | €251 | -€153 | -37.8% |
| Amounts receivable within one year | 40/41 | €53,034 | €88,296 | +€35,262 | +66.5% |
| Trade receivables | 40 | €200 | €785 | +€585 | +292% |
| Other amounts receivable | 41 | €52,834 | €87,511 | +€34,677 | +65.6% |
| Cash at bank and in hand | 54/58 | €5,186 | €1,416 | -€3,770 | -72.7% |
| Deferred charges and accrued income | 490/1 | €9,017 | €7,277 | -€1,739 | -19.3% |
| Total equity and liabilities | 10/49 | €72,101 | €100,402 | +€28,301 | +39.3% |
| Equity | 10/15 | €35,062 | €56,962 | +€21,900 | +62.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,980 | €27,860 | +€21,880 | +366% |
| 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 | €4,120 | €26,000 | +€21,880 | +531% |
| Profit (loss) carried forward | 14 | €10,482 | €10,502 | +€20 | +0.2% |
| Amounts payable | 17/49 | €37,039 | €43,440 | +€6,401 | +17.3% |
| Amounts payable within one year | 42/48 | €37,039 | €43,440 | +€6,401 | +17.3% |
| Financial debts | 43 | - | €2,448 | +€2,448 | |
| Credit institutions | 430/8 | - | €2,448 | +€2,448 | |
| Trade debts | 44 | €31,875 | €32,822 | +€947 | +3.0% |
| Suppliers | 440/4 | €31,875 | €32,822 | +€947 | +3.0% |
| Taxes, remuneration and social security | 45 | €5,164 | €4,050 | -€1,114 | -21.6% |
| Taxes | 450/3 | €5,164 | €4,050 | -€1,114 | -21.6% |
| Other amounts payable | 47/48 | - | €4,120 | +€4,120 | |
| Non-recurring operating income | 76A | - | €880 | +€880 | |
| Remuneration, social security and pensions | 62 | €121 | - | -€121 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,250 | €1,299 | +€49 | +3.9% |
| Other operating charges | 640/8 | €2,560 | €397 | -€2,163 | -84.5% |
| Gross operating margin | 9900 | -€9,760 | €38,053 | +€47,813 | |
| Operating profit (loss) | 9901 | -€13,691 | €36,358 | +€50,048 | |
| Financial income | 75/76B | - | €70 | +€70 | |
| Recurring financial income | 75 | - | €70 | +€70 | |
| Financial charges | 65/66B | €9,269 | €6,687 | -€2,582 | -27.9% |
| Recurring financial charges | 65 | €9,269 | €6,687 | -€2,582 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | -€22,960 | €29,740 | +€52,700 | |
| Income taxes | 67/77 | €329 | €3,721 | +€3,392 | +1,031% |
| Profit (loss) for the period | 9904 | -€23,289 | €26,020 | +€49,309 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,289 | €26,020 | +€49,309 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.