INSTALEC: 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.
INSTALEC
Largest movements
- Tangible fixed assets +€179,647
up €179,647 (+44.7%), from €402,022 to €581,668
of which Land and buildings: +€198,282
- Receivables within one year +€84,543
up €84,543 (+31.0%), from €273,039 to €357,582
of which Trade receivables: +€83,756
- Stocks and contracts +€73,169
up €73,169 (+164%), from €44,736 to €117,905
of which Contracts in progress: +€71,137
- Cash +€14,488
up €14,488 (+4.9%), from €293,474 to €307,962
mainly Other debts (+€193,970) and Debts after one year (+€181,730)
- Other debts +€193,970
up €193,970 (+690%), from €28,107 to €222,077
- Debts after one year +€181,730
up €181,730 (+45.4%), from €400,333 to €582,063
- Reserves -€84,459
down €84,459 (-17.5%), from €482,958 to €398,499
of which Distributable reserves: -€84,459
- Accrued charges and deferred income +€50,000
new in 2025: €50,000
- Current portion of long-term debt +€17,067
up €17,067 (+44.9%), from €38,037 to €55,104
- Gross operating margin +€94,601
up €94,601 (+49.5%), from €190,951 to €285,552
- Other operating charges +€29,746
up €29,746 (+384%), from €7,737 to €37,482
- Taxes +€11,366
up €11,366 (+37.7%), from €30,149 to €41,515
- Financial charges +€3,980
up €3,980 (+41.2%), from €9,664 to €13,644
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 | €1,013,270 | €1,365,330 | +€352,059 | +34.7% |
| Fixed assets | 21/28 | €402,022 | €581,668 | +€179,647 | +44.7% |
| Tangible fixed assets | 22/27 | €402,022 | €581,668 | +€179,647 | +44.7% |
| Land and buildings | 22 | €355,872 | €554,154 | +€198,282 | +55.7% |
| Plant, machinery and equipment | 23 | €11,169 | €8,629 | -€2,539 | -22.7% |
| Furniture and vehicles | 24 | €34,981 | €18,885 | -€16,096 | -46.0% |
| Current assets | 29/58 | €611,249 | €783,662 | +€172,413 | +28.2% |
| Stocks and contracts in progress | 3 | €44,736 | €117,905 | +€73,169 | +164% |
| Stocks | 30/36 | €11,453 | €13,485 | +€2,032 | +17.7% |
| Contracts in progress | 37 | €33,283 | €104,420 | +€71,137 | +214% |
| Amounts receivable within one year | 40/41 | €273,039 | €357,582 | +€84,543 | +31.0% |
| Trade receivables | 40 | €265,587 | €349,344 | +€83,756 | +31.5% |
| Other amounts receivable | 41 | €7,452 | €8,238 | +€786 | +10.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €293,474 | €307,962 | +€14,488 | +4.9% |
| Deferred charges and accrued income | 490/1 | - | €213 | +€213 | |
| Total equity and liabilities | 10/49 | €1,013,270 | €1,365,330 | +€352,059 | +34.7% |
| Equity | 10/15 | €501,558 | €417,099 | -€84,459 | -16.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €482,958 | €398,499 | -€84,459 | -17.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €482,958 | €398,499 | -€84,459 | -17.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €511,713 | €948,231 | +€436,518 | +85.3% |
| Amounts payable after more than one year | 17 | €400,333 | €582,063 | +€181,730 | +45.4% |
| Financial debts | 170/4 | €400,333 | €582,063 | +€181,730 | +45.4% |
| Amounts payable within one year | 42/48 | €111,379 | €316,168 | +€204,789 | +184% |
| Current portion of amounts payable after more than one year | 42 | €38,037 | €55,104 | +€17,067 | +44.9% |
| Trade debts | 44 | €30,032 | €14,055 | -€15,977 | -53.2% |
| Suppliers | 440/4 | €30,032 | €14,055 | -€15,977 | -53.2% |
| Taxes, remuneration and social security | 45 | €15,203 | €24,932 | +€9,729 | +64.0% |
| Taxes | 450/3 | €11,466 | €21,169 | +€9,703 | +84.6% |
| Remuneration and social security | 454/9 | €3,738 | €3,763 | +€25 | +0.7% |
| Other amounts payable | 47/48 | €28,107 | €222,077 | +€193,970 | +690% |
| Accrued charges and deferred income | 492/3 | - | €50,000 | +€50,000 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,221 | €1,360 | +€139 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,114 | €58,913 | +€2,799 | +5.0% |
| Other operating charges | 640/8 | €7,737 | €37,482 | +€29,746 | +384% |
| Gross operating margin | 9900 | €190,951 | €285,552 | +€94,601 | +49.5% |
| Operating profit (loss) | 9901 | €125,880 | €187,797 | +€61,918 | +49.2% |
| Financial income | 75/76B | €1,410 | €2,187 | +€777 | +55.1% |
| Recurring financial income | 75 | €1,410 | €2,187 | +€777 | +55.1% |
| Financial charges | 65/66B | €9,664 | €13,644 | +€3,980 | +41.2% |
| Recurring financial charges | 65 | €9,664 | €13,644 | +€3,980 | +41.2% |
| Profit (loss) for the period before taxes | 9903 | €117,627 | €176,341 | +€58,714 | +49.9% |
| Income taxes | 67/77 | €30,149 | €41,515 | +€11,366 | +37.7% |
| Profit (loss) for the period | 9904 | €87,478 | €134,826 | +€47,348 | +54.1% |
| Profit (loss) for the period to be appropriated | 9905 | €87,478 | €134,826 | +€47,348 | +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 16 October 2026 via checked.be.