INSTEP: 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.
INSTEP
Largest movements
- Receivables within one year +€18,889
up €18,889 (+83.6%), from €22,583 to €41,472
of which Other amounts receivable: +€17,234
- Reserves +€12,604
up €12,604 (+21.5%), from €58,520 to €71,124
of which Distributable reserves: +€12,604
- Tax, wage and social debts +€12,575
up €12,575 (+487.7%), from €2,578 to €15,153
- Short-term financial debts -€5,558
down €5,558 (-39.4%), from €14,088 to €8,531
- Debts after one year -€1,378
no longer reported in 2025 (was €1,378)
- Financial charges -€17,238
down €17,238 (-34.1%), from €50,596 to €33,358
- Taxes +€6,616
up €6,616 (+1681.9%), from €393 to €7,009
- Depreciation +€1,113
up €1,113 (+14.1%), from €7,886 to €9,000
- Financial income +€954
up €954 (+9537500.0%), from €0 to €954
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 | €79,031 | €96,977 | +€17,947 | +22.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €35,786 | €34,844 | -€942 | -2.6% |
| Tangible fixed assets | 22/27 | €35,786 | €34,844 | -€942 | -2.6% |
| Land and buildings | 22 | €15,640 | €13,322 | -€2,318 | -14.8% |
| Plant, machinery and equipment | 23 | €1,286 | €1,050 | -€236 | -18.4% |
| Furniture and vehicles | 24 | €18,860 | €20,472 | +€1,613 | +8.6% |
| Current assets | 29/58 | €43,244 | €62,133 | +€18,889 | +43.7% |
| Amounts receivable within one year | 40/41 | €22,583 | €41,472 | +€18,889 | +83.6% |
| Trade receivables | 40 | €13,976 | €15,630 | +€1,655 | +11.8% |
| Other amounts receivable | 41 | €8,607 | €25,842 | +€17,234 | +200.2% |
| Cash at bank and in hand | 54/58 | €0 | €0 | = | |
| Deferred charges and accrued income | 490/1 | €20,662 | €20,662 | = | 0.0% |
| Total equity and liabilities | 10/49 | €79,031 | €96,977 | +€17,947 | +22.7% |
| Equity | 10/15 | €58,520 | €71,124 | +€12,604 | +21.5% |
| Reserves | 13 | €58,520 | €71,124 | +€12,604 | +21.5% |
| 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 | €56,660 | €69,264 | +€12,604 | +22.2% |
| Amounts payable | 17/49 | €20,511 | €25,853 | +€5,343 | +26.0% |
| Amounts payable after more than one year | 17 | €1,378 | - | -€1,378 | |
| Financial debts | 170/4 | €1,378 | - | -€1,378 | |
| Amounts payable within one year | 42/48 | €19,133 | €25,853 | +€6,721 | +35.1% |
| Current portion of amounts payable after more than one year | 42 | €2,253 | €1,378 | -€875 | -38.8% |
| Financial debts | 43 | €14,088 | €8,531 | -€5,558 | -39.4% |
| Credit institutions | 430/8 | €14,088 | €8,531 | -€5,558 | -39.4% |
| Trade debts | 44 | €213 | €792 | +€579 | +271.2% |
| Suppliers | 440/4 | €213 | €792 | +€579 | +271.2% |
| Taxes, remuneration and social security | 45 | €2,578 | €15,153 | +€12,575 | +487.7% |
| Taxes | 450/3 | €2,578 | €15,153 | +€12,575 | +487.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,886 | €9,000 | +€1,113 | +14.1% |
| Other operating charges | 640/8 | €971 | €965 | -€6 | -0.6% |
| Gross operating margin | 9900 | €61,533 | €61,983 | +€450 | +0.7% |
| Operating profit (loss) | 9901 | €52,676 | €52,018 | -€657 | -1.2% |
| Financial income | 75/76B | €0 | €954 | +€954 | +9537500.0% |
| Recurring financial income | 75 | €0 | €954 | +€954 | +9537500.0% |
| Financial charges | 65/66B | €50,596 | €33,358 | -€17,238 | -34.1% |
| Recurring financial charges | 65 | €50,596 | €33,358 | -€17,238 | -34.1% |
| Profit (loss) for the period before taxes | 9903 | €2,079 | €19,614 | +€17,534 | +843.3% |
| Income taxes | 67/77 | €393 | €7,009 | +€6,616 | +1681.9% |
| Profit (loss) for the period | 9904 | €1,686 | €12,604 | +€10,918 | +647.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,686 | €12,604 | +€10,918 | +647.6% |
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.