INSTITUT: 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.
INSTITUT
Largest movements
- Tangible fixed assets -€19,918
down €19,918 (-12.6%), from €158,675 to €138,757
of which Land and buildings: -€15,778
- Stocks and contracts -€3,229
down €3,229 (-13.2%), from €24,504 to €21,275
- Debts after one year -€18,707
down €18,707 (-14.7%), from €127,259 to €108,552
- Current portion of long-term debt -€3,284
down €3,284 (-14.9%), from €21,991 to €18,707
- Gross operating margin -€6,158
down €6,158 (-7.4%), from €82,793 to €76,635
- Taxes -€4,216
down €4,216 (-62.8%), from €6,715 to €2,499
- Staff costs +€1,188
up €1,188 (+2.8%), from €42,395 to €43,583
- Other operating charges +€1,054
up €1,054 (+33.7%), from €3,125 to €4,179
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 | €241,266 | €217,351 | -€23,915 | -9.9% |
| Fixed assets | 21/28 | €158,997 | €139,079 | -€19,918 | -12.5% |
| Tangible fixed assets | 22/27 | €158,675 | €138,757 | -€19,918 | -12.6% |
| Land and buildings | 22 | €135,120 | €119,342 | -€15,778 | -11.7% |
| Plant, machinery and equipment | 23 | €23,554 | €19,415 | -€4,139 | -17.6% |
| Financial fixed assets | 28 | €322 | €322 | = | 0.0% |
| Current assets | 29/58 | €82,269 | €78,272 | -€3,997 | -4.9% |
| Stocks and contracts in progress | 3 | €24,504 | €21,275 | -€3,229 | -13.2% |
| Stocks | 30/36 | €24,504 | €21,275 | -€3,229 | -13.2% |
| Amounts receivable within one year | 40/41 | €124 | €124 | = | 0.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €124 | €124 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €56,083 | €55,600 | -€484 | -0.9% |
| Deferred charges and accrued income | 490/1 | €1,558 | €1,273 | -€285 | -18.3% |
| Total equity and liabilities | 10/49 | €241,266 | €217,351 | -€23,915 | -9.9% |
| Equity | 10/15 | €56,247 | €56,493 | +€246 | +0.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25,267 | €25,267 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,440 | €3,440 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,440 | €3,440 | = | 0.0% |
| Distributable reserves | 133 | €21,827 | €21,827 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,380 | €12,626 | +€246 | +2.0% |
| Amounts payable | 17/49 | €185,019 | €160,858 | -€24,161 | -13.1% |
| Amounts payable after more than one year | 17 | €127,259 | €108,552 | -€18,707 | -14.7% |
| Financial debts | 170/4 | €127,259 | €108,552 | -€18,707 | -14.7% |
| Amounts payable within one year | 42/48 | €56,260 | €50,806 | -€5,454 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €21,991 | €18,707 | -€3,284 | -14.9% |
| Trade debts | 44 | €1,558 | €1,040 | -€518 | -33.2% |
| Suppliers | 440/4 | €1,558 | €1,040 | -€518 | -33.2% |
| Taxes, remuneration and social security | 45 | €15,133 | €13,046 | -€2,087 | -13.8% |
| Taxes | 450/3 | €7,413 | €5,098 | -€2,315 | -31.2% |
| Remuneration and social security | 454/9 | €7,719 | €7,948 | +€228 | +3.0% |
| Other amounts payable | 47/48 | €17,578 | €18,013 | +€435 | +2.5% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €42,395 | €43,583 | +€1,188 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,918 | €19,918 | = | 0.0% |
| Other operating charges | 640/8 | €3,125 | €4,179 | +€1,054 | +33.7% |
| Gross operating margin | 9900 | €82,793 | €76,635 | -€6,158 | -7.4% |
| Operating profit (loss) | 9901 | €17,355 | €8,955 | -€8,400 | -48.4% |
| Financial income | 75/76B | €348 | €503 | +€155 | +44.6% |
| Recurring financial income | 75 | €348 | €503 | +€155 | +44.6% |
| Financial charges | 65/66B | €6,763 | €6,712 | -€51 | -0.8% |
| Recurring financial charges | 65 | €6,763 | €6,712 | -€51 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €10,939 | €2,745 | -€8,194 | -74.9% |
| Income taxes | 67/77 | €6,715 | €2,499 | -€4,216 | -62.8% |
| Profit (loss) for the period | 9904 | €4,224 | €246 | -€3,978 | -94.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,224 | €246 | -€3,978 | -94.2% |
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 28 September 2026 via checked.be.