Instore: 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.
Instore
Largest movements
- Stocks and contracts +€2.2m
up €2.2m (+174.0%), from €1.3m to €3.5m
of which Contracts in progress: +€2.8m
- Current investments +€349,926
new in 2025: €349,926
- Receivables within one year +€171,762
up €171,762 (+73.1%), from €234,813 to €406,575
of which Trade receivables: +€212,930
- Cash +€170,982
up €170,982 (+18.9%), from €902,998 to €1.1m
mainly Advances received (+€3.0m) and Depreciation (+€171,424)
- Tangible fixed assets -€132,595
down €132,595 (-11.0%), from €1.2m to €1.1m
of which Other tangible fixed assets: -€107,910
- Advances received +€3.0m
up €3.0m (+670.6%), from €440,634 to €3.4m
- Debts after one year -€184,075
down €184,075 (-14.6%), from €1.3m to €1.1m
of which Financial debts: -€184,075
- Staff costs +€88,637
up €88,637 (+30.2%), from €293,245 to €381,882
- Gross operating margin +€87,958
up €87,958 (+14.0%), from €628,149 to €716,107
- Depreciation -€13,232
down €13,232 (-7.2%), from €184,655 to €171,424
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 | €3,671,822 | €6,460,359 | +€2.8m | +75.9% |
| Fixed assets | 21/28 | €1,225,880 | €1,086,727 | -€139,153 | -11.4% |
| Intangible fixed assets | 21 | €21,345 | €14,787 | -€6,558 | -30.7% |
| Tangible fixed assets | 22/27 | €1,201,338 | €1,068,743 | -€132,595 | -11.0% |
| Plant, machinery and equipment | 23 | €1,088 | €469 | -€618 | -56.8% |
| Furniture and vehicles | 24 | €133,894 | €109,828 | -€24,066 | -18.0% |
| Other tangible fixed assets | 26 | €1,066,356 | €958,445 | -€107,910 | -10.1% |
| Financial fixed assets | 28 | €3,198 | €3,198 | = | 0.0% |
| Current assets | 29/58 | €2,445,942 | €5,373,631 | +€2.9m | +119.7% |
| Stocks and contracts in progress | 3 | €1,280,826 | €3,509,093 | +€2.2m | +174.0% |
| Stocks | 30/36 | €1,218,546 | €682,113 | -€536,433 | -44.0% |
| Contracts in progress | 37 | €62,279 | €2,826,980 | +€2.8m | +4439.2% |
| Amounts receivable within one year | 40/41 | €234,813 | €406,575 | +€171,762 | +73.1% |
| Trade receivables | 40 | €186,645 | €399,575 | +€212,930 | +114.1% |
| Other amounts receivable | 41 | €48,168 | €7,000 | -€41,168 | -85.5% |
| Current investments | 50/53 | - | €349,926 | +€349,926 | |
| Cash at bank and in hand | 54/58 | €902,998 | €1,073,980 | +€170,982 | +18.9% |
| Deferred charges and accrued income | 490/1 | €27,305 | €34,058 | +€6,754 | +24.7% |
| Total equity and liabilities | 10/49 | €3,671,822 | €6,460,359 | +€2.8m | +75.9% |
| Equity | 10/15 | €1,132,661 | €1,180,319 | +€47,658 | +4.2% |
| Contributions | 10/11 | €99,200 | €99,200 | = | 0.0% |
| Capital | 10 | €99,200 | €99,200 | = | 0.0% |
| Issued capital | 100 | €99,200 | €99,200 | = | 0.0% |
| Reserves | 13 | €833,100 | €833,100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,100 | €24,100 | = | 0.0% |
| Legal reserve | 130 | €24,100 | €24,100 | = | 0.0% |
| Distributable reserves | 133 | €809,000 | €809,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €114,225 | €176,239 | +€62,014 | +54.3% |
| Investment grants | 15 | €86,137 | €71,781 | -€14,356 | -16.7% |
| Amounts payable | 17/49 | €2,539,160 | €5,280,040 | +€2.7m | +107.9% |
| Amounts payable after more than one year | 17 | €1,257,424 | €1,073,349 | -€184,075 | -14.6% |
| Financial debts | 170/4 | €857,424 | €673,349 | -€184,075 | -21.5% |
| Other amounts payable | 178/9 | €400,000 | €400,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,281,011 | €4,206,691 | +€2.9m | +228.4% |
| Current portion of amounts payable after more than one year | 42 | €220,321 | €201,125 | -€19,195 | -8.7% |
| Trade debts | 44 | €417,163 | €415,734 | -€1,429 | -0.3% |
| Suppliers | 440/4 | €417,163 | €415,734 | -€1,429 | -0.3% |
| Advances received on contracts in progress | 46 | €440,634 | €3,395,606 | +€3.0m | +670.6% |
| Taxes, remuneration and social security | 45 | €113,891 | €101,810 | -€12,081 | -10.6% |
| Taxes | 450/3 | €79,303 | €74,773 | -€4,530 | -5.7% |
| Remuneration and social security | 454/9 | €34,588 | €27,038 | -€7,551 | -21.8% |
| Other amounts payable | 47/48 | €89,002 | €92,416 | +€3,414 | +3.8% |
| Accrued charges and deferred income | 492/3 | €726 | €0 | -€726 | -100.0% |
| Remuneration, social security and pensions | 62 | €293,245 | €381,882 | +€88,637 | +30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €184,655 | €171,424 | -€13,232 | -7.2% |
| Other operating charges | 640/8 | €6,055 | €12,575 | +€6,520 | +107.7% |
| Gross operating margin | 9900 | €628,149 | €716,107 | +€87,958 | +14.0% |
| Operating profit (loss) | 9901 | €144,194 | €150,226 | +€6,032 | +4.2% |
| Financial income | 75/76B | €15,094 | €18,898 | +€3,803 | +25.2% |
| Recurring financial income | 75 | €15,094 | €18,898 | +€3,803 | +25.2% |
| Financial charges | 65/66B | €31,992 | €26,609 | -€5,382 | -16.8% |
| Recurring financial charges | 65 | €31,992 | €26,609 | -€5,382 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €127,296 | €142,514 | +€15,218 | +12.0% |
| Income taxes | 67/77 | €39,839 | €36,500 | -€3,339 | -8.4% |
| Profit (loss) for the period | 9904 | €87,457 | €106,014 | +€18,557 | +21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €87,457 | €106,014 | +€18,557 | +21.2% |
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 8 October 2026 via checked.be.