INSTRUMATIC: 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.
INSTRUMATIC
Largest movements
- Financial fixed assets +€550,800
new in 2025: €550,800
- Cash -€13,667
down €13,667 (-59.7%), from €22,883 to €9,217
mainly Investment in fixed assets (net) (-€550,800) and Deferred charges and accrued income (-€10,163)
- Deferred charges and accrued income +€10,163
new in 2025: €10,163
- Receivables within one year -€8,421
down €8,421 (-43.4%), from €19,420 to €10,999
of which Trade receivables: -€8,807
- Stocks and contracts +€8,032
up €8,032 (+766%), from €1,049 to €9,081
- Current portion of long-term debt +€276,594
up €276,594 (+4,498%), from €6,149 to €282,743
- Debts after one year +€256,625
up €256,625 (+687%), from €37,382 to €294,006
- Gross operating margin -€15,015
down €15,015 (-44.1%), from €34,062 to €19,046
- Other operating charges -€4,457
down €4,457 (-96.8%), from €4,605 to €149
- Financial charges +€4,416
up €4,416 (+234%), from €1,889 to €6,305
- Taxes -€4,185
down €4,185 (-93.0%), from €4,500 to €315
- Depreciation +€3,122
up €3,122 (+68.2%), from €4,579 to €7,701
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 | €73,259 | €612,466 | +€539,207 | +736% |
| Fixed assets | 21/28 | €29,907 | €573,006 | +€543,100 | +1,816% |
| Tangible fixed assets | 22/27 | €29,907 | €22,206 | -€7,701 | -25.7% |
| Plant, machinery and equipment | 23 | €3,113 | €2,336 | -€777 | -25.0% |
| Furniture and vehicles | 24 | €26,794 | €19,870 | -€6,924 | -25.8% |
| Financial fixed assets | 28 | - | €550,800 | +€550,800 | |
| Current assets | 29/58 | €43,352 | €39,460 | -€3,893 | -9.0% |
| Stocks and contracts in progress | 3 | €1,049 | €9,081 | +€8,032 | +766% |
| Stocks | 30/36 | €1,049 | €9,081 | +€8,032 | +766% |
| Amounts receivable within one year | 40/41 | €19,420 | €10,999 | -€8,421 | -43.4% |
| Trade receivables | 40 | €15,920 | €7,114 | -€8,807 | -55.3% |
| Other amounts receivable | 41 | €3,500 | €3,886 | +€386 | +11.0% |
| Cash at bank and in hand | 54/58 | €22,883 | €9,217 | -€13,667 | -59.7% |
| Deferred charges and accrued income | 490/1 | - | €10,163 | +€10,163 | |
| Total equity and liabilities | 10/49 | €73,259 | €612,466 | +€539,207 | +736% |
| Equity | 10/15 | €23,522 | €28,099 | +€4,577 | +19.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,522 | €23,099 | +€4,577 | +24.7% |
| Amounts payable | 17/49 | €49,737 | €584,367 | +€534,630 | +1,075% |
| Amounts payable after more than one year | 17 | €37,382 | €294,006 | +€256,625 | +687% |
| Financial debts | 170/4 | €37,382 | €294,006 | +€256,625 | +687% |
| Amounts payable within one year | 42/48 | €12,356 | €290,361 | +€278,005 | +2,250% |
| Current portion of amounts payable after more than one year | 42 | €6,149 | €282,743 | +€276,594 | +4,498% |
| Trade debts | 44 | €1,535 | €6,315 | +€4,780 | +311% |
| Suppliers | 440/4 | €1,535 | €6,315 | +€4,780 | +311% |
| Taxes, remuneration and social security | 45 | €3,836 | €467 | -€3,368 | -87.8% |
| Taxes | 450/3 | €3,836 | €467 | -€3,368 | -87.8% |
| Other amounts payable | 47/48 | €836 | €836 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,579 | €7,701 | +€3,122 | +68.2% |
| Other operating charges | 640/8 | €4,605 | €149 | -€4,457 | -96.8% |
| Gross operating margin | 9900 | €34,062 | €19,046 | -€15,015 | -44.1% |
| Operating profit (loss) | 9901 | €24,878 | €11,197 | -€13,681 | -55.0% |
| Financial income | 75/76B | €33 | - | -€33 | |
| Recurring financial income | 75 | €33 | - | -€33 | |
| Financial charges | 65/66B | €1,889 | €6,305 | +€4,416 | +234% |
| Recurring financial charges | 65 | €1,889 | €6,305 | +€4,416 | +234% |
| Profit (loss) for the period before taxes | 9903 | €23,022 | €4,892 | -€18,130 | -78.8% |
| Income taxes | 67/77 | €4,500 | €315 | -€4,185 | -93.0% |
| Profit (loss) for the period | 9904 | €18,522 | €4,577 | -€13,945 | -75.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,522 | €4,577 | -€13,945 | -75.3% |
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 31 October 2026 via checked.be.