Insulco: 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.
Insulco
Largest movements
- Cash +€222,944
up €222,944 (+53.7%), from €414,873 to €637,816
mainly Stocks and contracts (+€173,520) and Net result for the year (+€161,943)
- Stocks and contracts -€173,520
down €173,520 (-23.1%), from €752,783 to €579,263
- Other debts -€300,000
no longer reported in 2025 (was €300,000)
- Profit (loss) carried forward +€161,943
up €161,943 (+16.5%), from €979,596 to €1.1m
- Trade debts +€160,815
up €160,815 (+134%), from €119,608 to €280,423
- Tax, wage and social debts +€30,391
up €30,391 (+75.3%), from €40,347 to €70,739
of which Taxes: +€15,548
- Staff costs -€30,549
down €30,549 (-6.4%), from €474,578 to €444,029
- Gross operating margin +€14,980
up €14,980 (+2.0%), from €733,054 to €748,034
- Taxes -€9,625
down €9,625 (-16.5%), from €58,403 to €48,778
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 | €1,574,475 | €1,628,685 | +€54,210 | +3.4% |
| Fixed assets | 21/28 | €210,944 | €215,246 | +€4,302 | +2.0% |
| Tangible fixed assets | 22/27 | €183,794 | €188,097 | +€4,302 | +2.3% |
| Plant, machinery and equipment | 23 | €38,286 | €25,838 | -€12,448 | -32.5% |
| Furniture and vehicles | 24 | €144,617 | €156,184 | +€11,566 | +8.0% |
| Other tangible fixed assets | 26 | €891 | €6,075 | +€5,184 | +582% |
| Financial fixed assets | 28 | €27,150 | €27,150 | = | 0.0% |
| Current assets | 29/58 | €1,363,531 | €1,413,438 | +€49,907 | +3.7% |
| Stocks and contracts in progress | 3 | €752,783 | €579,263 | -€173,520 | -23.1% |
| Stocks | 30/36 | €752,783 | €579,263 | -€173,520 | -23.1% |
| Amounts receivable within one year | 40/41 | €190,896 | €195,845 | +€4,949 | +2.6% |
| Trade receivables | 40 | €184,141 | €186,288 | +€2,146 | +1.2% |
| Other amounts receivable | 41 | €6,754 | €9,557 | +€2,802 | +41.5% |
| Current investments | 50/53 | €4,980 | €515 | -€4,465 | -89.7% |
| Cash at bank and in hand | 54/58 | €414,873 | €637,816 | +€222,944 | +53.7% |
| Total equity and liabilities | 10/49 | €1,574,475 | €1,628,685 | +€54,210 | +3.4% |
| Equity | 10/15 | €1,084,206 | €1,246,149 | +€161,943 | +14.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €4,611 | €4,611 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,132 | €2,132 | = | 0.0% |
| Profit (loss) carried forward | 14 | €979,596 | €1,141,538 | +€161,943 | +16.5% |
| Provisions and deferred taxes | 16 | €9,916 | €9,916 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €9,916 | €9,916 | = | 0.0% |
| Environmental obligations | 163 | €9,916 | €9,916 | = | 0.0% |
| Amounts payable | 17/49 | €480,353 | €372,620 | -€107,733 | -22.4% |
| Amounts payable within one year | 42/48 | €459,955 | €351,161 | -€108,794 | -23.7% |
| Trade debts | 44 | €119,608 | €280,423 | +€160,815 | +134% |
| Suppliers | 440/4 | €119,608 | €280,423 | +€160,815 | +134% |
| Taxes, remuneration and social security | 45 | €40,347 | €70,739 | +€30,391 | +75.3% |
| Taxes | 450/3 | €6,117 | €21,665 | +€15,548 | +254% |
| Remuneration and social security | 454/9 | €34,230 | €49,074 | +€14,844 | +43.4% |
| Other amounts payable | 47/48 | €300,000 | - | -€300,000 | |
| Accrued charges and deferred income | 492/3 | €20,397 | €21,458 | +€1,061 | +5.2% |
| Remuneration, social security and pensions | 62 | €474,578 | €444,029 | -€30,549 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,948 | €69,903 | -€7,045 | -9.2% |
| Other operating charges | 640/8 | €172 | €112 | -€60 | -34.8% |
| Gross operating margin | 9900 | €733,054 | €748,034 | +€14,980 | +2.0% |
| Operating profit (loss) | 9901 | €181,356 | €233,990 | +€52,634 | +29.0% |
| Financial income | 75/76B | €5,592 | €1,331 | -€4,261 | -76.2% |
| Recurring financial income | 75 | €5,592 | €1,331 | -€4,261 | -76.2% |
| Financial charges | 65/66B | €22,956 | €24,601 | +€1,645 | +7.2% |
| Recurring financial charges | 65 | €22,956 | €24,601 | +€1,645 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €163,992 | €210,721 | +€46,729 | +28.5% |
| Income taxes | 67/77 | €58,403 | €48,778 | -€9,625 | -16.5% |
| Profit (loss) for the period | 9904 | €105,589 | €161,943 | +€56,354 | +53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €105,589 | €161,943 | +€56,354 | +53.4% |
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 30 October 2026 via checked.be.