INSULCON N.V.: what changed
What changed
INSULCON N.V.
NACE 13.960, Manufacture of textiles
filed annual accounts (NBB)
Net result for the year
€213,121
2024 · €337,575-€124,454
Equity
€1.5m
2024 · €1.6m-€86,879
Cash
€4,919
2024 · €12,618-€7,699
Balance sheet total
€3.0m
2024 · €3.5m-€527,858
Largest movements
Assets
- Receivables within one year -€454,285
down €454,285 (-44.1%), from €1.0m to €576,849
of which Trade receivables: -€397,373
- Tangible fixed assets -€124,390
down €124,390 (-14.4%), from €862,737 to €738,347
of which Furniture and vehicles: -€100,918
- Stocks and contracts +€45,910
up €45,910 (+2.9%), from €1.6m to €1.6m
Equity and liabilities
- Other debts -€348,222
down €348,222 (-91.9%), from €378,997 to €30,776
- Trade debts -€116,636
down €116,636 (-11.1%), from €1.1m to €935,152
- Profit (loss) carried forward -€86,879
down €86,879 (-11.0%), from €792,979 to €706,100
Income statement
- Gross operating margin -€80,815
down €80,815 (-2.4%), from €3.3m to €3.3m
- Staff costs +€74,911
up €74,911 (+2.9%), from €2.6m to €2.6m
- Taxes -€49,583
down €49,583 (-33.3%), from €149,046 to €99,462
- Write-downs +€42,110
up €42,110, from -€35,915 to €6,195
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€337,575
Gross operating margin
-€80,815
Staff costs
-€74,911
Depreciation
+€3,059
Write-downs
-€42,110
Other operating charges
+€5,911
Financial income
-€7,289
Financial charges
+€22,118
Taxes
+€49,583
Result 2025
€213,121
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€359,103
Investment
-€66,802
Financing
-€300,000
Cash 2024
€12,618
From operations (derived)
+€359,103
Net result for the year
+€213,121
Depreciation
+€191,084
Stocks and contracts
-€45,910
Receivables within one year
+€454,285
Deferred charges and accrued income
-€12,498
Trade debts
-€116,636
Tax, wage and social debts
+€12,708
Advances received
+€11,170
Other debts
-€348,222
Investment (derived)
-€66,802
Investment in fixed assets (net)
-€66,802
Financing
-€300,000
Contributions, distributions and other
-€300,000
Cash 2025
€4,919
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,525,263 | €2,997,404 | -€527,858 | -15.0% |
| Fixed assets | 21/28 | €864,699 | €740,417 | -€124,282 | -14.4% |
| Tangible fixed assets | 22/27 | €862,737 | €738,347 | -€124,390 | -14.4% |
| Land and buildings | 22 | €273,007 | €253,526 | -€19,481 | -7.1% |
| Plant, machinery and equipment | 23 | €346,605 | €342,614 | -€3,991 | -1.2% |
| Furniture and vehicles | 24 | €243,125 | €142,207 | -€100,918 | -41.5% |
| Financial fixed assets | 28 | €1,962 | €2,070 | +€108 | +5.5% |
| Current assets | 29/58 | €2,660,564 | €2,256,987 | -€403,577 | -15.2% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €1,570,597 | €1,616,507 | +€45,910 | +2.9% |
| Stocks | 30/36 | €1,570,597 | €1,616,507 | +€45,910 | +2.9% |
| Amounts receivable within one year | 40/41 | €1,031,134 | €576,849 | -€454,285 | -44.1% |
| Trade receivables | 40 | €971,703 | €574,329 | -€397,373 | -40.9% |
| Other amounts receivable | 41 | €59,432 | €2,520 | -€56,912 | -95.8% |
| Cash at bank and in hand | 54/58 | €12,618 | €4,919 | -€7,699 | -61.0% |
| Deferred charges and accrued income | 490/1 | €46,215 | €58,713 | +€12,498 | +27.0% |
| Total equity and liabilities | 10/49 | €3,525,263 | €2,997,404 | -€527,858 | -15.0% |
| Equity | 10/15 | €1,624,525 | €1,537,646 | -€86,879 | -5.3% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Capital | 10 | €750,000 | €750,000 | = | 0.0% |
| Issued capital | 100 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €81,546 | €81,546 | = | 0.0% |
| Non-distributable reserves | 130/1 | €75,000 | €75,000 | = | 0.0% |
| Legal reserve | 130 | €75,000 | €75,000 | = | 0.0% |
| Distributable reserves | 133 | €6,546 | €6,546 | = | 0.0% |
| Profit (loss) carried forward | 14 | €792,979 | €706,100 | -€86,879 | -11.0% |
| Amounts payable | 17/49 | €1,900,738 | €1,459,758 | -€440,979 | -23.2% |
| Amounts payable within one year | 42/48 | €1,900,738 | €1,459,758 | -€440,979 | -23.2% |
| Trade debts | 44 | €1,051,787 | €935,152 | -€116,636 | -11.1% |
| Suppliers | 440/4 | €1,051,787 | €935,152 | -€116,636 | -11.1% |
| Advances received on contracts in progress | 46 | €0 | €11,170 | +€11,170 | |
| Taxes, remuneration and social security | 45 | €469,953 | €482,661 | +€12,708 | +2.7% |
| Taxes | 450/3 | €84,597 | €110,873 | +€26,276 | +31.1% |
| Remuneration and social security | 454/9 | €385,356 | €371,788 | -€13,568 | -3.5% |
| Other amounts payable | 47/48 | €378,997 | €30,776 | -€348,222 | -91.9% |
| Remuneration, social security and pensions | 62 | €2,555,392 | €2,630,303 | +€74,911 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €194,143 | €191,084 | -€3,059 | -1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€35,915 | €6,195 | +€42,110 | |
| Other operating charges | 640/8 | €62,044 | €56,133 | -€5,911 | -9.5% |
| Gross operating margin | 9900 | €3,348,583 | €3,267,768 | -€80,815 | -2.4% |
| Operating profit (loss) | 9901 | €572,919 | €384,053 | -€188,866 | -33.0% |
| Financial income | 75/76B | €12,475 | €5,187 | -€7,289 | -58.4% |
| Recurring financial income | 75 | €12,475 | €5,187 | -€7,289 | -58.4% |
| Financial charges | 65/66B | €98,774 | €76,657 | -€22,118 | -22.4% |
| Recurring financial charges | 65 | €98,774 | €76,657 | -€22,118 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €486,620 | €312,583 | -€174,037 | -35.8% |
| Income taxes | 67/77 | €149,046 | €99,462 | -€49,583 | -33.3% |
| Profit (loss) for the period | 9904 | €337,575 | €213,121 | -€124,454 | -36.9% |
| Profit (loss) for the period to be appropriated | 9905 | €337,575 | €213,121 | -€124,454 | -36.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.