Introw: 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.
Introw
Largest movements
- Cash +€1.7m
up €1.7m (+492%), from €345,305 to €2.0m
mainly Contributions, distributions and other (+€1.9m) and Accrued charges and deferred income (+€807,779)
- Receivables within one year +€373,562
up €373,562 (+96.8%), from €386,057 to €759,620
of which Other amounts receivable: +€388,033
- Intangible fixed assets +€257,848
up €257,848 (+101%), from €254,949 to €512,797
- Deferred charges and accrued income +€68,811
up €68,811 (+425%), from €16,173 to €84,984
- Contributions +€2.0m
up €2.0m (+320%), from €615,919 to €2.6m
- Accrued charges and deferred income +€807,779
up €807,779 (+1,294%), from €62,413 to €870,192
- Profit (loss) carried forward -€306,146
down €306,146 (-116%), from -€263,362 to -€569,508
- Debts after one year +€132,424
new in 2025: €132,424
- Trade debts -€132,240
down €132,240 (-41.9%), from €315,824 to €183,585
- Gross operating margin +€288,858
up €288,858, from -€112,110 to €176,748
- Staff costs +€275,469
up €275,469 (+143%), from €192,009 to €467,478
- Depreciation +€53,895
up €53,895 (+109%), from €49,614 to €103,509
- Financial charges +€22,444
up €22,444 (+764%), from €2,939 to €25,383
- Financial income +€17,424
up €17,424 (+18.3%), from €95,019 to €112,442
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 | €1,012,632 | €3,432,857 | +€2.4m | +239% |
| Fixed assets | 21/28 | €265,097 | €543,040 | +€277,942 | +105% |
| Intangible fixed assets | 21 | €254,949 | €512,797 | +€257,848 | +101% |
| Tangible fixed assets | 22/27 | €10,148 | €30,243 | +€20,095 | +198% |
| Land and buildings | 22 | €5,513 | €10,561 | +€5,047 | +91.6% |
| Plant, machinery and equipment | 23 | €4,635 | €12,963 | +€8,328 | +180% |
| Furniture and vehicles | 24 | - | €6,719 | +€6,719 | |
| Current assets | 29/58 | €747,535 | €2,889,817 | +€2.1m | +287% |
| Amounts receivable within one year | 40/41 | €386,057 | €759,620 | +€373,562 | +96.8% |
| Trade receivables | 40 | €309,066 | €294,595 | -€14,471 | -4.7% |
| Other amounts receivable | 41 | €76,992 | €465,025 | +€388,033 | +504% |
| Cash at bank and in hand | 54/58 | €345,305 | €2,045,214 | +€1.7m | +492% |
| Deferred charges and accrued income | 490/1 | €16,173 | €84,984 | +€68,811 | +425% |
| Total equity and liabilities | 10/49 | €1,012,632 | €3,432,857 | +€2.4m | +239% |
| Equity | 10/15 | €586,798 | €2,146,178 | +€1.6m | +266% |
| Contributions | 10/11 | €615,919 | €2,589,556 | +€2.0m | +320% |
| Profit (loss) carried forward | 14 | -€263,362 | -€569,508 | -€306,146 | -116% |
| Investment grants | 15 | €234,241 | €126,130 | -€108,111 | -46.2% |
| Amounts payable | 17/49 | €425,835 | €1,286,680 | +€860,845 | +202% |
| Amounts payable after more than one year | 17 | - | €132,424 | +€132,424 | |
| Financial debts | 170/4 | - | €132,424 | +€132,424 | |
| Amounts payable within one year | 42/48 | €363,422 | €284,064 | -€79,358 | -21.8% |
| Current portion of amounts payable after more than one year | 42 | - | €17,576 | +€17,576 | |
| Trade debts | 44 | €315,824 | €183,585 | -€132,240 | -41.9% |
| Suppliers | 440/4 | €315,824 | €183,585 | -€132,240 | -41.9% |
| Taxes, remuneration and social security | 45 | €47,598 | €82,903 | +€35,306 | +74.2% |
| Taxes | 450/3 | €3,458 | €9,385 | +€5,927 | +171% |
| Remuneration and social security | 454/9 | €44,139 | €73,518 | +€29,379 | +66.6% |
| Accrued charges and deferred income | 492/3 | €62,413 | €870,192 | +€807,779 | +1,294% |
| Remuneration, social security and pensions | 62 | €192,009 | €467,478 | +€275,469 | +143% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,614 | €103,509 | +€53,895 | +109% |
| Other operating charges | 640/8 | €1,479 | €4,167 | +€2,688 | +182% |
| Gross operating margin | 9900 | -€112,110 | €176,748 | +€288,858 | |
| Operating profit (loss) | 9901 | -€355,212 | -€398,405 | -€43,193 | -12.2% |
| Financial income | 75/76B | €95,019 | €112,442 | +€17,424 | +18.3% |
| Recurring financial income | 75 | €95,019 | €112,442 | +€17,424 | +18.3% |
| Financial charges | 65/66B | €2,939 | €25,383 | +€22,444 | +764% |
| Recurring financial charges | 65 | €2,939 | €25,383 | +€22,444 | +764% |
| Profit (loss) for the period before taxes | 9903 | -€263,133 | -€311,346 | -€48,213 | -18.3% |
| Income taxes | 67/77 | €229 | -€5,200 | -€5,429 | |
| Profit (loss) for the period | 9904 | -€263,362 | -€306,146 | -€42,784 | -16.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€263,362 | -€306,146 | -€42,784 | -16.2% |
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 19 October 2026 via checked.be.