Inukshuk: 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.
Inukshuk
Largest movements
- Financial fixed assets +€1.3m
up €1.3m (+12.7%), from €10.5m to €11.8m
- Other debts +€785,500
up €785,500 (+113.2%), from €693,735 to €1.5m
- Debts after one year +€571,846
up €571,846 (+10.6%), from €5.4m to €6.0m
- Current portion of long-term debt +€416,665
up €416,665 (+100.0%), from €416,665 to €833,330
- Accrued charges and deferred income -€240,000
no longer reported in 2025 (was €240,000)
- Profit (loss) carried forward -€185,813
new in 2025: -€185,813
- Gross operating margin -€193,303
down €193,303 (-74.3%), from €260,289 to €66,985
- Financial charges +€27,297
up €27,297 (+12.1%), from €226,522 to €253,819
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 | €10,937,093 | €12,278,819 | +€1.3m | +12.3% |
| Fixed assets | 21/28 | €10,450,000 | €11,778,550 | +€1.3m | +12.7% |
| Financial fixed assets | 28 | €10,450,000 | €11,778,550 | +€1.3m | +12.7% |
| Current assets | 29/58 | €487,093 | €500,269 | +€13,176 | +2.7% |
| Amounts receivable within one year | 40/41 | €485,189 | €481,660 | -€3,529 | -0.7% |
| Trade receivables | 40 | - | €174,536 | +€174,536 | |
| Other amounts receivable | 41 | €485,189 | €307,124 | -€178,065 | -36.7% |
| Cash at bank and in hand | 54/58 | €1,904 | €18,609 | +€16,705 | +877.3% |
| Total equity and liabilities | 10/49 | €10,937,093 | €12,278,819 | +€1.3m | +12.3% |
| Equity | 10/15 | €3,879,678 | €3,693,865 | -€185,813 | -4.8% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €2,379,678 | €2,379,678 | = | 0.0% |
| Distributable reserves | 133 | €2,379,678 | €2,379,678 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€185,813 | -€185,813 | |
| Amounts payable | 17/49 | €7,057,415 | €8,584,954 | +€1.5m | +21.6% |
| Amounts payable after more than one year | 17 | €5,387,177 | €5,959,022 | +€571,846 | +10.6% |
| Financial debts | 170/4 | €5,387,177 | €5,959,022 | +€571,846 | +10.6% |
| Amounts payable within one year | 42/48 | €1,430,239 | €2,625,932 | +€1.2m | +83.6% |
| Current portion of amounts payable after more than one year | 42 | €416,665 | €833,330 | +€416,665 | +100.0% |
| Trade debts | 44 | €311,394 | €313,367 | +€1,973 | +0.6% |
| Suppliers | 440/4 | €311,394 | €313,367 | +€1,973 | +0.6% |
| Taxes, remuneration and social security | 45 | €8,445 | - | -€8,445 | |
| Taxes | 450/3 | €8,445 | - | -€8,445 | |
| Other amounts payable | 47/48 | €693,735 | €1,479,235 | +€785,500 | +113.2% |
| Accrued charges and deferred income | 492/3 | €240,000 | - | -€240,000 | |
| Other operating charges | 640/8 | €118 | €186 | +€68 | +57.4% |
| Gross operating margin | 9900 | €260,289 | €66,985 | -€193,303 | -74.3% |
| Operating profit (loss) | 9901 | €260,171 | €66,799 | -€193,371 | -74.3% |
| Financial income | 75/76B | - | €1,207 | +€1,207 | |
| Recurring financial income | 75 | - | €1,207 | +€1,207 | |
| Financial charges | 65/66B | €226,522 | €253,819 | +€27,297 | +12.1% |
| Recurring financial charges | 65 | €226,522 | €253,819 | +€27,297 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €33,649 | -€185,813 | -€219,461 | |
| Income taxes | 67/77 | €2,357 | - | -€2,357 | |
| Profit (loss) for the period | 9904 | €31,292 | -€185,813 | -€217,105 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,292 | -€185,813 | -€217,105 |
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 10 October 2026 via checked.be.