INWACO: what changed
What changed
INWACO
NACE 49.500, Land transport and transport via pipelines
filed annual accounts (NBB)
Net result for the year
€15,526
2023 · €38,364-€22,838
Equity
€115,955
2023 · €132,230-€16,274
Cash
€129,451
2023 · €82,158+€47,293
Balance sheet total
€376,136
2023 · €345,980+€30,156
Largest movements
Assets
- Cash +€47,293
up €47,293 (+57.6%), from €82,158 to €129,451
mainly Trade debts (+€26,047) and Other debts (+€17,679)
- Stocks and contracts -€13,409
down €13,409 (-9.2%), from €145,044 to €131,635
- Receivables within one year -€9,355
down €9,355 (-8.4%), from €111,182 to €101,827
of which Trade receivables: -€11,220
- Deferred charges and accrued income +€5,116
up €5,116 (+204%), from €2,502 to €7,618
Equity and liabilities
- Trade debts +€26,047
up €26,047 (+14.9%), from €175,141 to €201,188
- Other debts +€17,679
up €17,679 (+123%), from €14,378 to €32,057
- Reserves -€16,274
down €16,274 (-15.3%), from €106,573 to €90,299
of which Distributable reserves: -€14,411
Income statement
- Staff costs +€55,249
up €55,249 (+29.0%), from €190,330 to €245,579
- Gross operating margin +€20,092
up €20,092 (+7.7%), from €260,995 to €281,087
- Taxes -€10,242
down €10,242 (-52.9%), from €19,373 to €9,130
Change in the result, 2023 to 2024
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 2023
€38,364
Gross operating margin
+€20,092
Staff costs
-€55,249
Depreciation
+€195
Other operating charges
-€7
Financial income
+€90
Financial charges
+€1,799
Taxes
+€10,242
Result 2024
€15,526
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€82,471
Investment
-€3,378
Financing
-€31,800
Cash 2023
€82,158
From operations (derived)
+€82,471
Net result for the year
+€15,526
Depreciation
+€2,867
Stocks and contracts
+€13,409
Receivables within one year
+€9,355
Deferred charges and accrued income
-€5,116
Trade debts
+€26,047
Tax, wage and social debts
+€2,705
Other debts
+€17,679
Investment (derived)
-€3,378
Investment in fixed assets (net)
-€3,378
Financing
-€31,800
Contributions, distributions and other
-€31,800
Cash 2024
€129,451
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €345,980 | €376,136 | +€30,156 | +8.7% |
| Fixed assets | 21/28 | €5,093 | €5,604 | +€511 | +10.0% |
| Tangible fixed assets | 22/27 | €4,554 | €5,065 | +€511 | +11.2% |
| Plant, machinery and equipment | 23 | €3,593 | €4,933 | +€1,341 | +37.3% |
| Furniture and vehicles | 24 | €962 | €132 | -€830 | -86.3% |
| Financial fixed assets | 28 | €539 | €539 | = | 0.0% |
| Current assets | 29/58 | €340,886 | €370,531 | +€29,645 | +8.7% |
| Stocks and contracts in progress | 3 | €145,044 | €131,635 | -€13,409 | -9.2% |
| Stocks | 30/36 | €145,044 | €131,635 | -€13,409 | -9.2% |
| Amounts receivable within one year | 40/41 | €111,182 | €101,827 | -€9,355 | -8.4% |
| Trade receivables | 40 | €104,704 | €93,484 | -€11,220 | -10.7% |
| Other amounts receivable | 41 | €6,477 | €8,343 | +€1,866 | +28.8% |
| Cash at bank and in hand | 54/58 | €82,158 | €129,451 | +€47,293 | +57.6% |
| Deferred charges and accrued income | 490/1 | €2,502 | €7,618 | +€5,116 | +204% |
| Total equity and liabilities | 10/49 | €345,980 | €376,136 | +€30,156 | +8.7% |
| Equity | 10/15 | €132,230 | €115,955 | -€16,274 | -12.3% |
| Contributions | 10/11 | €25,657 | €25,657 | = | 0.0% |
| Reserves | 13 | €106,573 | €90,299 | -€16,274 | -15.3% |
| Non-distributable reserves | 130/1 | €1,863 | - | -€1,863 | |
| Reserves not available under the articles | 1311 | €1,863 | - | -€1,863 | |
| Tax-exempt reserves | 132 | €138 | €138 | = | 0.0% |
| Distributable reserves | 133 | €104,572 | €90,161 | -€14,411 | -13.8% |
| Amounts payable | 17/49 | €213,750 | €260,180 | +€46,430 | +21.7% |
| Amounts payable within one year | 42/48 | €213,750 | €260,180 | +€46,430 | +21.7% |
| Trade debts | 44 | €175,141 | €201,188 | +€26,047 | +14.9% |
| Suppliers | 440/4 | €175,141 | €201,188 | +€26,047 | +14.9% |
| Taxes, remuneration and social security | 45 | €24,231 | €26,936 | +€2,705 | +11.2% |
| Taxes | 450/3 | €11,009 | €3,123 | -€7,886 | -71.6% |
| Remuneration and social security | 454/9 | €13,222 | €23,812 | +€10,591 | +80.1% |
| Other amounts payable | 47/48 | €14,378 | €32,057 | +€17,679 | +123% |
| Remuneration, social security and pensions | 62 | €190,330 | €245,579 | +€55,249 | +29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,062 | €2,867 | -€195 | -6.4% |
| Other operating charges | 640/8 | €693 | €700 | +€7 | +1.0% |
| Gross operating margin | 9900 | €260,995 | €281,087 | +€20,092 | +7.7% |
| Operating profit (loss) | 9901 | €66,910 | €31,941 | -€34,969 | -52.3% |
| Financial income | 75/76B | €10 | €100 | +€90 | +858% |
| Recurring financial income | 75 | €10 | €100 | +€90 | +858% |
| Financial charges | 65/66B | €9,184 | €7,386 | -€1,799 | -19.6% |
| Recurring financial charges | 65 | €8,482 | €7,386 | -€1,096 | -12.9% |
| Non-recurring financial charges | 66B | €703 | - | -€703 | |
| Profit (loss) for the period before taxes | 9903 | €57,736 | €24,656 | -€33,080 | -57.3% |
| Income taxes | 67/77 | €19,373 | €9,130 | -€10,242 | -52.9% |
| Profit (loss) for the period | 9904 | €38,364 | €15,526 | -€22,838 | -59.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,364 | €15,526 | -€22,838 | -59.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.