INWE: what changed
Two fiscal 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.
INWE
Largest movements
- Receivables within one year -€122,178
down €122,178 (-89.9%), from €135,866 to €13,688
- Cash -€111,464
down €111,464 (-53.9%), from €206,732 to €95,268
mainly Contributions, distributions and other (-€163,132) and Other debts (-€126,000)
- Tangible fixed assets +€34,347
up €34,347 (+38.9%), from €88,244 to €122,591
of which Land and buildings: +€49,134
- Deferred charges and accrued income +€24,813
up €24,813 (+21.2%), from €116,978 to €141,790
- Other debts -€126,000
no longer reported in 2025 (was €126,000)
- Tax, wage and social debts -€54,000
no longer reported in 2025 (was €54,000)
- Reserves +€23,420
up €23,420 (+8.3%), from €281,493 to €304,913
- Debts after one year -€16,155
down €16,155 (-34.9%), from €46,342 to €30,187
- Gross operating margin +€23,778
up €23,778 (+8.6%), from €275,564 to €299,343
- Taxes +€23,751
up €23,751 (+39.6%), from €59,977 to €83,728
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 | €547,820 | €373,337 | -€174,483 | -31.9% |
| Fixed assets | 21/28 | €88,244 | €122,591 | +€34,347 | +38.9% |
| Tangible fixed assets | 22/27 | €88,244 | €122,591 | +€34,347 | +38.9% |
| Land and buildings | 22 | €13,034 | €62,167 | +€49,134 | +377.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €74,010 | €59,223 | -€14,786 | -20.0% |
| Other tangible fixed assets | 26 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €459,576 | €250,746 | -€208,830 | -45.4% |
| Amounts receivable within one year | 40/41 | €135,866 | €13,688 | -€122,178 | -89.9% |
| Other amounts receivable | 41 | €135,866 | €13,688 | -€122,178 | -89.9% |
| Cash at bank and in hand | 54/58 | €206,732 | €95,268 | -€111,464 | -53.9% |
| Deferred charges and accrued income | 490/1 | €116,978 | €141,790 | +€24,813 | +21.2% |
| Total equity and liabilities | 10/49 | €547,820 | €373,337 | -€174,483 | -31.9% |
| Equity | 10/15 | €300,093 | €323,513 | +€23,420 | +7.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €281,493 | €304,913 | +€23,420 | +8.3% |
| Distributable reserves | 133 | €281,493 | €304,913 | +€23,420 | +8.3% |
| Amounts payable | 17/49 | €247,727 | €49,824 | -€197,903 | -79.9% |
| Amounts payable after more than one year | 17 | €46,342 | €30,187 | -€16,155 | -34.9% |
| Financial debts | 170/4 | €46,342 | €30,187 | -€16,155 | -34.9% |
| Amounts payable within one year | 42/48 | €201,385 | €19,637 | -€181,748 | -90.2% |
| Current portion of amounts payable after more than one year | 42 | €15,404 | €16,155 | +€750 | +4.9% |
| Trade debts | 44 | €5,980 | €3,482 | -€2,498 | -41.8% |
| Suppliers | 440/4 | €5,980 | €3,482 | -€2,498 | -41.8% |
| Taxes, remuneration and social security | 45 | €54,000 | - | -€54,000 | |
| Taxes | 450/3 | €54,000 | - | -€54,000 | |
| Other amounts payable | 47/48 | €126,000 | - | -€126,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,894 | €23,777 | -€116 | -0.5% |
| Other operating charges | 640/8 | €1,554 | €958 | -€596 | -38.3% |
| Non-recurring operating charges | 66A | - | €1,564 | +€1,564 | |
| Gross operating margin | 9900 | €275,564 | €299,343 | +€23,778 | +8.6% |
| Operating profit (loss) | 9901 | €250,117 | €273,043 | +€22,927 | +9.2% |
| Financial charges | 65/66B | €3,576 | €2,763 | -€813 | -22.7% |
| Recurring financial charges | 65 | €3,576 | €2,763 | -€813 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | €246,540 | €270,280 | +€23,740 | +9.6% |
| Income taxes | 67/77 | €59,977 | €83,728 | +€23,751 | +39.6% |
| Profit (loss) for the period | 9904 | €186,563 | €186,552 | -€11 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €186,563 | €186,552 | -€11 | 0.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.