NEW INSTRUPHAR: 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.
NEW INSTRUPHAR
Largest movements
- Tangible fixed assets -€52,936
down €52,936 (-10.9%), from €485,510 to €432,574
of which Plant, machinery and equipment: -€26,780
- Receivables within one year -€16,681
down €16,681 (-42.7%), from €39,036 to €22,355
of which Other amounts receivable: -€10,142
- Cash -€11,101
down €11,101 (-14.4%), from €76,888 to €65,787
mainly Net result for the year (-€34,248) and Contributions, distributions and other (-€30,000)
- Reserves -€64,248
down €64,248 (-14.2%), from €453,313 to €389,065
of which Tax-exempt reserves: -€36,363
- Debts after one year -€18,312
down €18,312 (-34.7%), from €52,726 to €34,414
- Other debts +€11,407
new in 2025: €11,407
- Provisions -€9,319
down €9,319 (-18.4%), from €50,582 to €41,263
- Gross operating margin -€16,026
down €16,026 (-15.2%), from €105,648 to €89,622
- Taxes -€5,998
down €5,998 (-75.6%), from €7,934 to €1,936
- Staff costs +€4,661
up €4,661 (+7.3%), from €64,015 to €68,676
- Depreciation -€2,370
down €2,370 (-4.3%), from €55,306 to €52,936
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 | €677,346 | €599,845 | -€77,501 | -11.4% |
| Fixed assets | 21/28 | €485,510 | €432,574 | -€52,936 | -10.9% |
| Tangible fixed assets | 22/27 | €485,510 | €432,574 | -€52,936 | -10.9% |
| Land and buildings | 22 | €450,413 | €424,257 | -€26,156 | -5.8% |
| Plant, machinery and equipment | 23 | €35,097 | €8,317 | -€26,780 | -76.3% |
| Current assets | 29/58 | €191,836 | €167,271 | -€24,565 | -12.8% |
| Stocks and contracts in progress | 3 | €75,911 | €77,153 | +€1,242 | +1.6% |
| Stocks | 30/36 | €75,911 | €77,153 | +€1,242 | +1.6% |
| Amounts receivable within one year | 40/41 | €39,036 | €22,355 | -€16,681 | -42.7% |
| Trade receivables | 40 | €28,894 | €22,355 | -€6,539 | -22.6% |
| Other amounts receivable | 41 | €10,142 | - | -€10,142 | |
| Cash at bank and in hand | 54/58 | €76,888 | €65,787 | -€11,101 | -14.4% |
| Deferred charges and accrued income | 490/1 | - | €1,976 | +€1,976 | |
| Total equity and liabilities | 10/49 | €677,346 | €599,845 | -€77,501 | -11.4% |
| Equity | 10/15 | €509,313 | €445,065 | -€64,248 | -12.6% |
| Contributions | 10/11 | €56,000 | €56,000 | = | 0.0% |
| Reserves | 13 | €453,313 | €389,065 | -€64,248 | -14.2% |
| Tax-exempt reserves | 132 | €197,371 | €161,007 | -€36,363 | -18.4% |
| Distributable reserves | 133 | €255,942 | €228,057 | -€27,885 | -10.9% |
| Provisions and deferred taxes | 16 | €50,582 | €41,263 | -€9,319 | -18.4% |
| Deferred taxes | 168 | €50,582 | €41,263 | -€9,319 | -18.4% |
| Amounts payable | 17/49 | €117,450 | €113,517 | -€3,933 | -3.3% |
| Amounts payable after more than one year | 17 | €52,726 | €34,414 | -€18,312 | -34.7% |
| Financial debts | 170/4 | €52,726 | €34,414 | -€18,312 | -34.7% |
| Amounts payable within one year | 42/48 | €63,113 | €77,491 | +€14,378 | +22.8% |
| Current portion of amounts payable after more than one year | 42 | €17,995 | €18,312 | +€317 | +1.8% |
| Trade debts | 44 | €10,227 | €15,065 | +€4,839 | +47.3% |
| Suppliers | 440/4 | €10,227 | €15,065 | +€4,839 | +47.3% |
| Taxes, remuneration and social security | 45 | €34,892 | €32,707 | -€2,185 | -6.3% |
| Taxes | 450/3 | €23,330 | €19,074 | -€4,256 | -18.2% |
| Remuneration and social security | 454/9 | €11,562 | €13,633 | +€2,071 | +17.9% |
| Other amounts payable | 47/48 | - | €11,407 | +€11,407 | |
| Accrued charges and deferred income | 492/3 | €1,611 | €1,611 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €64,015 | €68,676 | +€4,661 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,306 | €52,936 | -€2,370 | -4.3% |
| Other operating charges | 640/8 | €8,029 | €7,933 | -€96 | -1.2% |
| Gross operating margin | 9900 | €105,648 | €89,622 | -€16,026 | -15.2% |
| Operating profit (loss) | 9901 | -€21,701 | -€39,922 | -€18,221 | -84.0% |
| Financial charges | 65/66B | €1,724 | €1,710 | -€14 | -0.8% |
| Recurring financial charges | 65 | €1,724 | €1,710 | -€14 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | -€23,425 | -€41,631 | -€18,207 | -77.7% |
| Transfer from deferred taxes | 780 | €9,731 | €9,319 | -€412 | -4.2% |
| Income taxes | 67/77 | €7,934 | €1,936 | -€5,998 | -75.6% |
| Profit (loss) for the period | 9904 | -€21,628 | -€34,248 | -€12,620 | -58.4% |
| Transfer from tax-exempt reserves | 789 | €37,970 | €36,363 | -€1,607 | -4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,342 | €2,115 | -€14,227 | -87.1% |
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 25 October 2026 via checked.be.