INOCO: 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.
INOCO
Largest movements
- Cash +€159,267
up €159,267 (+193%), from €82,454 to €241,721
mainly Depreciation (+€72,710) and Net result for the year (+€68,240)
- Tangible fixed assets -€72,710
down €72,710 (-8.1%), from €893,354 to €820,645
- Reserves +€65,000
up €65,000 (+8.9%), from €731,799 to €796,799
of which Distributable reserves: +€65,000
- Gross operating margin +€13,022
up €13,022 (+5.8%), from €225,159 to €238,181
- Financial income -€8,221
down €8,221 (-52.9%), from €15,527 to €7,305
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 | €1,639,387 | €1,710,606 | +€71,219 | +4.3% |
| Fixed assets | 21/28 | €893,354 | €820,645 | -€72,710 | -8.1% |
| Tangible fixed assets | 22/27 | €893,354 | €820,645 | -€72,710 | -8.1% |
| Land and buildings | 22 | €893,354 | €820,645 | -€72,710 | -8.1% |
| Current assets | 29/58 | €746,032 | €889,961 | +€143,928 | +19.3% |
| Amounts receivable within one year | 40/41 | €197,097 | €181,758 | -€15,338 | -7.8% |
| Trade receivables | 40 | €8,603 | €3,000 | -€5,603 | -65.1% |
| Other amounts receivable | 41 | €188,494 | €178,758 | -€9,736 | -5.2% |
| Current investments | 50/53 | €466,482 | €466,482 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €82,454 | €241,721 | +€159,267 | +193% |
| Total equity and liabilities | 10/49 | €1,639,387 | €1,710,606 | +€71,219 | +4.3% |
| Equity | 10/15 | €906,934 | €975,173 | +€68,240 | +7.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | €59 | €59 | = | 0.0% |
| Reserves | 13 | €731,799 | €796,799 | +€65,000 | +8.9% |
| Non-distributable reserves | 130/1 | €6,240 | €6,240 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Other | 1319 | €90 | €90 | = | 0.0% |
| Distributable reserves | 133 | €725,559 | €790,559 | +€65,000 | +9.0% |
| Profit (loss) carried forward | 14 | €113,576 | €116,815 | +€3,240 | +2.9% |
| Amounts payable | 17/49 | €732,453 | €735,432 | +€2,979 | +0.4% |
| Amounts payable after more than one year | 17 | €627,359 | €627,359 | = | 0.0% |
| Financial debts | 170/4 | €627,359 | €627,359 | = | 0.0% |
| Amounts payable within one year | 42/48 | €105,094 | €108,073 | +€2,979 | +2.8% |
| Trade debts | 44 | - | €366 | +€366 | |
| Suppliers | 440/4 | - | €366 | +€366 | |
| Taxes, remuneration and social security | 45 | €17,121 | €17,505 | +€383 | +2.2% |
| Taxes | 450/3 | €17,121 | €17,505 | +€383 | +2.2% |
| Other amounts payable | 47/48 | €87,973 | €90,203 | +€2,230 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,809 | €72,710 | -€99 | -0.1% |
| Other operating charges | 640/8 | €31,057 | €32,478 | +€1,421 | +4.6% |
| Gross operating margin | 9900 | €225,159 | €238,181 | +€13,022 | +5.8% |
| Operating profit (loss) | 9901 | €121,293 | €132,993 | +€11,700 | +9.6% |
| Financial income | 75/76B | €15,527 | €7,305 | -€8,221 | -52.9% |
| Recurring financial income | 75 | €15,527 | €7,305 | -€8,221 | -52.9% |
| Financial charges | 65/66B | €38,653 | €38,655 | +€2 | 0.0% |
| Recurring financial charges | 65 | €38,653 | €38,655 | +€2 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €98,167 | €101,643 | +€3,477 | +3.5% |
| Income taxes | 67/77 | €32,187 | €33,404 | +€1,217 | +3.8% |
| Profit (loss) for the period | 9904 | €65,980 | €68,240 | +€2,260 | +3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €65,980 | €68,240 | +€2,260 | +3.4% |
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 13 October 2026 via checked.be.