INELKO: what changed
What changed
INELKO
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€54,619
2024 · €50,265+€4,354
Equity
€719,349
2024 · €664,730+€54,619
Cash
€19,444
2024 · €2,952+€16,492
Balance sheet total
€1.1m
2024 · €1.1m+€13,722
Largest movements
Assets
- Cash +€16,492
up €16,492 (+559%), from €2,952 to €19,444
mainly Net result for the year (+€54,619) and Depreciation (+€14,215)
- Tangible fixed assets -€12,333
down €12,333 (-22.7%), from €54,344 to €42,011
of which Furniture and vehicles: -€11,695
Equity and liabilities
- Reserves +€54,619
up €54,619 (+8.3%), from €658,530 to €713,149
- Current portion of long-term debt -€35,017
down €35,017 (-85.3%), from €41,028 to €6,011
Income statement
- Financial charges -€5,074
down €5,074 (-16.1%), from €31,443 to €26,369
- Taxes +€2,604
up €2,604 (+13.5%), from €19,343 to €21,947
- Gross operating margin +€2,126
up €2,126 (+1.8%), from €116,581 to €118,707
Change in the result, 2024 to 2025
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 2024
€50,265
Gross operating margin
+€2,126
Depreciation
-€5
Other operating charges
-€238
Financial income
+€0
Financial charges
+€5,074
Taxes
-€2,604
Result 2025
€54,619
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€59,402
Investment
-€1,882
Financing
-€41,028
Cash 2024
€2,952
From operations (derived)
+€59,402
Net result for the year
+€54,619
Depreciation
+€14,215
Receivables within one year
-€9,463
Smaller working-capital items
-€106
Trade debts
+€2,039
Tax, wage and social debts
+€639
Other debts
-€2,541
Investment (derived)
-€1,882
Investment in fixed assets (net)
-€1,882
Financing
-€41,028
Debts after one year
-€6,011
Current portion of long-term debt
-€35,017
Cash 2025
€19,444
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,103,537 | €1,117,259 | +€13,722 | +1.2% |
| Fixed assets | 21/28 | €984,611 | €972,278 | -€12,333 | -1.3% |
| Tangible fixed assets | 22/27 | €54,344 | €42,011 | -€12,333 | -22.7% |
| Plant, machinery and equipment | 23 | €2,044 | €1,406 | -€638 | -31.2% |
| Furniture and vehicles | 24 | €52,301 | €40,605 | -€11,695 | -22.4% |
| Financial fixed assets | 28 | €930,266 | €930,266 | = | 0.0% |
| Current assets | 29/58 | €118,926 | €144,981 | +€26,055 | +21.9% |
| Amounts receivable within one year | 40/41 | €114,138 | €123,600 | +€9,463 | +8.3% |
| Trade receivables | 40 | €5,000 | €0 | -€5,000 | -100% |
| Other amounts receivable | 41 | €109,138 | €123,600 | +€14,463 | +13.3% |
| Cash at bank and in hand | 54/58 | €2,952 | €19,444 | +€16,492 | +559% |
| Deferred charges and accrued income | 490/1 | €1,837 | €1,937 | +€100 | +5.4% |
| Total equity and liabilities | 10/49 | €1,103,537 | €1,117,259 | +€13,722 | +1.2% |
| Equity | 10/15 | €664,730 | €719,349 | +€54,619 | +8.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €658,530 | €713,149 | +€54,619 | +8.3% |
| Distributable reserves | 133 | €658,530 | €713,149 | +€54,619 | +8.3% |
| Amounts payable | 17/49 | €438,807 | €397,910 | -€40,897 | -9.3% |
| Amounts payable after more than one year | 17 | €18,292 | €12,282 | -€6,011 | -32.9% |
| Financial debts | 170/4 | €18,292 | €12,282 | -€6,011 | -32.9% |
| Amounts payable within one year | 42/48 | €419,827 | €384,947 | -€34,880 | -8.3% |
| Current portion of amounts payable after more than one year | 42 | €41,028 | €6,011 | -€35,017 | -85.3% |
| Trade debts | 44 | €1,024 | €3,063 | +€2,039 | +199% |
| Suppliers | 440/4 | €1,024 | €3,063 | +€2,039 | +199% |
| Taxes, remuneration and social security | 45 | €10,698 | €11,337 | +€639 | +6.0% |
| Taxes | 450/3 | €10,698 | €11,337 | +€639 | +6.0% |
| Other amounts payable | 47/48 | €367,077 | €364,536 | -€2,541 | -0.7% |
| Accrued charges and deferred income | 492/3 | €688 | €682 | -€6 | -0.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,210 | €14,215 | +€5 | 0.0% |
| Other operating charges | 640/8 | €1,320 | €1,557 | +€238 | +18.0% |
| Gross operating margin | 9900 | €116,581 | €118,707 | +€2,126 | +1.8% |
| Operating profit (loss) | 9901 | €101,051 | €102,934 | +€1,883 | +1.9% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €31,443 | €26,369 | -€5,074 | -16.1% |
| Recurring financial charges | 65 | €31,443 | €26,369 | -€5,074 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €69,608 | €76,566 | +€6,958 | +10.0% |
| Income taxes | 67/77 | €19,343 | €21,947 | +€2,604 | +13.5% |
| Profit (loss) for the period | 9904 | €50,265 | €54,619 | +€4,354 | +8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €50,265 | €54,619 | +€4,354 | +8.7% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.