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INDUMA

Active
Private limited companyfounded 1995active for 31 yearsDehemlaan 5B, 8900 Ieper, BelgiumKBO/BCE: BE 0455.887.825

Financials · financial year 2025, abbreviated format

Annual accounts 2025 filed on 05-03-2026 PDF all 30 filings

Turnover
≈ €1.1m
Estimated: probably between €650,000 and €1.8m
Total assets
€3.0m▼ 4.9%
2024 · €3.1m
Net result
€125,784▼ 42.7%
2024 · €219,528
Working capital
€1.5m▼ 3.5%
2024 · €1.5m
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is 45% lower than in 2024 and the lowest since 2021. It is the second fall in a row.

Operating result€0.2m 2025 Net result€0.1m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Manufacture of machinery and equipment not elsewhere classified (NACE 28). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Operating result€0.3m-€0.3m▲ 0.8%€0.4m▲ 36.5%€0.5m▲ 24.5%€0.3m▼ 35.9%€0.3m▲ 12.0%€0.3m▼ 13.8%€0.2m▼ 44.5%
Net result€0.2m-€0.2m=€0.3mabove the sector's middle half▲ 41.0%€0.4mabove the sector's middle half▲ 39.9%€0.2mwithin the sector's middle half▼ 42.0%€0.2mwithin the sector's middle half▲ 13.9%€0.2mwithin the sector's middle half▼ 9.6%€0.1mwithin the sector's middle half▼ 42.7%
Equity€1.4m-€1.6m▲ 13.6%€1.8mabove the sector's middle half▲ 16.8%€2.2mabove the sector's middle half▲ 20.2%€2.4mabove the sector's middle half▲ 9.7%€2.6mabove the sector's middle half▲ 10.1%€2.7mabove the sector's middle half▲ 1.3%€2.6mabove the sector's middle half▼ 2.3%
Total assets€2.1m-€1.7m▼ 21.1%€1.9mwithin the sector's middle half▲ 15.1%€2.9mwithin the sector's middle half▲ 48.7%€3.0mwithin the sector's middle half▲ 3.1%€3.2mwithin the sector's middle half▲ 6.0%€3.1mwithin the sector's middle half▼ 0.9%€3.0mabove the sector's middle half▼ 4.9%
Debt€0.8m-€0.1m▼ 83.0%€0.1m▼ 5.8%€0.7m▲ 472%€0.6m▼ 17.5%€0.5m▼ 10.9%€0.5m▼ 12.1%€0.4m▼ 20.2%
Working capital€0.4m-€0.6m▲ 64.9%€1.1mabove the sector's middle half▲ 80.4%€1.1mabove the sector's middle half▼ 0.7%€1.3mabove the sector's middle half▲ 17.8%€1.6mabove the sector's middle half▲ 18.7%€1.5mabove the sector's middle half▼ 2.7%€1.5mabove the sector's middle half▼ 3.5%
Solvency64.1%-92.3%▲ 28.2pp93.7%above the sector's middle half▲ 1.4pp75.7%above the sector's middle half▼ 18.0pp80.6%above the sector's middle half▲ 4.9pp83.7%above the sector's middle half▲ 3.1pp85.5%above the sector's middle half▲ 1.8pp87.8%above the sector's middle half▲ 2.3pp
Current ratio1.49-5.82▲ 4.3210.20above the sector's middle half▲ 4.385.25above the sector's middle half▼ 4.957.46above the sector's middle half▲ 2.228.69above the sector's middle half▲ 1.228.54above the sector's middle half▼ 0.159.48above the sector's middle half▲ 0.94
Return on assets (ROA)8.7%-11.0%▲ 2.3pp13.5%above the sector's middle half▲ 2.5pp12.7%within the sector's middle half▼ 0.8pp7.1%within the sector's middle half▼ 5.6pp7.7%within the sector's middle half▲ 0.5pp7.0%within the sector's middle half▼ 0.7pp4.2%within the sector's middle half▼ 2.8pp
Staff (FTE)1-1.3▲ 30.0%2below the sector's middle half▲ 53.8%1.3below the sector's middle half▼ 35.0%2.1below the sector's middle half▲ 61.5%2within the sector's middle half▼ 4.8%3within the sector's middle half▲ 50.0%3.3within the sector's middle half▲ 10.0%
above within below The sector band is the middle half of the companies in Manufacture of machinery and equipment not elsewhere classified (NACE 28). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.0m
Fixed assets €1.3m ▼ 5.0%
Current assets €1.6m ▼ 4.7%
Equity and liabilities €3.0m
Equity €2.6m ▼ 2.3%
Debt €362,371 ▼ 20.2%
Debt's share of the balance-sheet total falls from 14.5% to 12.2%. Equity and debt are lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€237,380▼
2024 · €361,409
Cash flow
€200,143▼
2024 · €286,984
Quick ratio
7.56▲
2024 · 6.94
Debt to equity
0.14▼
2024 · 0.17
ROE
4.8%▼
2024 · 8.2%
Interest coverage
57.62▼
2024 · 82.76
Debt ≤ 1 year
€173,799▼
2024 · €202,452
Debt > 1 year
€187,500▼
2024 · €250,000
Income taxes
€62,190▼
2024 · €97,178
Staff costs
€205,839▲
2024 · €152,301
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Comparable companies

These companies have the same main activity as INDUMA: manufacture of machinery and equipment not elsewhere classified (NACE 28300). They are comparable in size and age: total assets between €1.4m and €3.1m, founded between 1982 and 2000.

CompanyFoundedTotal assetsEquityGross marginNet resultFTEFinancial year
INDUMA Ieper1995€3.0m€2.6m€0.5m€0.1m3.32025
LAUWERS Staden1991€3.0m€2.6m€0.6m€0.2m5.12025
LAGAET ALBERT EN ZOON Lochristi1986€2.0m€1.5m€0.4m€0.07m3.92025
VOLCKE RENTING Avelgem2000€3.1m€0.4m€0.9m-€0.05m3.22025
JOZEF POTTIE-BORRY Wevelgem1982€2.2m€0.9m€0.5m€0.2m1.72025
KUMETCO Merelbeke-Melle1997€1.4m€0.5m€0.5m€0.05m2.92025
MAES ET COMPAGNIE Havelange1989€3.0m€1.9m€0.9m€0.2m6.72025

They were chosen from the 139 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Companies with the same profile, two years later

Historical observation

In July 2024, 17,041 companies had the same profile as INDUMA has now. Two years later, 0.5% had gone bankrupt and 94.4% were still going.

  • Micro
  • 20 years or older
  • solvency 30% or more
  • a profit under 5% of the balance sheet
0.5% went bankrupt
4.9% stopped otherwise
94.4% was still going

Another 0.2% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of INDUMA itself: < 0.1% within 12 months.

Test of the method

The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 0.9%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 17,041 companies, not a prediction for INDUMA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Subsidies and aid

Flemish government

2024 to 2025 · 2 entries · €3,925 awarded · €3,925 paid
Year Entries AwardedPaid
2025 1 €260€260
2024 1 €3,665€3,665
Schemes
2 entries · €3,925 · €3,925 paid · Fonds voor Innoveren en Ondernemen
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 57 lines

Source: Annual accounts 2025 (PDF), filed on 05-03-2026.

Balance sheet Code20242025
Assets
Total assets20/58€3.1m€3.0m▼
Fixed assets21/28€1.4m€1.3m▼
Tangible fixed assets22/27€1.4m€1.3m▼
Land and buildings22€1.3m€1.2m▼
Plant, machinery and equipment23€0.004m€0.001m▼
Furniture and vehicles24€0.03m€0.01m▼
Other tangible fixed assets26€0.08m€0.08m▼
Current assets29/58€1.7m€1.6m▼
Amounts receivable after more than one year29€0.1m€0▼
Other amounts receivable291€0.1m€0▼
Stocks and contracts in progress3€0.3m€0.3m▲
Stocks30/36€0.3m€0.3m▲
Amounts receivable within one year40/41€0.1m€0.09m▼
Trade receivables40€0.09m€0.09m▼
Other amounts receivable41€0.01m€0.001m▼
Current investments50/53€1.0m€0.7m▼
Cash at bank and in hand54/58€0.2m€0.5m▲
Deferred charges and accrued income490/1€0.009m€0.01m▲
Equity and liabilities
Total equity and liabilities10/49€3.1m€3.0m▼
Equity10/15€2.7m€2.6m▼
Contributions10/11€0.04m€0.04m=
Reserves13€2.6m€2.5m▼
Distributable reserves133€2.6m€2.5m▼
Profit (loss) carried forward14€0.03m€0.03m=
Amounts payable17/49€0.5m€0.4m▼
Amounts payable after more than one year17€0.3m€0.2m▼
Financial debts170/4€0.3m€0.2m▼
Amounts payable within one year42/48€0.2m€0.2m▼
Current portion of amounts payable after more than one year42€0.06m€0.06m=
Trade debts44€0.05m€0.06m▲
Suppliers440/4€0.05m€0.06m▲
Taxes, remuneration and social security45€0.08m€0.05m▼
Taxes450/3€0.07m€0.02m▼
Remuneration and social security454/9€0.02m€0.03m▲
Other amounts payable47/48€0.007m€0.002m▼
Accrued charges and deferred income492/3€0.001m€0.001m▼
Income statement Code20242025
Remuneration, social security and pensions62€0.2m€0.2m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.07m€0.07m▲
Other operating charges640/8€0.02m€0.02m▲
Gross operating margin9900€0.5m€0.5m▼
Operating profit (loss)9901€0.3m€0.2m▼
Financial income75/76B€0.03m€0.03m▲
Recurring financial income75€0.03m€0.03m▲
Financial charges65/66B€0.004m€0.004m▼
Recurring financial charges65€0.004m€0.004m▼
Profit (loss) for the period before taxes9903€0.3m€0.2m▼
Income taxes67/77€0.1m€0.06m▼
Profit (loss) for the period9904€0.2m€0.1m▼
Profit (loss) for the period to be appropriated9905€0.2m€0.1m▼
Appropriation of the result
Profit (loss) to be appropriated9906€0.3m€0.2m▼
Profit (loss) brought forward from the previous period14P€0.03m€0.03m=
Transfer from equity791/2€0.2m€0.2m=
Transfer to equity691/2€0.2m€0.1m▼
To other reserves6921€0.2m€0.1m▼
Profit to be distributed694/7€0.2m€0.2m=
Return on contributions (dividend)694€0.2m€0.2m=
Social balance sheet
Average headcount (FTE)90873.03.3▲

The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Line20182019202020212022202320242025Change
Non-recurring operating income76A---€4,000€0----
Remuneration, social security and pensions62---€62,222€117,333€110,464€152,301€205,839▲ 35.2%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€123,471€60,298€52,223€47,047€67,067€66,499€67,456€74,359▲ 10.2%
Other operating charges640/8---€13,248€13,588€14,771€15,029€15,901▲ 5.8%
Gross operating margin9900€463,747€414,868€515,569€597,538€502,364€532,705€528,740€459,119▼ 13.2%
Operating profit (loss)9901€277,216€279,554€381,584€475,022€304,377€340,971€293,953€163,020▼ 44.5%
Financial income75/76B---€11,443€10,799€16,992€27,120€29,072▲ 7.2%
Recurring financial income75€3,812€4,253€6,199€11,443€10,799€16,992€27,120€29,072▲ 7.2%
Financial charges65/66B---€1,249€5,069€4,998€4,367€4,119▼ 5.7%
Recurring financial charges65€882€1,507€1,169€1,249€5,069€4,998€4,367€4,119▼ 5.7%
Profit (loss) for the period before taxes9903€280,146€282,300€386,614€485,216€310,106€352,965€316,705€187,973▼ 40.6%
Income taxes67/77€93,844€95,957€123,926€117,599€96,882€110,160€97,178€62,190▼ 36.0%
Profit (loss) for the period9904€186,391€186,343€262,688€367,617€213,224€242,805€219,528€125,784▼ 42.7%
Transfer from tax-exempt reserves789---€15,000€0----
Profit (loss) for the period to be appropriated9905€186,340€186,343€300,808€382,617€213,224€242,805€219,528€125,784▼ 42.7%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€2.1m€1.7m€1.9m€2.9m€3.0m€3.2m€3.1m€3.0m▼ 4.9%
Fixed assets21/28€1.0m€0.9m€0.7m€1.5m€1.5m€1.4m€1.4m€1.3m▼ 5.0%
Tangible fixed assets22/27€1.0m€0.9m€0.7m€1.5m€1.5m€1.4m€1.4m€1.3m▼ 5.0%
Land and buildings22---€1.4m€1.3m€1.3m€1.3m€1.2m▼ 4.0%
Plant, machinery and equipment23---€0.01m€0.008m€0.006m€0.004m€0.001m▼ 57.9%
Furniture and vehicles24---€0.06m€0.06m€0.04m€0.03m€0.01m▼ 55.3%
Other tangible fixed assets26---€0.09m€0.09m€0.08m€0.08m€0.08m▼ 2.6%
Current assets29/58€1.1m€0.8m€1.3m€1.4m€1.5m€1.8m€1.7m€1.6m▼ 4.7%
Amounts receivable after more than one year29---€0.3m€0.3m€0.3m€0.1m€0▼ 100%
Other amounts receivable291---€0.3m€0.3m€0.3m€0.1m€0▼ 100%
Stocks and contracts in progress3€0.3m€0.4m€0.4m€0.5m€0.6m€0.4m€0.3m€0.3m▲ 2.7%
Stocks30/36---€0.5m€0.6m€0.4m€0.3m€0.3m▲ 2.7%
Amounts receivable within one year40/41€0.08m€0.1m€0.08m€0.3m€0.1m€0.1m€0.1m€0.09m▼ 13.0%
Trade receivables40---€0.1m€0.1m€0.1m€0.09m€0.09m▼ 1.8%
Other amounts receivable41---€0.1m€0€0.006m€0.01m€0.001m▼ 94.2%
Current investments50/53----€0.2m€0.2m€1.0m€0.7m▼ 28.9%
Cash at bank and in hand54/58€0.8m€0.2m€0.5m€0.3m€0.3m€0.7m€0.2m€0.5m▲ 149%
Deferred charges and accrued income490/1---€0.01m€0.007m€0.006m€0.009m€0.01m▲ 53.3%
Equity and liabilities
Total equity and liabilities10/49€2.1m€1.7m€1.9m€2.9m€3.0m€3.2m€3.1m€3.0m▼ 4.9%
Equity10/15€1.4m€1.6m€1.8m€2.2m€2.4m€2.6m€2.7m€2.6m▼ 2.3%
Contributions10/11€0.04m€0.04m-€0.04m€0.04m€0.04m€0.04m€0.04m=
Reserves13€1.3m€1.5m€1.7m€2.1m€2.3m€2.6m€2.6m€2.5m▼ 2.3%
Non-distributable reserves130/1---€0.004m€0.004m€0---
Reserves not available under the articles1311---€0.004m€0.004m€0---
Distributable reserves133---€2.1m€2.3m€2.6m€2.6m€2.5m▼ 2.3%
Profit (loss) carried forward14€0.03m€0.03m€0.03m€0.03m€0.03m€0.03m€0.03m€0.03m=
Amounts payable17/49€0.8m€0.1m€0.1m€0.7m€0.6m€0.5m€0.5m€0.4m▼ 20.2%
Amounts payable after more than one year17---€0.4m€0.4m€0.3m€0.3m€0.2m▼ 25.0%
Financial debts170/4---€0.4m€0.4m€0.3m€0.3m€0.2m▼ 25.0%
Amounts payable within one year42/48€0.8m€0.1m€0.1m€0.3m€0.2m€0.2m€0.2m€0.2m▼ 14.2%
Current portion of amounts payable after more than one year42---€0.06m€0.06m€0.06m€0.06m€0.06m=
Trade debts44€0.08m€0.08m€0.07m€0.1m€0.05m€0.05m€0.05m€0.06m▲ 19.6%
Suppliers440/4---€0.1m€0.05m€0.05m€0.05m€0.06m▲ 19.6%
Taxes, remuneration and social security45---€0.07m€0.09m€0.09m€0.08m€0.05m▼ 41.9%
Taxes450/3---€0.07m€0.08m€0.07m€0.07m€0.02m▼ 71.6%
Remuneration and social security454/9---€0.001m€0.007m€0.01m€0.02m€0.03m▲ 77.4%
Other amounts payable47/48---€0.004m€0.001m€0.001m€0.007m€0.002m▼ 64.7%
Accrued charges and deferred income492/3---€0.001m€15€0€0.001m€0.001m▼ 27.2%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€186,391€186,343€262,688€367,617€213,224€242,805€219,528€125,784▼ 42.7%
+ Depreciation and write-downs630€123,471€60,298€52,223€47,047€67,067€66,499€67,456€74,359▲ 10.2%
Operating cash flow (approximation)€309,862€246,641€314,911€414,664€280,291€309,304€286,984€200,143▼ 30.3%
Investment in fixed assets (approximation)-€0€189,396-€861,401-€16,528€0-€81,983-€4,032▲ 95.1%
Change in cash--€529,269€307,180-€246,807€64,167€398,277-€534,552€318,741-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 30 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 abbreviated format 05-03-2026 2026-00050070 PDF
31-12-2024 abbreviated format 19-02-2025 2025-00036695 PDF
31-12-2023 abbreviated format 17-07-2024 2024-00256105 PDF
31-12-2022 abbreviated format 01-06-2023 2023-00102661 PDF
31-12-2021 abbreviated format 06-07-2022 2022-20150803 PDF
31-12-2020 abbreviated format 20-07-2021 2021-37900080 PDF
31-12-2019 abbreviated format 24-06-2020 2020-22600084 PDF
31-12-2018 abbreviated format 17-07-2019 2019-33800086 PDF
31-12-2017 abbreviated format 20-08-2018 2018-47300294 PDF
31-12-2016 micro format 06-07-2017 2017-28400373 PDF

Show all 30 filings

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