CINDEPENDENT: 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.
CINDEPENDENT
Largest movements
- Cash -€9,473
down €9,473 (-10.5%), from €90,601 to €81,128
mainly Net result for the year (-€6,854) and Stocks and contracts (-€3,500)
- Receivables within one year -€5,941
down €5,941 (-72.2%), from €8,225 to €2,284
of which Trade receivables: -€7,278
- Stocks and contracts +€3,500
new in 2025: €3,500
- Tangible fixed assets -€2,909
down €2,909 (-25.5%), from €11,395 to €8,486
of which Furniture and vehicles: -€4,144
- Intangible fixed assets -€1,638
down €1,638 (-54.5%), from €3,002 to €1,365
- Profit (loss) carried forward -€6,854
down €6,854 (-130%), from -€5,273 to -€12,127
- Other debts -€3,323
no longer reported in 2025 (was €3,323)
- Current portion of long-term debt -€2,908
down €2,908 (-58.0%), from €5,011 to €2,103
- Debts after one year -€2,103
no longer reported in 2025 (was €2,103)
- Gross operating margin -€24,628
down €24,628, from €24,181 to -€447
- Financial income -€8,181
down €8,181 (-99.1%), from €8,259 to €78
- Taxes -€417
down €417 (-87.2%), from €478 to €61
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 | €113,224 | €96,763 | -€16,461 | -14.5% |
| Fixed assets | 21/28 | €14,398 | €9,851 | -€4,547 | -31.6% |
| Intangible fixed assets | 21 | €3,002 | €1,365 | -€1,638 | -54.5% |
| Tangible fixed assets | 22/27 | €11,395 | €8,486 | -€2,909 | -25.5% |
| Plant, machinery and equipment | 23 | - | €1,235 | +€1,235 | |
| Furniture and vehicles | 24 | €11,395 | €7,252 | -€4,144 | -36.4% |
| Current assets | 29/58 | €98,826 | €86,912 | -€11,914 | -12.1% |
| Stocks and contracts in progress | 3 | - | €3,500 | +€3,500 | |
| Stocks | 30/36 | - | €3,500 | +€3,500 | |
| Amounts receivable within one year | 40/41 | €8,225 | €2,284 | -€5,941 | -72.2% |
| Trade receivables | 40 | €7,967 | €689 | -€7,278 | -91.4% |
| Other amounts receivable | 41 | €258 | €1,595 | +€1,337 | +517% |
| Cash at bank and in hand | 54/58 | €90,601 | €81,128 | -€9,473 | -10.5% |
| Total equity and liabilities | 10/49 | €113,224 | €96,763 | -€16,461 | -14.5% |
| Equity | 10/15 | €97,813 | €90,959 | -€6,854 | -7.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €96,886 | €96,886 | = | 0.0% |
| Distributable reserves | 133 | €96,886 | €96,886 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,273 | -€12,127 | -€6,854 | -130% |
| Amounts payable | 17/49 | €15,411 | €5,804 | -€9,607 | -62.3% |
| Amounts payable after more than one year | 17 | €2,103 | - | -€2,103 | |
| Financial debts | 170/4 | €2,103 | - | -€2,103 | |
| Amounts payable within one year | 42/48 | €13,309 | €5,804 | -€7,504 | -56.4% |
| Current portion of amounts payable after more than one year | 42 | €5,011 | €2,103 | -€2,908 | -58.0% |
| Trade debts | 44 | €4,490 | €3,641 | -€849 | -18.9% |
| Suppliers | 440/4 | €4,490 | €3,641 | -€849 | -18.9% |
| Taxes, remuneration and social security | 45 | €485 | €61 | -€424 | -87.4% |
| Taxes | 450/3 | €485 | €61 | -€424 | -87.4% |
| Other amounts payable | 47/48 | €3,323 | - | -€3,323 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,901 | €5,894 | -€8 | -0.1% |
| Other operating charges | 640/8 | €318 | €319 | +€0 | +0.2% |
| Gross operating margin | 9900 | €24,181 | -€447 | -€24,628 | |
| Operating profit (loss) | 9901 | €17,961 | -€6,660 | -€24,621 | |
| Financial income | 75/76B | €8,259 | €78 | -€8,181 | -99.1% |
| Recurring financial income | 75 | €8,259 | €78 | -€8,181 | -99.1% |
| Financial charges | 65/66B | €331 | €211 | -€121 | -36.4% |
| Recurring financial charges | 65 | €331 | €211 | -€121 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | €25,888 | -€6,793 | -€32,681 | |
| Income taxes | 67/77 | €478 | €61 | -€417 | -87.2% |
| Profit (loss) for the period | 9904 | €25,410 | -€6,854 | -€32,264 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,410 | -€6,854 | -€32,264 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.