Group induver: what changed
What changed
Group induver
NACE 66.290, Activities auxiliary to financial services and insurance activities
filed annual accounts (NBB)
Net result for the year
-€4.2m
2024 · €898,811-€5.1m
Equity
€37.4m
2024 · €6.6m+€30.8m
Cash
€11.0m
2024 · €6.2m+€4.9m
Balance sheet total
€214.4m
2024 · €94.0m+€120.4m
Largest movements
Assets
- Intangible fixed assets +€77.5m
up €77.5m (+1,270%), from €6.1m to €83.6m
- Financial fixed assets +€42.8m
up €42.8m (+74.9%), from €57.1m to €99.9m
of which Affiliated companies: +€42.8m
- Cash +€4.9m
up €4.9m (+79.0%), from €6.2m to €11.0m
mainly Debts after one year (+€82.0m) and Contributions, distributions and other (+€35.0m)
- Receivables after one year -€3.7m
down €3.7m (-100%), from €3.7m to €0
- Receivables within one year -€2.8m
down €2.8m (-15.4%), from €17.9m to €15.2m
of which Other amounts receivable: -€4.5m
Equity and liabilities
- Debts after one year +€82.0m
up €82.0m (+145%), from €56.7m to €138.7m
of which Other amounts payable: +€57.5m
- Contributions +€35.0m
up €35.0m (+6,863%), from €510,000 to €35.5m
- Trade debts +€9.5m
up €9.5m (+53.2%), from €18.0m to €27.5m
- Other debts -€5.7m
down €5.7m (-93.8%), from €6.1m to €375,667
- Reserves -€4.2m
down €4.2m (-68.4%), from €6.1m to €1.9m
of which Distributable reserves: -€4.0m
Income statement
- Turnover +€21.1m
up €21.1m (+92.7%), from €22.7m to €43.8m
- Services and other goods +€10.7m
up €10.7m (+143%), from €7.5m to €18.3m
- Staff costs +€6.8m
up €6.8m (+85.0%), from €8.0m to €14.8m
- Financial charges +€6.5m
up €6.5m (+132%), from €4.9m to €11.4m
of which Financial charges: +€6.4m
- Depreciation +€4.5m
up €4.5m (+312%), from €1.4m to €5.9m
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
€898,811
Turnover
+€21.1m
Other operating income
+€818,772
Goods and materials
+€390,911
Services and other goods
-€10.7m
Staff costs
-€6.8m
Depreciation
-€4.5m
Write-downs
+€154,841
Other operating charges
-€64,442
Other operating items
+€8,905
Financial income
+€595,172
Financial charges
-€6.5m
Taxes
+€430,194
Result 2025
-€4.2m
raises the resultlowers the resultnot broken down further in the accounts
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
+€14.6m
Investment
-€126.7m
Financing
+€117.0m
Cash 2024
€6.2m
From operations (derived)
+€14.6m
Net result for the year
-€4.2m
Depreciation
+€5.9m
Receivables after one year
+€3.7m
Receivables within one year
+€2.8m
Deferred charges and accrued income
-€1.1m
Smaller working-capital items
+€291,894
Trade debts
+€9.5m
Tax, wage and social debts
+€1.3m
Advances received
+€2.2m
Other debts
-€5.7m
Investment (derived)
-€126.7m
Investment in fixed assets (net)
-€127.4m
Current investments
+€678,713
Financing
+€117.0m
Debts after one year
+€82.0m
Contributions, distributions and other
+€35.0m
Cash 2025
€11.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €94,014,873 | €214,437,490 | +€120.4m | +128% |
| Formation expenses | 20 | - | €5,407 | +€5,407 | |
| Fixed assets | 21/28 | €65,405,124 | €186,927,388 | +€121.5m | +186% |
| Intangible fixed assets | 21 | €6,105,110 | €83,649,873 | +€77.5m | +1,270% |
| Tangible fixed assets | 22/27 | €2,157,615 | €3,345,861 | +€1.2m | +55.1% |
| Plant, machinery and equipment | 23 | €233,312 | €721,281 | +€487,970 | +209% |
| Furniture and vehicles | 24 | €1,924,303 | €1,662,169 | -€262,134 | -13.6% |
| Other tangible fixed assets | 26 | - | €962,411 | +€962,411 | |
| Financial fixed assets | 28 | €57,142,400 | €99,931,654 | +€42.8m | +74.9% |
| Affiliated companies | 280/1 | €57,142,400 | €99,931,614 | +€42.8m | +74.9% |
| Participating interests | 280 | €57,142,400 | €99,931,614 | +€42.8m | +74.9% |
| Other financial fixed assets | 284/8 | - | €40 | +€40 | |
| Amounts receivable and cash guarantees | 285/8 | - | €40 | +€40 | |
| Current assets | 29/58 | €28,609,748 | €27,504,695 | -€1.1m | -3.9% |
| Amounts receivable after more than one year | 29 | €3,652,359 | €0 | -€3.7m | -100% |
| Other amounts receivable | 291 | €3,652,359 | €0 | -€3.7m | -100% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €17,943,309 | €15,181,553 | -€2.8m | -15.4% |
| Trade receivables | 40 | €11,881,898 | €13,646,411 | +€1.8m | +14.9% |
| Other amounts receivable | 41 | €6,061,411 | €1,535,142 | -€4.5m | -74.7% |
| Current investments | 50/53 | €678,713 | €0 | -€678,713 | -100% |
| Other investments | 51/53 | €678,713 | €0 | -€678,713 | -100% |
| Cash at bank and in hand | 54/58 | €6,169,608 | €11,042,732 | +€4.9m | +79.0% |
| Deferred charges and accrued income | 490/1 | €165,758 | €1,280,410 | +€1.1m | +672% |
| Total equity and liabilities | 10/49 | €94,014,873 | €214,437,490 | +€120.4m | +128% |
| Equity | 10/15 | €6,629,955 | €37,442,783 | +€30.8m | +465% |
| Contributions | 10/11 | €510,000 | €35,510,000 | +€35.0m | +6,863% |
| Capital | 10 | €510,000 | €35,510,000 | +€35.0m | +6,863% |
| Issued capital | 100 | €510,000 | €35,510,000 | +€35.0m | +6,863% |
| Reserves | 13 | €6,119,955 | €1,932,783 | -€4.2m | -68.4% |
| Non-distributable reserves | 130/1 | €301,000 | €51,000 | -€250,000 | -83.1% |
| Legal reserve | 130 | €51,000 | €51,000 | = | 0.0% |
| Other | 1319 | €250,000 | €0 | -€250,000 | -100% |
| Tax-exempt reserves | 132 | €19,488 | €46,489 | +€27,000 | +139% |
| Distributable reserves | 133 | €5,799,466 | €1,835,295 | -€4.0m | -68.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | - | €9,000 | +€9,000 | |
| Deferred taxes | 168 | - | €9,000 | +€9,000 | |
| Amounts payable | 17/49 | €87,384,918 | €176,985,707 | +€89.6m | +103% |
| Amounts payable after more than one year | 17 | €56,675,000 | €138,654,976 | +€82.0m | +145% |
| Financial debts | 170/4 | €56,400,000 | €80,896,000 | +€24.5m | +43.4% |
| Credit institutions | 173 | €0 | - | = | |
| Other loans | 174 | €56,400,000 | €80,896,000 | +€24.5m | +43.4% |
| Other amounts payable | 178/9 | €275,000 | €57,758,976 | +€57.5m | +20,903% |
| Amounts payable within one year | 42/48 | €29,206,113 | €36,544,031 | +€7.3m | +25.1% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €17,956,025 | €27,505,908 | +€9.5m | +53.2% |
| Suppliers | 440/4 | €17,956,025 | €27,505,908 | +€9.5m | +53.2% |
| Advances received on contracts in progress | 46 | €4,576,553 | €6,778,422 | +€2.2m | +48.1% |
| Taxes, remuneration and social security | 45 | €544,397 | €1,834,035 | +€1.3m | +237% |
| Taxes | 450/3 | €0 | €319,239 | +€319,239 | |
| Remuneration and social security | 454/9 | €544,397 | €1,514,796 | +€970,398 | +178% |
| Other amounts payable | 47/48 | €6,079,137 | €375,667 | -€5.7m | -93.8% |
| Accrued charges and deferred income | 492/3 | €1,503,805 | €1,786,700 | +€282,894 | +18.8% |
| Operating income | 70/76A | €25,972,764 | €47,889,066 | +€21.9m | +84.4% |
| Turnover | 70 | €22,747,388 | €43,830,823 | +€21.1m | +92.7% |
| Other operating income | 74 | €3,161,249 | €3,980,021 | +€818,772 | +25.9% |
| Non-recurring operating income | 76A | €64,128 | €78,221 | +€14,094 | +22.0% |
| Operating charges | 60/66A | €19,830,108 | €41,365,943 | +€21.5m | +109% |
| Goods for resale, raw materials and consumables | 60 | €2,545,451 | €2,154,540 | -€390,911 | -15.4% |
| Purchases | 600/8 | €2,545,451 | €2,154,540 | -€390,911 | -15.4% |
| Services and other goods | 61 | €7,536,325 | €18,277,862 | +€10.7m | +143% |
| Remuneration, social security and pensions | 62 | €8,007,324 | €14,814,167 | +€6.8m | +85.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,432,445 | €5,896,020 | +€4.5m | +312% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €120,133 | -€34,708 | -€154,841 | |
| Other operating charges | 640/8 | €188,431 | €252,873 | +€64,442 | +34.2% |
| Non-recurring operating charges | 66A | - | €5,189 | +€5,189 | |
| Operating profit (loss) | 9901 | €6,142,656 | €6,523,123 | +€380,466 | +6.2% |
| Financial income | 75/76B | €261,817 | €856,989 | +€595,172 | +227% |
| Recurring financial income | 75 | €261,817 | €856,989 | +€595,172 | +227% |
| Income from financial fixed assets | 750 | €0 | €46,920 | +€46,920 | |
| Income from current assets | 751 | €257,705 | €753,715 | +€496,010 | +192% |
| Other financial income | 752/9 | €4,112 | €56,354 | +€52,242 | +1,270% |
| Financial charges | 65/66B | €4,919,708 | €11,411,522 | +€6.5m | +132% |
| Recurring financial charges | 65 | €4,919,708 | €11,326,973 | +€6.4m | +130% |
| Debt charges | 650 | €4,760,436 | €11,307,439 | +€6.5m | +138% |
| Other financial charges | 652/9 | €159,271 | €19,534 | -€139,738 | -87.7% |
| Non-recurring financial charges | 66B | - | €84,549 | +€84,549 | |
| Profit (loss) for the period before taxes | 9903 | €1,484,766 | -€4,031,410 | -€5.5m | |
| Income taxes | 67/77 | €585,955 | €155,761 | -€430,194 | -73.4% |
| Taxes | 670/3 | €585,955 | €179,355 | -€406,601 | -69.4% |
| Tax adjustments and reversals of tax provisions | 77 | - | €23,593 | +€23,593 | |
| Profit (loss) for the period | 9904 | €898,811 | -€4,187,171 | -€5.1m | |
| Transfer to tax-exempt reserves | 689 | €19,488 | €27,000 | +€7,512 | +38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €879,322 | -€4,214,172 | -€5.1m |
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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.