INDAKA: 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.
INDAKA
Largest movements
- Cash -€156,777
down €156,777 (-99.9%), from €156,915 to €137
mainly Current investments (-€81,995) and Net result for the year (-€35,750)
- Current investments +€81,995
new in 2025: €81,995
- Receivables within one year -€35,173
down €35,173 (-30.3%), from €116,138 to €80,965
of which Trade receivables: -€34,921
- Profit (loss) carried forward -€35,750
down €35,750 (-18.7%), from €190,913 to €155,163
- Trade debts -€32,819
down €32,819 (-75.9%), from €43,239 to €10,420
- Gross operating margin -€39,895
down €39,895 (-59.3%), from €67,262 to €27,367
- Depreciation +€4,585
up €4,585 (+81.1%), from €5,653 to €10,238
- Other operating charges +€3,635
up €3,635 (+24.9%), from €14,585 to €18,220
- Taxes -€3,410
no longer reported in 2025 (was €3,410)
- Staff costs +€3,343
up €3,343 (+11.1%), from €30,156 to €33,499
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.
Cash bridge derived
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 | €2,201,875 | €2,108,332 | -€93,543 | -4.2% |
| Fixed assets | 21/28 | €1,928,822 | €1,945,234 | +€16,412 | +0.9% |
| Tangible fixed assets | 22/27 | €1,927,645 | €1,944,057 | +€16,412 | +0.9% |
| Land and buildings | 22 | €1,915,221 | €1,915,221 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,000 | €1,500 | -€500 | -25.0% |
| Furniture and vehicles | 24 | €10,424 | €27,336 | +€16,912 | +162.2% |
| Financial fixed assets | 28 | €1,178 | €1,178 | = | 0.0% |
| Current assets | 29/58 | €273,053 | €163,098 | -€109,955 | -40.3% |
| Amounts receivable within one year | 40/41 | €116,138 | €80,965 | -€35,173 | -30.3% |
| Trade receivables | 40 | €115,886 | €80,965 | -€34,921 | -30.1% |
| Other amounts receivable | 41 | €252 | - | -€252 | |
| Current investments | 50/53 | - | €81,995 | +€81,995 | |
| Cash at bank and in hand | 54/58 | €156,915 | €137 | -€156,777 | -99.9% |
| Total equity and liabilities | 10/49 | €2,201,875 | €2,108,332 | -€93,543 | -4.2% |
| Equity | 10/15 | €2,126,649 | €2,090,899 | -€35,750 | -1.7% |
| Contributions | 10/11 | €62,227 | €62,227 | = | 0.0% |
| Capital | 10 | €62,227 | €62,227 | = | 0.0% |
| Issued capital | 100 | €62,227 | €62,227 | = | 0.0% |
| Revaluation surpluses | 12 | €1,627,286 | €1,627,286 | = | 0.0% |
| Reserves | 13 | €246,223 | €246,223 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,223 | €6,223 | = | 0.0% |
| Legal reserve | 130 | €6,223 | €6,223 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €230,000 | €230,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €190,913 | €155,163 | -€35,750 | -18.7% |
| Amounts payable | 17/49 | €75,227 | €17,434 | -€57,793 | -76.8% |
| Amounts payable within one year | 42/48 | €75,227 | €17,434 | -€57,793 | -76.8% |
| Trade debts | 44 | €43,239 | €10,420 | -€32,819 | -75.9% |
| Suppliers | 440/4 | €43,239 | €10,420 | -€32,819 | -75.9% |
| Taxes, remuneration and social security | 45 | €11,203 | - | -€11,203 | |
| Taxes | 450/3 | €7,916 | - | -€7,916 | |
| Remuneration and social security | 454/9 | €3,287 | - | -€3,287 | |
| Other amounts payable | 47/48 | €20,784 | €7,013 | -€13,771 | -66.3% |
| Remuneration, social security and pensions | 62 | €30,156 | €33,499 | +€3,343 | +11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,653 | €10,238 | +€4,585 | +81.1% |
| Other operating charges | 640/8 | €14,585 | €18,220 | +€3,635 | +24.9% |
| Gross operating margin | 9900 | €67,262 | €27,367 | -€39,895 | -59.3% |
| Operating profit (loss) | 9901 | €16,868 | -€34,590 | -€51,458 | |
| Financial income | 75/76B | €4,412 | €1,234 | -€3,179 | -72.0% |
| Recurring financial income | 75 | €36 | €1,234 | +€1,198 | +3345.3% |
| Non-recurring financial income | 76B | €4,377 | - | -€4,377 | |
| Financial charges | 65/66B | €3,505 | €2,393 | -€1,112 | -31.7% |
| Recurring financial charges | 65 | €3,505 | €2,393 | -€1,112 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €17,775 | -€35,750 | -€53,525 | |
| Income taxes | 67/77 | €3,410 | - | -€3,410 | |
| Profit (loss) for the period | 9904 | €14,365 | -€35,750 | -€50,115 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,365 | -€35,750 | -€50,115 |
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 9 October 2026 via checked.be.