INDALU: 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.
What changed
INDALU
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€3,680
2023 · €12,183-€8,503
Equity
€1.2m
2023 · €1.2m+€3,680
Cash
-
2023 · €4,810-€4,810
Balance sheet total
€1.6m
2023 · €1.7m-€120,430
Largest movements
Assets
- Stocks and contracts -€120,178
down €120,178 (-30.0%), from €400,000 to €279,822
Equity and liabilities
- Short-term financial debts -€104,905
down €104,905 (-74.5%), from €140,899 to €35,994
- Debts after one year -€35,844
down €35,844 (-22.0%), from €162,659 to €126,815
Income statement
- Write-downs +€30,178
up €30,178 (+33.5%), from €90,000 to €120,178
- Turnover +€12,326
up €12,326 (+6.5%), from €190,440 to €202,766
- Gross operating margin +€10,435
up €10,435 (+7.5%), from €139,589 to €150,024
- Taxes -€6,751
down €6,751, from €5,020 to -€1,731
- Financial charges -€4,015
down €4,015 (-33.6%), from €11,961 to €7,946
From the 2023 result to the 2024 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.
Result 2023
€12,183
Gross operating margin
+€10,435
Write-downs
-€30,178
Other operating charges
+€474
Financial charges
+€4,015
Taxes
+€6,751
Result 2024
€3,680
raises the resultlowers the result
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€138,846
Investment
-€2,907
Financing
-€140,749
Cash 2023
€4,810
From operations (derived)
+€138,846
Net result for the year
+€3,680
Stocks and contracts
+€120,178
Receivables within one year
-€1,651
Trade debts
+€15,371
Tax, wage and social debts
-€5,380
Other debts
+€6,904
Accrued charges and deferred income
-€256
Investment (derived)
-€2,907
Current investments
-€2,907
Financing
-€140,749
Debts after one year
-€35,844
Short-term financial debts
-€104,905
Cash 2024
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,730,960 | €1,610,530 | -€120,430 | -7.0% |
| Fixed assets | 21/28 | €1,325,257 | €1,325,257 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,325,009 | €1,325,009 | = | 0.0% |
| Land and buildings | 22 | €1,325,009 | €1,325,009 | = | 0.0% |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €405,703 | €285,273 | -€120,430 | -29.7% |
| Stocks and contracts in progress | 3 | €400,000 | €279,822 | -€120,178 | -30.0% |
| Stocks | 30/36 | €400,000 | €279,822 | -€120,178 | -30.0% |
| Amounts receivable within one year | 40/41 | €893 | €2,544 | +€1,651 | +185% |
| Trade receivables | 40 | €338 | €1,989 | +€1,651 | +488% |
| Other amounts receivable | 41 | €555 | €555 | = | 0.0% |
| Current investments | 50/53 | - | €2,907 | +€2,907 | |
| Cash at bank and in hand | 54/58 | €4,810 | - | -€4,810 | |
| Total equity and liabilities | 10/49 | €1,730,960 | €1,610,530 | -€120,430 | -7.0% |
| Equity | 10/15 | €1,226,051 | €1,229,731 | +€3,680 | +0.3% |
| Contributions | 10/11 | €436,293 | €436,293 | = | 0.0% |
| Capital | 10 | €436,293 | €436,293 | = | 0.0% |
| Issued capital | 100 | €436,293 | €436,293 | = | 0.0% |
| Revaluation surpluses | 12 | €724,391 | €724,391 | = | 0.0% |
| Reserves | 13 | €62,841 | €62,841 | = | 0.0% |
| Non-distributable reserves | 130/1 | €43,629 | €43,629 | = | 0.0% |
| Legal reserve | 130 | €43,629 | €43,629 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,848 | €3,848 | = | 0.0% |
| Distributable reserves | 133 | €15,364 | €15,364 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,526 | €6,206 | +€3,680 | +146% |
| Amounts payable | 17/49 | €504,909 | €380,799 | -€124,110 | -24.6% |
| Amounts payable after more than one year | 17 | €162,659 | €126,815 | -€35,844 | -22.0% |
| Financial debts | 170/4 | €162,659 | €126,815 | -€35,844 | -22.0% |
| Amounts payable within one year | 42/48 | €341,706 | €253,696 | -€88,010 | -25.8% |
| Financial debts | 43 | €140,899 | €35,994 | -€104,905 | -74.5% |
| Credit institutions | 430/8 | €140,899 | €35,994 | -€104,905 | -74.5% |
| Trade debts | 44 | €20,178 | €35,549 | +€15,371 | +76.2% |
| Suppliers | 440/4 | €20,178 | €35,549 | +€15,371 | +76.2% |
| Taxes, remuneration and social security | 45 | €5,565 | €185 | -€5,380 | -96.7% |
| Taxes | 450/3 | €5,565 | €185 | -€5,380 | -96.7% |
| Other amounts payable | 47/48 | €175,064 | €181,968 | +€6,904 | +3.9% |
| Accrued charges and deferred income | 492/3 | €544 | €288 | -€256 | -47.1% |
| Turnover | 70 | €190,440 | €202,766 | +€12,326 | +6.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €50,851 | €52,742 | +€1,891 | +3.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €90,000 | €120,178 | +€30,178 | +33.5% |
| Other operating charges | 640/8 | €20,425 | €19,951 | -€474 | -2.3% |
| Gross operating margin | 9900 | €139,589 | €150,024 | +€10,435 | +7.5% |
| Operating profit (loss) | 9901 | €29,164 | €9,895 | -€19,269 | -66.1% |
| Financial charges | 65/66B | €11,961 | €7,946 | -€4,015 | -33.6% |
| Recurring financial charges | 65 | €11,961 | €7,946 | -€4,015 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | €17,203 | €1,949 | -€15,254 | -88.7% |
| Income taxes | 67/77 | €5,020 | -€1,731 | -€6,751 | |
| Profit (loss) for the period | 9904 | €12,183 | €3,680 | -€8,503 | -69.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,183 | €3,680 | -€8,503 | -69.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.