Indaver Separation Technologies: 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.
Indaver Separation Technologies
Largest movements
- Receivables within one year +€499,561
up €499,561 (+66.4%), from €752,079 to €1.3m
of which Other amounts receivable: +€456,211
- Tangible fixed assets -€452,491
down €452,491 (-33.9%), from €1.3m to €881,126
of which Plant, machinery and equipment: -€416,825
- Cash +€36,767
up €36,767 (+795%), from €4,627 to €41,394
mainly Depreciation (+€357,958) and Investment in fixed assets (net) (+€94,533)
- Profit (loss) carried forward +€51,575
up €51,575 (+11.3%), from €457,737 to €509,312
- Staff costs +€59,530
up €59,530 (+7.9%), from €755,494 to €815,024
- Gross operating margin +€47,570
up €47,570 (+3.9%), from €1.2m to €1.3m
- Taxes +€36,114
up €36,114 (+269%), from €13,433 to €49,547
- Financial charges -€30,356
down €30,356 (-99.5%), from €30,507 to €151
- Depreciation -€20,186
down €20,186 (-5.3%), from €378,144 to €357,958
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 | €2,109,863 | €2,175,694 | +€65,831 | +3.1% |
| Fixed assets | 21/28 | €1,333,617 | €881,126 | -€452,491 | -33.9% |
| Tangible fixed assets | 22/27 | €1,333,617 | €881,126 | -€452,491 | -33.9% |
| Plant, machinery and equipment | 23 | €1,194,469 | €777,644 | -€416,825 | -34.9% |
| Furniture and vehicles | 24 | €139,148 | €103,482 | -€35,666 | -25.6% |
| Current assets | 29/58 | €776,246 | €1,294,568 | +€518,322 | +66.8% |
| Stocks and contracts in progress | 3 | €18,552 | €0 | -€18,552 | -100% |
| Stocks | 30/36 | €18,552 | €0 | -€18,552 | -100% |
| Amounts receivable within one year | 40/41 | €752,079 | €1,251,640 | +€499,561 | +66.4% |
| Trade receivables | 40 | €257,149 | €300,500 | +€43,350 | +16.9% |
| Other amounts receivable | 41 | €494,929 | €951,140 | +€456,211 | +92.2% |
| Cash at bank and in hand | 54/58 | €4,627 | €41,394 | +€36,767 | +795% |
| Deferred charges and accrued income | 490/1 | €988 | €1,535 | +€546 | +55.3% |
| Total equity and liabilities | 10/49 | €2,109,863 | €2,175,694 | +€65,831 | +3.1% |
| Equity | 10/15 | €1,950,426 | €2,002,001 | +€51,575 | +2.6% |
| Contributions | 10/11 | €1,412,939 | €1,412,939 | = | 0.0% |
| Capital | 10 | €1,412,939 | €1,412,939 | = | 0.0% |
| Issued capital | 100 | €1,412,939 | €1,412,939 | = | 0.0% |
| Reserves | 13 | €79,751 | €79,751 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,601 | €16,601 | = | 0.0% |
| Legal reserve | 130 | €16,601 | €16,601 | = | 0.0% |
| Tax-exempt reserves | 132 | €63,150 | €63,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €457,737 | €509,312 | +€51,575 | +11.3% |
| Amounts payable | 17/49 | €159,436 | €173,693 | +€14,256 | +8.9% |
| Amounts payable within one year | 42/48 | €159,436 | €173,693 | +€14,256 | +8.9% |
| Trade debts | 44 | €38,833 | €59,333 | +€20,501 | +52.8% |
| Suppliers | 440/4 | €38,833 | €59,333 | +€20,501 | +52.8% |
| Taxes, remuneration and social security | 45 | €105,604 | €114,359 | +€8,756 | +8.3% |
| Taxes | 450/3 | €9,949 | €16,676 | +€6,727 | +67.6% |
| Remuneration and social security | 454/9 | €95,654 | €97,683 | +€2,029 | +2.1% |
| Other amounts payable | 47/48 | €15,000 | €0 | -€15,000 | -100% |
| Non-recurring operating income | 76A | - | €89,017 | +€89,017 | |
| Remuneration, social security and pensions | 62 | €755,494 | €815,024 | +€59,530 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €378,144 | €357,958 | -€20,186 | -5.3% |
| Other operating charges | 640/8 | €3,406 | €2,755 | -€651 | -19.1% |
| Gross operating margin | 9900 | €1,216,176 | €1,263,746 | +€47,570 | +3.9% |
| Operating profit (loss) | 9901 | €79,133 | €88,010 | +€8,877 | +11.2% |
| Financial income | 75/76B | €2,988 | €13,263 | +€10,275 | +344% |
| Recurring financial income | 75 | €988 | €13,263 | +€12,275 | +1,242% |
| Non-recurring financial income | 76B | €2,000 | - | -€2,000 | |
| Financial charges | 65/66B | €30,507 | €151 | -€30,356 | -99.5% |
| Recurring financial charges | 65 | €30,507 | €151 | -€30,356 | -99.5% |
| Profit (loss) for the period before taxes | 9903 | €51,614 | €101,121 | +€49,507 | +95.9% |
| Income taxes | 67/77 | €13,433 | €49,547 | +€36,114 | +269% |
| Profit (loss) for the period | 9904 | €38,182 | €51,575 | +€13,393 | +35.1% |
| Transfer to tax-exempt reserves | 689 | €63,150 | - | -€63,150 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,968 | €51,575 | +€76,543 |
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 14 October 2026 via checked.be.