Indeco: 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.
Indeco
Largest movements
- Cash +€36,216
up €36,216 (+164%), from €22,018 to €58,234
mainly Net result for the year (+€29,412) and Tax, wage and social debts (+€14,410)
- Tangible fixed assets -€2,080
down €2,080 (-13.8%), from €15,096 to €13,016
of which Furniture and vehicles: -€1,656
- Formation expenses -€1,434
down €1,434 (-100%), from €1,434 to €0
- Profit (loss) carried forward +€28,579
up €28,579 (+192%), from €14,851 to €43,431
- Tax, wage and social debts +€14,410
up €14,410 (+140%), from €10,261 to €24,671
of which Taxes: +€10,410
- Other debts -€9,371
down €9,371 (-52.1%), from €17,995 to €8,624
- Gross operating margin +€22,513
up €22,513 (+103%), from €21,858 to €44,371
- Depreciation +€4,347
up €4,347 (+253%), from €1,721 to €6,068
- Taxes +€3,447
up €3,447 (+87.2%), from €3,953 to €7,400
- Financial charges +€579
up €579 (+161%), from €359 to €938
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 | €46,867 | €79,753 | +€32,886 | +70.2% |
| Formation expenses | 20 | €1,434 | €0 | -€1,434 | -100% |
| Fixed assets | 21/28 | €15,096 | €13,016 | -€2,080 | -13.8% |
| Tangible fixed assets | 22/27 | €15,096 | €13,016 | -€2,080 | -13.8% |
| Plant, machinery and equipment | 23 | €1,164 | €740 | -€424 | -36.4% |
| Furniture and vehicles | 24 | €13,932 | €12,275 | -€1,656 | -11.9% |
| Current assets | 29/58 | €30,337 | €66,738 | +€36,401 | +120% |
| Amounts receivable within one year | 40/41 | €6,915 | €7,400 | +€485 | +7.0% |
| Trade receivables | 40 | €6,915 | €7,400 | +€485 | +7.0% |
| Cash at bank and in hand | 54/58 | €22,018 | €58,234 | +€36,216 | +164% |
| Deferred charges and accrued income | 490/1 | €1,404 | €1,104 | -€301 | -21.4% |
| Total equity and liabilities | 10/49 | €46,867 | €79,753 | +€32,886 | +70.2% |
| Equity | 10/15 | €17,851 | €46,431 | +€28,579 | +160% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,851 | €43,431 | +€28,579 | +192% |
| Amounts payable | 17/49 | €29,016 | €33,323 | +€4,307 | +14.8% |
| Amounts payable within one year | 42/48 | €29,016 | €33,323 | +€4,307 | +14.8% |
| Trade debts | 44 | €760 | €28 | -€732 | -96.3% |
| Suppliers | 440/4 | €760 | €28 | -€732 | -96.3% |
| Taxes, remuneration and social security | 45 | €10,261 | €24,671 | +€14,410 | +140% |
| Taxes | 450/3 | €10,261 | €20,671 | +€10,410 | +101% |
| Remuneration and social security | 454/9 | - | €4,000 | +€4,000 | |
| Other amounts payable | 47/48 | €17,995 | €8,624 | -€9,371 | -52.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,721 | €6,068 | +€4,347 | +253% |
| Other operating charges | 640/8 | €141 | €555 | +€415 | +295% |
| Gross operating margin | 9900 | €21,858 | €44,371 | +€22,513 | +103% |
| Operating profit (loss) | 9901 | €19,996 | €37,748 | +€17,752 | +88.8% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €359 | €938 | +€579 | +161% |
| Recurring financial charges | 65 | €359 | €938 | +€579 | +161% |
| Profit (loss) for the period before taxes | 9903 | €19,637 | €36,813 | +€17,175 | +87.5% |
| Income taxes | 67/77 | €3,953 | €7,400 | +€3,447 | +87.2% |
| Profit (loss) for the period | 9904 | €15,684 | €29,412 | +€13,728 | +87.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,684 | €29,412 | +€13,728 | +87.5% |
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 15 October 2026 via checked.be.