INDECON: 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.
INDECON
Largest movements
- Receivables within one year +€106,153
up €106,153 (+43.2%), from €245,877 to €352,030
of which Trade receivables: +€120,042
- Tangible fixed assets -€22,796
down €22,796 (-27.3%), from €83,405 to €60,609
- Deferred charges and accrued income +€19,349
up €19,349 (+4,898%), from €395 to €19,744
- Stocks and contracts -€11,685
down €11,685 (-6.7%), from €174,081 to €162,396
of which Stocks: -€6,451
- Cash +€9,943
up €9,943 (+30.8%), from €32,319 to €42,262
mainly Trade debts (+€112,852) and Accrued charges and deferred income (+€66,898)
- Trade debts +€112,852
up €112,852 (+104%), from €108,719 to €221,571
- Accrued charges and deferred income +€66,898
new in 2024: €66,898
- Debts after one year -€31,433
down €31,433 (-47.9%), from €65,676 to €34,242
- Advances received -€25,319
down €25,319 (-100%), from €25,319 to €0
- Other debts -€11,186
down €11,186 (-28.3%), from €39,483 to €28,297
- Gross operating margin -€94,800
down €94,800 (-49.2%), from €192,753 to €97,953
- Financial charges +€3,267
up €3,267 (+21.5%), from €15,229 to €18,496
- Depreciation -€2,764
down €2,764 (-10.2%), from €27,079 to €24,315
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.
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.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €543,668 | €643,113 | +€99,445 | +18.3% |
| Fixed assets | 21/28 | €90,996 | €66,681 | -€24,315 | -26.7% |
| Intangible fixed assets | 21 | €7,591 | €6,072 | -€1,519 | -20.0% |
| Tangible fixed assets | 22/27 | €83,405 | €60,609 | -€22,796 | -27.3% |
| Plant, machinery and equipment | 23 | €4,245 | €2,088 | -€2,157 | -50.8% |
| Furniture and vehicles | 24 | €19,967 | €14,644 | -€5,323 | -26.7% |
| Leasing and similar rights | 25 | €29,894 | €23,087 | -€6,807 | -22.8% |
| Other tangible fixed assets | 26 | €29,299 | €20,790 | -€8,508 | -29.0% |
| Current assets | 29/58 | €452,672 | €576,431 | +€123,760 | +27.3% |
| Stocks and contracts in progress | 3 | €174,081 | €162,396 | -€11,685 | -6.7% |
| Stocks | 30/36 | €168,847 | €162,396 | -€6,451 | -3.8% |
| Contracts in progress | 37 | €5,234 | €0 | -€5,234 | -100% |
| Amounts receivable within one year | 40/41 | €245,877 | €352,030 | +€106,153 | +43.2% |
| Trade receivables | 40 | €223,968 | €344,010 | +€120,042 | +53.6% |
| Other amounts receivable | 41 | €21,908 | €8,020 | -€13,889 | -63.4% |
| Cash at bank and in hand | 54/58 | €32,319 | €42,262 | +€9,943 | +30.8% |
| Deferred charges and accrued income | 490/1 | €395 | €19,744 | +€19,349 | +4,898% |
| Total equity and liabilities | 10/49 | €543,668 | €643,113 | +€99,445 | +18.3% |
| Equity | 10/15 | €165,811 | €157,949 | -€7,862 | -4.7% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,189 | -€22,051 | -€7,862 | -55.4% |
| Amounts payable | 17/49 | €377,856 | €485,164 | +€107,307 | +28.4% |
| Amounts payable after more than one year | 17 | €65,676 | €34,242 | -€31,433 | -47.9% |
| Financial debts | 170/4 | €65,676 | €34,242 | -€31,433 | -47.9% |
| Amounts payable within one year | 42/48 | €312,181 | €384,024 | +€71,843 | +23.0% |
| Current portion of amounts payable after more than one year | 42 | €31,920 | €31,433 | -€486 | -1.5% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €108,719 | €221,571 | +€112,852 | +104% |
| Suppliers | 440/4 | €108,719 | €221,571 | +€112,852 | +104% |
| Advances received on contracts in progress | 46 | €25,319 | €0 | -€25,319 | -100% |
| Taxes, remuneration and social security | 45 | €6,741 | €2,722 | -€4,018 | -59.6% |
| Taxes | 450/3 | €1,167 | €48 | -€1,118 | -95.9% |
| Remuneration and social security | 454/9 | €5,574 | €2,674 | -€2,900 | -52.0% |
| Other amounts payable | 47/48 | €39,483 | €28,297 | -€11,186 | -28.3% |
| Accrued charges and deferred income | 492/3 | - | €66,898 | +€66,898 | |
| Non-recurring operating income | 76A | €1,611 | €0 | -€1,611 | -100% |
| Remuneration, social security and pensions | 62 | €61,724 | €63,603 | +€1,879 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,079 | €24,315 | -€2,764 | -10.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €503 | +€503 | |
| Other operating charges | 640/8 | €2,646 | €1,795 | -€851 | -32.2% |
| Non-recurring operating charges | 66A | €2,605 | €0 | -€2,605 | -100% |
| Gross operating margin | 9900 | €192,753 | €97,953 | -€94,800 | -49.2% |
| Operating profit (loss) | 9901 | €98,699 | €7,737 | -€90,962 | -92.2% |
| Financial income | 75/76B | €4,717 | €3,094 | -€1,623 | -34.4% |
| Recurring financial income | 75 | €4,717 | €3,094 | -€1,623 | -34.4% |
| Financial charges | 65/66B | €15,229 | €18,496 | +€3,267 | +21.5% |
| Recurring financial charges | 65 | €15,229 | €18,496 | +€3,267 | +21.5% |
| Profit (loss) for the period before taxes | 9903 | €88,187 | -€7,666 | -€95,853 | |
| Income taxes | 67/77 | - | €196 | +€196 | |
| Profit (loss) for the period | 9904 | €88,187 | -€7,862 | -€96,049 | |
| Profit (loss) for the period to be appropriated | 9905 | €88,187 | -€7,862 | -€96,049 |
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 17 October 2026 via checked.be.