INDEED: 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.
INDEED
Largest movements
- Receivables within one year +€38,300
up €38,300 (+8.6%), from €445,991 to €484,291
of which Trade receivables: +€23,484
- Tangible fixed assets -€8,958
down €8,958 (-28.5%), from €31,460 to €22,501
of which Furniture and vehicles: -€8,841
- Reserves +€64,000
up €64,000 (+19.3%), from €332,200 to €396,200
- Other debts -€16,900
down €16,900 (-52.8%), from €32,000 to €15,100
- Trade debts -€14,991
down €14,991 (-29.1%), from €51,573 to €36,582
- Debts after one year -€7,175
down €7,175 (-64.2%), from €11,182 to €4,008
- Taxes +€1,997
up €1,997 (+5.6%), from €35,697 to €37,694
- Gross operating margin +€1,472
up €1,472 (+1.1%), from €133,919 to €135,392
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 | €509,748 | €535,754 | +€26,006 | +5.1% |
| Fixed assets | 21/28 | €35,260 | €26,302 | -€8,958 | -25.4% |
| Tangible fixed assets | 22/27 | €31,460 | €22,501 | -€8,958 | -28.5% |
| Land and buildings | 22 | €2,623 | €2,505 | -€117 | -4.5% |
| Furniture and vehicles | 24 | €28,837 | €19,996 | -€8,841 | -30.7% |
| Financial fixed assets | 28 | €3,801 | €3,801 | = | 0.0% |
| Current assets | 29/58 | €474,488 | €509,452 | +€34,964 | +7.4% |
| Amounts receivable within one year | 40/41 | €445,991 | €484,291 | +€38,300 | +8.6% |
| Trade receivables | 40 | €398,680 | €422,164 | +€23,484 | +5.9% |
| Other amounts receivable | 41 | €47,311 | €62,127 | +€14,816 | +31.3% |
| Cash at bank and in hand | 54/58 | €28,496 | €25,161 | -€3,335 | -11.7% |
| Total equity and liabilities | 10/49 | €509,748 | €535,754 | +€26,006 | +5.1% |
| Equity | 10/15 | €369,097 | €433,272 | +€64,175 | +17.4% |
| Contributions | 10/11 | €23,710 | €23,710 | = | 0.0% |
| Reserves | 13 | €332,200 | €396,200 | +€64,000 | +19.3% |
| Distributable reserves | 133 | €332,200 | €396,200 | +€64,000 | +19.3% |
| Profit (loss) carried forward | 14 | €13,187 | €13,362 | +€175 | +1.3% |
| Amounts payable | 17/49 | €140,652 | €102,483 | -€38,169 | -27.1% |
| Amounts payable after more than one year | 17 | €11,182 | €4,008 | -€7,175 | -64.2% |
| Financial debts | 170/4 | €11,182 | €4,008 | -€7,175 | -64.2% |
| Amounts payable within one year | 42/48 | €127,366 | €97,138 | -€30,228 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | €20,606 | €20,287 | -€318 | -1.5% |
| Trade debts | 44 | €51,573 | €36,582 | -€14,991 | -29.1% |
| Suppliers | 440/4 | €51,573 | €36,582 | -€14,991 | -29.1% |
| Taxes, remuneration and social security | 45 | €23,187 | €25,168 | +€1,981 | +8.5% |
| Taxes | 450/3 | €23,187 | €25,168 | +€1,981 | +8.5% |
| Other amounts payable | 47/48 | €32,000 | €15,100 | -€16,900 | -52.8% |
| Accrued charges and deferred income | 492/3 | €2,103 | €1,337 | -€766 | -36.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,667 | €10,425 | -€242 | -2.3% |
| Other operating charges | 640/8 | €3,375 | €4,560 | +€1,185 | +35.1% |
| Gross operating margin | 9900 | €133,919 | €135,392 | +€1,472 | +1.1% |
| Operating profit (loss) | 9901 | €119,877 | €120,407 | +€529 | +0.4% |
| Financial income | 75/76B | €1,535 | €2,802 | +€1,267 | +82.6% |
| Recurring financial income | 75 | €1,535 | €2,802 | +€1,267 | +82.6% |
| Financial charges | 65/66B | €2,658 | €1,340 | -€1,318 | -49.6% |
| Recurring financial charges | 65 | €2,658 | €1,340 | -€1,318 | -49.6% |
| Profit (loss) for the period before taxes | 9903 | €118,754 | €121,868 | +€3,114 | +2.6% |
| Income taxes | 67/77 | €35,697 | €37,694 | +€1,997 | +5.6% |
| Profit (loss) for the period | 9904 | €83,058 | €84,175 | +€1,117 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €83,058 | €84,175 | +€1,117 | +1.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.