INDEFF: what changed
Two fiscal 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.
INDEFF
Largest movements
- Receivables within one year +€470,594
up €470,594 (+14.5%), from €3.2m to €3.7m
- Cash -€67,862
down €67,862 (-98.0%), from €69,277 to €1,415
mainly Receivables within one year (-€470,594) and Trade debts (-€201,932)
- Tax, wage and social debts +€847,814
up €847,814 (+55.7%), from €1.5m to €2.4m
of which Remuneration and social security: +€440,819
- Trade debts -€201,932
down €201,932 (-18.2%), from €1.1m to €907,580
- Accrued charges and deferred income -€171,759
down €171,759 (-95.9%), from €179,095 to €7,337
- Short-term financial debts -€134,412
down €134,412 (-21.2%), from €634,412 to €500,000
- Other debts +€100,265
up €100,265 (+181.7%), from €55,192 to €155,457
- Staff costs -€252,451
down €252,451 (-9.7%), from €2.6m to €2.3m
- Gross operating margin +€183,426
up €183,426 (+8.0%), from €2.3m to €2.5m
- Financial income +€25,627
up €25,627 (+1092.0%), from €2,347 to €27,974
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.
Cash bridge derived
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 | €3,373,652 | €3,751,252 | +€377,600 | +11.2% |
| Fixed assets | 21/28 | €14,931 | €9,013 | -€5,918 | -39.6% |
| Tangible fixed assets | 22/27 | €13,471 | €7,553 | -€5,918 | -43.9% |
| Plant, machinery and equipment | 23 | €3,100 | - | -€3,100 | |
| Furniture and vehicles | 24 | €10,371 | €7,553 | -€2,818 | -27.2% |
| Financial fixed assets | 28 | €1,460 | €1,460 | = | 0.0% |
| Current assets | 29/58 | €3,358,721 | €3,742,239 | +€383,518 | +11.4% |
| Amounts receivable within one year | 40/41 | €3,248,733 | €3,719,327 | +€470,594 | +14.5% |
| Trade receivables | 40 | €3,248,733 | €3,719,327 | +€470,594 | +14.5% |
| Cash at bank and in hand | 54/58 | €69,277 | €1,415 | -€67,862 | -98.0% |
| Deferred charges and accrued income | 490/1 | €40,711 | €21,497 | -€19,215 | -47.2% |
| Total equity and liabilities | 10/49 | €3,373,652 | €3,751,252 | +€377,600 | +11.2% |
| Equity | 10/15 | -€126,314 | -€188,690 | -€62,376 | -49.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | - | -€1,855 | |
| Reserves not available under the articles | 1311 | €1,855 | - | -€1,855 | |
| Distributable reserves | 133 | - | €1,855 | +€1,855 | |
| Profit (loss) carried forward | 14 | -€146,719 | -€209,095 | -€62,376 | -42.5% |
| Amounts payable | 17/49 | €3,499,967 | €3,939,942 | +€439,976 | +12.6% |
| Amounts payable within one year | 42/48 | €3,320,871 | €3,932,606 | +€611,735 | +18.4% |
| Financial debts | 43 | €634,412 | €500,000 | -€134,412 | -21.2% |
| Credit institutions | 430/8 | €634,412 | €500,000 | -€134,412 | -21.2% |
| Trade debts | 44 | €1,109,513 | €907,580 | -€201,932 | -18.2% |
| Suppliers | 440/4 | €1,109,513 | €907,580 | -€201,932 | -18.2% |
| Taxes, remuneration and social security | 45 | €1,521,755 | €2,369,569 | +€847,814 | +55.7% |
| Taxes | 450/3 | €817,413 | €1,224,409 | +€406,995 | +49.8% |
| Remuneration and social security | 454/9 | €704,341 | €1,145,160 | +€440,819 | +62.6% |
| Other amounts payable | 47/48 | €55,192 | €155,457 | +€100,265 | +181.7% |
| Accrued charges and deferred income | 492/3 | €179,095 | €7,337 | -€171,759 | -95.9% |
| Remuneration, social security and pensions | 62 | €2,599,504 | €2,347,053 | -€252,451 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,436 | €5,918 | -€5,518 | -48.3% |
| Other operating charges | 640/8 | €65,683 | €54,808 | -€10,875 | -16.6% |
| Gross operating margin | 9900 | €2,286,098 | €2,469,524 | +€183,426 | +8.0% |
| Operating profit (loss) | 9901 | -€390,525 | €61,746 | +€452,270 | |
| Financial income | 75/76B | €2,347 | €27,974 | +€25,627 | +1092.0% |
| Recurring financial income | 75 | €2,347 | €27,974 | +€25,627 | +1092.0% |
| Financial charges | 65/66B | €159,409 | €145,843 | -€13,566 | -8.5% |
| Recurring financial charges | 65 | €159,409 | €145,843 | -€13,566 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | -€547,587 | -€56,123 | +€491,463 | +89.8% |
| Income taxes | 67/77 | €6,942 | €6,252 | -€690 | -9.9% |
| Profit (loss) for the period | 9904 | -€554,529 | -€62,376 | +€492,153 | +88.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€554,529 | -€62,376 | +€492,153 | +88.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.