indelinde: 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.
indelinde
Largest movements
- Tangible fixed assets +€2.8m
up €2.8m (+479.6%), from €576,032 to €3.3m
of which Land and buildings: +€2.7m
- Current investments +€152,450
new in 2025: €152,450
- Reserves +€1.9m
up €1.9m (+1726.2%), from €108,885 to €2.0m
of which Distributable reserves: +€1.6m
- Debts after one year +€750,330
up €750,330 (+215.1%), from €348,865 to €1.1m
- Other debts +€110,578
up €110,578 (+215.4%), from €51,333 to €161,911
- Provisions +€103,039
new in 2025: €103,039
- Current portion of long-term debt +€90,350
up €90,350 (+256.5%), from €35,230 to €125,580
- Gross operating margin +€144,598
up €144,598 (+245.5%), from €58,901 to €203,499
- Depreciation +€121,253
up €121,253 (+521.3%), from €23,261 to €144,515
- Financial charges +€37,634
up €37,634 (+570.9%), from €6,593 to €44,227
- Other operating charges +€17,201
up €17,201 (+240.3%), from €7,157 to €24,359
- Taxes -€2,398
down €2,398 (-30.1%), from €7,964 to €5,566
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.
Cash bridge derived
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 | €609,181 | €3,583,077 | +€3.0m | +488.2% |
| Fixed assets | 21/28 | €576,032 | €3,338,602 | +€2.8m | +479.6% |
| Tangible fixed assets | 22/27 | €576,032 | €3,338,602 | +€2.8m | +479.6% |
| Land and buildings | 22 | €570,881 | €3,305,111 | +€2.7m | +478.9% |
| Plant, machinery and equipment | 23 | - | €1,702 | +€1,702 | |
| Furniture and vehicles | 24 | €5,152 | €3,797 | -€1,355 | -26.3% |
| Other tangible fixed assets | 26 | - | €27,991 | +€27,991 | |
| Current assets | 29/58 | €33,149 | €244,475 | +€211,326 | +637.5% |
| Amounts receivable within one year | 40/41 | €2,036 | €22,656 | +€20,621 | +1013.0% |
| Other amounts receivable | 41 | €2,036 | €22,656 | +€20,621 | +1013.0% |
| Current investments | 50/53 | - | €152,450 | +€152,450 | |
| Cash at bank and in hand | 54/58 | €29,785 | €60,802 | +€31,017 | +104.1% |
| Deferred charges and accrued income | 490/1 | €1,328 | €8,567 | +€7,239 | +545.1% |
| Total equity and liabilities | 10/49 | €609,181 | €3,583,077 | +€3.0m | +488.2% |
| Equity | 10/15 | €170,885 | €2,062,862 | +€1.9m | +1107.2% |
| Contributions | 10/11 | €62,000 | €74,400 | +€12,400 | +20.0% |
| Reserves | 13 | €108,885 | €1,988,462 | +€1.9m | +1726.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | - | €309,117 | +€309,117 | |
| Distributable reserves | 133 | €108,885 | €1,679,345 | +€1.6m | +1442.3% |
| Provisions and deferred taxes | 16 | - | €103,039 | +€103,039 | |
| Deferred taxes | 168 | - | €103,039 | +€103,039 | |
| Amounts payable | 17/49 | €438,296 | €1,417,177 | +€978,881 | +223.3% |
| Amounts payable after more than one year | 17 | €348,865 | €1,099,195 | +€750,330 | +215.1% |
| Financial debts | 170/4 | €348,865 | €1,099,195 | +€750,330 | +215.1% |
| Amounts payable within one year | 42/48 | €89,431 | €310,898 | +€221,467 | +247.6% |
| Current portion of amounts payable after more than one year | 42 | €35,230 | €125,580 | +€90,350 | +256.5% |
| Financial debts | 43 | - | €15,048 | +€15,048 | |
| Credit institutions | 430/8 | - | €15,048 | +€15,048 | |
| Trade debts | 44 | €2,341 | €3,364 | +€1,023 | +43.7% |
| Suppliers | 440/4 | €2,341 | €3,364 | +€1,023 | +43.7% |
| Taxes, remuneration and social security | 45 | €527 | €4,995 | +€4,468 | +847.2% |
| Taxes | 450/3 | €527 | €4,995 | +€4,468 | +847.2% |
| Other amounts payable | 47/48 | €51,333 | €161,911 | +€110,578 | +215.4% |
| Accrued charges and deferred income | 492/3 | - | €7,084 | +€7,084 | |
| Non-recurring operating income | 76A | - | €6,987 | +€6,987 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,261 | €144,515 | +€121,253 | +521.3% |
| Other operating charges | 640/8 | €7,157 | €24,359 | +€17,201 | +240.3% |
| Non-recurring operating charges | 66A | - | €3,100 | +€3,100 | |
| Gross operating margin | 9900 | €58,901 | €203,499 | +€144,598 | +245.5% |
| Operating profit (loss) | 9901 | €28,482 | €31,526 | +€3,044 | +10.7% |
| Financial income | 75/76B | €719 | €2,447 | +€1,728 | +240.2% |
| Recurring financial income | 75 | €719 | €2,447 | +€1,728 | +240.2% |
| Financial charges | 65/66B | €6,593 | €44,227 | +€37,634 | +570.9% |
| Recurring financial charges | 65 | €6,593 | €44,227 | +€37,634 | +570.9% |
| Profit (loss) for the period before taxes | 9903 | €22,609 | -€10,254 | -€32,863 | |
| Transfer from deferred taxes | 780 | - | €5,217 | +€5,217 | |
| Income taxes | 67/77 | €7,964 | €5,566 | -€2,398 | -30.1% |
| Profit (loss) for the period | 9904 | €14,645 | -€10,603 | -€25,248 | |
| Transfer from tax-exempt reserves | 789 | - | €15,651 | +€15,651 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,645 | €5,048 | -€9,597 | -65.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.