INDELPRO: 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.
INDELPRO
Largest movements
- Receivables within one year +€128,254
up €128,254 (+47.6%), from €269,229 to €397,483
of which Other amounts receivable: +€123,233
- Cash +€40,507
up €40,507 (+88.6%), from €45,736 to €86,243
mainly Trade debts (+€271,665) and Net result for the year (+€4,782)
- Trade debts +€271,665
up €271,665 (+991.8%), from €27,392 to €299,057
- Other debts -€91,625
down €91,625 (-98.1%), from €93,355 to €1,730
- Tax, wage and social debts -€14,692
down €14,692 (-64.2%), from €22,882 to €8,190
of which Taxes: -€14,028
- Gross operating margin -€72,467
down €72,467 (-57.8%), from €125,384 to €52,917
- Staff costs -€26,577
down €26,577 (-40.1%), from €66,235 to €39,659
- Taxes -€14,012
down €14,012 (-85.7%), from €16,352 to €2,340
- Financial income -€12,090
down €12,090 (-100.0%), from €12,093 to €2
- Write-downs -€9,714
no longer reported in 2025 (was €9,714)
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 | €332,171 | €502,900 | +€170,729 | +51.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €2,332 | €1,743 | -€589 | -25.3% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €2,332 | €1,743 | -€589 | -25.3% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €2,332 | €1,743 | -€589 | -25.3% |
| Current assets | 29/58 | €329,839 | €501,157 | +€171,318 | +51.9% |
| Stocks and contracts in progress | 3 | €13,066 | €14,000 | +€934 | +7.1% |
| Stocks | 30/36 | €13,066 | €14,000 | +€934 | +7.1% |
| Amounts receivable within one year | 40/41 | €269,229 | €397,483 | +€128,254 | +47.6% |
| Trade receivables | 40 | €257,461 | €262,482 | +€5,021 | +2.0% |
| Other amounts receivable | 41 | €11,768 | €135,001 | +€123,233 | +1047.2% |
| Cash at bank and in hand | 54/58 | €45,736 | €86,243 | +€40,507 | +88.6% |
| Deferred charges and accrued income | 490/1 | €1,807 | €3,431 | +€1,624 | +89.8% |
| Total equity and liabilities | 10/49 | €332,171 | €502,900 | +€170,729 | +51.4% |
| Equity | 10/15 | €186,292 | €191,073 | +€4,782 | +2.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €173,892 | €178,673 | +€4,782 | +2.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €172,032 | €178,673 | +€6,642 | +3.9% |
| Amounts payable | 17/49 | €145,880 | €311,827 | +€165,947 | +113.8% |
| Amounts payable within one year | 42/48 | €143,630 | €308,977 | +€165,347 | +115.1% |
| Trade debts | 44 | €27,392 | €299,057 | +€271,665 | +991.8% |
| Suppliers | 440/4 | €27,392 | €299,057 | +€271,665 | +991.8% |
| Taxes, remuneration and social security | 45 | €22,882 | €8,190 | -€14,692 | -64.2% |
| Taxes | 450/3 | €16,368 | €2,340 | -€14,028 | -85.7% |
| Remuneration and social security | 454/9 | €6,514 | €5,849 | -€665 | -10.2% |
| Other amounts payable | 47/48 | €93,355 | €1,730 | -€91,625 | -98.1% |
| Accrued charges and deferred income | 492/3 | €2,250 | €2,850 | +€600 | +26.7% |
| Remuneration, social security and pensions | 62 | €66,235 | €39,659 | -€26,577 | -40.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,396 | €589 | -€807 | -57.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,714 | - | -€9,714 | |
| Other operating charges | 640/8 | €536 | €571 | +€36 | +6.6% |
| Gross operating margin | 9900 | €125,384 | €52,917 | -€72,467 | -57.8% |
| Operating profit (loss) | 9901 | €47,502 | €12,098 | -€35,405 | -74.5% |
| Financial income | 75/76B | €12,093 | €2 | -€12,090 | -100.0% |
| Recurring financial income | 75 | €12,093 | €2 | -€12,090 | -100.0% |
| Financial charges | 65/66B | €345 | €4,978 | +€4,633 | +1341.8% |
| Recurring financial charges | 65 | €345 | €4,978 | +€4,633 | +1341.8% |
| Profit (loss) for the period before taxes | 9903 | €59,250 | €7,122 | -€52,128 | -88.0% |
| Income taxes | 67/77 | €16,352 | €2,340 | -€14,012 | -85.7% |
| Profit (loss) for the period | 9904 | €42,898 | €4,782 | -€38,116 | -88.9% |
| Profit (loss) for the period to be appropriated | 9905 | €42,898 | €4,782 | -€38,116 | -88.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.