INDESO: 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.
INDESO
Largest movements
- Cash +€48,551
up €48,551 (+51.3%), from €94,732 to €143,283
mainly Net result for the year (+€57,157) and Deferred charges and accrued income (+€3,245)
- Receivables within one year +€8,173
up €8,173 (+24.6%), from €33,254 to €41,427
of which Trade receivables: +€9,022
- Deferred charges and accrued income -€3,245
down €3,245 (-23.6%), from €13,723 to €10,478
- Reserves +€57,157
up €57,157 (+82.0%), from €69,670 to €126,827
- Tax, wage and social debts -€6,292
down €6,292 (-32.1%), from €19,571 to €13,280
- Gross operating margin +€8,508
up €8,508 (+10.4%), from €82,075 to €90,583
- Other operating charges -€3,540
down €3,540 (-53.5%), from €6,619 to €3,079
- Taxes +€3,458
up €3,458 (+17.0%), from €20,296 to €23,755
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 | €147,085 | €198,936 | +€51,851 | +35.3% |
| Fixed assets | 21/28 | €5,376 | €3,747 | -€1,628 | -30.3% |
| Tangible fixed assets | 22/27 | €5,376 | €3,747 | -€1,628 | -30.3% |
| Furniture and vehicles | 24 | €5,376 | €3,747 | -€1,628 | -30.3% |
| Current assets | 29/58 | €141,709 | €195,188 | +€53,479 | +37.7% |
| Amounts receivable within one year | 40/41 | €33,254 | €41,427 | +€8,173 | +24.6% |
| Trade receivables | 40 | €32,371 | €41,393 | +€9,022 | +27.9% |
| Other amounts receivable | 41 | €883 | €33 | -€849 | -96.2% |
| Cash at bank and in hand | 54/58 | €94,732 | €143,283 | +€48,551 | +51.3% |
| Deferred charges and accrued income | 490/1 | €13,723 | €10,478 | -€3,245 | -23.6% |
| Total equity and liabilities | 10/49 | €147,085 | €198,936 | +€51,851 | +35.3% |
| Equity | 10/15 | €121,333 | €178,490 | +€57,157 | +47.1% |
| Contributions | 10/11 | €51,663 | €51,663 | = | 0.0% |
| Reserves | 13 | €69,670 | €126,827 | +€57,157 | +82.0% |
| Distributable reserves | 133 | €69,670 | €126,827 | +€57,157 | +82.0% |
| Amounts payable | 17/49 | €25,752 | €20,445 | -€5,306 | -20.6% |
| Amounts payable within one year | 42/48 | €25,752 | €20,445 | -€5,306 | -20.6% |
| Trade debts | 44 | €2,001 | €3,620 | +€1,619 | +80.9% |
| Suppliers | 440/4 | €2,001 | €3,620 | +€1,619 | +80.9% |
| Taxes, remuneration and social security | 45 | €19,571 | €13,280 | -€6,292 | -32.1% |
| Taxes | 450/3 | €19,571 | €13,280 | -€6,292 | -32.1% |
| Other amounts payable | 47/48 | €4,179 | €3,546 | -€634 | -15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,863 | €3,077 | +€215 | +7.5% |
| Other operating charges | 640/8 | €6,619 | €3,079 | -€3,540 | -53.5% |
| Gross operating margin | 9900 | €82,075 | €90,583 | +€8,508 | +10.4% |
| Operating profit (loss) | 9901 | €72,593 | €84,427 | +€11,834 | +16.3% |
| Financial income | 75/76B | €168 | €946 | +€778 | +464% |
| Recurring financial income | 75 | €168 | €946 | +€778 | +464% |
| Financial charges | 65/66B | €4,430 | €4,461 | +€31 | +0.7% |
| Recurring financial charges | 65 | €4,430 | €4,461 | +€31 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €68,331 | €80,912 | +€12,581 | +18.4% |
| Income taxes | 67/77 | €20,296 | €23,755 | +€3,458 | +17.0% |
| Profit (loss) for the period | 9904 | €48,035 | €57,157 | +€9,122 | +19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,035 | €57,157 | +€9,122 | +19.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.