INDESTEGE MARC: 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.
INDESTEGE MARC
Largest movements
- Cash +€863,123
new in 2025: €863,123
mainly Receivables within one year (+€554,378) and Net result for the year (+€385,261)
- Receivables within one year -€554,378
down €554,378 (-65.9%), from €841,520 to €287,142
of which Other amounts receivable: -€572,414
- Tangible fixed assets +€215,464
up €215,464 (+125%), from €172,558 to €388,022
of which Leasing and similar rights: +€193,086
- Stocks and contracts -€27,161
down €27,161 (-18.5%), from €147,190 to €120,029
- Reserves +€385,261
up €385,261 (+46.0%), from €838,357 to €1.2m
- Current portion of long-term debt +€138,575
up €138,575 (+409%), from €33,857 to €172,433
- Accrued charges and deferred income -€57,626
down €57,626 (-56.1%), from €102,652 to €45,026
- Staff costs -€77,003
down €77,003 (-29.4%), from €261,754 to €184,751
- Gross operating margin -€60,124
down €60,124 (-6.8%), from €879,584 to €819,460
- Depreciation +€31,842
up €31,842 (+57.9%), from €55,030 to €86,871
- Taxes -€18,817
down €18,817 (-10.4%), from €181,159 to €162,342
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 | €1,177,336 | €1,668,873 | +€491,537 | +41.7% |
| Fixed assets | 21/28 | €173,140 | €388,604 | +€215,464 | +124% |
| Tangible fixed assets | 22/27 | €172,558 | €388,022 | +€215,464 | +125% |
| Plant, machinery and equipment | 23 | €26,539 | €47,111 | +€20,572 | +77.5% |
| Furniture and vehicles | 24 | €35,471 | €37,278 | +€1,806 | +5.1% |
| Leasing and similar rights | 25 | €110,548 | €303,633 | +€193,086 | +175% |
| Financial fixed assets | 28 | €582 | €582 | = | 0.0% |
| Current assets | 29/58 | €1,004,197 | €1,280,269 | +€276,073 | +27.5% |
| Stocks and contracts in progress | 3 | €147,190 | €120,029 | -€27,161 | -18.5% |
| Stocks | 30/36 | €147,190 | €120,029 | -€27,161 | -18.5% |
| Amounts receivable within one year | 40/41 | €841,520 | €287,142 | -€554,378 | -65.9% |
| Trade receivables | 40 | €105,633 | €123,669 | +€18,036 | +17.1% |
| Other amounts receivable | 41 | €735,887 | €163,473 | -€572,414 | -77.8% |
| Cash at bank and in hand | 54/58 | - | €863,123 | +€863,123 | |
| Deferred charges and accrued income | 490/1 | €15,487 | €9,975 | -€5,511 | -35.6% |
| Total equity and liabilities | 10/49 | €1,177,336 | €1,668,873 | +€491,537 | +41.7% |
| Equity | 10/15 | €847,090 | €1,232,351 | +€385,261 | +45.5% |
| Contributions | 10/11 | €8,733 | €8,733 | = | 0.0% |
| Reserves | 13 | €838,357 | €1,223,618 | +€385,261 | +46.0% |
| Distributable reserves | 133 | €838,357 | €1,223,618 | +€385,261 | +46.0% |
| Amounts payable | 17/49 | €330,246 | €436,522 | +€106,276 | +32.2% |
| Amounts payable after more than one year | 17 | €76,902 | €85,134 | +€8,233 | +10.7% |
| Financial debts | 170/4 | €76,902 | €85,134 | +€8,233 | +10.7% |
| Amounts payable within one year | 42/48 | €150,693 | €306,362 | +€155,669 | +103% |
| Current portion of amounts payable after more than one year | 42 | €33,857 | €172,433 | +€138,575 | +409% |
| Financial debts | 43 | - | €8,485 | +€8,485 | |
| Credit institutions | 430/8 | - | €8,485 | +€8,485 | |
| Trade debts | 44 | €20,968 | €13,719 | -€7,249 | -34.6% |
| Suppliers | 440/4 | €20,968 | €13,719 | -€7,249 | -34.6% |
| Taxes, remuneration and social security | 45 | €95,867 | €110,381 | +€14,514 | +15.1% |
| Taxes | 450/3 | €68,758 | €73,507 | +€4,749 | +6.9% |
| Remuneration and social security | 454/9 | €27,110 | €36,874 | +€9,765 | +36.0% |
| Other amounts payable | 47/48 | - | €1,344 | +€1,344 | |
| Accrued charges and deferred income | 492/3 | €102,652 | €45,026 | -€57,626 | -56.1% |
| Non-recurring operating income | 76A | €15,385 | €20,500 | +€5,115 | +33.2% |
| Remuneration, social security and pensions | 62 | €261,754 | €184,751 | -€77,003 | -29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,030 | €86,871 | +€31,842 | +57.9% |
| Other operating charges | 640/8 | €11,754 | €10,173 | -€1,581 | -13.5% |
| Gross operating margin | 9900 | €879,584 | €819,460 | -€60,124 | -6.8% |
| Operating profit (loss) | 9901 | €551,047 | €537,665 | -€13,382 | -2.4% |
| Financial income | 75/76B | €21,069 | €21,404 | +€336 | +1.6% |
| Recurring financial income | 75 | €21,069 | €21,404 | +€336 | +1.6% |
| Financial charges | 65/66B | €6,204 | €11,466 | +€5,263 | +84.8% |
| Recurring financial charges | 65 | €6,204 | €10,126 | +€3,923 | +63.2% |
| Non-recurring financial charges | 66B | - | €1,340 | +€1,340 | |
| Profit (loss) for the period before taxes | 9903 | €565,912 | €547,603 | -€18,309 | -3.2% |
| Income taxes | 67/77 | €181,159 | €162,342 | -€18,817 | -10.4% |
| Profit (loss) for the period | 9904 | €384,753 | €385,261 | +€508 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €384,753 | €385,261 | +€508 | +0.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.