INDICODE: 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.
INDICODE
Largest movements
- Cash -€19,385
down €19,385 (-42.3%), from €45,858 to €26,473
mainly Contributions, distributions and other (-€83,000) and Trade debts (-€2,748)
- Tangible fixed assets -€2,179
down €2,179 (-82.6%), from €2,639 to €460
of which Furniture and vehicles: -€1,673
- Receivables within one year +€967
up €967 (+4.3%), from €22,302 to €23,269
of which Trade receivables: +€4,473
- Reserves -€46,840
down €46,840 (-80.0%), from €58,565 to €11,726
- Other debts +€25,000
new in 2025: €25,000
- Tax, wage and social debts +€3,315
up €3,315 (+35.0%), from €9,461 to €12,776
of which Taxes: +€3,298
- Trade debts -€2,748
down €2,748 (-79.5%), from €3,456 to €708
- Gross operating margin +€4,630
up €4,630 (+10.2%), from €45,275 to €49,905
- Depreciation -€1,199
down €1,199 (-35.5%), from €3,378 to €2,179
- Taxes +€1,140
up €1,140 (+13.1%), from €8,731 to €9,871
- Other operating charges +€528
up €528 (+48.9%), from €1,081 to €1,609
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 | €73,983 | €52,710 | -€21,273 | -28.8% |
| Fixed assets | 21/28 | €2,639 | €460 | -€2,179 | -82.6% |
| Tangible fixed assets | 22/27 | €2,639 | €460 | -€2,179 | -82.6% |
| Plant, machinery and equipment | 23 | €549 | €43 | -€506 | -92.2% |
| Furniture and vehicles | 24 | €2,090 | €417 | -€1,673 | -80.0% |
| Current assets | 29/58 | €71,343 | €52,250 | -€19,094 | -26.8% |
| Amounts receivable within one year | 40/41 | €22,302 | €23,269 | +€967 | +4.3% |
| Trade receivables | 40 | €18,289 | €22,762 | +€4,473 | +24.5% |
| Other amounts receivable | 41 | €4,013 | €507 | -€3,506 | -87.4% |
| Cash at bank and in hand | 54/58 | €45,858 | €26,473 | -€19,385 | -42.3% |
| Deferred charges and accrued income | 490/1 | €3,184 | €2,508 | -€676 | -21.2% |
| Total equity and liabilities | 10/49 | €73,983 | €52,710 | -€21,273 | -28.8% |
| Equity | 10/15 | €61,065 | €14,226 | -€46,840 | -76.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €58,565 | €11,726 | -€46,840 | -80.0% |
| Distributable reserves | 133 | €58,565 | €11,726 | -€46,840 | -80.0% |
| Amounts payable | 17/49 | €12,917 | €38,485 | +€25,567 | +198% |
| Amounts payable within one year | 42/48 | €12,917 | €38,485 | +€25,567 | +198% |
| Trade debts | 44 | €3,456 | €708 | -€2,748 | -79.5% |
| Suppliers | 440/4 | €3,456 | €708 | -€2,748 | -79.5% |
| Taxes, remuneration and social security | 45 | €9,461 | €12,776 | +€3,315 | +35.0% |
| Taxes | 450/3 | €7,150 | €10,448 | +€3,298 | +46.1% |
| Remuneration and social security | 454/9 | €2,311 | €2,328 | +€17 | +0.7% |
| Other amounts payable | 47/48 | - | €25,000 | +€25,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,378 | €2,179 | -€1,199 | -35.5% |
| Other operating charges | 640/8 | €1,081 | €1,609 | +€528 | +48.9% |
| Gross operating margin | 9900 | €45,275 | €49,905 | +€4,630 | +10.2% |
| Operating profit (loss) | 9901 | €40,816 | €46,117 | +€5,301 | +13.0% |
| Financial income | 75/76B | €50 | €17 | -€33 | -65.9% |
| Recurring financial income | 75 | €50 | €17 | -€33 | -65.9% |
| Financial charges | 65/66B | €0 | €103 | +€103 | +515,050% |
| Recurring financial charges | 65 | €0 | €103 | +€103 | +515,050% |
| Profit (loss) for the period before taxes | 9903 | €40,866 | €46,031 | +€5,165 | +12.6% |
| Income taxes | 67/77 | €8,731 | €9,871 | +€1,140 | +13.1% |
| Profit (loss) for the period | 9904 | €32,135 | €36,160 | +€4,026 | +12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €32,135 | €36,160 | +€4,026 | +12.5% |
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 18 October 2026 via checked.be.