INDICT: 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.
INDICT
Largest movements
- Cash +€22,922
up €22,922 (+262.4%), from €8,736 to €31,658
mainly Net result for the year (+€18,033) and Receivables after one year (+€12,312)
- Receivables after one year -€12,312
down €12,312 (-88.4%), from €13,925 to €1,613
- Tangible fixed assets -€3,886
down €3,886 (-81.3%), from €4,782 to €896
of which Leasing and similar rights: -€2,867
- Reserves -€11,826
down €11,826 (-13.3%), from €88,780 to €76,954
- Tax, wage and social debts +€10,868
up €10,868 (+180.9%), from €6,007 to €16,875
- Other debts +€6,653
new in 2025: €6,653
- Current portion of long-term debt -€2,803
no longer reported in 2025 (was €2,803)
- Trade debts +€2,487
up €2,487 (+304.8%), from €816 to €3,303
- Gross operating margin -€9,055
down €9,055 (-20.1%), from €45,101 to €36,046
- Depreciation -€1,572
down €1,572 (-24.0%), from €6,537 to €4,965
- Taxes +€785
up €785 (+7.1%), from €11,115 to €11,899
- Other operating charges +€662
up €662 (+129.0%), from €513 to €1,175
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 | €104,605 | €109,984 | +€5,379 | +5.1% |
| Fixed assets | 21/28 | €4,782 | €896 | -€3,886 | -81.3% |
| Tangible fixed assets | 22/27 | €4,782 | €896 | -€3,886 | -81.3% |
| Furniture and vehicles | 24 | €1,914 | €896 | -€1,019 | -53.2% |
| Leasing and similar rights | 25 | €2,867 | - | -€2,867 | |
| Current assets | 29/58 | €99,824 | €109,088 | +€9,265 | +9.3% |
| Amounts receivable after more than one year | 29 | €13,925 | €1,613 | -€12,312 | -88.4% |
| Other amounts receivable | 291 | €13,925 | €1,613 | -€12,312 | -88.4% |
| Amounts receivable within one year | 40/41 | €75,167 | €74,429 | -€738 | -1.0% |
| Trade receivables | 40 | €72,600 | €72,600 | = | 0.0% |
| Other amounts receivable | 41 | €2,567 | €1,829 | -€738 | -28.8% |
| Cash at bank and in hand | 54/58 | €8,736 | €31,658 | +€22,922 | +262.4% |
| Deferred charges and accrued income | 490/1 | €1,995 | €1,388 | -€607 | -30.4% |
| Total equity and liabilities | 10/49 | €104,605 | €109,984 | +€5,379 | +5.1% |
| Equity | 10/15 | €94,980 | €83,154 | -€11,826 | -12.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €88,780 | €76,954 | -€11,826 | -13.3% |
| Distributable reserves | 133 | €88,780 | €76,954 | -€11,826 | -13.3% |
| Amounts payable | 17/49 | €9,626 | €26,830 | +€17,205 | +178.7% |
| Amounts payable within one year | 42/48 | €9,626 | €26,830 | +€17,205 | +178.7% |
| Current portion of amounts payable after more than one year | 42 | €2,803 | - | -€2,803 | |
| Trade debts | 44 | €816 | €3,303 | +€2,487 | +304.8% |
| Suppliers | 440/4 | €816 | €3,303 | +€2,487 | +304.8% |
| Taxes, remuneration and social security | 45 | €6,007 | €16,875 | +€10,868 | +180.9% |
| Taxes | 450/3 | €6,007 | €16,875 | +€10,868 | +180.9% |
| Other amounts payable | 47/48 | - | €6,653 | +€6,653 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,537 | €4,965 | -€1,572 | -24.0% |
| Other operating charges | 640/8 | €513 | €1,175 | +€662 | +129.0% |
| Gross operating margin | 9900 | €45,101 | €36,046 | -€9,055 | -20.1% |
| Operating profit (loss) | 9901 | €38,051 | €29,906 | -€8,145 | -21.4% |
| Financial income | 75/76B | €365 | €194 | -€171 | -46.7% |
| Recurring financial income | 75 | €365 | €194 | -€171 | -46.7% |
| Financial charges | 65/66B | €67 | €169 | +€102 | +152.6% |
| Recurring financial charges | 65 | €67 | €169 | +€102 | +152.6% |
| Profit (loss) for the period before taxes | 9903 | €38,349 | €29,932 | -€8,417 | -21.9% |
| Income taxes | 67/77 | €11,115 | €11,899 | +€785 | +7.1% |
| Profit (loss) for the period | 9904 | €27,234 | €18,033 | -€9,201 | -33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €27,234 | €18,033 | -€9,201 | -33.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.