INDIE: 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.
INDIE
Largest movements
- Tangible fixed assets -€5,493
down €5,493 (-19.3%), from €28,472 to €22,979
of which Other tangible fixed assets: -€5,493
- Stocks and contracts -€4,213
down €4,213 (-3.4%), from €122,355 to €118,142
- Intangible fixed assets -€2,460
down €2,460 (-30.4%), from €8,101 to €5,641
- Profit (loss) carried forward -€12,114
down €12,114 (-26.7%), from €45,321 to €33,207
- Tax, wage and social debts -€7,367
down €7,367 (-38.8%), from €19,010 to €11,642
of which Taxes: -€9,667
- Trade debts +€5,959
up €5,959 (+19.1%), from €31,142 to €37,100
- Short-term financial debts +€3,820
up €3,820 (+1859.0%), from €205 to €4,026
- Debts after one year -€3,111
down €3,111 (-14.1%), from €22,121 to €19,010
- Depreciation -€4,071
down €4,071 (-33.9%), from €12,024 to €7,953
- Gross operating margin +€1,310
up €1,310 (+85.1%), from €1,540 to €2,850
- Other operating charges +€1,048
up €1,048 (+137.3%), from €763 to €1,812
- Financial charges +€506
up €506 (+10.8%), from €4,668 to €5,175
- Financial income +€74
up €74 (+31.7%), from €235 to €309
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 | €190,340 | €180,517 | -€9,823 | -5.2% |
| Fixed assets | 21/28 | €36,953 | €29,000 | -€7,953 | -21.5% |
| Intangible fixed assets | 21 | €8,101 | €5,641 | -€2,460 | -30.4% |
| Tangible fixed assets | 22/27 | €28,472 | €22,979 | -€5,493 | -19.3% |
| Furniture and vehicles | 24 | €502 | €502 | = | 0.0% |
| Other tangible fixed assets | 26 | €27,970 | €22,477 | -€5,493 | -19.6% |
| Financial fixed assets | 28 | €380 | €380 | = | 0.0% |
| Current assets | 29/58 | €153,387 | €151,518 | -€1,870 | -1.2% |
| Stocks and contracts in progress | 3 | €122,355 | €118,142 | -€4,213 | -3.4% |
| Stocks | 30/36 | €122,355 | €118,142 | -€4,213 | -3.4% |
| Amounts receivable within one year | 40/41 | €24,294 | €25,749 | +€1,455 | +6.0% |
| Trade receivables | 40 | €18,504 | €15,601 | -€2,903 | -15.7% |
| Other amounts receivable | 41 | €5,790 | €10,147 | +€4,357 | +75.3% |
| Cash at bank and in hand | 54/58 | €552 | €1,586 | +€1,034 | +187.3% |
| Deferred charges and accrued income | 490/1 | €6,187 | €6,041 | -€145 | -2.3% |
| Total equity and liabilities | 10/49 | €190,340 | €180,517 | -€9,823 | -5.2% |
| Equity | 10/15 | €107,618 | €95,504 | -€12,114 | -11.3% |
| Contributions | 10/11 | €56,100 | €56,100 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,321 | €33,207 | -€12,114 | -26.7% |
| Amounts payable | 17/49 | €82,722 | €85,013 | +€2,291 | +2.8% |
| Amounts payable after more than one year | 17 | €22,121 | €19,010 | -€3,111 | -14.1% |
| Financial debts | 170/4 | €22,121 | €19,010 | -€3,111 | -14.1% |
| Amounts payable within one year | 42/48 | €60,601 | €66,003 | +€5,402 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €10,134 | €11,323 | +€1,189 | +11.7% |
| Financial debts | 43 | €205 | €4,026 | +€3,820 | +1859.0% |
| Credit institutions | 430/8 | €205 | €4,026 | +€3,820 | +1859.0% |
| Trade debts | 44 | €31,142 | €37,100 | +€5,959 | +19.1% |
| Suppliers | 440/4 | €31,142 | €37,100 | +€5,959 | +19.1% |
| Taxes, remuneration and social security | 45 | €19,010 | €11,642 | -€7,367 | -38.8% |
| Taxes | 450/3 | €19,010 | €9,342 | -€9,667 | -50.9% |
| Remuneration and social security | 454/9 | - | €2,300 | +€2,300 | |
| Other amounts payable | 47/48 | €110 | €1,912 | +€1,801 | +1633.7% |
| Remuneration, social security and pensions | 62 | €120 | €99 | -€21 | -17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,024 | €7,953 | -€4,071 | -33.9% |
| Other operating charges | 640/8 | €763 | €1,812 | +€1,048 | +137.3% |
| Gross operating margin | 9900 | €1,540 | €2,850 | +€1,310 | +85.1% |
| Operating profit (loss) | 9901 | -€11,368 | -€7,014 | +€4,354 | +38.3% |
| Financial income | 75/76B | €235 | €309 | +€74 | +31.7% |
| Recurring financial income | 75 | €235 | €309 | +€74 | +31.7% |
| Financial charges | 65/66B | €4,668 | €5,175 | +€506 | +10.8% |
| Recurring financial charges | 65 | €4,668 | €5,175 | +€506 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | -€15,802 | -€11,880 | +€3,922 | +24.8% |
| Income taxes | 67/77 | €232 | €234 | +€2 | +1.0% |
| Profit (loss) for the period | 9904 | -€16,034 | -€12,114 | +€3,920 | +24.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,034 | -€12,114 | +€3,920 | +24.4% |
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 12 October 2026 via checked.be.