INDIKON: 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.
INDIKON
Largest movements
- Current investments +€3.4m
up €3.4m (+23.2%), from €14.5m to €17.9m
- Receivables within one year -€3.0m
down €3.0m (-95.8%), from €3.1m to €130,155
- Cash +€570,882
up €570,882 (+9.6%), from €5.9m to €6.5m
mainly Receivables within one year (+€3.0m) and Investment in fixed assets (net) (+€534,419)
- Financial fixed assets -€534,419
down €534,419 (-2.8%), from €18.8m to €18.3m
No liability line moved by more than 1% of the balance sheet total.
- Taxes -€131,058
down €131,058 (-82.8%), from €158,259 to €27,201
- Financial charges +€67,922
up €67,922 (+58.8%), from €115,509 to €183,431
- Financial income -€21,158
down €21,158 (-3.2%), from €660,756 to €639,599
- Other operating charges +€5,759
up €5,759 (+29.4%), from €19,595 to €25,354
- Gross operating margin -€487
down €487 (-6.5%), from -€7,435 to -€7,922
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 | €42,402,862 | €42,809,596 | +€406,735 | +1.0% |
| Fixed assets | 21/28 | €18,828,912 | €18,294,494 | -€534,419 | -2.8% |
| Financial fixed assets | 28 | €18,828,912 | €18,294,494 | -€534,419 | -2.8% |
| Current assets | 29/58 | €23,573,949 | €24,515,102 | +€941,153 | +4.0% |
| Amounts receivable within one year | 40/41 | €3,113,535 | €130,155 | -€3.0m | -95.8% |
| Other amounts receivable | 41 | €3,113,535 | €130,155 | -€3.0m | -95.8% |
| Current investments | 50/53 | €14,499,751 | €17,864,392 | +€3.4m | +23.2% |
| Cash at bank and in hand | 54/58 | €5,946,011 | €6,516,893 | +€570,882 | +9.6% |
| Deferred charges and accrued income | 490/1 | €14,653 | €3,662 | -€10,991 | -75.0% |
| Total equity and liabilities | 10/49 | €42,402,862 | €42,809,596 | +€406,735 | +1.0% |
| Equity | 10/15 | €42,396,268 | €42,791,959 | +€395,692 | +0.9% |
| Contributions | 10/11 | €8,489,807 | €8,489,807 | = | 0.0% |
| Reserves | 13 | €14,021,215 | €14,021,215 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,497,242 | €11,497,242 | = | 0.0% |
| Distributable reserves | 133 | €2,523,973 | €2,523,973 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,885,245 | €20,280,937 | +€395,692 | +2.0% |
| Amounts payable | 17/49 | €6,594 | €17,637 | +€11,043 | +167.5% |
| Amounts payable within one year | 42/48 | €1,422 | €5,990 | +€4,569 | +321.3% |
| Trade debts | 44 | €1,422 | €2,874 | +€1,452 | +102.1% |
| Suppliers | 440/4 | €1,422 | €2,874 | +€1,452 | +102.1% |
| Other amounts payable | 47/48 | - | €3,117 | +€3,117 | |
| Accrued charges and deferred income | 492/3 | €5,172 | €11,646 | +€6,474 | +125.2% |
| Other operating charges | 640/8 | €19,595 | €25,354 | +€5,759 | +29.4% |
| Gross operating margin | 9900 | -€7,435 | -€7,922 | -€487 | -6.5% |
| Operating profit (loss) | 9901 | -€27,030 | -€33,276 | -€6,246 | -23.1% |
| Financial income | 75/76B | €660,756 | €639,599 | -€21,158 | -3.2% |
| Recurring financial income | 75 | €660,756 | €639,599 | -€21,158 | -3.2% |
| Financial charges | 65/66B | €115,509 | €183,431 | +€67,922 | +58.8% |
| Recurring financial charges | 65 | €115,509 | €183,431 | +€67,922 | +58.8% |
| Profit (loss) for the period before taxes | 9903 | €518,218 | €422,892 | -€95,325 | -18.4% |
| Income taxes | 67/77 | €158,259 | €27,201 | -€131,058 | -82.8% |
| Profit (loss) for the period | 9904 | €359,959 | €395,692 | +€35,733 | +9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €359,959 | €395,692 | +€35,733 | +9.9% |
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 1 October 2026 via checked.be.