INDINOX: 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.
What changed
INDINOX
NACE 28.990, Manufacture of machinery and equipment not elsewhere classified
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€986,141
2024 · €1.9m-€898,014
Equity
€1.2m
2024 · €1.1m+€86,141
Cash
€5.7m
2024 · €2.7m+€3.0m
Balance sheet total
€15.0m
2024 · €12.3m+€2.7m
Largest movements
Assets
- Cash +€3.0m
up €3.0m (+114.3%), from €2.7m to €5.7m
mainly Advances received (+€2.7m) and Receivables within one year (+€1.6m)
- Receivables within one year -€1.6m
down €1.6m (-18.3%), from €8.9m to €7.3m
of which Other amounts receivable: -€908,458
- Stocks and contracts +€872,848
up €872,848 (+436.4%), from €200,028 to €1.1m
of which Contracts in progress: +€872,848
- Tangible fixed assets +€337,968
up €337,968 (+64.6%), from €523,328 to €861,296
of which Furniture and vehicles: +€342,768
Equity and liabilities
- Advances received +€2.7m
up €2.7m (+59.1%), from €4.6m to €7.4m
- Other debts -€900,000
down €900,000 (-50.0%), from €1.8m to €900,000
- Trade debts +€679,519
up €679,519 (+16.6%), from €4.1m to €4.8m
Income statement
- Goods and materials +€2.0m
up €2.0m (+14.6%), from €13.6m to €15.6m
- Turnover +€1.8m
up €1.8m (+8.2%), from €22.4m to €24.2m
- Services and other goods +€1.3m
up €1.3m (+49.7%), from €2.7m to €4.1m
- Staff costs +€592,259
up €592,259 (+17.8%), from €3.3m to €3.9m
- Taxes -€275,093
down €275,093 (-41.6%), from €660,583 to €385,490
of which Taxes: -€303,325
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.
Result 2024
€1.9m
Turnover
+€1.8m
Other operating income
-€13,812
Goods and materials
-€2.0m
Services and other goods
-€1.3m
Staff costs
-€592,259
Depreciation
-€66,474
Write-downs
-€26,538
Other operating charges
-€13,428
Other operating items
+€1.1m
Financial income
+€12,653
Financial charges
-€8,092
Taxes
+€275,093
Result 2025
€986,141
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.
From operations
+€4.5m
Investment
-€570,458
Financing
-€900,000
Cash 2024
€2.7m
From operations (derived)
+€4.5m
Net result for the year
+€986,141
Depreciation
+€209,778
Stocks and contracts
-€872,848
Receivables within one year
+€1.6m
Deferred charges and accrued income
-€33,523
Trade debts
+€679,519
Tax, wage and social debts
+€79,185
Advances received
+€2.7m
Other debts
-€900,000
Investment (derived)
-€570,458
Investment in fixed assets (net)
-€570,458
Financing
-€900,000
Contributions, distributions and other
-€900,000
Cash 2025
€5.7m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,310,805 | €14,992,319 | +€2.7m | +21.8% |
| Fixed assets | 21/28 | €523,328 | €884,009 | +€360,680 | +68.9% |
| Tangible fixed assets | 22/27 | €523,328 | €861,296 | +€337,968 | +64.6% |
| Plant, machinery and equipment | 23 | €9,555 | €4,755 | -€4,800 | -50.2% |
| Furniture and vehicles | 24 | €513,773 | €856,541 | +€342,768 | +66.7% |
| Financial fixed assets | 28 | - | €22,713 | +€22,713 | |
| Other financial fixed assets | 284/8 | - | €22,713 | +€22,713 | |
| Amounts receivable and cash guarantees | 285/8 | - | €22,713 | +€22,713 | |
| Current assets | 29/58 | €11,787,477 | €14,108,310 | +€2.3m | +19.7% |
| Stocks and contracts in progress | 3 | €200,028 | €1,072,875 | +€872,848 | +436.4% |
| Stocks | 30/36 | €25,000 | €25,000 | = | 0.0% |
| Raw materials and consumables | 30/31 | €25,000 | €25,000 | = | 0.0% |
| Contracts in progress | 37 | €175,028 | €1,047,875 | +€872,848 | +498.7% |
| Amounts receivable within one year | 40/41 | €8,921,898 | €7,290,027 | -€1.6m | -18.3% |
| Trade receivables | 40 | €7,229,126 | €6,505,713 | -€723,413 | -10.0% |
| Other amounts receivable | 41 | €1,692,773 | €784,314 | -€908,458 | -53.7% |
| Cash at bank and in hand | 54/58 | €2,665,550 | €5,711,885 | +€3.0m | +114.3% |
| Deferred charges and accrued income | 490/1 | - | €33,523 | +€33,523 | |
| Total equity and liabilities | 10/49 | €12,310,805 | €14,992,319 | +€2.7m | +21.8% |
| Equity | 10/15 | €1,120,200 | €1,206,341 | +€86,141 | +7.7% |
| Contributions | 10/11 | €450,000 | €450,000 | = | 0.0% |
| Capital | 10 | €450,000 | €450,000 | = | 0.0% |
| Issued capital | 100 | €450,000 | €450,000 | = | 0.0% |
| Reserves | 13 | €670,200 | €756,341 | +€86,141 | +12.9% |
| Non-distributable reserves | 130/1 | €45,000 | €45,000 | = | 0.0% |
| Legal reserve | 130 | €45,000 | €45,000 | = | 0.0% |
| Distributable reserves | 133 | €625,200 | €711,341 | +€86,141 | +13.8% |
| Amounts payable | 17/49 | €11,190,605 | €13,785,978 | +€2.6m | +23.2% |
| Amounts payable within one year | 42/48 | €11,190,605 | €13,785,978 | +€2.6m | +23.2% |
| Trade debts | 44 | €4,105,258 | €4,784,777 | +€679,519 | +16.6% |
| Suppliers | 440/4 | €4,105,258 | €4,784,777 | +€679,519 | +16.6% |
| Advances received on contracts in progress | 46 | €4,634,494 | €7,371,163 | +€2.7m | +59.1% |
| Taxes, remuneration and social security | 45 | €650,853 | €730,038 | +€79,185 | +12.2% |
| Taxes | 450/3 | €259,114 | €224,141 | -€34,973 | -13.5% |
| Remuneration and social security | 454/9 | €391,739 | €505,897 | +€114,158 | +29.1% |
| Other amounts payable | 47/48 | €1,800,000 | €900,000 | -€900,000 | -50.0% |
| Operating income | 70/76A | €22,379,985 | €25,251,330 | +€2.9m | +12.8% |
| Turnover | 70 | €22,380,013 | €24,205,265 | +€1.8m | +8.2% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€186,707 | €872,848 | +€1.1m | |
| Other operating income | 74 | €186,679 | €172,867 | -€13,812 | -7.4% |
| Non-recurring operating income | 76A | €0 | €350 | +€350 | |
| Operating charges | 60/66A | €19,841,055 | €23,890,067 | +€4.0m | +20.4% |
| Goods for resale, raw materials and consumables | 60 | €13,645,335 | €15,638,691 | +€2.0m | +14.6% |
| Purchases | 600/8 | €13,645,335 | €15,638,691 | +€2.0m | +14.6% |
| Services and other goods | 61 | €2,712,639 | €4,061,724 | +€1.3m | +49.7% |
| Remuneration, social security and pensions | 62 | €3,324,562 | €3,916,821 | +€592,259 | +17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,305 | €209,778 | +€66,474 | +46.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €26,538 | +€26,538 | |
| Other operating charges | 640/8 | €15,215 | €28,643 | +€13,428 | +88.3% |
| Non-recurring operating charges | 66A | - | €7,872 | +€7,872 | |
| Operating profit (loss) | 9901 | €2,538,931 | €1,361,263 | -€1.2m | -46.4% |
| Financial income | 75/76B | €15,439 | €28,092 | +€12,653 | +82.0% |
| Recurring financial income | 75 | €15,439 | €28,092 | +€12,653 | +82.0% |
| Income from current assets | 751 | €13,773 | €28,092 | +€14,319 | +104.0% |
| Other financial income | 752/9 | €1,666 | €0 | -€1,666 | -100.0% |
| Financial charges | 65/66B | €9,632 | €17,724 | +€8,092 | +84.0% |
| Recurring financial charges | 65 | €9,632 | €17,724 | +€8,092 | +84.0% |
| Debt charges | 650 | €676 | €0 | -€676 | -100.0% |
| Other financial charges | 652/9 | €8,956 | €17,724 | +€8,768 | +97.9% |
| Profit (loss) for the period before taxes | 9903 | €2,544,738 | €1,371,631 | -€1.2m | -46.1% |
| Income taxes | 67/77 | €660,583 | €385,490 | -€275,093 | -41.6% |
| Taxes | 670/3 | €688,815 | €385,490 | -€303,325 | -44.0% |
| Tax adjustments and reversals of tax provisions | 77 | €28,232 | €0 | -€28,232 | -100.0% |
| Profit (loss) for the period | 9904 | €1,884,155 | €986,141 | -€898,014 | -47.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,884,155 | €986,141 | -€898,014 | -47.7% |
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.