INDIRO: 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.
INDIRO
Largest movements
- Financial fixed assets +€81,000
new in 2025: €81,000
- Receivables within one year +€8,104
up €8,104 (+40.8%), from €19,858 to €27,961
- Cash -€3,709
down €3,709 (-31.8%), from €11,657 to €7,947
mainly Investment in fixed assets (net) (-€81,000) and Receivables within one year (-€8,104)
- Other debts +€67,750
up €67,750 (+565.5%), from €11,980 to €79,730
- Reserves +€13,651
up €13,651 (+255.7%), from €5,339 to €18,990
- Tax, wage and social debts +€4,620
up €4,620 (+41.0%), from €11,263 to €15,882
- Gross operating margin +€16,906
up €16,906 (+175.6%), from €9,625 to €26,532
- Taxes +€5,158
up €5,158 (+235.2%), from €2,192 to €7,350
- Financial charges +€2,364
up €2,364 (+247.8%), from €954 to €3,317
- Depreciation -€772
down €772 (-81.7%), from €945 to €173
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 | €32,600 | €118,469 | +€85,869 | +263.4% |
| Formation expenses | 20 | €173 | €0 | -€173 | -100.0% |
| Fixed assets | 21/28 | - | €81,000 | +€81,000 | |
| Financial fixed assets | 28 | - | €81,000 | +€81,000 | |
| Current assets | 29/58 | €32,427 | €37,469 | +€5,042 | +15.5% |
| Amounts receivable within one year | 40/41 | €19,858 | €27,961 | +€8,104 | +40.8% |
| Trade receivables | 40 | €19,858 | €27,961 | +€8,104 | +40.8% |
| Cash at bank and in hand | 54/58 | €11,657 | €7,947 | -€3,709 | -31.8% |
| Deferred charges and accrued income | 490/1 | €913 | €1,560 | +€647 | +70.9% |
| Total equity and liabilities | 10/49 | €32,600 | €118,469 | +€85,869 | +263.4% |
| Equity | 10/15 | €8,339 | €21,990 | +€13,651 | +163.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €5,339 | €18,990 | +€13,651 | +255.7% |
| Distributable reserves | 133 | €5,339 | €18,990 | +€13,651 | +255.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €24,260 | €96,479 | +€72,218 | +297.7% |
| Amounts payable within one year | 42/48 | €24,116 | €96,479 | +€72,362 | +300.1% |
| Trade debts | 44 | €873 | €866 | -€7 | -0.8% |
| Suppliers | 440/4 | €873 | €866 | -€7 | -0.8% |
| Taxes, remuneration and social security | 45 | €11,263 | €15,882 | +€4,620 | +41.0% |
| Taxes | 450/3 | €11,263 | €15,882 | +€4,620 | +41.0% |
| Other amounts payable | 47/48 | €11,980 | €79,730 | +€67,750 | +565.5% |
| Accrued charges and deferred income | 492/3 | €144 | €0 | -€144 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €945 | €173 | -€772 | -81.7% |
| Other operating charges | 640/8 | €195 | €376 | +€180 | +92.3% |
| Gross operating margin | 9900 | €9,625 | €26,532 | +€16,906 | +175.6% |
| Operating profit (loss) | 9901 | €8,486 | €25,983 | +€17,498 | +206.2% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €954 | €3,317 | +€2,364 | +247.8% |
| Recurring financial charges | 65 | €954 | €3,317 | +€2,364 | +247.8% |
| Profit (loss) for the period before taxes | 9903 | €7,532 | €22,667 | +€15,135 | +201.0% |
| Income taxes | 67/77 | €2,192 | €7,350 | +€5,158 | +235.2% |
| Profit (loss) for the period | 9904 | €5,339 | €15,317 | +€9,978 | +186.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,339 | €15,317 | +€9,978 | +186.9% |
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 9 October 2026 via checked.be.