INDRA: 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.
INDRA
Largest movements
- Cash +€213,525
up €213,525 (+46.8%), from €455,971 to €669,495
mainly Net result for the year (+€206,542) and Trade debts (+€12,453)
- Reserves +€206,542
up €206,542 (+23.2%), from €891,867 to €1.1m
- Trade debts +€12,453
up €12,453 (+596.5%), from €2,088 to €14,540
- Financial income -€21,928
down €21,928 (-10.9%), from €200,697 to €178,769
- Gross operating margin +€16,922
up €16,922 (+30.4%), from €55,729 to €72,651
- Taxes +€4,585
up €4,585 (+13.0%), from €35,332 to €39,917
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 | €1,024,692 | €1,243,211 | +€218,519 | +21.3% |
| Fixed assets | 21/28 | €529,605 | €529,886 | +€281 | +0.1% |
| Tangible fixed assets | 22/27 | €1,605 | €1,886 | +€281 | +17.5% |
| Land and buildings | 22 | €515 | €478 | -€37 | -7.3% |
| Furniture and vehicles | 24 | €1,090 | €1,408 | +€318 | +29.2% |
| Financial fixed assets | 28 | €528,000 | €528,000 | = | 0.0% |
| Current assets | 29/58 | €495,087 | €713,325 | +€218,239 | +44.1% |
| Stocks and contracts in progress | 3 | €5,888 | €6,397 | +€509 | +8.6% |
| Stocks | 30/36 | €5,888 | €6,397 | +€509 | +8.6% |
| Amounts receivable within one year | 40/41 | €33,228 | €37,433 | +€4,205 | +12.7% |
| Trade receivables | 40 | €22,893 | €32,112 | +€9,218 | +40.3% |
| Other amounts receivable | 41 | €10,335 | €5,321 | -€5,014 | -48.5% |
| Cash at bank and in hand | 54/58 | €455,971 | €669,495 | +€213,525 | +46.8% |
| Total equity and liabilities | 10/49 | €1,024,692 | €1,243,211 | +€218,519 | +21.3% |
| Equity | 10/15 | €1,019,093 | €1,225,635 | +€206,542 | +20.3% |
| Contributions | 10/11 | €127,184 | €127,184 | = | 0.0% |
| Reserves | 13 | €891,867 | €1,098,409 | +€206,542 | +23.2% |
| Distributable reserves | 133 | €891,867 | €1,098,409 | +€206,542 | +23.2% |
| Profit (loss) carried forward | 14 | €42 | €42 | = | 0.0% |
| Amounts payable | 17/49 | €5,599 | €17,576 | +€11,977 | +213.9% |
| Amounts payable within one year | 42/48 | €5,599 | €17,576 | +€11,977 | +213.9% |
| Trade debts | 44 | €2,088 | €14,540 | +€12,453 | +596.5% |
| Suppliers | 440/4 | €2,088 | €14,540 | +€12,453 | +596.5% |
| Taxes, remuneration and social security | 45 | €3,482 | €3,036 | -€446 | -12.8% |
| Taxes | 450/3 | €3,482 | €3,036 | -€446 | -12.8% |
| Other amounts payable | 47/48 | €30 | - | -€30 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,910 | €1,197 | -€713 | -37.3% |
| Other operating charges | 640/8 | €806 | €482 | -€323 | -40.1% |
| Gross operating margin | 9900 | €55,729 | €72,651 | +€16,922 | +30.4% |
| Operating profit (loss) | 9901 | €53,013 | €70,971 | +€17,958 | +33.9% |
| Financial income | 75/76B | €200,697 | €178,769 | -€21,928 | -10.9% |
| Recurring financial income | 75 | €200,697 | €178,769 | -€21,928 | -10.9% |
| Financial charges | 65/66B | €3,630 | €3,281 | -€349 | -9.6% |
| Recurring financial charges | 65 | €3,630 | €3,281 | -€349 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €250,081 | €246,459 | -€3,621 | -1.4% |
| Income taxes | 67/77 | €35,332 | €39,917 | +€4,585 | +13.0% |
| Profit (loss) for the period | 9904 | €214,749 | €206,542 | -€8,207 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €214,749 | €206,542 | -€8,207 | -3.8% |
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 6 October 2026 via checked.be.