Indrani: 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.
Indrani
Largest movements
- Cash -€92,440
down €92,440 (-83.4%), from €110,779 to €18,339
mainly Net result for the year (-€144,780) and Investment in fixed assets (net) (-€62,974)
- Receivables within one year -€41,169
down €41,169 (-66.3%), from €62,068 to €20,899
- Tangible fixed assets -€9,840
down €9,840 (-2.7%), from €366,590 to €356,750
of which Land and buildings: -€9,475
- Reserves -€144,780
down €144,780 (-30.9%), from €468,811 to €324,031
of which Distributable reserves: -€144,780
- Debts after one year +€10,310
up €10,310 (+7.8%), from €132,973 to €143,283
- Gross operating margin -€412,450
down €412,450, from €361,897 to -€50,553
- Depreciation -€64,653
down €64,653 (-47.0%), from €137,467 to €72,814
- Taxes -€39,244
down €39,244 (-100.0%), from €39,244 to €0
- Other operating charges -€16,850
down €16,850 (-49.0%), from €34,362 to €17,512
- Financial income +€4,836
up €4,836 (+272.5%), from €1,775 to €6,611
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 | €706,254 | €567,827 | -€138,428 | -19.6% |
| Fixed assets | 21/28 | €366,590 | €356,750 | -€9,840 | -2.7% |
| Tangible fixed assets | 22/27 | €366,590 | €356,750 | -€9,840 | -2.7% |
| Land and buildings | 22 | €366,104 | €356,628 | -€9,475 | -2.6% |
| Furniture and vehicles | 24 | €486 | €122 | -€365 | -75.0% |
| Current assets | 29/58 | €339,664 | €211,077 | -€128,588 | -37.9% |
| Stocks and contracts in progress | 3 | €2,312 | €2,312 | = | 0.0% |
| Stocks | 30/36 | €2,312 | €2,312 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €62,068 | €20,899 | -€41,169 | -66.3% |
| Other amounts receivable | 41 | €62,068 | €20,899 | -€41,169 | -66.3% |
| Current investments | 50/53 | €160,000 | €165,043 | +€5,043 | +3.2% |
| Cash at bank and in hand | 54/58 | €110,779 | €18,339 | -€92,440 | -83.4% |
| Deferred charges and accrued income | 490/1 | €4,506 | €4,484 | -€22 | -0.5% |
| Total equity and liabilities | 10/49 | €706,254 | €567,827 | -€138,428 | -19.6% |
| Equity | 10/15 | €556,788 | €412,008 | -€144,780 | -26.0% |
| Contributions | 10/11 | €87,977 | €87,977 | = | 0.0% |
| Reserves | 13 | €468,811 | €324,031 | -€144,780 | -30.9% |
| Non-distributable reserves | 130/1 | €17,288 | €17,288 | = | 0.0% |
| Reserves not available under the articles | 1311 | €17,288 | €17,288 | = | 0.0% |
| Distributable reserves | 133 | €451,523 | €306,743 | -€144,780 | -32.1% |
| Amounts payable | 17/49 | €149,466 | €155,819 | +€6,353 | +4.3% |
| Amounts payable after more than one year | 17 | €132,973 | €143,283 | +€10,310 | +7.8% |
| Other amounts payable | 178/9 | €132,973 | €143,283 | +€10,310 | +7.8% |
| Amounts payable within one year | 42/48 | €1,231 | €1,699 | +€468 | +38.0% |
| Trade debts | 44 | €20 | €1,699 | +€1,679 | +8395.4% |
| Suppliers | 440/4 | €20 | €1,699 | +€1,679 | +8395.4% |
| Taxes, remuneration and social security | 45 | €1,211 | €0 | -€1,211 | -100.0% |
| Taxes | 450/3 | €1,211 | €0 | -€1,211 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €15,261 | €10,837 | -€4,425 | -29.0% |
| Non-recurring operating income | 76A | - | €138 | +€138 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,467 | €72,814 | -€64,653 | -47.0% |
| Other operating charges | 640/8 | €34,362 | €17,512 | -€16,850 | -49.0% |
| Gross operating margin | 9900 | €361,897 | -€50,553 | -€412,450 | |
| Operating profit (loss) | 9901 | €190,069 | -€140,879 | -€330,947 | |
| Financial income | 75/76B | €1,775 | €6,611 | +€4,836 | +272.5% |
| Recurring financial income | 75 | €1,775 | €6,611 | +€4,836 | +272.5% |
| Financial charges | 65/66B | €14,868 | €10,513 | -€4,355 | -29.3% |
| Recurring financial charges | 65 | €14,868 | €10,513 | -€4,355 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €176,976 | -€144,780 | -€321,756 | |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €39,244 | €0 | -€39,244 | -100.0% |
| Profit (loss) for the period | 9904 | €137,732 | -€144,780 | -€282,512 | |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €137,732 | -€144,780 | -€282,512 |
Source: filed annual accounts (NBB), fiscal years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.