INDU: 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.
What changed
INDU
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€98,888
2024 · €347,223-€248,335
Equity
€8.5m
2024 · €8.4m+€98,888
Cash
€335,631
2024 · €130,307+€205,324
Balance sheet total
€11.7m
2024 · €11.6m+€91,220
Largest movements
Assets
- Cash +€205,324
up €205,324 (+157.6%), from €130,307 to €335,631
mainly Net result for the year (+€98,888) and Receivables within one year (+€82,616)
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Write-downs +€384,480
new in 2025: €384,480
- Taxes -€84,330
down €84,330 (-71.5%), from €117,976 to €33,645
- Turnover +€33,763
up €33,763 (+5.4%), from €624,034 to €657,798
- Services and other goods -€10,697
down €10,697 (-10.9%), from €97,757 to €87,060
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
€347,223
Turnover
+€33,763
Other operating income
+€2,149
Services and other goods
+€10,697
Depreciation
+€269
Write-downs
-€384,480
Other operating charges
-€72
Financial income
+€5,122
Financial charges
-€114
Taxes
+€84,330
Result 2025
€98,888
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
+€208,918
Investment
-€3,594
Financing
€0
Cash 2024
€130,307
From operations (derived)
+€208,918
Net result for the year
+€98,888
Depreciation
+€79,816
Receivables after one year
-€35,960
Receivables within one year
+€82,616
Deferred charges and accrued income
-€8,774
Trade debts
-€771
Tax, wage and social debts
-€12,560
Other debts
-€1,260
Accrued charges and deferred income
+€6,923
Investment (derived)
-€3,594
Investment in fixed assets (net)
-€3,594
Cash 2025
€335,631
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,599,938 | €11,691,158 | +€91,220 | +0.8% |
| Fixed assets | 21/28 | €10,496,925 | €10,420,703 | -€76,222 | -0.7% |
| Tangible fixed assets | 22/27 | €496,925 | €420,703 | -€76,222 | -15.3% |
| Plant, machinery and equipment | 23 | €496,466 | €420,703 | -€75,762 | -15.3% |
| Furniture and vehicles | 24 | €460 | - | -€460 | |
| Financial fixed assets | 28 | €10,000,000 | €10,000,000 | = | 0.0% |
| Affiliated companies | 280/1 | €10,000,000 | €10,000,000 | = | 0.0% |
| Participating interests | 280 | €10,000,000 | €10,000,000 | = | 0.0% |
| Current assets | 29/58 | €1,103,012 | €1,270,454 | +€167,442 | +15.2% |
| Amounts receivable after more than one year | 29 | €87,188 | €123,148 | +€35,960 | +41.2% |
| Other amounts receivable | 291 | €87,188 | €123,148 | +€35,960 | +41.2% |
| Amounts receivable within one year | 40/41 | €268,136 | €185,520 | -€82,616 | -30.8% |
| Trade receivables | 40 | €237,404 | €99,006 | -€138,398 | -58.3% |
| Other amounts receivable | 41 | €30,732 | €86,514 | +€55,782 | +181.5% |
| Current investments | 50/53 | €607,875 | €607,875 | = | 0.0% |
| Other investments | 51/53 | €607,875 | €607,875 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €130,307 | €335,631 | +€205,324 | +157.6% |
| Deferred charges and accrued income | 490/1 | €9,507 | €18,281 | +€8,774 | +92.3% |
| Total equity and liabilities | 10/49 | €11,599,938 | €11,691,158 | +€91,220 | +0.8% |
| Equity | 10/15 | €8,404,835 | €8,503,724 | +€98,888 | +1.2% |
| Contributions | 10/11 | €2,760,000 | €2,760,000 | = | 0.0% |
| Capital | 10 | €2,760,000 | €2,760,000 | = | 0.0% |
| Issued capital | 100 | €2,760,000 | €2,760,000 | = | 0.0% |
| Reserves | 13 | €5,644,835 | €5,743,724 | +€98,888 | +1.8% |
| Non-distributable reserves | 130/1 | €461,300 | €461,300 | = | 0.0% |
| Legal reserve | 130 | €461,300 | €461,300 | = | 0.0% |
| Distributable reserves | 133 | €5,183,535 | €5,282,424 | +€98,888 | +1.9% |
| Amounts payable | 17/49 | €3,195,102 | €3,187,434 | -€7,668 | -0.2% |
| Amounts payable within one year | 42/48 | €3,190,670 | €3,176,080 | -€14,591 | -0.5% |
| Trade debts | 44 | €2,717 | €1,946 | -€771 | -28.4% |
| Suppliers | 440/4 | €2,717 | €1,946 | -€771 | -28.4% |
| Taxes, remuneration and social security | 45 | €18,010 | €5,450 | -€12,560 | -69.7% |
| Taxes | 450/3 | €18,010 | €5,450 | -€12,560 | -69.7% |
| Other amounts payable | 47/48 | €3,169,943 | €3,168,683 | -€1,260 | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,432 | €11,355 | +€6,923 | +156.2% |
| Operating income | 70/76A | €642,875 | €678,788 | +€35,912 | +5.6% |
| Turnover | 70 | €624,034 | €657,798 | +€33,763 | +5.4% |
| Other operating income | 74 | €18,841 | €20,990 | +€2,149 | +11.4% |
| Operating charges | 60/66A | €179,965 | €553,551 | +€373,585 | +207.6% |
| Services and other goods | 61 | €97,757 | €87,060 | -€10,697 | -10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,085 | €79,816 | -€269 | -0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €384,480 | +€384,480 | |
| Other operating charges | 640/8 | €2,123 | €2,195 | +€72 | +3.4% |
| Operating profit (loss) | 9901 | €462,910 | €125,237 | -€337,673 | -72.9% |
| Financial income | 75/76B | €2,542 | €7,663 | +€5,122 | +201.5% |
| Recurring financial income | 75 | €2,542 | €7,663 | +€5,122 | +201.5% |
| Income from current assets | 751 | €2,542 | €7,663 | +€5,122 | +201.5% |
| Financial charges | 65/66B | €253 | €367 | +€114 | +44.9% |
| Recurring financial charges | 65 | €253 | €367 | +€114 | +44.9% |
| Other financial charges | 652/9 | €253 | €367 | +€114 | +44.9% |
| Profit (loss) for the period before taxes | 9903 | €465,198 | €132,533 | -€332,665 | -71.5% |
| Income taxes | 67/77 | €117,976 | €33,645 | -€84,330 | -71.5% |
| Taxes | 670/3 | €117,976 | €33,645 | -€84,330 | -71.5% |
| Profit (loss) for the period | 9904 | €347,223 | €98,888 | -€248,335 | -71.5% |
| Profit (loss) for the period to be appropriated | 9905 | €347,223 | €98,888 | -€248,335 | -71.5% |
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 2 October 2026 via checked.be.