IndueTech: 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.
IndueTech
Largest movements
- Cash +€42,612
up €42,612 (+51.2%), from €83,211 to €125,822
mainly Net result for the year (+€126,763) and Depreciation (+€6,003)
- Tangible fixed assets -€6,003
down €6,003 (-61.3%), from €9,792 to €3,789
of which Furniture and vehicles: -€5,377
- Receivables within one year -€4,528
down €4,528 (-18.9%), from €23,919 to €19,391
of which Other amounts receivable: -€3,593
- Reserves +€46,763
up €46,763 (+55.1%), from €84,819 to €131,582
- Tax, wage and social debts -€8,051
down €8,051 (-64.5%), from €12,479 to €4,428
- Trade debts -€3,718
down €3,718 (-39.2%), from €9,483 to €5,765
- Debts after one year -€3,677
no longer reported in 2025 (was €3,677)
- Other debts +€2,062
new in 2025: €2,062
- Gross operating margin +€56,084
up €56,084 (+49.3%), from €113,870 to €169,954
- Taxes +€14,258
up €14,258 (+64.6%), from €22,085 to €36,343
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 | €117,791 | €150,014 | +€32,223 | +27.4% |
| Fixed assets | 21/28 | €9,792 | €3,789 | -€6,003 | -61.3% |
| Tangible fixed assets | 22/27 | €9,792 | €3,789 | -€6,003 | -61.3% |
| Plant, machinery and equipment | 23 | €900 | €274 | -€625 | -69.5% |
| Furniture and vehicles | 24 | €8,892 | €3,515 | -€5,377 | -60.5% |
| Current assets | 29/58 | €107,999 | €146,225 | +€38,226 | +35.4% |
| Amounts receivable within one year | 40/41 | €23,919 | €19,391 | -€4,528 | -18.9% |
| Trade receivables | 40 | €19,942 | €19,006 | -€936 | -4.7% |
| Other amounts receivable | 41 | €3,978 | €385 | -€3,593 | -90.3% |
| Cash at bank and in hand | 54/58 | €83,211 | €125,822 | +€42,612 | +51.2% |
| Deferred charges and accrued income | 490/1 | €869 | €1,012 | +€143 | +16.4% |
| Total equity and liabilities | 10/49 | €117,791 | €150,014 | +€32,223 | +27.4% |
| Equity | 10/15 | €87,319 | €134,082 | +€46,763 | +53.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €84,819 | €131,582 | +€46,763 | +55.1% |
| Distributable reserves | 133 | €84,819 | €131,582 | +€46,763 | +55.1% |
| Amounts payable | 17/49 | €30,472 | €15,932 | -€14,540 | -47.7% |
| Amounts payable after more than one year | 17 | €3,677 | - | -€3,677 | |
| Financial debts | 170/4 | €3,677 | - | -€3,677 | |
| Amounts payable within one year | 42/48 | €26,795 | €15,932 | -€10,862 | -40.5% |
| Current portion of amounts payable after more than one year | 42 | €4,833 | €3,677 | -€1,155 | -23.9% |
| Trade debts | 44 | €9,483 | €5,765 | -€3,718 | -39.2% |
| Suppliers | 440/4 | €9,483 | €5,765 | -€3,718 | -39.2% |
| Taxes, remuneration and social security | 45 | €12,479 | €4,428 | -€8,051 | -64.5% |
| Taxes | 450/3 | €12,479 | €4,428 | -€8,051 | -64.5% |
| Other amounts payable | 47/48 | - | €2,062 | +€2,062 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,074 | €6,003 | -€72 | -1.2% |
| Other operating charges | 640/8 | €560 | €577 | +€18 | +3.1% |
| Gross operating margin | 9900 | €113,870 | €169,954 | +€56,084 | +49.3% |
| Operating profit (loss) | 9901 | €107,235 | €163,374 | +€56,138 | +52.4% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €332 | €267 | -€65 | -19.6% |
| Recurring financial charges | 65 | €332 | €267 | -€65 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €106,904 | €163,106 | +€56,202 | +52.6% |
| Income taxes | 67/77 | €22,085 | €36,343 | +€14,258 | +64.6% |
| Profit (loss) for the period | 9904 | €84,819 | €126,763 | +€41,944 | +49.5% |
| Profit (loss) for the period to be appropriated | 9905 | €84,819 | €126,763 | +€41,944 | +49.5% |
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 8 October 2026 via checked.be.