INDUFIN: 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.
INDUFIN
Largest movements
- Cash -€13,908
down €13,908 (-78.2%), from €17,792 to €3,885
mainly Net result for the year (-€13,350) and Trade debts (-€936)
- Profit (loss) carried forward -€13,350
down €13,350 (-7.1%), from €187,194 to €173,844
- Gross operating margin +€2,332
up €2,332 (+20.9%), from -€11,173 to -€8,842
- Financial charges -€469
down €469 (-10.3%), from €4,578 to €4,109
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 | €518,307 | €504,244 | -€14,063 | -2.7% |
| Current assets | 29/58 | €518,307 | €504,244 | -€14,063 | -2.7% |
| Amounts receivable within one year | 40/41 | €456 | €1,236 | +€781 | +171.3% |
| Trade receivables | 40 | - | €16 | +€16 | |
| Other amounts receivable | 41 | €456 | €1,221 | +€765 | +167.8% |
| Current investments | 50/53 | €499,124 | €499,123 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €17,792 | €3,885 | -€13,908 | -78.2% |
| Deferred charges and accrued income | 490/1 | €936 | €0 | -€936 | -100.0% |
| Total equity and liabilities | 10/49 | €518,307 | €504,244 | -€14,063 | -2.7% |
| Equity | 10/15 | €302,678 | €289,328 | -€13,350 | -4.4% |
| Contributions | 10/11 | €104,985 | €104,985 | = | 0.0% |
| Capital | 10 | €104,985 | €104,985 | = | 0.0% |
| Issued capital | 100 | €104,985 | €104,985 | = | 0.0% |
| Reserves | 13 | €10,499 | €10,499 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,499 | €10,499 | = | 0.0% |
| Legal reserve | 130 | €10,499 | €10,499 | = | 0.0% |
| Profit (loss) carried forward | 14 | €187,194 | €173,844 | -€13,350 | -7.1% |
| Provisions and deferred taxes | 16 | €214,694 | €214,694 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €214,694 | €214,694 | = | 0.0% |
| Other liabilities and charges | 164/5 | €214,694 | €214,694 | = | 0.0% |
| Amounts payable | 17/49 | €936 | €223 | -€713 | -76.2% |
| Amounts payable within one year | 42/48 | €936 | €216 | -€721 | -77.0% |
| Financial debts | 43 | - | €216 | +€216 | |
| Credit institutions | 430/8 | - | €216 | +€216 | |
| Trade debts | 44 | €936 | €0 | -€936 | -100.0% |
| Suppliers | 440/4 | €936 | €0 | -€936 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €7 | +€7 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€11,173 | -€8,842 | +€2,332 | +20.9% |
| Operating profit (loss) | 9901 | -€11,561 | -€9,241 | +€2,319 | +20.1% |
| Financial charges | 65/66B | €4,578 | €4,109 | -€469 | -10.3% |
| Recurring financial charges | 65 | €4,578 | €4,109 | -€469 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | -€16,139 | -€13,350 | +€2,789 | +17.3% |
| Profit (loss) for the period | 9904 | -€16,139 | -€13,350 | +€2,789 | +17.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,139 | -€13,350 | +€2,789 | +17.3% |
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 7 October 2026 via checked.be.