Indumed: what changed
Two financial 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.
Indumed
Largest movements
- Stocks and contracts -€183,315
down €183,315 (-95.4%), from €192,075 to €8,760
- Tangible fixed assets -€95,867
down €95,867 (-6.0%), from €1.6m to €1.5m
of which Furniture and vehicles: -€50,324
- Cash +€44,970
up €44,970 (+53.2%), from €84,561 to €129,531
mainly Stocks and contracts (+€183,315) and Depreciation (+€103,417)
- Current investments -€42,122
down €42,122 (-51.5%), from €81,762 to €39,640
- Debts after one year -€282,519
down €282,519 (-23.5%), from €1.2m to €919,176
of which Financial debts: -€281,819
- Other debts +€25,606
up €25,606 (+14.9%), from €171,650 to €197,255
- Depreciation -€23,317
down €23,317 (-18.4%), from €126,734 to €103,417
- Financial charges +€9,422
up €9,422 (+17.6%), from €53,560 to €62,982
of which Financial charges: +€20,972
- Other operating charges +€4,749
up €4,749 (+110.2%), from €4,310 to €9,059
- Taxes +€3,817
up €3,817 (+170.9%), from €2,234 to €6,051
- Gross operating margin +€3,089
up €3,089 (+1.3%), from €246,575 to €249,664
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 | €2,088,912 | €1,801,887 | -€287,026 | -13.7% |
| Fixed assets | 21/28 | €1,610,221 | €1,513,897 | -€96,324 | -6.0% |
| Intangible fixed assets | 21 | €458 | €0 | -€458 | -100.0% |
| Tangible fixed assets | 22/27 | €1,609,594 | €1,513,727 | -€95,867 | -6.0% |
| Land and buildings | 22 | €1,421,899 | €1,380,270 | -€41,629 | -2.9% |
| Plant, machinery and equipment | 23 | €38,918 | €36,517 | -€2,401 | -6.2% |
| Furniture and vehicles | 24 | €142,592 | €92,268 | -€50,324 | -35.3% |
| Other tangible fixed assets | 26 | €6,185 | €4,672 | -€1,513 | -24.5% |
| Financial fixed assets | 28 | €170 | €170 | = | 0.0% |
| Current assets | 29/58 | €478,691 | €287,990 | -€190,701 | -39.8% |
| Stocks and contracts in progress | 3 | €192,075 | €8,760 | -€183,315 | -95.4% |
| Stocks | 30/36 | €192,075 | €8,760 | -€183,315 | -95.4% |
| Amounts receivable within one year | 40/41 | €96,897 | €90,846 | -€6,050 | -6.2% |
| Trade receivables | 40 | €78,918 | €90,846 | +€11,929 | +15.1% |
| Other amounts receivable | 41 | €17,979 | - | -€17,979 | |
| Current investments | 50/53 | €81,762 | €39,640 | -€42,122 | -51.5% |
| Cash at bank and in hand | 54/58 | €84,561 | €129,531 | +€44,970 | +53.2% |
| Deferred charges and accrued income | 490/1 | €23,397 | €19,213 | -€4,184 | -17.9% |
| Total equity and liabilities | 10/49 | €2,088,912 | €1,801,887 | -€287,026 | -13.7% |
| Equity | 10/15 | €540,237 | €521,344 | -€18,893 | -3.5% |
| Contributions | 10/11 | €94,600 | €94,600 | = | 0.0% |
| Reserves | 13 | €445,637 | €426,744 | -€18,893 | -4.2% |
| Non-distributable reserves | 130/1 | €9,460 | €9,460 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,460 | €9,460 | = | 0.0% |
| Distributable reserves | 133 | €436,177 | €417,284 | -€18,893 | -4.3% |
| Amounts payable | 17/49 | €1,548,675 | €1,280,542 | -€268,133 | -17.3% |
| Amounts payable after more than one year | 17 | €1,201,695 | €919,176 | -€282,519 | -23.5% |
| Financial debts | 170/4 | €1,196,915 | €915,096 | -€281,819 | -23.5% |
| Other amounts payable | 178/9 | €4,780 | €4,080 | -€700 | -14.6% |
| Amounts payable within one year | 42/48 | €337,120 | €347,482 | +€10,362 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €112,077 | €93,759 | -€18,318 | -16.3% |
| Trade debts | 44 | €43,573 | €44,638 | +€1,065 | +2.4% |
| Suppliers | 440/4 | €43,573 | €44,638 | +€1,065 | +2.4% |
| Taxes, remuneration and social security | 45 | €9,821 | €11,831 | +€2,010 | +20.5% |
| Taxes | 450/3 | €4,809 | €4,841 | +€32 | +0.7% |
| Remuneration and social security | 454/9 | €5,012 | €6,990 | +€1,978 | +39.5% |
| Other amounts payable | 47/48 | €171,650 | €197,255 | +€25,606 | +14.9% |
| Accrued charges and deferred income | 492/3 | €9,860 | €13,884 | +€4,024 | +40.8% |
| Remuneration, social security and pensions | 62 | €69,856 | €68,254 | -€1,601 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,734 | €103,417 | -€23,317 | -18.4% |
| Other operating charges | 640/8 | €4,310 | €9,059 | +€4,749 | +110.2% |
| Gross operating margin | 9900 | €246,575 | €249,664 | +€3,089 | +1.3% |
| Operating profit (loss) | 9901 | €45,675 | €68,933 | +€23,258 | +50.9% |
| Financial income | 75/76B | €10,723 | €8,407 | -€2,315 | -21.6% |
| Recurring financial income | 75 | €723 | €529 | -€194 | -26.8% |
| Non-recurring financial income | 76B | €10,000 | €7,878 | -€2,122 | -21.2% |
| Financial charges | 65/66B | €53,560 | €62,982 | +€9,422 | +17.6% |
| Recurring financial charges | 65 | €42,010 | €62,982 | +€20,972 | +49.9% |
| Non-recurring financial charges | 66B | €11,551 | - | -€11,551 | |
| Profit (loss) for the period before taxes | 9903 | €2,837 | €14,358 | +€11,521 | +406.1% |
| Income taxes | 67/77 | €2,234 | €6,051 | +€3,817 | +170.9% |
| Profit (loss) for the period | 9904 | €604 | €8,307 | +€7,704 | +1276.3% |
| Profit (loss) for the period to be appropriated | 9905 | €604 | €8,307 | +€7,704 | +1276.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.