INDUMESS: 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.
INDUMESS
Largest movements
- Receivables within one year +€71,737
up €71,737 (+38.7%), from €185,510 to €257,247
of which Trade receivables: +€59,493
- Tangible fixed assets -€46,222
down €46,222 (-9.8%), from €470,686 to €424,464
of which Plant, machinery and equipment: -€41,747
- Cash +€27,804
up €27,804 (+105%), from €26,382 to €54,186
mainly Depreciation (+€155,847) and Trade debts (+€76,035)
- Trade debts +€76,035
up €76,035 (+87.2%), from €87,166 to €163,201
- Current portion of long-term debt -€56,827
down €56,827 (-38.2%), from €148,946 to €92,120
- Tax, wage and social debts +€56,050
up €56,050 (+91.8%), from €61,078 to €117,127
of which Remuneration and social security: +€54,363
- Short-term financial debts -€30,469
down €30,469 (-16.9%), from €180,469 to €150,000
- Other debts +€27,729
up €27,729 (+90.0%), from €30,827 to €58,556
- Depreciation -€31,724
down €31,724 (-16.9%), from €187,571 to €155,847
- Gross operating margin -€29,418
down €29,418 (-3.7%), from €804,476 to €775,058
- Staff costs +€24,377
up €24,377 (+4.6%), from €527,158 to €551,535
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.
Derived cash bridge
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 | €1,315,003 | €1,367,986 | +€52,983 | +4.0% |
| Fixed assets | 21/28 | €470,686 | €433,675 | -€37,010 | -7.9% |
| Intangible fixed assets | 21 | - | €9,212 | +€9,212 | |
| Tangible fixed assets | 22/27 | €470,686 | €424,464 | -€46,222 | -9.8% |
| Land and buildings | 22 | €202,111 | €177,786 | -€24,324 | -12.0% |
| Plant, machinery and equipment | 23 | €130,814 | €89,067 | -€41,747 | -31.9% |
| Furniture and vehicles | 24 | €10,736 | €22,989 | +€12,253 | +114% |
| Leasing and similar rights | 25 | €127,026 | €134,622 | +€7,596 | +6.0% |
| Current assets | 29/58 | €844,318 | €934,311 | +€89,993 | +10.7% |
| Stocks and contracts in progress | 3 | €612,970 | €602,970 | -€10,000 | -1.6% |
| Stocks | 30/36 | €612,970 | €602,970 | -€10,000 | -1.6% |
| Amounts receivable within one year | 40/41 | €185,510 | €257,247 | +€71,737 | +38.7% |
| Trade receivables | 40 | €175,468 | €234,961 | +€59,493 | +33.9% |
| Other amounts receivable | 41 | €10,042 | €22,286 | +€12,244 | +122% |
| Cash at bank and in hand | 54/58 | €26,382 | €54,186 | +€27,804 | +105% |
| Deferred charges and accrued income | 490/1 | €19,457 | €19,908 | +€451 | +2.3% |
| Total equity and liabilities | 10/49 | €1,315,003 | €1,367,986 | +€52,983 | +4.0% |
| Equity | 10/15 | €684,630 | €676,033 | -€8,596 | -1.3% |
| Contributions | 10/11 | €36,000 | €36,000 | = | 0.0% |
| Reserves | 13 | €648,630 | €640,033 | -€8,596 | -1.3% |
| Distributable reserves | 133 | €648,630 | €640,033 | -€8,596 | -1.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €630,374 | €691,953 | +€61,579 | +9.8% |
| Amounts payable after more than one year | 17 | €117,057 | €103,343 | -€13,714 | -11.7% |
| Financial debts | 170/4 | €117,057 | €103,343 | -€13,714 | -11.7% |
| Amounts payable within one year | 42/48 | €508,487 | €581,004 | +€72,518 | +14.3% |
| Current portion of amounts payable after more than one year | 42 | €148,946 | €92,120 | -€56,827 | -38.2% |
| Financial debts | 43 | €180,469 | €150,000 | -€30,469 | -16.9% |
| Credit institutions | 430/8 | €180,469 | €150,000 | -€30,469 | -16.9% |
| Trade debts | 44 | €87,166 | €163,201 | +€76,035 | +87.2% |
| Suppliers | 440/4 | €87,166 | €163,201 | +€76,035 | +87.2% |
| Taxes, remuneration and social security | 45 | €61,078 | €117,127 | +€56,050 | +91.8% |
| Taxes | 450/3 | €20,981 | €22,668 | +€1,687 | +8.0% |
| Remuneration and social security | 454/9 | €40,097 | €94,460 | +€54,363 | +136% |
| Other amounts payable | 47/48 | €30,827 | €58,556 | +€27,729 | +90.0% |
| Accrued charges and deferred income | 492/3 | €4,830 | €7,606 | +€2,776 | +57.5% |
| Remuneration, social security and pensions | 62 | €527,158 | €551,535 | +€24,377 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €187,571 | €155,847 | -€31,724 | -16.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,527 | €1,940 | +€413 | +27.1% |
| Other operating charges | 640/8 | €9,232 | €9,170 | -€62 | -0.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €804,476 | €775,058 | -€29,418 | -3.7% |
| Operating profit (loss) | 9901 | €78,988 | €56,566 | -€22,423 | -28.4% |
| Financial income | 75/76B | €27 | €4 | -€24 | -86.4% |
| Recurring financial income | 75 | €27 | €4 | -€24 | -86.4% |
| Financial charges | 65/66B | €34,713 | €30,367 | -€4,345 | -12.5% |
| Recurring financial charges | 65 | €34,713 | €30,367 | -€4,345 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €44,303 | €26,202 | -€18,101 | -40.9% |
| Income taxes | 67/77 | €15,031 | €8,499 | -€6,532 | -43.5% |
| Profit (loss) for the period | 9904 | €29,272 | €17,703 | -€11,569 | -39.5% |
| Profit (loss) for the period to be appropriated | 9905 | €29,272 | €17,703 | -€11,569 | -39.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.