INDUMET: 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.
What changed
INDUMET
NACE 46.820, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€189,631
2024 · €1.4m-€1.2m
Equity
€9.1m
2024 · €8.9m+€186,060
Cash
€750,451
2024 · €271,001+€479,450
Balance sheet total
€12.7m
2024 · €13.0m-€322,010
Largest movements
Assets
- Receivables within one year -€2.3m
down €2.3m (-48.3%), from €4.8m to €2.5m
of which Trade receivables: -€2.1m
- Stocks and contracts +€1.6m
up €1.6m (+22.7%), from €7.2m to €8.9m
- Cash +€479,450
up €479,450 (+177%), from €271,001 to €750,451
mainly Receivables within one year (+€2.3m) and Tax, wage and social debts (+€230,389)
Equity and liabilities
- Short-term financial debts -€900,000
no longer reported in 2025 (was €900,000)
- Tax, wage and social debts +€230,389
up €230,389 (+105%), from €219,133 to €449,522
of which Remuneration and social security: +€230,009
- Profit (loss) carried forward +€189,631
up €189,631 (+48.1%), from €394,039 to €583,670
Income statement
- Turnover -€14.4m
down €14.4m (-45.0%), from €32.1m to €17.7m
- Goods and materials -€12.4m
down €12.4m (-45.3%), from €27.4m to €15.0m
of which Change in stocks: decrease (increase): -€6.9m
- Financial charges -€689,351
down €689,351 (-91.5%), from €753,593 to €64,242
of which Non-recurring financial charges: -€450,000
- Taxes -€343,918
down €343,918 (-82.3%), from €417,756 to €73,838
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
€1.4m
Turnover
-€14.4m
Other operating income
-€42,239
Goods and materials
+€12.4m
Services and other goods
-€146,470
Staff costs
-€26,055
Depreciation
+€33,413
Other operating charges
-€3,801
Other operating items
+€2,034
Financial income
+€3,676
Financial charges
+€689,351
Taxes
+€343,918
Result 2025
€189,631
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.4m
Investment
-€9,720
Financing
-€903,571
Cash 2024
€271,001
From operations (derived)
+€1.4m
Net result for the year
+€189,631
Depreciation
+€127,016
Stocks and contracts
-€1.6m
Receivables within one year
+€2.3m
Smaller working-capital items
+€1,387
Trade debts
+€91,638
Tax, wage and social debts
+€230,389
Advances received
+€68,588
Investment (derived)
-€9,720
Investment in fixed assets (net)
-€9,720
Financing
-€903,571
Short-term financial debts
-€900,000
Contributions, distributions and other
-€3,571
Cash 2025
€750,451
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,987,950 | €12,665,940 | -€322,010 | -2.5% |
| Fixed assets | 21/28 | €689,734 | €572,438 | -€117,296 | -17.0% |
| Tangible fixed assets | 22/27 | €689,584 | €572,288 | -€117,296 | -17.0% |
| Land and buildings | 22 | €515,758 | €471,346 | -€44,412 | -8.6% |
| Plant, machinery and equipment | 23 | €159,906 | €91,949 | -€67,957 | -42.5% |
| Furniture and vehicles | 24 | €13,920 | €8,993 | -€4,927 | -35.4% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Other financial fixed assets | 284/8 | €150 | €150 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €12,298,216 | €12,093,502 | -€204,714 | -1.7% |
| Stocks and contracts in progress | 3 | €7,215,174 | €8,856,184 | +€1.6m | +22.7% |
| Stocks | 30/36 | €7,215,174 | €8,856,184 | +€1.6m | +22.7% |
| Goods purchased for resale | 34 | €7,215,174 | €8,856,184 | +€1.6m | +22.7% |
| Amounts receivable within one year | 40/41 | €4,811,363 | €2,486,261 | -€2.3m | -48.3% |
| Trade receivables | 40 | €4,521,941 | €2,396,380 | -€2.1m | -47.0% |
| Other amounts receivable | 41 | €289,422 | €89,881 | -€199,541 | -68.9% |
| Cash at bank and in hand | 54/58 | €271,001 | €750,451 | +€479,450 | +177% |
| Deferred charges and accrued income | 490/1 | €678 | €606 | -€72 | -10.6% |
| Total equity and liabilities | 10/49 | €12,987,950 | €12,665,940 | -€322,010 | -2.5% |
| Equity | 10/15 | €8,911,925 | €9,097,985 | +€186,060 | +2.1% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Capital | 10 | €2,000,000 | €2,000,000 | = | 0.0% |
| Issued capital | 100 | €2,000,000 | €2,000,000 | = | 0.0% |
| Reserves | 13 | €6,504,093 | €6,504,093 | = | 0.0% |
| Non-distributable reserves | 130/1 | €200,000 | €200,000 | = | 0.0% |
| Legal reserve | 130 | €200,000 | €200,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,093 | €4,093 | = | 0.0% |
| Distributable reserves | 133 | €6,300,000 | €6,300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €394,039 | €583,670 | +€189,631 | +48.1% |
| Investment grants | 15 | €13,793 | €10,222 | -€3,571 | -25.9% |
| Amounts payable | 17/49 | €4,076,025 | €3,567,955 | -€508,070 | -12.5% |
| Amounts payable after more than one year | 17 | €1,000,000 | €1,000,000 | = | 0.0% |
| Financial debts | 170/4 | €1,000,000 | €1,000,000 | = | 0.0% |
| Other loans | 174 | €1,000,000 | €1,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,027,841 | €2,518,456 | -€509,385 | -16.8% |
| Financial debts | 43 | €900,000 | - | -€900,000 | |
| Credit institutions | 430/8 | €900,000 | - | -€900,000 | |
| Trade debts | 44 | €1,894,861 | €1,986,499 | +€91,638 | +4.8% |
| Suppliers | 440/4 | €1,894,861 | €1,986,499 | +€91,638 | +4.8% |
| Advances received on contracts in progress | 46 | €13,847 | €82,435 | +€68,588 | +495% |
| Taxes, remuneration and social security | 45 | €219,133 | €449,522 | +€230,389 | +105% |
| Taxes | 450/3 | €11,273 | €11,653 | +€380 | +3.4% |
| Remuneration and social security | 454/9 | €207,860 | €437,869 | +€230,009 | +111% |
| Accrued charges and deferred income | 492/3 | €48,184 | €49,499 | +€1,315 | +2.7% |
| Operating income | 70/76A | €32,220,124 | €17,742,710 | -€14.5m | -44.9% |
| Turnover | 70 | €32,097,819 | €17,660,610 | -€14.4m | -45.0% |
| Other operating income | 74 | €122,305 | €80,066 | -€42,239 | -34.5% |
| Non-recurring operating income | 76A | - | €2,034 | +€2,034 | |
| Operating charges | 60/66A | €29,672,813 | €17,423,434 | -€12.2m | -41.3% |
| Goods for resale, raw materials and consumables | 60 | €27,378,929 | €14,986,637 | -€12.4m | -45.3% |
| Purchases | 600/8 | €22,090,635 | €16,627,647 | -€5.5m | -24.7% |
| Change in stocks: decrease (increase) | 609 | €5,288,294 | -€1,641,010 | -€6.9m | |
| Services and other goods | 61 | €886,613 | €1,033,083 | +€146,470 | +16.5% |
| Remuneration, social security and pensions | 62 | €1,166,620 | €1,192,675 | +€26,055 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €160,429 | €127,016 | -€33,413 | -20.8% |
| Other operating charges | 640/8 | €80,222 | €84,023 | +€3,801 | +4.7% |
| Operating profit (loss) | 9901 | €2,547,311 | €319,276 | -€2.2m | -87.5% |
| Financial income | 75/76B | €4,759 | €8,435 | +€3,676 | +77.2% |
| Recurring financial income | 75 | €4,759 | €8,435 | +€3,676 | +77.2% |
| Other financial income | 752/9 | €4,759 | €8,435 | +€3,676 | +77.2% |
| Financial charges | 65/66B | €753,593 | €64,242 | -€689,351 | -91.5% |
| Recurring financial charges | 65 | €303,593 | €64,242 | -€239,351 | -78.8% |
| Debt charges | 650 | €279,323 | €40,865 | -€238,458 | -85.4% |
| Other financial charges | 652/9 | €24,270 | €23,377 | -€893 | -3.7% |
| Non-recurring financial charges | 66B | €450,000 | - | -€450,000 | |
| Profit (loss) for the period before taxes | 9903 | €1,798,477 | €263,469 | -€1.5m | -85.4% |
| Income taxes | 67/77 | €417,756 | €73,838 | -€343,918 | -82.3% |
| Taxes | 670/3 | €417,756 | €73,838 | -€343,918 | -82.3% |
| Profit (loss) for the period | 9904 | €1,380,721 | €189,631 | -€1.2m | -86.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,380,721 | €189,631 | -€1.2m | -86.3% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.