INDUPACK: 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.
What changed
INDUPACK
NACE 22.220, Manufacture of rubber and plastic products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€924,981
2024 · €1.1m-€172,157
Equity
€7.8m
2024 · €7.3m+€491,317
Cash
€412,150
2024 · €444,215-€32,065
Balance sheet total
€13.1m
2024 · €9.3m+€3.8m
Largest movements
Assets
- Stocks and contracts +€4.3m
up €4.3m (+113.1%), from €3.8m to €8.2m
- Tangible fixed assets -€460,232
down €460,232 (-35.0%), from €1.3m to €854,925
of which Plant, machinery and equipment: -€298,583
- Receivables within one year +€443,581
up €443,581 (+16.7%), from €2.7m to €3.1m
of which Trade receivables: +€1.2m
- Deferred charges and accrued income -€393,475
down €393,475 (-80.1%), from €491,098 to €97,623
Equity and liabilities
- Short-term financial debts +€3.6m
up €3.6m, from €0 to €3.6m
- Reserves +€491,317
up €491,317 (+6.7%), from €7.3m to €7.8m
of which Distributable reserves: +€491,317
- Other debts -€454,461
down €454,461 (-40.7%), from €1.1m to €661,844
- Trade debts +€297,303
up €297,303 (+60.2%), from €493,749 to €791,052
- Current portion of long-term debt -€242,618
down €242,618 (-96.7%), from €250,796 to €8,178
Income statement
- Turnover +€16.4m
new in 2025: €16.4m
- Goods and materials +€12.5m
new in 2025: €12.5m
of which Purchases: +€16.8m
- Services and other goods +€2.3m
new in 2025: €2.3m
- Gross operating margin -€2.2m
no longer reported in 2025 (was €2.2m)
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
€1.1m
Turnover
+€16.4m
Other operating income
+€48,039
Goods and materials
-€12.5m
Services and other goods
-€2.3m
Staff costs
-€68,440
Depreciation
+€127,092
Write-downs
-€6,016
Other operating charges
-€363
Other operating items
-€1.8m
Financial income
-€25,981
Financial charges
-€53,254
Taxes
-€56,549
Result 2025
€924,981
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.
From operations
-€3.3m
Investment
+€302,859
Financing
+€3.0m
Cash 2024
€444,215
From operations (derived)
-€3.3m
Net result for the year
+€924,981
Depreciation
+€221,806
Stocks and contracts
-€4.3m
Receivables within one year
-€443,581
Deferred charges and accrued income
+€393,475
Trade debts
+€297,303
Tax, wage and social debts
+€101,152
Other debts
-€454,461
Investment (derived)
+€302,859
Investment in fixed assets (net)
+€252,477
Current investments
+€50,382
Financing
+€3.0m
Debts after one year
+€33,732
Current portion of long-term debt
-€242,618
Short-term financial debts
+€3.6m
Contributions, distributions and other
-€433,664
Cash 2025
€412,150
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,321,205 | €13,147,630 | +€3.8m | +41.1% |
| Fixed assets | 21/28 | €1,339,761 | €865,479 | -€474,282 | -35.4% |
| Intangible fixed assets | 21 | €24,604 | €10,553 | -€14,050 | -57.1% |
| Tangible fixed assets | 22/27 | €1,315,157 | €854,925 | -€460,232 | -35.0% |
| Land and buildings | 22 | €612,494 | €448,632 | -€163,863 | -26.8% |
| Plant, machinery and equipment | 23 | €456,291 | €157,707 | -€298,583 | -65.4% |
| Furniture and vehicles | 24 | €170,086 | €157,085 | -€13,001 | -7.6% |
| Other tangible fixed assets | 26 | €76,286 | €91,501 | +€15,215 | +19.9% |
| Current assets | 29/58 | €7,981,444 | €12,282,152 | +€4.3m | +53.9% |
| Stocks and contracts in progress | 3 | €3,830,490 | €8,163,539 | +€4.3m | +113.1% |
| Stocks | 30/36 | €3,830,490 | €8,163,539 | +€4.3m | +113.1% |
| Goods purchased for resale | 34 | - | €8,163,539 | +€8.2m | |
| Amounts receivable within one year | 40/41 | €2,660,283 | €3,103,864 | +€443,581 | +16.7% |
| Trade receivables | 40 | €619,354 | €1,775,664 | +€1.2m | +186.7% |
| Other amounts receivable | 41 | €2,040,929 | €1,328,200 | -€712,729 | -34.9% |
| Current investments | 50/53 | €555,357 | €504,975 | -€50,382 | -9.1% |
| Other investments | 51/53 | - | €504,975 | +€504,975 | |
| Cash at bank and in hand | 54/58 | €444,215 | €412,150 | -€32,065 | -7.2% |
| Deferred charges and accrued income | 490/1 | €491,098 | €97,623 | -€393,475 | -80.1% |
| Total equity and liabilities | 10/49 | €9,321,205 | €13,147,630 | +€3.8m | +41.1% |
| Equity | 10/15 | €7,303,537 | €7,794,854 | +€491,317 | +6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,284,937 | €7,776,254 | +€491,317 | +6.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €343,115 | €343,115 | = | 0.0% |
| Distributable reserves | 133 | €6,941,822 | €7,433,139 | +€491,317 | +7.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €2,017,667 | €5,352,776 | +€3.3m | +165.3% |
| Amounts payable after more than one year | 17 | - | €33,732 | +€33,732 | |
| Financial debts | 170/4 | - | €33,732 | +€33,732 | |
| Credit institutions | 173 | - | €33,732 | +€33,732 | |
| Amounts payable within one year | 42/48 | €2,017,667 | €5,319,044 | +€3.3m | +163.6% |
| Current portion of amounts payable after more than one year | 42 | €250,796 | €8,178 | -€242,618 | -96.7% |
| Financial debts | 43 | €0 | €3,600,000 | +€3.6m | |
| Credit institutions | 430/8 | €0 | €3,600,000 | +€3.6m | |
| Trade debts | 44 | €493,749 | €791,052 | +€297,303 | +60.2% |
| Suppliers | 440/4 | €493,749 | €791,052 | +€297,303 | +60.2% |
| Taxes, remuneration and social security | 45 | €156,817 | €257,969 | +€101,152 | +64.5% |
| Taxes | 450/3 | €69,851 | €173,026 | +€103,175 | +147.7% |
| Remuneration and social security | 454/9 | €86,966 | €84,944 | -€2,023 | -2.3% |
| Other amounts payable | 47/48 | €1,116,305 | €661,844 | -€454,461 | -40.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Operating income | 70/76A | - | €18,416,799 | +€18.4m | |
| Turnover | 70 | - | €16,408,819 | +€16.4m | |
| Other operating income | 74 | - | €48,039 | +€48,039 | |
| Non-recurring operating income | 76A | - | €1,959,940 | +€2.0m | |
| Operating charges | 60/66A | - | €17,361,923 | +€17.4m | |
| Goods for resale, raw materials and consumables | 60 | - | €12,467,645 | +€12.5m | |
| Purchases | 600/8 | - | €16,800,695 | +€16.8m | |
| Change in stocks: decrease (increase) | 609 | - | -€4,333,049 | -€4.3m | |
| Services and other goods | 61 | - | €2,276,815 | +€2.3m | |
| Remuneration, social security and pensions | 62 | €752,496 | €820,936 | +€68,440 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €348,898 | €221,806 | -€127,092 | -36.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €564 | €6,580 | +€6,016 | +1066.7% |
| Other operating charges | 640/8 | €11,152 | €11,515 | +€363 | +3.3% |
| Non-recurring operating charges | 66A | - | €1,556,626 | +€1.6m | |
| Gross operating margin | 9900 | €2,204,360 | - | -€2.2m | |
| Operating profit (loss) | 9901 | €1,091,250 | €1,054,876 | -€36,374 | -3.3% |
| Financial income | 75/76B | €141,532 | €115,551 | -€25,981 | -18.4% |
| Recurring financial income | 75 | €141,532 | €115,551 | -€25,981 | -18.4% |
| Income from financial fixed assets | 750 | - | €525 | +€525 | |
| Income from current assets | 751 | - | €63,331 | +€63,331 | |
| Other financial income | 752/9 | - | €51,696 | +€51,696 | |
| Financial charges | 65/66B | €15,008 | €68,261 | +€53,254 | +354.8% |
| Recurring financial charges | 65 | €15,008 | €68,261 | +€53,254 | +354.8% |
| Debt charges | 650 | - | €63,044 | +€63,044 | |
| Other financial charges | 652/9 | - | €5,217 | +€5,217 | |
| Profit (loss) for the period before taxes | 9903 | €1,217,774 | €1,102,166 | -€115,608 | -9.5% |
| Income taxes | 67/77 | €120,636 | €177,185 | +€56,549 | +46.9% |
| Taxes | 670/3 | - | €177,185 | +€177,185 | |
| Profit (loss) for the period | 9904 | €1,097,138 | €924,981 | -€172,157 | -15.7% |
| Transfer to tax-exempt reserves | 689 | €343,115 | €0 | -€343,115 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €754,023 | €924,981 | +€170,958 | +22.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.