INDUSAFE: 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.
INDUSAFE
Largest movements
- Receivables within one year +€60,571
up €60,571 (+61.5%), from €98,516 to €159,087
of which Trade receivables: +€64,432
- Stocks and contracts +€14,681
up €14,681 (+59.3%), from €24,752 to €39,433
- Tangible fixed assets -€12,606
down €12,606 (-35.0%), from €36,048 to €23,442
of which Furniture and vehicles: -€13,291
- Cash -€7,540
down €7,540 (-95.9%), from €7,864 to €325
mainly Receivables within one year (-€60,571) and Stocks and contracts (-€14,681)
- Trade debts +€39,273
up €39,273 (+52.8%), from €74,417 to €113,690
- Reserves +€22,948
up €22,948 (+43.0%), from €53,360 to €76,309
- Debts after one year -€11,883
down €11,883 (-85.5%), from €13,891 to €2,008
- Short-term financial debts +€2,796
new in 2025: €2,796
- Gross operating margin +€67,655
up €67,655 (+237%), from €28,558 to €96,213
- Staff costs +€41,632
new in 2025: €41,632
- Taxes +€6,619
up €6,619 (+183%), from €3,625 to €10,244
- Financial income -€3,918
down €3,918 (-97.1%), from €4,033 to €115
- Financial charges -€2,151
down €2,151 (-60.4%), from €3,559 to €1,408
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 | €172,734 | €226,525 | +€53,790 | +31.1% |
| Fixed assets | 21/28 | €36,718 | €24,112 | -€12,606 | -34.3% |
| Tangible fixed assets | 22/27 | €36,048 | €23,442 | -€12,606 | -35.0% |
| Plant, machinery and equipment | 23 | €4,621 | €5,306 | +€685 | +14.8% |
| Furniture and vehicles | 24 | €31,427 | €18,136 | -€13,291 | -42.3% |
| Financial fixed assets | 28 | €670 | €670 | = | 0.0% |
| Current assets | 29/58 | €136,017 | €202,413 | +€66,396 | +48.8% |
| Stocks and contracts in progress | 3 | €24,752 | €39,433 | +€14,681 | +59.3% |
| Stocks | 30/36 | €24,752 | €39,433 | +€14,681 | +59.3% |
| Amounts receivable within one year | 40/41 | €98,516 | €159,087 | +€60,571 | +61.5% |
| Trade receivables | 40 | €89,101 | €153,533 | +€64,432 | +72.3% |
| Other amounts receivable | 41 | €9,416 | €5,555 | -€3,861 | -41.0% |
| Cash at bank and in hand | 54/58 | €7,864 | €325 | -€7,540 | -95.9% |
| Deferred charges and accrued income | 490/1 | €4,884 | €3,568 | -€1,316 | -26.9% |
| Total equity and liabilities | 10/49 | €172,734 | €226,525 | +€53,790 | +31.1% |
| Equity | 10/15 | €71,960 | €94,909 | +€22,948 | +31.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €53,360 | €76,309 | +€22,948 | +43.0% |
| Distributable reserves | 133 | €53,360 | €76,309 | +€22,948 | +43.0% |
| Amounts payable | 17/49 | €100,774 | €131,616 | +€30,842 | +30.6% |
| Amounts payable after more than one year | 17 | €13,891 | €2,008 | -€11,883 | -85.5% |
| Financial debts | 170/4 | €13,891 | €2,008 | -€11,883 | -85.5% |
| Amounts payable within one year | 42/48 | €86,883 | €129,609 | +€42,726 | +49.2% |
| Current portion of amounts payable after more than one year | 42 | €11,612 | €11,883 | +€271 | +2.3% |
| Financial debts | 43 | - | €2,796 | +€2,796 | |
| Credit institutions | 430/8 | - | €2,796 | +€2,796 | |
| Trade debts | 44 | €74,417 | €113,690 | +€39,273 | +52.8% |
| Suppliers | 440/4 | €74,417 | €113,690 | +€39,273 | +52.8% |
| Taxes, remuneration and social security | 45 | - | €1,239 | +€1,239 | |
| Remuneration and social security | 454/9 | - | €1,239 | +€1,239 | |
| Other amounts payable | 47/48 | €854 | - | -€854 | |
| Remuneration, social security and pensions | 62 | - | €41,632 | +€41,632 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,686 | €15,623 | +€937 | +6.4% |
| Other operating charges | 640/8 | €1,393 | €1,315 | -€78 | -5.6% |
| Non-recurring operating charges | 66A | €174 | - | -€174 | |
| Gross operating margin | 9900 | €28,558 | €96,213 | +€67,655 | +237% |
| Operating profit (loss) | 9901 | €12,306 | €37,643 | +€25,336 | +206% |
| Financial income | 75/76B | €4,033 | €115 | -€3,918 | -97.1% |
| Recurring financial income | 75 | €4,033 | €115 | -€3,918 | -97.1% |
| Financial charges | 65/66B | €3,559 | €1,408 | -€2,151 | -60.4% |
| Recurring financial charges | 65 | €3,559 | €1,408 | -€2,151 | -60.4% |
| Profit (loss) for the period before taxes | 9903 | €12,780 | €36,350 | +€23,570 | +184% |
| Income taxes | 67/77 | €3,625 | €10,244 | +€6,619 | +183% |
| Profit (loss) for the period | 9904 | €9,156 | €26,106 | +€16,950 | +185% |
| Profit (loss) for the period to be appropriated | 9905 | €9,156 | €26,106 | +€16,950 | +185% |
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 13 October 2026 via checked.be.