INDUSER: 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.
INDUSER
Largest movements
- Cash +€30,986
up €30,986 (+127.1%), from €24,386 to €55,372
mainly Net result for the year (+€51,816) and Other debts (+€46,280)
- Receivables within one year +€19,375
up €19,375 (+114.5%), from €16,925 to €36,300
of which Trade receivables: +€19,380
- Tangible fixed assets +€5,312
up €5,312 (+8.9%), from €59,717 to €65,029
- Other debts +€46,280
new in 2025: €46,280
- Reserves +€6,816
up €6,816 (+14.6%), from €46,816 to €53,632
- Tax, wage and social debts +€3,263
up €3,263 (+52.0%), from €6,270 to €9,532
of which Taxes: +€3,670
- Staff costs -€25,605
no longer reported in 2025 (was €25,605)
- Taxes +€8,030
up €8,030 (+140.7%), from €5,709 to €13,739
- Depreciation -€6,655
down €6,655 (-34.3%), from €19,377 to €12,722
- Financial charges -€5,111
down €5,111 (-98.7%), from €5,177 to €66
- Financial income +€2,502
new in 2025: €2,502
of which Financial income: +€2,502
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 | €103,374 | €159,549 | +€56,174 | +54.3% |
| Formation expenses | 20 | €399 | €141 | -€258 | -64.6% |
| Fixed assets | 21/28 | €59,717 | €65,029 | +€5,312 | +8.9% |
| Tangible fixed assets | 22/27 | €59,717 | €65,029 | +€5,312 | +8.9% |
| Furniture and vehicles | 24 | €59,717 | €65,029 | +€5,312 | +8.9% |
| Current assets | 29/58 | €43,258 | €94,379 | +€51,120 | +118.2% |
| Amounts receivable within one year | 40/41 | €16,925 | €36,300 | +€19,375 | +114.5% |
| Trade receivables | 40 | €16,920 | €36,300 | +€19,380 | +114.5% |
| Other amounts receivable | 41 | €4 | - | -€4 | |
| Cash at bank and in hand | 54/58 | €24,386 | €55,372 | +€30,986 | +127.1% |
| Deferred charges and accrued income | 490/1 | €1,947 | €2,707 | +€759 | +39.0% |
| Total equity and liabilities | 10/49 | €103,374 | €159,549 | +€56,174 | +54.3% |
| Equity | 10/15 | €96,816 | €103,632 | +€6,816 | +7.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €46,816 | €53,632 | +€6,816 | +14.6% |
| Distributable reserves | 133 | €46,816 | €53,632 | +€6,816 | +14.6% |
| Amounts payable | 17/49 | €6,559 | €55,917 | +€49,358 | +752.6% |
| Amounts payable within one year | 42/48 | €6,559 | €55,917 | +€49,358 | +752.6% |
| Trade debts | 44 | €289 | €105 | -€184 | -63.8% |
| Suppliers | 440/4 | €289 | €105 | -€184 | -63.8% |
| Taxes, remuneration and social security | 45 | €6,270 | €9,532 | +€3,263 | +52.0% |
| Taxes | 450/3 | €5,862 | €9,532 | +€3,670 | +62.6% |
| Remuneration and social security | 454/9 | €408 | - | -€408 | |
| Other amounts payable | 47/48 | - | €46,280 | +€46,280 | |
| Remuneration, social security and pensions | 62 | €25,605 | - | -€25,605 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,377 | €12,722 | -€6,655 | -34.3% |
| Other operating charges | 640/8 | €999 | €926 | -€72 | -7.2% |
| Non-recurring operating charges | 66A | €1,421 | - | -€1,421 | |
| Gross operating margin | 9900 | €77,925 | €76,768 | -€1,158 | -1.5% |
| Operating profit (loss) | 9901 | €30,523 | €63,119 | +€32,596 | +106.8% |
| Financial income | 75/76B | - | €2,502 | +€2,502 | |
| Recurring financial income | 75 | - | €2,502 | +€2,502 | |
| Non-recurring financial income | 76B | - | €2,502 | +€2,502 | |
| Financial charges | 65/66B | €5,177 | €66 | -€5,111 | -98.7% |
| Recurring financial charges | 65 | €5,177 | €66 | -€5,111 | -98.7% |
| Profit (loss) for the period before taxes | 9903 | €25,346 | €65,555 | +€40,208 | +158.6% |
| Income taxes | 67/77 | €5,709 | €13,739 | +€8,030 | +140.7% |
| Profit (loss) for the period | 9904 | €19,638 | €51,816 | +€32,178 | +163.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,638 | €51,816 | +€32,178 | +163.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.