INDUSSE: 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.
INDUSSE
Largest movements
- Receivables within one year +€706,118
up €706,118 (+4326.5%), from €16,321 to €722,439
of which Trade receivables: +€687,650
- Intangible fixed assets +€328,000
new in 2025: €328,000
- Cash +€263,581
up €263,581 (+333.4%), from €79,055 to €342,636
mainly Short-term financial debts (+€489,968) and Debts after one year (+€283,664)
- Tangible fixed assets +€107,206
up €107,206 (+150.9%), from €71,032 to €178,238
of which Leasing and similar rights: +€80,207
- Stocks and contracts +€57,345
up €57,345 (+1055.8%), from €5,432 to €62,776
of which Contracts in progress: +€32,954
- Short-term financial debts +€489,968
new in 2025: €489,968
- Debts after one year +€283,664
up €283,664 (+605.8%), from €46,827 to €330,491
of which Other amounts payable: +€248,302
- Trade debts +€261,003
up €261,003 (+1407.2%), from €18,547 to €279,550
- Tax, wage and social debts +€220,176
up €220,176 (+1077.5%), from €20,435 to €240,611
of which Remuneration and social security: +€181,448
- Reserves +€147,350
up €147,350 (+736.8%), from €20,000 to €167,350
of which Tax-exempt reserves: +€147,350
- Gross operating margin +€2.0m
up €2.0m (+2284.6%), from €89,180 to €2.1m
- Staff costs +€1.6m
up €1.6m (+3055.0%), from €52,385 to €1.7m
- Depreciation +€135,793
up €135,793 (+420.8%), from €32,272 to €168,065
- Taxes +€68,367
up €68,367 (+10747.3%), from €636 to €69,003
- Financial charges +€49,237
up €49,237 (+1444.5%), from €3,409 to €52,646
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 | €176,841 | €1,688,049 | +€1.5m | +854.6% |
| Fixed assets | 21/28 | €71,032 | €506,238 | +€435,206 | +612.7% |
| Intangible fixed assets | 21 | - | €328,000 | +€328,000 | |
| Tangible fixed assets | 22/27 | €71,032 | €178,238 | +€107,206 | +150.9% |
| Plant, machinery and equipment | 23 | €58,487 | €58,168 | -€319 | -0.5% |
| Furniture and vehicles | 24 | €11,033 | €39,335 | +€28,302 | +256.5% |
| Leasing and similar rights | 25 | - | €80,207 | +€80,207 | |
| Other tangible fixed assets | 26 | €1,512 | €527 | -€984 | -65.1% |
| Current assets | 29/58 | €105,809 | €1,181,810 | +€1.1m | +1016.9% |
| Amounts receivable after more than one year | 29 | €3,000 | €3,725 | +€725 | +24.2% |
| Other amounts receivable | 291 | €3,000 | €3,725 | +€725 | +24.2% |
| Stocks and contracts in progress | 3 | €5,432 | €62,776 | +€57,345 | +1055.8% |
| Stocks | 30/36 | €5,432 | €29,822 | +€24,390 | +449.1% |
| Contracts in progress | 37 | - | €32,954 | +€32,954 | |
| Amounts receivable within one year | 40/41 | €16,321 | €722,439 | +€706,118 | +4326.5% |
| Trade receivables | 40 | €15,410 | €703,060 | +€687,650 | +4462.4% |
| Other amounts receivable | 41 | €911 | €19,379 | +€18,468 | +2027.4% |
| Current investments | 50/53 | - | €9,793 | +€9,793 | |
| Cash at bank and in hand | 54/58 | €79,055 | €342,636 | +€263,581 | +333.4% |
| Deferred charges and accrued income | 490/1 | €2,002 | €40,440 | +€38,439 | +1920.2% |
| Total equity and liabilities | 10/49 | €176,841 | €1,688,049 | +€1.5m | +854.6% |
| Equity | 10/15 | €63,864 | €240,603 | +€176,740 | +276.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,000 | €167,350 | +€147,350 | +736.8% |
| Tax-exempt reserves | 132 | - | €147,350 | +€147,350 | |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,264 | €54,653 | +€29,390 | +116.3% |
| Amounts payable | 17/49 | €112,978 | €1,447,445 | +€1.3m | +1181.2% |
| Amounts payable after more than one year | 17 | €46,827 | €330,491 | +€283,664 | +605.8% |
| Financial debts | 170/4 | €46,827 | €82,190 | +€35,363 | +75.5% |
| Other amounts payable | 178/9 | - | €248,302 | +€248,302 | |
| Amounts payable within one year | 42/48 | €65,854 | €1,115,892 | +€1.1m | +1594.5% |
| Current portion of amounts payable after more than one year | 42 | €14,235 | €105,763 | +€91,528 | +643.0% |
| Financial debts | 43 | - | €489,968 | +€489,968 | |
| Credit institutions | 430/8 | - | €489,968 | +€489,968 | |
| Trade debts | 44 | €18,547 | €279,550 | +€261,003 | +1407.2% |
| Suppliers | 440/4 | €18,547 | €279,550 | +€261,003 | +1407.2% |
| Advances received on contracts in progress | 46 | €5,120 | €0 | -€5,120 | -100.0% |
| Taxes, remuneration and social security | 45 | €20,435 | €240,611 | +€220,176 | +1077.5% |
| Taxes | 450/3 | €17,845 | €56,572 | +€38,728 | +217.0% |
| Remuneration and social security | 454/9 | €2,590 | €184,039 | +€181,448 | +7005.0% |
| Other amounts payable | 47/48 | €7,518 | €0 | -€7,518 | -100.0% |
| Accrued charges and deferred income | 492/3 | €296 | €1,062 | +€766 | +258.3% |
| Remuneration, social security and pensions | 62 | €52,385 | €1,652,756 | +€1.6m | +3055.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,272 | €168,065 | +€135,793 | +420.8% |
| Other operating charges | 640/8 | €736 | €7,952 | +€7,216 | +980.7% |
| Gross operating margin | 9900 | €89,180 | €2,126,556 | +€2.0m | +2284.6% |
| Operating profit (loss) | 9901 | €3,787 | €297,783 | +€293,996 | +7764.1% |
| Financial income | 75/76B | €862 | €606 | -€256 | -29.7% |
| Recurring financial income | 75 | €862 | €606 | -€256 | -29.7% |
| Financial charges | 65/66B | €3,409 | €52,646 | +€49,237 | +1444.5% |
| Recurring financial charges | 65 | €3,409 | €52,646 | +€49,237 | +1444.5% |
| Profit (loss) for the period before taxes | 9903 | €1,240 | €245,743 | +€244,503 | +19724.0% |
| Income taxes | 67/77 | €636 | €69,003 | +€68,367 | +10747.3% |
| Profit (loss) for the period | 9904 | €603 | €176,740 | +€176,136 | +29186.3% |
| Transfer to tax-exempt reserves | 689 | - | €147,350 | +€147,350 | |
| Profit (loss) for the period to be appropriated | 9905 | €603 | €29,390 | +€28,786 | +4770.0% |
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 7 October 2026 via checked.be.