Industrial Product: 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.
Industrial Product
Largest movements
- Cash +€14,743
up €14,743 (+349%), from €4,230 to €18,973
mainly Advances received (+€44,441) and Trade debts (+€5,995)
- Stocks and contracts +€10,601
up €10,601 (+42.4%), from €25,000 to €35,601
- Receivables within one year +€4,426
up €4,426 (+16.3%), from €27,088 to €31,514
of which Trade receivables: +€7,601
- Advances received +€44,441
new in 2025: €44,441
- Current portion of long-term debt -€10,000
down €10,000 (-50.0%), from €20,000 to €10,000
- Trade debts +€5,995
up €5,995 (+64.5%), from €9,300 to €15,295
- Profit (loss) carried forward -€4,508
down €4,508 (-8.0%), from -€56,170 to -€60,678
- Tax, wage and social debts -€3,303
no longer reported in 2025 (was €3,303)
- Financial charges -€20,643
down €20,643 (-92.2%), from €22,386 to €1,744
of which Non-recurring financial charges: -€16,902
- Gross operating margin -€9,760
down €9,760, from €6,995 to -€2,766
- Other operating charges -€2,419
down €2,419 (-81.6%), from €2,966 to €546
- Taxes -€552
no longer reported in 2025 (was €552)
- Financial income -€347
down €347 (-33.2%), from €1,044 to €697
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 | €57,466 | €86,996 | +€29,530 | +51.4% |
| Fixed assets | 21/28 | €1,149 | €908 | -€240 | -20.9% |
| Tangible fixed assets | 22/27 | €1,149 | €908 | -€240 | -20.9% |
| Plant, machinery and equipment | 23 | €240 | - | -€240 | |
| Furniture and vehicles | 24 | €908 | €908 | = | 0.0% |
| Current assets | 29/58 | €56,317 | €86,088 | +€29,770 | +52.9% |
| Stocks and contracts in progress | 3 | €25,000 | €35,601 | +€10,601 | +42.4% |
| Stocks | 30/36 | €25,000 | €35,601 | +€10,601 | +42.4% |
| Amounts receivable within one year | 40/41 | €27,088 | €31,514 | +€4,426 | +16.3% |
| Trade receivables | 40 | €23,913 | €31,514 | +€7,601 | +31.8% |
| Other amounts receivable | 41 | €3,175 | - | -€3,175 | |
| Cash at bank and in hand | 54/58 | €4,230 | €18,973 | +€14,743 | +349% |
| Total equity and liabilities | 10/49 | €57,466 | €86,996 | +€29,530 | +51.4% |
| Equity | 10/15 | €19,571 | €15,063 | -€4,508 | -23.0% |
| Contributions | 10/11 | €13,634 | €13,634 | = | 0.0% |
| Capital | 10 | €13,634 | €13,634 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Uncalled capital | 101 | €4,958 | €4,958 | = | 0.0% |
| Reserves | 13 | €62,107 | €62,107 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,107 | €2,107 | = | 0.0% |
| Legal reserve | 130 | €2,107 | €2,107 | = | 0.0% |
| Distributable reserves | 133 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,170 | -€60,678 | -€4,508 | -8.0% |
| Amounts payable | 17/49 | €37,894 | €71,933 | +€34,038 | +89.8% |
| Amounts payable within one year | 42/48 | €37,894 | €71,933 | +€34,038 | +89.8% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €10,000 | -€10,000 | -50.0% |
| Financial debts | 43 | €196 | €196 | = | 0.0% |
| Other loans | 439 | €196 | €196 | = | 0.0% |
| Trade debts | 44 | €9,300 | €15,295 | +€5,995 | +64.5% |
| Suppliers | 440/4 | €9,300 | €15,295 | +€5,995 | +64.5% |
| Advances received on contracts in progress | 46 | - | €44,441 | +€44,441 | |
| Taxes, remuneration and social security | 45 | €3,303 | - | -€3,303 | |
| Taxes | 450/3 | €3,303 | - | -€3,303 | |
| Other amounts payable | 47/48 | €5,095 | €2,000 | -€3,095 | -60.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €345 | €150 | -€195 | -56.6% |
| Other operating charges | 640/8 | €2,966 | €546 | -€2,419 | -81.6% |
| Gross operating margin | 9900 | €6,995 | -€2,766 | -€9,760 | |
| Operating profit (loss) | 9901 | €3,684 | -€3,462 | -€7,146 | |
| Financial income | 75/76B | €1,044 | €697 | -€347 | -33.2% |
| Recurring financial income | 75 | €1,044 | €697 | -€347 | -33.2% |
| Financial charges | 65/66B | €22,386 | €1,744 | -€20,643 | -92.2% |
| Recurring financial charges | 65 | €5,484 | €1,744 | -€3,741 | -68.2% |
| Non-recurring financial charges | 66B | €16,902 | - | -€16,902 | |
| Profit (loss) for the period before taxes | 9903 | -€17,659 | -€4,508 | +€13,150 | +74.5% |
| Income taxes | 67/77 | €552 | - | -€552 | |
| Profit (loss) for the period | 9904 | -€18,210 | -€4,508 | +€13,702 | +75.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,210 | -€4,508 | +€13,702 | +75.2% |
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 18 October 2026 via checked.be.