Industrialise: 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.
Industrialise
Largest movements
- Cash +€263,992
up €263,992 (+179%), from €147,451 to €411,443
mainly Trade debts (+€251,216) and Receivables within one year (+€99,222)
- Deferred charges and accrued income +€102,110
up €102,110 (+4,084%), from €2,500 to €104,610
- Receivables within one year -€99,222
down €99,222 (-64.7%), from €153,246 to €54,024
of which Trade receivables: -€114,399
- Tangible fixed assets +€47,310
up €47,310 (+346%), from €13,691 to €61,001
of which Plant, machinery and equipment: +€46,057
- Stocks and contracts +€8,291
up €8,291 (+83.3%), from €9,952 to €18,243
- Trade debts +€251,216
up €251,216 (+615%), from €40,857 to €292,073
- Reserves +€50,380
up €50,380 (+18.1%), from €278,863 to €329,243
- Tax, wage and social debts +€18,505
up €18,505, from €0 to €18,505
of which Remuneration and social security: +€15,371
- Gross operating margin +€164,887
up €164,887 (+2,716%), from €6,072 to €170,959
- Staff costs +€76,551
new in 2025: €76,551
- Taxes +€22,554
up €22,554 (+11,743%), from €192 to €22,746
- Write-downs +€10,026
new in 2025: €10,026
- Financial charges +€2,923
up €2,923 (+689%), from €424 to €3,347
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 | €326,840 | €649,321 | +€322,481 | +98.7% |
| Fixed assets | 21/28 | €13,691 | €61,001 | +€47,310 | +346% |
| Tangible fixed assets | 22/27 | €13,691 | €61,001 | +€47,310 | +346% |
| Plant, machinery and equipment | 23 | €13,691 | €59,748 | +€46,057 | +336% |
| Furniture and vehicles | 24 | - | €1,253 | +€1,253 | |
| Current assets | 29/58 | €313,149 | €588,320 | +€275,171 | +87.9% |
| Stocks and contracts in progress | 3 | €9,952 | €18,243 | +€8,291 | +83.3% |
| Stocks | 30/36 | €9,952 | €18,243 | +€8,291 | +83.3% |
| Amounts receivable within one year | 40/41 | €153,246 | €54,024 | -€99,222 | -64.7% |
| Trade receivables | 40 | €114,933 | €533 | -€114,399 | -99.5% |
| Other amounts receivable | 41 | €38,313 | €53,491 | +€15,178 | +39.6% |
| Cash at bank and in hand | 54/58 | €147,451 | €411,443 | +€263,992 | +179% |
| Deferred charges and accrued income | 490/1 | €2,500 | €104,610 | +€102,110 | +4,084% |
| Total equity and liabilities | 10/49 | €326,840 | €649,321 | +€322,481 | +98.7% |
| Equity | 10/15 | €284,863 | €335,243 | +€50,380 | +17.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €278,863 | €329,243 | +€50,380 | +18.1% |
| Distributable reserves | 133 | €278,863 | €329,243 | +€50,380 | +18.1% |
| Amounts payable | 17/49 | €41,977 | €314,078 | +€272,101 | +648% |
| Amounts payable within one year | 42/48 | €41,977 | €314,078 | +€272,101 | +648% |
| Financial debts | 43 | €931 | €3,311 | +€2,380 | +256% |
| Credit institutions | 430/8 | €931 | €3,311 | +€2,380 | +256% |
| Trade debts | 44 | €40,857 | €292,073 | +€251,216 | +615% |
| Suppliers | 440/4 | €40,857 | €292,073 | +€251,216 | +615% |
| Taxes, remuneration and social security | 45 | €0 | €18,505 | +€18,505 | |
| Taxes | 450/3 | €0 | €3,133 | +€3,133 | |
| Remuneration and social security | 454/9 | - | €15,371 | +€15,371 | |
| Other amounts payable | 47/48 | €189 | €189 | = | 0.0% |
| Remuneration, social security and pensions | 62 | - | €76,551 | +€76,551 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,709 | €6,803 | +€2,095 | +44.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,026 | +€10,026 | |
| Other operating charges | 640/8 | €966 | €1,606 | +€639 | +66.2% |
| Gross operating margin | 9900 | €6,072 | €170,959 | +€164,887 | +2,716% |
| Operating profit (loss) | 9901 | €397 | €75,973 | +€75,576 | +19,036% |
| Financial income | 75/76B | €360 | €500 | +€140 | +38.8% |
| Recurring financial income | 75 | €360 | €500 | +€140 | +38.8% |
| Financial charges | 65/66B | €424 | €3,347 | +€2,923 | +689% |
| Recurring financial charges | 65 | €424 | €3,347 | +€2,923 | +689% |
| Profit (loss) for the period before taxes | 9903 | €333 | €73,126 | +€72,793 | +21,860% |
| Income taxes | 67/77 | €192 | €22,746 | +€22,554 | +11,743% |
| Profit (loss) for the period | 9904 | €141 | €50,380 | +€50,239 | +35,646% |
| Profit (loss) for the period to be appropriated | 9905 | €141 | €50,380 | +€50,239 | +35,646% |
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 27 October 2026 via checked.be.