INDUSTRIOUS-LAW: 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.
INDUSTRIOUS-LAW
Largest movements
- Receivables within one year -€32,396
down €32,396 (-6.7%), from €481,436 to €449,040
of which Trade receivables: -€71,994
- Deferred charges and accrued income +€17,217
up €17,217 (+708.1%), from €2,431 to €19,649
- Cash -€10,588
down €10,588 (-6.8%), from €156,557 to €145,969
mainly Tax, wage and social debts (-€19,139) and Deferred charges and accrued income (-€17,217)
- Tax, wage and social debts -€19,139
down €19,139 (-87.6%), from €21,850 to €2,712
- Trade debts -€7,824
down €7,824 (-1.4%), from €572,703 to €564,879
- Gross operating margin -€8,936
down €8,936 (-68.8%), from €12,993 to €4,057
- Staff costs -€1,559
no longer reported in 2025 (was €1,559)
- Other operating charges +€1,060
up €1,060 (+236.9%), from €447 to €1,507
- Taxes -€831
down €831 (-47.4%), from €1,753 to €922
- Financial charges +€451
up €451 (+98.2%), from €460 to €911
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 | €646,873 | €619,910 | -€26,962 | -4.2% |
| Fixed assets | 21/28 | €6,449 | €5,253 | -€1,197 | -18.6% |
| Intangible fixed assets | 21 | €870 | €270 | -€600 | -69.0% |
| Tangible fixed assets | 22/27 | €2,650 | €2,053 | -€597 | -22.5% |
| Furniture and vehicles | 24 | €2,650 | €2,053 | -€597 | -22.5% |
| Financial fixed assets | 28 | €2,930 | €2,930 | = | 0.0% |
| Current assets | 29/58 | €640,424 | €614,658 | -€25,766 | -4.0% |
| Amounts receivable within one year | 40/41 | €481,436 | €449,040 | -€32,396 | -6.7% |
| Trade receivables | 40 | €481,432 | €409,439 | -€71,994 | -15.0% |
| Other amounts receivable | 41 | €3 | €39,602 | +€39,598 | +1182035.2% |
| Cash at bank and in hand | 54/58 | €156,557 | €145,969 | -€10,588 | -6.8% |
| Deferred charges and accrued income | 490/1 | €2,431 | €19,649 | +€17,217 | +708.1% |
| Total equity and liabilities | 10/49 | €646,873 | €619,910 | -€26,962 | -4.2% |
| Equity | 10/15 | €52,180 | €52,180 | = | 0.0% |
| Contributions | 10/11 | €6,222 | €6,222 | = | 0.0% |
| Reserves | 13 | €1,867 | €1,867 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,867 | €1,867 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,867 | €1,867 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,091 | €44,091 | = | 0.0% |
| Amounts payable | 17/49 | €594,693 | €567,730 | -€26,962 | -4.5% |
| Amounts payable within one year | 42/48 | €594,693 | €567,730 | -€26,962 | -4.5% |
| Trade debts | 44 | €572,703 | €564,879 | -€7,824 | -1.4% |
| Suppliers | 440/4 | €572,703 | €564,879 | -€7,824 | -1.4% |
| Taxes, remuneration and social security | 45 | €21,850 | €2,712 | -€19,139 | -87.6% |
| Taxes | 450/3 | €21,850 | €2,712 | -€19,139 | -87.6% |
| Other amounts payable | 47/48 | €140 | €140 | = | 0.0% |
| Non-recurring operating income | 76A | - | €2,974 | +€2,974 | |
| Remuneration, social security and pensions | 62 | €1,559 | - | -€1,559 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €933 | €1,197 | +€263 | +28.2% |
| Other operating charges | 640/8 | €447 | €1,507 | +€1,060 | +236.9% |
| Non-recurring operating charges | 66A | - | €359 | +€359 | |
| Gross operating margin | 9900 | €12,993 | €4,057 | -€8,936 | -68.8% |
| Operating profit (loss) | 9901 | €10,054 | €994 | -€9,060 | -90.1% |
| Financial income | 75/76B | €707 | €840 | +€133 | +18.8% |
| Recurring financial income | 75 | €707 | €840 | +€133 | +18.8% |
| Financial charges | 65/66B | €460 | €911 | +€451 | +98.2% |
| Recurring financial charges | 65 | €460 | €911 | +€451 | +98.2% |
| Profit (loss) for the period before taxes | 9903 | €10,300 | €922 | -€9,378 | -91.0% |
| Income taxes | 67/77 | €1,753 | €922 | -€831 | -47.4% |
| Profit (loss) for the period | 9904 | €8,547 | €0 | -€8,547 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,547 | €0 | -€8,547 | -100.0% |
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 4 October 2026 via checked.be.