INDUSTRYA FUND: 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.
INDUSTRYA FUND
Largest movements
- Financial fixed assets +€4.7m
up €4.7m (+60.2%), from €7.8m to €12.5m
- Current investments -€505,818
down €505,818 (-88.1%), from €574,256 to €68,439
- Receivables after one year -€260,962
down €260,962 (-6.3%), from €4.2m to €3.9m
- Contributions +€5.5m
up €5.5m (+28.9%), from €19.0m to €24.5m
- Profit (loss) carried forward -€1.6m
down €1.6m (-23.9%), from -€6.5m to -€8.1m
- Financial charges -€1.2m
down €1.2m (-64.5%), from €1.9m to €659,271
of which Non-recurring financial charges: -€1.3m
- Gross operating margin +€289,363
up €289,363 (+21.9%), from -€1.3m to -€1.0m
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 | €12,580,050 | €16,487,040 | +€3.9m | +31.1% |
| Fixed assets | 21/28 | €7,792,105 | €12,481,105 | +€4.7m | +60.2% |
| Financial fixed assets | 28 | €7,792,105 | €12,481,105 | +€4.7m | +60.2% |
| Current assets | 29/58 | €4,787,945 | €4,005,934 | -€782,010 | -16.3% |
| Amounts receivable after more than one year | 29 | €4,164,626 | €3,903,664 | -€260,962 | -6.3% |
| Other amounts receivable | 291 | €4,164,626 | €3,903,664 | -€260,962 | -6.3% |
| Amounts receivable within one year | 40/41 | €5,292 | €13,866 | +€8,575 | +162% |
| Trade receivables | 40 | €2,042 | €5,628 | +€3,587 | +176% |
| Other amounts receivable | 41 | €3,250 | €8,238 | +€4,988 | +153% |
| Current investments | 50/53 | €574,256 | €68,439 | -€505,818 | -88.1% |
| Cash at bank and in hand | 54/58 | €34,881 | €7,707 | -€27,173 | -77.9% |
| Deferred charges and accrued income | 490/1 | €8,890 | €12,258 | +€3,368 | +37.9% |
| Total equity and liabilities | 10/49 | €12,580,050 | €16,487,040 | +€3.9m | +31.1% |
| Equity | 10/15 | €12,499,383 | €16,448,690 | +€3.9m | +31.6% |
| Contributions | 10/11 | €19,000,000 | €24,500,000 | +€5.5m | +28.9% |
| Profit (loss) carried forward | 14 | -€6,500,617 | -€8,051,310 | -€1.6m | -23.9% |
| Amounts payable | 17/49 | €80,666 | €38,350 | -€42,316 | -52.5% |
| Amounts payable within one year | 42/48 | €80,666 | €38,350 | -€42,316 | -52.5% |
| Trade debts | 44 | €51,276 | €21,819 | -€29,457 | -57.4% |
| Suppliers | 440/4 | €51,276 | €21,819 | -€29,457 | -57.4% |
| Taxes, remuneration and social security | 45 | €29,390 | €16,531 | -€12,860 | -43.8% |
| Taxes | 450/3 | €29,390 | €16,531 | -€12,860 | -43.8% |
| Other operating charges | 640/8 | €1,845 | €998 | -€846 | -45.9% |
| Non-recurring operating charges | 66A | €431,217 | €0 | -€431,217 | -100% |
| Gross operating margin | 9900 | -€1,323,625 | -€1,034,262 | +€289,363 | +21.9% |
| Operating profit (loss) | 9901 | -€1,756,687 | -€1,035,261 | +€721,426 | +41.1% |
| Financial income | 75/76B | €151,946 | €141,598 | -€10,348 | -6.8% |
| Recurring financial income | 75 | €151,946 | €141,598 | -€10,348 | -6.8% |
| Financial charges | 65/66B | €1,858,267 | €659,271 | -€1.2m | -64.5% |
| Recurring financial charges | 65 | €608,267 | €659,271 | +€51,003 | +8.4% |
| Non-recurring financial charges | 66B | €1,250,000 | €0 | -€1.3m | -100% |
| Profit (loss) for the period before taxes | 9903 | -€3,463,009 | -€1,552,934 | +€1.9m | +55.2% |
| Income taxes | 67/77 | €196 | -€2,240 | -€2,436 | |
| Profit (loss) for the period | 9904 | -€3,463,205 | -€1,550,694 | +€1.9m | +55.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,463,205 | -€1,550,694 | +€1.9m | +55.2% |
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 24 October 2026 via checked.be.