INDUSTRYLED: 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.
INDUSTRYLED
Largest movements
- Receivables within one year -€105,798
down €105,798 (-68.6%), from €154,254 to €48,456
of which Trade receivables: -€105,223
- Stocks and contracts -€8,633
down €8,633 (-68.3%), from €12,637 to €4,004
- Tangible fixed assets -€5,829
down €5,829 (-69.1%), from €8,433 to €2,604
of which Furniture and vehicles: -€5,164
- Financial fixed assets -€4,460
down €4,460 (-28.1%), from €15,870 to €11,410
- Deferred charges and accrued income -€2,607
down €2,607 (-79.5%), from €3,279 to €672
- Profit (loss) carried forward -€87,822
down €87,822 (-465.8%), from -€18,852 to -€106,674
- Short-term financial debts -€39,950
down €39,950 (-89.2%), from €44,787 to €4,837
- Trade debts -€36,297
down €36,297 (-48.6%), from €74,630 to €38,333
of which Suppliers: -€36,297
- Current portion of long-term debt +€30,360
up €30,360 (+154.6%), from €19,640 to €50,000
- Accrued charges and deferred income +€29,831
new in 2025: €29,831
- Turnover -€203,497
down €203,497 (-44.8%), from €454,359 to €250,862
- Purchases and services -€124,385
down €124,385 (-26.9%), from €462,069 to €337,684
- Gross operating margin -€80,038
down €80,038, from €1,684 to -€78,355
- Depreciation -€9,896
down €9,896 (-62.9%), from €15,725 to €5,829
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €219,473 | €92,146 | -€127,327 | -58.0% |
| Fixed assets | 21/28 | €24,303 | €14,014 | -€10,289 | -42.3% |
| Tangible fixed assets | 22/27 | €8,433 | €2,604 | -€5,829 | -69.1% |
| Plant, machinery and equipment | 23 | €1,657 | €1,057 | -€600 | -36.2% |
| Furniture and vehicles | 24 | €6,700 | €1,536 | -€5,164 | -77.1% |
| Other tangible fixed assets | 26 | €76 | €11 | -€65 | -85.9% |
| Financial fixed assets | 28 | €15,870 | €11,410 | -€4,460 | -28.1% |
| Current assets | 29/58 | €195,170 | €78,132 | -€117,038 | -60.0% |
| Stocks and contracts in progress | 3 | €12,637 | €4,004 | -€8,633 | -68.3% |
| Stocks | 30/36 | €12,637 | €4,004 | -€8,633 | -68.3% |
| Amounts receivable within one year | 40/41 | €154,254 | €48,456 | -€105,798 | -68.6% |
| Trade receivables | 40 | €148,979 | €43,756 | -€105,223 | -70.6% |
| Other amounts receivable | 41 | €5,275 | €4,700 | -€575 | -10.9% |
| Current investments | 50/53 | €25,000 | €25,000 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €3,279 | €672 | -€2,607 | -79.5% |
| Total equity and liabilities | 10/49 | €219,473 | €92,146 | -€127,327 | -58.0% |
| Equity | 10/15 | €46,699 | -€41,123 | -€87,822 | |
| Contributions | 10/11 | €38,692 | €38,692 | = | 0.0% |
| Capital | 10 | €38,692 | €38,692 | = | 0.0% |
| Issued capital | 100 | €38,692 | €38,692 | = | 0.0% |
| Reserves | 13 | €26,859 | €26,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €26,859 | €26,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Own shares acquired | 1312 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,852 | -€106,674 | -€87,822 | -465.8% |
| Amounts payable | 17/49 | €172,775 | €133,269 | -€39,506 | -22.9% |
| Amounts payable within one year | 42/48 | €172,775 | €103,439 | -€69,336 | -40.1% |
| Current portion of amounts payable after more than one year | 42 | €19,640 | €50,000 | +€30,360 | +154.6% |
| Financial debts | 43 | €44,787 | €4,837 | -€39,950 | -89.2% |
| Other loans | 439 | €44,787 | €4,837 | -€39,950 | -89.2% |
| Trade debts | 44 | €74,630 | €38,333 | -€36,297 | -48.6% |
| Suppliers | 440/4 | €72,213 | €35,916 | -€36,297 | -50.3% |
| Bills of exchange payable | 441 | €2,417 | €2,417 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €33,718 | €4,658 | -€29,060 | -86.2% |
| Taxes | 450/3 | €33,718 | €4,658 | -€29,060 | -86.2% |
| Other amounts payable | 47/48 | - | €5,611 | +€5,611 | |
| Accrued charges and deferred income | 492/3 | - | €29,831 | +€29,831 | |
| Turnover | 70 | €454,359 | €250,862 | -€203,497 | -44.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €462,069 | €337,684 | -€124,385 | -26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,725 | €5,829 | -€9,896 | -62.9% |
| Other operating charges | 640/8 | €1,340 | €842 | -€498 | -37.2% |
| Gross operating margin | 9900 | €1,684 | -€78,355 | -€80,038 | |
| Operating profit (loss) | 9901 | -€15,381 | -€85,025 | -€69,644 | -452.8% |
| Financial income | 75/76B | €216 | €2,893 | +€2,677 | +1240.1% |
| Recurring financial income | 75 | €216 | €2,893 | +€2,677 | +1240.1% |
| Financial charges | 65/66B | €3,866 | €5,689 | +€1,823 | +47.1% |
| Recurring financial charges | 65 | €3,866 | €5,689 | +€1,823 | +47.1% |
| Profit (loss) for the period before taxes | 9903 | -€19,032 | -€87,822 | -€68,790 | -361.4% |
| Profit (loss) for the period | 9904 | -€19,032 | -€87,822 | -€68,790 | -361.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,032 | -€87,822 | -€68,790 | -361.4% |
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 9 October 2026 via checked.be.