INTER-TOM
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 24-09-2026 at the NBB all 8 filings
Turnover
€156,371▲ 7.4%
2022 · €145,624
EBIT margin
8.8%▲ 10.6pp
2022 · -1.8%
Net result
-€14,324▼ 1,875%
2025 · -€725
Working capital
€22,877▼ 36.8%
2025 · €36,174
Multi-year overview
2019 to 2026, 8 financial yearsTurnover
no figure
2026
20192026
Operating result
-€14,099
▼ 2,725%
2026
20192026
Net result
-€14,324
▼ 1,875%
2026
20192026
EBIT margin
no figure
2026
20192026
Equity
€24,476
▼ 36.9%
2026
20192026
Total assets
€32,957
▼ 20.5%
2026
20192026
Debt
€8,481
▲ 218%
2026
20192026
Working capital
€22,877
▼ 36.8%
2026
20192026
Solvency
74.3%
▼ 19.3pp
2026
20192026
Current ratio
3.70
▼ 10.85
2026
20192026
Return on assets (ROA)
-43.5%
▼ 41.7pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Turnover€145,624€156,371▲ 7.4%
Operating result€21,477-€30,750▲ 43.2%-€2,759-€2,655▲ 3.8%€13,716-€9,089-€499▲ 94.5%-€14,099▼ 2,725%
Net result€15,456-€22,889▲ 48.1%-€2,754below the sector's middle half-€2,841below the sector's middle half▼ 3.2%€9,862within the sector's middle half-€8,455below the sector's middle half-€725below the sector's middle half▲ 91.4%-€14,324▼ 1,875%
EBIT margin-1.8%8.8%▲ 10.6pp
Equity€21,656-€44,514▲ 106%€41,759below the sector's middle half▼ 6.2%€38,918within the sector's middle half▼ 6.8%€47,980within the sector's middle half▲ 23.3%€39,525within the sector's middle half▼ 17.6%€38,799within the sector's middle half▼ 1.8%€24,476▼ 36.9%
Total assets€51,928-€99,110▲ 90.9%€87,246below the sector's middle half▼ 12.0%€61,026below the sector's middle half▼ 30.1%€61,364below the sector's middle half▲ 0.6%€47,606below the sector's middle half▼ 22.4%€41,470below the sector's middle half▼ 12.9%€32,957▼ 20.5%
Debt€30,272-€54,597▲ 80.4%€45,486▼ 16.7%€22,108▼ 51.4%€13,384▼ 39.5%€8,082▼ 39.6%€2,670▼ 67.0%€8,481▲ 218%
Working capital€15,954-€39,385▲ 147%€27,213within the sector's middle half▼ 30.9%€28,301within the sector's middle half▲ 4.0%€39,640within the sector's middle half▲ 40.1%€36,779within the sector's middle half▼ 7.2%€36,174within the sector's middle half▼ 1.6%€22,877▼ 36.8%
Solvency41.7%-44.9%▲ 3.2pp47.9%within the sector's middle half▲ 3.0pp63.8%within the sector's middle half▲ 15.9pp78.2%above the sector's middle half▲ 14.4pp83.0%above the sector's middle half▲ 4.8pp93.6%above the sector's middle half▲ 10.5pp74.3%▼ 19.3pp
Current ratio1.62-1.72▲ 0.111.60within the sector's middle half▼ 0.122.28within the sector's middle half▲ 0.683.96above the sector's middle half▲ 1.685.98above the sector's middle half▲ 2.0214.55above the sector's middle half▲ 8.573.70▼ 10.85
Return on assets (ROA)29.8%-23.1%▼ 6.7pp-3.2%below the sector's middle half▼ 26.3pp-4.7%below the sector's middle half▼ 1.5pp16.1%within the sector's middle half▲ 20.7pp-17.8%below the sector's middle half▼ 33.8pp-1.7%below the sector's middle half▲ 16.0pp-43.5%▼ 41.7pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is a loss of €14,099, larger than the loss of €499 in 2025. It is the lowest result since 2022.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €32,957
Fixed assets
€1,599 ▼ 39.1%
Current assets
€31,358 ▼ 19.3%
Equity and liabilities €32,957
Equity
€24,476 ▼ 36.9%
Debt
€8,481 ▲ 218%
Debt's share of the balance-sheet total rises from 6.4% to 25.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€13,073▼
2025 · €1,533
Cash flow
-€13,297▼
2025 · €1,307
Debt to equity
0.35▲
2025 · 0.07
ROE
-58.5%▼
2025 · -1.9%
Interest coverage
-58.17▼
2025 · 6.77
Debt ≤ 1 year
€8,481▲
2025 · €2,670
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €788 | €3,102 | €1,131 | €1,211 | - |
| Depreciation and write-downs of the year | €4,718 | €5,379 | €6,026 | €2,032 | €1,026 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €145,624 | €156,371 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €142,722 | €135,244 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,118 | €5,255 | €4,276 | €4,718 | €5,379 | €6,026 | €2,032 | €1,026 | ▼ 49.5% |
| Other operating charges640/8 | - | - | - | €924 | €2,116 | €806 | €837 | €868 | ▲ 3.7% |
| Gross operating margin9900 | €28,206 | €36,623 | €1,898 | €2,986 | €21,211 | -€2,257 | €2,369 | -€12,205 | - |
| Operating profit (loss)9901 | €21,477 | €30,750 | -€2,759 | -€2,655 | €13,716 | -€9,089 | -€499 | -€14,099 | ▼ 2,725% |
| Financial income75/76B | - | - | - | €64 | €0 | €0 | €0 | €0 | ▼ 92.9% |
| Recurring financial income75 | €34 | €69 | €0 | €64 | €0 | €0 | €0 | €0 | ▼ 92.9% |
| Financial charges65/66B | - | - | - | €250 | €254 | €296 | €226 | €225 | ▼ 0.7% |
| Recurring financial charges65 | €655 | €414 | €191 | €250 | €254 | €296 | €226 | €225 | ▼ 0.7% |
| Profit (loss) for the period before taxes9903 | €20,856 | €30,404 | -€2,950 | -€2,841 | €13,462 | -€9,385 | -€725 | -€14,324 | ▼ 1,875% |
| Income taxes67/77 | €5,400 | €7,515 | -€196 | - | €3,600 | -€930 | - | - | - |
| Profit (loss) for the period9904 | €15,456 | €22,889 | -€2,754 | -€2,841 | €9,862 | -€8,455 | -€725 | -€14,324 | ▼ 1,875% |
| Profit (loss) for the period to be appropriated9905 | €15,456 | €22,889 | -€2,754 | -€2,841 | €9,862 | -€8,455 | -€725 | -€14,324 | ▼ 1,875% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €51,928 | €99,110 | €87,246 | €61,026 | €61,364 | €47,606 | €41,470 | €32,957 | ▼ 20.5% |
| Fixed assets21/28 | €10,082 | €5,129 | €14,547 | €10,617 | €8,340 | €3,446 | €2,625 | €1,599 | ▼ 39.1% |
| Tangible fixed assets22/27 | €9,082 | €4,129 | €13,547 | €9,617 | €7,340 | €2,446 | €1,625 | €599 | ▼ 63.2% |
| Plant, machinery and equipment23 | - | - | - | €1,027 | €2,178 | €1,451 | €501 | €61 | ▼ 87.9% |
| Furniture and vehicles24 | - | - | - | €8,591 | €5,162 | €995 | €1,124 | €538 | ▼ 52.1% |
| Financial fixed assets28 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Current assets29/58 | €41,845 | €93,982 | €72,699 | €50,409 | €53,024 | €44,160 | €38,844 | €31,358 | ▼ 19.3% |
| Stocks and contracts in progress3 | - | - | - | - | - | €862 | - | - | - |
| Stocks30/36 | - | - | - | - | - | €862 | - | - | - |
| Amounts receivable within one year40/41 | €40,510 | €89,748 | €71,628 | €39,198 | €46,679 | €41,187 | €34,907 | €28,856 | ▼ 17.3% |
| Trade receivables40 | - | - | - | €36,882 | €45,010 | €40,911 | €33,140 | €27,640 | ▼ 16.6% |
| Other amounts receivable41 | - | - | - | €2,316 | €1,669 | €276 | €1,767 | €1,216 | ▼ 31.2% |
| Cash at bank and in hand54/58 | €309 | €4,157 | €1,071 | €8,883 | €4,414 | €965 | €3,444 | €1,976 | ▼ 42.6% |
| Deferred charges and accrued income490/1 | - | - | - | €2,328 | €1,931 | €1,146 | €493 | €526 | ▲ 6.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €51,928 | €99,110 | €87,246 | €61,026 | €61,364 | €47,606 | €41,470 | €32,957 | ▼ 20.5% |
| Equity10/15 | €21,656 | €44,514 | €41,759 | €38,918 | €47,980 | €39,525 | €38,799 | €24,476 | ▼ 36.9% |
| Contributions10/11 | €6,200 | €6,168 | - | €6,168 | €6,168 | €6,168 | €6,168 | €6,168 | = |
| Contributions outside capital11 | - | - | - | €6,168 | €6,168 | €6,168 | - | - | - |
| Other1109/19 | - | - | - | €6,168 | €6,168 | €6,168 | - | - | - |
| Reserves13 | €14,860 | €24,860 | €24,860 | €24,860 | €33,860 | €33,860 | €33,860 | €33,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €23,000 | €32,000 | €32,000 | €32,000 | €32,000 | = |
| Profit (loss) carried forward14 | €596 | €13,485 | €10,731 | €7,890 | €7,952 | -€504 | -€1,229 | -€15,553 | ▼ 1,165% |
| Amounts payable17/49 | €30,272 | €54,597 | €45,486 | €22,108 | €13,384 | €8,082 | €2,670 | €8,481 | ▲ 218% |
| Amounts payable after more than one year17 | €4,381 | - | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €25,891 | €54,597 | €45,486 | €22,108 | €13,384 | €7,382 | €2,670 | €8,481 | ▲ 218% |
| Trade debts44 | €7,469 | €6,792 | €23,105 | €2,885 | €3,756 | €2,286 | €316 | €6,144 | ▲ 19× |
| Suppliers440/4 | - | - | - | €2,885 | €3,756 | €2,286 | €316 | €6,144 | ▲ 19× |
| Taxes, remuneration and social security45 | - | - | - | €14,500 | €5,900 | €2,800 | - | €1,800 | - |
| Taxes450/3 | - | - | - | - | €3,600 | - | - | - | - |
| Remuneration and social security454/9 | - | - | - | €14,500 | €2,300 | €2,800 | - | €1,800 | - |
| Other amounts payable47/48 | - | - | - | €4,723 | €3,728 | €2,295 | €2,355 | €537 | ▼ 77.2% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €700 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,456 | €22,889 | -€2,754 | -€2,841 | €9,862 | -€8,455 | -€725 | -€14,324 | ▼ 1,875% |
| + Depreciation and write-downs630 | €6,118 | €5,255 | €4,276 | €4,718 | €5,379 | €6,026 | €2,032 | €1,026 | ▼ 49.5% |
| Operating cash flow (approximation) | €21,573 | €28,145 | €1,522 | €1,876 | €15,241 | -€2,430 | €1,307 | -€13,297 | - |
| Investment in fixed assets (approximation) | - | -€302 | -€13,695 | -€788 | -€3,102 | -€1,131 | -€1,211 | €0 | - |
| Change in cash | - | €3,848 | -€3,086 | €7,812 | -€4,469 | -€3,450 | €2,479 | -€1,468 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 3,591 companies had the same profile as INTER-TOM has now. Two years later, 87.4% were still going and 3.0% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
87.4%
was still going
9.4%
stopped otherwise
3.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of INTER-TOM itself: 1.0% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,591 companies, not a prediction for INTER-TOM. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 24-09-2026 | 2026-00525750 | |
| 31-03-2025 | micro format | 04-10-2025 | 2025-00530499 | |
| 31-03-2024 | micro format | 10-10-2024 | 2024-00504528 | |
| 31-03-2023 | micro format | 19-10-2023 | 2023-00489458 | |
| 31-03-2022 | micro format | 28-10-2022 | 2022-20477470 | |
| 31-03-2021 | full format | 30-11-2021 | 2021-79200188 | |
| 31-03-2020 | full format | 26-11-2020 | 2020-72300223 | |
| 31-03-2019 | full format | 26-11-2019 | 2019-74600327 |