Etablissements INTERCO: 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.
Etablissements INTERCO
Largest movements
- Receivables within one year -€463,228
down €463,228 (-47.0%), from €986,145 to €522,917
of which Trade receivables: -€472,121
- Cash +€129,251
up €129,251 (+29.1%), from €443,995 to €573,246
mainly Receivables within one year (+€463,228) and Depreciation (+€217,120)
- Stocks and contracts -€96,414
down €96,414 (-8.8%), from €1.1m to €994,532
- Tangible fixed assets -€45,512
down €45,512 (-8.2%), from €555,856 to €510,344
of which Plant, machinery and equipment: -€23,764
- Trade debts -€244,699
down €244,699 (-87.0%), from €281,163 to €36,465
- Debts after one year -€213,300
down €213,300 (-54.8%), from €389,050 to €175,750
- Short-term financial debts +€129,011
new in 2025: €129,011
- Other debts -€115,365
down €115,365 (-39.2%), from €294,365 to €179,000
- Current portion of long-term debt -€58,113
down €58,113 (-20.8%), from €279,892 to €221,780
- Gross operating margin -€148,232
down €148,232 (-14.1%), from €1.1m to €904,871
- Staff costs -€75,448
down €75,448 (-11.1%), from €681,045 to €605,597
- Taxes -€20,869
down €20,869 (-53.7%), from €38,832 to €17,963
- Depreciation +€14,666
up €14,666 (+7.2%), from €202,453 to €217,120
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 | €3,345,052 | €2,821,037 | -€524,015 | -15.7% |
| Fixed assets | 21/28 | €786,314 | €710,956 | -€75,358 | -9.6% |
| Intangible fixed assets | 21 | €219,621 | €186,225 | -€33,396 | -15.2% |
| Tangible fixed assets | 22/27 | €555,856 | €510,344 | -€45,512 | -8.2% |
| Land and buildings | 22 | €27,364 | €25,738 | -€1,627 | -5.9% |
| Plant, machinery and equipment | 23 | €305,229 | €281,465 | -€23,764 | -7.8% |
| Furniture and vehicles | 24 | €52,556 | €35,831 | -€16,725 | -31.8% |
| Leasing and similar rights | 25 | €25,617 | €19,074 | -€6,543 | -25.5% |
| Other tangible fixed assets | 26 | €145,089 | €148,237 | +€3,148 | +2.2% |
| Financial fixed assets | 28 | €10,837 | €14,387 | +€3,550 | +32.8% |
| Current assets | 29/58 | €2,558,738 | €2,110,081 | -€448,657 | -17.5% |
| Stocks and contracts in progress | 3 | €1,090,947 | €994,532 | -€96,414 | -8.8% |
| Stocks | 30/36 | €1,090,947 | €994,532 | -€96,414 | -8.8% |
| Amounts receivable within one year | 40/41 | €986,145 | €522,917 | -€463,228 | -47.0% |
| Trade receivables | 40 | €986,145 | €514,024 | -€472,121 | -47.9% |
| Other amounts receivable | 41 | - | €8,894 | +€8,894 | |
| Cash at bank and in hand | 54/58 | €443,995 | €573,246 | +€129,251 | +29.1% |
| Deferred charges and accrued income | 490/1 | €37,652 | €19,386 | -€18,266 | -48.5% |
| Total equity and liabilities | 10/49 | €3,345,052 | €2,821,037 | -€524,015 | -15.7% |
| Equity | 10/15 | €1,927,545 | €1,948,393 | +€20,848 | +1.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,898,930 | €1,927,509 | +€28,579 | +1.5% |
| Non-distributable reserves | 130/1 | €24,359 | €24,359 | = | 0.0% |
| Reserves not available under the articles | 1311 | €24,359 | €24,359 | = | 0.0% |
| Tax-exempt reserves | 132 | €47,990 | €47,990 | = | 0.0% |
| Distributable reserves | 133 | €1,826,581 | €1,855,160 | +€28,579 | +1.6% |
| Profit (loss) carried forward | 14 | €8,579 | €848 | -€7,731 | -90.1% |
| Investment grants | 15 | €1,444 | €1,444 | = | 0.0% |
| Amounts payable | 17/49 | €1,417,507 | €872,645 | -€544,862 | -38.4% |
| Amounts payable after more than one year | 17 | €389,050 | €175,750 | -€213,300 | -54.8% |
| Financial debts | 170/4 | €389,050 | €175,750 | -€213,300 | -54.8% |
| Amounts payable within one year | 42/48 | €1,028,457 | €696,895 | -€331,562 | -32.2% |
| Current portion of amounts payable after more than one year | 42 | €279,892 | €221,780 | -€58,113 | -20.8% |
| Financial debts | 43 | - | €129,011 | +€129,011 | |
| Credit institutions | 430/8 | - | €129,011 | +€129,011 | |
| Trade debts | 44 | €281,163 | €36,465 | -€244,699 | -87.0% |
| Suppliers | 440/4 | €281,163 | €36,465 | -€244,699 | -87.0% |
| Taxes, remuneration and social security | 45 | €173,037 | €130,639 | -€42,398 | -24.5% |
| Taxes | 450/3 | €76,418 | €50,357 | -€26,061 | -34.1% |
| Remuneration and social security | 454/9 | €96,619 | €80,282 | -€16,337 | -16.9% |
| Other amounts payable | 47/48 | €294,365 | €179,000 | -€115,365 | -39.2% |
| Non-recurring operating income | 76A | €1,000 | - | -€1,000 | |
| Remuneration, social security and pensions | 62 | €681,045 | €605,597 | -€75,448 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €202,453 | €217,120 | +€14,666 | +7.2% |
| Other operating charges | 640/8 | €12,781 | €13,473 | +€693 | +5.4% |
| Non-recurring operating charges | 66A | €70 | €11,421 | +€11,350 | +16,107% |
| Gross operating margin | 9900 | €1,053,103 | €904,871 | -€148,232 | -14.1% |
| Operating profit (loss) | 9901 | €156,754 | €57,260 | -€99,493 | -63.5% |
| Financial income | 75/76B | €6,833 | €6,569 | -€264 | -3.9% |
| Recurring financial income | 75 | €6,833 | €6,569 | -€264 | -3.9% |
| Financial charges | 65/66B | €26,177 | €25,019 | -€1,158 | -4.4% |
| Recurring financial charges | 65 | €26,177 | €25,019 | -€1,158 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | €137,410 | €38,810 | -€98,600 | -71.8% |
| Income taxes | 67/77 | €38,832 | €17,963 | -€20,869 | -53.7% |
| Profit (loss) for the period | 9904 | €98,579 | €20,848 | -€77,731 | -78.9% |
| Profit (loss) for the period to be appropriated | 9905 | €98,579 | €20,848 | -€77,731 | -78.9% |
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.