IN-BETWEEN INTERNATIONAL: 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.
IN-BETWEEN INTERNATIONAL
Largest movements
- Tangible fixed assets +€155,246
up €155,246 (+153%), from €101,244 to €256,490
of which Plant, machinery and equipment: +€155,549
- Financial fixed assets +€101,439
up €101,439 (+29.1%), from €349,034 to €450,473
- Intangible fixed assets -€54,074
down €54,074 (-31.6%), from €171,041 to €116,967
- Receivables within one year +€50,386
up €50,386 (+548%), from €9,198 to €59,584
of which Other amounts receivable: +€55,673
- Cash -€22,986
down €22,986 (-18.0%), from €127,598 to €104,613
mainly Net result for the year (-€578,585) and Investment in fixed assets (net) (-€307,589)
- Profit (loss) carried forward -€578,585
down €578,585 (-56.3%), from -€1.0m to -€1.6m
- Contributions +€450,000
up €450,000 (+40.0%), from €1.1m to €1.6m
- Debts after one year +€187,680
up €187,680 (+30.8%), from €609,977 to €797,658
- Other debts +€100,000
new in 2025: €100,000
- Trade debts +€69,136
up €69,136 (+140%), from €49,341 to €118,477
- Gross operating margin -€299,437
down €299,437 (-175%), from -€170,676 to -€470,113
- Depreciation +€33,835
up €33,835 (+47.1%), from €71,892 to €105,727
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 | €760,964 | €989,195 | +€228,231 | +30.0% |
| Formation expenses | 20 | €749 | - | -€749 | |
| Fixed assets | 21/28 | €621,319 | €823,930 | +€202,611 | +32.6% |
| Intangible fixed assets | 21 | €171,041 | €116,967 | -€54,074 | -31.6% |
| Tangible fixed assets | 22/27 | €101,244 | €256,490 | +€155,246 | +153% |
| Plant, machinery and equipment | 23 | €100,941 | €256,490 | +€155,549 | +154% |
| Furniture and vehicles | 24 | €303 | - | -€303 | |
| Financial fixed assets | 28 | €349,034 | €450,473 | +€101,439 | +29.1% |
| Current assets | 29/58 | €138,896 | €165,265 | +€26,369 | +19.0% |
| Amounts receivable within one year | 40/41 | €9,198 | €59,584 | +€50,386 | +548% |
| Trade receivables | 40 | €5,658 | €370 | -€5,288 | -93.5% |
| Other amounts receivable | 41 | €3,540 | €59,214 | +€55,673 | +1,573% |
| Cash at bank and in hand | 54/58 | €127,598 | €104,613 | -€22,986 | -18.0% |
| Deferred charges and accrued income | 490/1 | €2,100 | €1,069 | -€1,032 | -49.1% |
| Total equity and liabilities | 10/49 | €760,964 | €989,195 | +€228,231 | +30.0% |
| Equity | 10/15 | €101,646 | -€26,939 | -€128,585 | |
| Contributions | 10/11 | €1,126,227 | €1,576,227 | +€450,000 | +40.0% |
| Capital | 10 | €1,126,227 | €1,576,227 | +€450,000 | +40.0% |
| Issued capital | 100 | €1,126,227 | €1,576,227 | +€450,000 | +40.0% |
| Reserves | 13 | €3,000 | €3,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,027,581 | -€1,606,166 | -€578,585 | -56.3% |
| Amounts payable | 17/49 | €659,318 | €1,016,134 | +€356,816 | +54.1% |
| Amounts payable after more than one year | 17 | €609,977 | €797,658 | +€187,680 | +30.8% |
| Financial debts | 170/4 | €609,977 | €797,658 | +€187,680 | +30.8% |
| Amounts payable within one year | 42/48 | €49,341 | €218,477 | +€169,136 | +343% |
| Trade debts | 44 | €49,341 | €118,477 | +€69,136 | +140% |
| Suppliers | 440/4 | €49,341 | €118,477 | +€69,136 | +140% |
| Other amounts payable | 47/48 | - | €100,000 | +€100,000 | |
| Non-recurring operating income | 76A | - | €100,000 | +€100,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,892 | €105,727 | +€33,835 | +47.1% |
| Other operating charges | 640/8 | €387 | €670 | +€283 | +73.1% |
| Gross operating margin | 9900 | -€170,676 | -€470,113 | -€299,437 | -175% |
| Operating profit (loss) | 9901 | -€242,955 | -€576,510 | -€333,555 | -137% |
| Financial income | 75/76B | €222 | €19 | -€203 | -91.4% |
| Recurring financial income | 75 | €222 | €19 | -€203 | -91.4% |
| Financial charges | 65/66B | €579 | €2,094 | +€1,515 | +261% |
| Recurring financial charges | 65 | €579 | €2,094 | +€1,515 | +261% |
| Profit (loss) for the period before taxes | 9903 | -€243,312 | -€578,585 | -€335,273 | -138% |
| Profit (loss) for the period | 9904 | -€243,312 | -€578,585 | -€335,273 | -138% |
| Profit (loss) for the period to be appropriated | 9905 | -€243,312 | -€578,585 | -€335,273 | -138% |
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 29 October 2026 via checked.be.