INTELAIR: 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.
INTELAIR
Largest movements
- Stocks and contracts -€400,889
down €400,889 (-100.0%), from €400,889 to €0
- Tangible fixed assets -€164,814
down €164,814 (-96.7%), from €170,466 to €5,652
of which Land and buildings: -€161,277
- Receivables within one year +€138,269
up €138,269 (+651.5%), from €21,222 to €159,490
of which Other amounts receivable: +€117,277
- Cash +€25,332
up €25,332 (+131.6%), from €19,249 to €44,581
mainly Stocks and contracts (+€400,889) and Investment in fixed assets (net) (+€157,377)
- Debts after one year -€204,000
down €204,000 (-100.0%), from €204,000 to €0
- Other debts -€151,401
down €151,401 (-100.0%), from €151,401 to €0
- Reserves -€140,327
down €140,327 (-59.2%), from €237,174 to €96,847
- Tax, wage and social debts +€85,518
up €85,518, from €0 to €85,518
of which Taxes: +€85,518
- Trade debts +€9,471
up €9,471 (+1454.9%), from €651 to €10,122
- Other operating charges +€112,351
up €112,351 (+15395.1%), from €730 to €113,080
- Financial charges +€11,624
up €11,624 (+2465.7%), from €471 to €12,095
- Gross operating margin +€7,082
up €7,082 (+47.9%), from -€14,797 to -€7,715
- Depreciation -€4,062
down €4,062 (-35.3%), from €11,499 to €7,437
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
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 | €611,826 | €211,087 | -€400,739 | -65.5% |
| Fixed assets | 21/28 | €170,466 | €5,652 | -€164,814 | -96.7% |
| Tangible fixed assets | 22/27 | €170,466 | €5,652 | -€164,814 | -96.7% |
| Land and buildings | 22 | €161,277 | €0 | -€161,277 | -100.0% |
| Plant, machinery and equipment | 23 | €6,184 | €2,366 | -€3,818 | -61.7% |
| Furniture and vehicles | 24 | €3,004 | €3,285 | +€281 | +9.4% |
| Current assets | 29/58 | €441,360 | €205,435 | -€235,925 | -53.5% |
| Stocks and contracts in progress | 3 | €400,889 | €0 | -€400,889 | -100.0% |
| Stocks | 30/36 | €400,889 | €0 | -€400,889 | -100.0% |
| Amounts receivable within one year | 40/41 | €21,222 | €159,490 | +€138,269 | +651.5% |
| Trade receivables | 40 | €11,890 | €32,882 | +€20,992 | +176.5% |
| Other amounts receivable | 41 | €9,331 | €126,608 | +€117,277 | +1256.8% |
| Cash at bank and in hand | 54/58 | €19,249 | €44,581 | +€25,332 | +131.6% |
| Deferred charges and accrued income | 490/1 | €0 | €1,364 | +€1,364 | |
| Total equity and liabilities | 10/49 | €611,826 | €211,087 | -€400,739 | -65.5% |
| Equity | 10/15 | €255,774 | €115,447 | -€140,327 | -54.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €237,174 | €96,847 | -€140,327 | -59.2% |
| Distributable reserves | 133 | €237,174 | €96,847 | -€140,327 | -59.2% |
| Amounts payable | 17/49 | €356,052 | €95,640 | -€260,412 | -73.1% |
| Amounts payable after more than one year | 17 | €204,000 | €0 | -€204,000 | -100.0% |
| Financial debts | 170/4 | €204,000 | €0 | -€204,000 | -100.0% |
| Amounts payable within one year | 42/48 | €152,052 | €95,640 | -€56,412 | -37.1% |
| Trade debts | 44 | €651 | €10,122 | +€9,471 | +1454.9% |
| Suppliers | 440/4 | €651 | €10,122 | +€9,471 | +1454.9% |
| Taxes, remuneration and social security | 45 | €0 | €85,518 | +€85,518 | |
| Taxes | 450/3 | €0 | €85,518 | +€85,518 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €151,401 | €0 | -€151,401 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,499 | €7,437 | -€4,062 | -35.3% |
| Other operating charges | 640/8 | €730 | €113,080 | +€112,351 | +15395.1% |
| Gross operating margin | 9900 | -€14,797 | -€7,715 | +€7,082 | +47.9% |
| Operating profit (loss) | 9901 | -€27,026 | -€128,232 | -€101,206 | -374.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €471 | €12,095 | +€11,624 | +2465.7% |
| Recurring financial charges | 65 | €471 | €12,095 | +€11,624 | +2465.7% |
| Profit (loss) for the period before taxes | 9903 | -€27,497 | -€140,327 | -€112,830 | -410.3% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€27,497 | -€140,327 | -€112,830 | -410.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,497 | -€140,327 | -€112,830 | -410.3% |
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 12 October 2026 via checked.be.