INTELART: 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.
INTELART
Largest movements
- Cash +€315,795
up €315,795 (+117%), from €270,465 to €586,260
mainly Net result for the year (+€329,021) and Current investments (+€150,000)
- Current investments -€150,000
down €150,000 (-75.0%), from €200,000 to €50,000
- Receivables within one year +€61,946
up €61,946 (+20.0%), from €309,544 to €371,490
of which Trade receivables: +€46,384
- Other debts +€117,000
up €117,000 (+28.5%), from €410,000 to €527,000
- Trade debts +€72,539
up €72,539 (+43.6%), from €166,535 to €239,074
- Debts after one year +€23,883
new in 2025: €23,883
- Gross operating margin +€89,983
up €89,983 (+13.0%), from €691,334 to €781,317
- Staff costs -€30,877
down €30,877 (-7.4%), from €417,479 to €386,602
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 | €866,234 | €1,095,573 | +€229,340 | +26.5% |
| Fixed assets | 21/28 | €86,224 | €87,823 | +€1,599 | +1.9% |
| Tangible fixed assets | 22/27 | €81,941 | €83,540 | +€1,599 | +2.0% |
| Furniture and vehicles | 24 | €76,372 | €83,540 | +€7,168 | +9.4% |
| Other tangible fixed assets | 26 | €5,569 | €0 | -€5,569 | -100% |
| Financial fixed assets | 28 | €4,283 | €4,283 | = | 0.0% |
| Current assets | 29/58 | €780,010 | €1,007,751 | +€227,741 | +29.2% |
| Amounts receivable within one year | 40/41 | €309,544 | €371,490 | +€61,946 | +20.0% |
| Trade receivables | 40 | €297,132 | €343,515 | +€46,384 | +15.6% |
| Other amounts receivable | 41 | €12,413 | €27,975 | +€15,562 | +125% |
| Current investments | 50/53 | €200,000 | €50,000 | -€150,000 | -75.0% |
| Cash at bank and in hand | 54/58 | €270,465 | €586,260 | +€315,795 | +117% |
| Total equity and liabilities | 10/49 | €866,234 | €1,095,573 | +€229,340 | +26.5% |
| Equity | 10/15 | €245,490 | €247,511 | +€2,021 | +0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,593 | €18,593 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €18,593 | €18,593 | = | 0.0% |
| Profit (loss) carried forward | 14 | €208,297 | €210,318 | +€2,021 | +1.0% |
| Amounts payable | 17/49 | €620,744 | €848,063 | +€227,319 | +36.6% |
| Amounts payable after more than one year | 17 | - | €23,883 | +€23,883 | |
| Financial debts | 170/4 | - | €23,883 | +€23,883 | |
| Amounts payable within one year | 42/48 | €616,744 | €822,680 | +€205,936 | +33.4% |
| Current portion of amounts payable after more than one year | 42 | - | €6,243 | +€6,243 | |
| Trade debts | 44 | €166,535 | €239,074 | +€72,539 | +43.6% |
| Suppliers | 440/4 | €166,535 | €239,074 | +€72,539 | +43.6% |
| Taxes, remuneration and social security | 45 | €40,209 | €50,363 | +€10,154 | +25.3% |
| Taxes | 450/3 | €7,152 | €16,983 | +€9,831 | +137% |
| Remuneration and social security | 454/9 | €33,057 | €33,380 | +€323 | +1.0% |
| Other amounts payable | 47/48 | €410,000 | €527,000 | +€117,000 | +28.5% |
| Accrued charges and deferred income | 492/3 | €4,000 | €1,500 | -€2,500 | -62.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €417,479 | €386,602 | -€30,877 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,678 | €44,582 | +€3,904 | +9.6% |
| Other operating charges | 640/8 | €11,438 | €13,902 | +€2,463 | +21.5% |
| Non-recurring operating charges | 66A | €82 | €0 | -€82 | -100% |
| Gross operating margin | 9900 | €691,334 | €781,317 | +€89,983 | +13.0% |
| Operating profit (loss) | 9901 | €221,656 | €336,231 | +€114,575 | +51.7% |
| Financial income | 75/76B | €8,301 | €7,066 | -€1,235 | -14.9% |
| Recurring financial income | 75 | €8,301 | €7,066 | -€1,235 | -14.9% |
| Financial charges | 65/66B | €1,345 | €1,852 | +€507 | +37.7% |
| Recurring financial charges | 65 | €1,345 | €1,852 | +€507 | +37.7% |
| Profit (loss) for the period before taxes | 9903 | €228,613 | €341,445 | +€112,832 | +49.4% |
| Income taxes | 67/77 | €13,689 | €12,424 | -€1,265 | -9.2% |
| Profit (loss) for the period | 9904 | €214,924 | €329,021 | +€114,097 | +53.1% |
| Profit (loss) for the period to be appropriated | 9905 | €214,924 | €329,021 | +€114,097 | +53.1% |
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 15 October 2026 via checked.be.