INTELECS: what changed
Two fiscal 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.
INTELECS
Largest movements
- Receivables within one year -€21,377
down €21,377 (-32.6%), from €65,666 to €44,289
of which Other amounts receivable: -€14,349
- Deferred charges and accrued income +€15,380
up €15,380 (+33.5%), from €45,972 to €61,353
- Tangible fixed assets -€11,389
down €11,389 (-12.9%), from €88,189 to €76,800
of which Land and buildings: -€9,600
- Cash -€7,137
down €7,137 (-36.1%), from €19,746 to €12,610
mainly Net result for the year (-€19,443) and Deferred charges and accrued income (-€15,380)
- Stocks and contracts -€3,664
down €3,664 (-11.7%), from €31,419 to €27,755
- Profit (loss) carried forward -€19,443
down €19,443 (-756.2%), from -€2,571 to -€22,015
- Other debts +€15,034
up €15,034 (+97.8%), from €15,375 to €30,409
- Tax, wage and social debts -€12,669
down €12,669 (-50.6%), from €25,031 to €12,362
of which Taxes: -€7,625
- Current portion of long-term debt +€9,668
up €9,668 (+92.6%), from €10,439 to €20,107
- Trade debts -€9,234
down €9,234 (-35.5%), from €26,043 to €16,808
- Gross operating margin -€11,765
down €11,765 (-23.1%), from €50,963 to €39,198
- Financial charges +€4,685
up €4,685 (+254.2%), from €1,843 to €6,528
- Other operating charges -€1,986
down €1,986 (-43.6%), from €4,559 to €2,573
- Write-downs +€1,881
no longer reported in 2025 (was -€1,881)
- Depreciation -€1,530
down €1,530 (-11.8%), from €12,919 to €11,389
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 | €250,992 | €222,806 | -€28,186 | -11.2% |
| Fixed assets | 21/28 | €88,189 | €76,800 | -€11,389 | -12.9% |
| Tangible fixed assets | 22/27 | €88,189 | €76,800 | -€11,389 | -12.9% |
| Land and buildings | 22 | €86,400 | €76,800 | -€9,600 | -11.1% |
| Plant, machinery and equipment | 23 | €333 | - | -€333 | |
| Furniture and vehicles | 24 | €234 | - | -€234 | |
| Other tangible fixed assets | 26 | €1,222 | - | -€1,222 | |
| Current assets | 29/58 | €162,803 | €146,006 | -€16,797 | -10.3% |
| Stocks and contracts in progress | 3 | €31,419 | €27,755 | -€3,664 | -11.7% |
| Stocks | 30/36 | €31,419 | €27,755 | -€3,664 | -11.7% |
| Amounts receivable within one year | 40/41 | €65,666 | €44,289 | -€21,377 | -32.6% |
| Trade receivables | 40 | €51,163 | €44,135 | -€7,028 | -13.7% |
| Other amounts receivable | 41 | €14,503 | €154 | -€14,349 | -98.9% |
| Cash at bank and in hand | 54/58 | €19,746 | €12,610 | -€7,137 | -36.1% |
| Deferred charges and accrued income | 490/1 | €45,972 | €61,353 | +€15,380 | +33.5% |
| Total equity and liabilities | 10/49 | €250,992 | €222,806 | -€28,186 | -11.2% |
| Equity | 10/15 | €123,039 | €103,596 | -€19,443 | -15.8% |
| Contributions | 10/11 | €38,424 | €38,424 | = | 0.0% |
| Reserves | 13 | €87,187 | €87,187 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,842 | €3,842 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,842 | €3,842 | = | 0.0% |
| Tax-exempt reserves | 132 | €52,250 | €52,250 | = | 0.0% |
| Distributable reserves | 133 | €31,095 | €31,095 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,571 | -€22,015 | -€19,443 | -756.2% |
| Amounts payable | 17/49 | €127,953 | €119,210 | -€8,742 | -6.8% |
| Amounts payable after more than one year | 17 | €43,733 | €37,845 | -€5,888 | -13.5% |
| Financial debts | 170/4 | €43,733 | €37,845 | -€5,888 | -13.5% |
| Amounts payable within one year | 42/48 | €83,175 | €79,687 | -€3,488 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €10,439 | €20,107 | +€9,668 | +92.6% |
| Trade debts | 44 | €26,043 | €16,808 | -€9,234 | -35.5% |
| Suppliers | 440/4 | €26,043 | €16,808 | -€9,234 | -35.5% |
| Advances received on contracts in progress | 46 | €6,287 | - | -€6,287 | |
| Taxes, remuneration and social security | 45 | €25,031 | €12,362 | -€12,669 | -50.6% |
| Taxes | 450/3 | €15,104 | €7,479 | -€7,625 | -50.5% |
| Remuneration and social security | 454/9 | €9,927 | €4,884 | -€5,043 | -50.8% |
| Other amounts payable | 47/48 | €15,375 | €30,409 | +€15,034 | +97.8% |
| Accrued charges and deferred income | 492/3 | €1,045 | €1,678 | +€633 | +60.6% |
| Remuneration, social security and pensions | 62 | €37,024 | €37,879 | +€855 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,919 | €11,389 | -€1,530 | -11.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,881 | - | +€1,881 | |
| Other operating charges | 640/8 | €4,559 | €2,573 | -€1,986 | -43.6% |
| Gross operating margin | 9900 | €50,963 | €39,198 | -€11,765 | -23.1% |
| Operating profit (loss) | 9901 | -€1,658 | -€12,643 | -€10,985 | -662.6% |
| Financial income | 75/76B | €1 | €37 | +€37 | +6351.7% |
| Recurring financial income | 75 | €1 | €37 | +€37 | +6351.7% |
| Financial charges | 65/66B | €1,843 | €6,528 | +€4,685 | +254.2% |
| Recurring financial charges | 65 | €1,843 | €6,528 | +€4,685 | +254.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,500 | -€19,133 | -€15,633 | -446.7% |
| Income taxes | 67/77 | €325 | €310 | -€16 | -4.8% |
| Profit (loss) for the period | 9904 | -€3,825 | -€19,443 | -€15,618 | -408.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,825 | -€19,443 | -€15,618 | -408.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.