Inteliphage: 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.
Inteliphage
Largest movements
- Intangible fixed assets +€3.4m
up €3.4m (+50.3%), from €6.7m to €10.1m
- Current investments +€1.1m
new in 2025: €1.1m
- Cash +€354,452
up €354,452 (+146.0%), from €242,736 to €597,188
mainly Debts after one year (+€8.4m) and Contributions, distributions and other (+€3.6m)
- Receivables within one year -€218,362
down €218,362 (-40.1%), from €544,432 to €326,070
of which Other amounts receivable: -€201,131
- Debts after one year +€8.4m
new in 2025: €8.4m
- Current portion of long-term debt -€2.9m
down €2.9m (-94.2%), from €3.1m to €180,102
- Contributions +€2.8m
up €2.8m (+249.4%), from €1.1m to €3.9m
- Profit (loss) carried forward -€2.0m
down €2.0m (-112.8%), from -€1.8m to -€3.8m
- Trade debts -€1.1m
down €1.1m (-66.5%), from €1.6m to €529,555
- Purchases and services +€3.8m
new in 2025: €3.8m
- Staff costs +€939,502
up €939,502 (+76.1%), from €1.2m to €2.2m
- Gross operating margin +€117,640
up €117,640 (+36.8%), from €319,954 to €437,594
- Financial charges +€79,398
up €79,398 (+206.3%), from €38,494 to €117,892
- Depreciation +€33,930
up €33,930 (+28.1%), from €120,728 to €154,659
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 | €7,780,577 | €12,641,466 | +€4.9m | +62.5% |
| Fixed assets | 21/28 | €6,985,718 | €10,487,488 | +€3.5m | +50.1% |
| Intangible fixed assets | 21 | €6,731,983 | €10,120,246 | +€3.4m | +50.3% |
| Tangible fixed assets | 22/27 | €253,545 | €365,682 | +€112,137 | +44.2% |
| Plant, machinery and equipment | 23 | €204,907 | €333,721 | +€128,814 | +62.9% |
| Furniture and vehicles | 24 | €9,880 | €22,568 | +€12,688 | +128.4% |
| Leasing and similar rights | 25 | €38,759 | - | -€38,759 | |
| Other tangible fixed assets | 26 | - | €9,394 | +€9,394 | |
| Financial fixed assets | 28 | €190 | €1,560 | +€1,370 | +720.1% |
| Current assets | 29/58 | €794,859 | €2,153,978 | +€1.4m | +171.0% |
| Amounts receivable within one year | 40/41 | €544,432 | €326,070 | -€218,362 | -40.1% |
| Trade receivables | 40 | €136,396 | €119,165 | -€17,231 | -12.6% |
| Other amounts receivable | 41 | €408,036 | €206,905 | -€201,131 | -49.3% |
| Current investments | 50/53 | - | €1,100,000 | +€1.1m | |
| Cash at bank and in hand | 54/58 | €242,736 | €597,188 | +€354,452 | +146.0% |
| Deferred charges and accrued income | 490/1 | €7,691 | €130,720 | +€123,029 | +1599.6% |
| Total equity and liabilities | 10/49 | €7,780,577 | €12,641,466 | +€4.9m | +62.5% |
| Equity | 10/15 | €1,621,935 | €3,186,821 | +€1.6m | +96.5% |
| Contributions | 10/11 | €1,109,740 | €3,877,730 | +€2.8m | +249.4% |
| Reserves | 13 | - | €3,540 | +€3,540 | |
| Non-distributable reserves | 130/1 | - | €3,540 | +€3,540 | |
| Reserves not available under the articles | 1311 | - | €3,540 | +€3,540 | |
| Profit (loss) carried forward | 14 | -€1,788,126 | -€3,805,323 | -€2.0m | -112.8% |
| Investment grants | 15 | €2,300,321 | €3,110,874 | +€810,553 | +35.2% |
| Amounts payable | 17/49 | €6,158,643 | €9,454,645 | +€3.3m | +53.5% |
| Amounts payable after more than one year | 17 | - | €8,444,285 | +€8.4m | |
| Financial debts | 170/4 | - | €8,444,285 | +€8.4m | |
| Amounts payable within one year | 42/48 | €6,158,643 | €1,010,360 | -€5.1m | -83.6% |
| Current portion of amounts payable after more than one year | 42 | €3,116,510 | €180,102 | -€2.9m | -94.2% |
| Financial debts | 43 | €500,000 | - | -€500,000 | |
| Credit institutions | 430/8 | €500,000 | - | -€500,000 | |
| Trade debts | 44 | €1,581,636 | €529,555 | -€1.1m | -66.5% |
| Suppliers | 440/4 | €1,581,636 | €529,555 | -€1.1m | -66.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €360,059 | €300,702 | -€59,356 | -16.5% |
| Taxes | 450/3 | €86,551 | €58,943 | -€27,609 | -31.9% |
| Remuneration and social security | 454/9 | €273,508 | €241,760 | -€31,748 | -11.6% |
| Other amounts payable | 47/48 | €600,438 | - | -€600,438 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | - | €22,546 | +€22,546 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €3,782,605 | +€3.8m | |
| Remuneration, social security and pensions | 62 | €1,235,314 | €2,174,816 | +€939,502 | +76.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,728 | €154,659 | +€33,930 | +28.1% |
| Other operating charges | 640/8 | €37,115 | €6,807 | -€30,308 | -81.7% |
| Gross operating margin | 9900 | €319,954 | €437,594 | +€117,640 | +36.8% |
| Operating profit (loss) | 9901 | -€1,073,202 | -€1,898,687 | -€825,484 | -76.9% |
| Financial income | 75/76B | €198 | €901 | +€703 | +354.1% |
| Recurring financial income | 75 | €198 | €901 | +€703 | +354.1% |
| Financial charges | 65/66B | €38,494 | €117,892 | +€79,398 | +206.3% |
| Recurring financial charges | 65 | €38,494 | €117,892 | +€79,398 | +206.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,111,498 | -€2,015,678 | -€904,180 | -81.3% |
| Income taxes | 67/77 | €1,518 | €1,518 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€1,113,017 | -€2,017,197 | -€904,180 | -81.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,113,017 | -€2,017,197 | -€904,180 | -81.2% |
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 2 October 2026 via checked.be.