Intellex: 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.
Intellex
Largest movements
- Current investments -€90,000
no longer reported in 2025 (was €90,000)
- Deferred charges and accrued income -€25,439
down €25,439 (-57.0%), from €44,662 to €19,223
- Receivables within one year +€8,167
up €8,167 (+35.7%), from €22,904 to €31,072
- Cash -€6,486
down €6,486 (-54.0%), from €12,010 to €5,524
mainly Other debts (-€120,143) and Contributions, distributions and other (-€100,000)
- Tangible fixed assets -€6,348
down €6,348 (-41.3%), from €15,383 to €9,035
of which Furniture and vehicles: -€5,889
- Other debts -€120,143
down €120,143 (-78.6%), from €152,789 to €32,646
- Reserves -€4,056
down €4,056 (-47.9%), from €8,462 to €4,406
- Trade debts +€2,450
up €2,450 (+864.9%), from €283 to €2,733
- Gross operating margin -€24,580
down €24,580 (-15.3%), from €160,857 to €136,277
- Financial income -€20,516
down €20,516 (-96.8%), from €21,187 to €671
of which Non-recurring financial income: -€20,483
- Taxes -€9,850
down €9,850 (-24.7%), from €39,905 to €30,055
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 | €184,959 | €64,854 | -€120,105 | -64.9% |
| Fixed assets | 21/28 | €15,383 | €9,035 | -€6,348 | -41.3% |
| Tangible fixed assets | 22/27 | €15,383 | €9,035 | -€6,348 | -41.3% |
| Plant, machinery and equipment | 23 | €459 | - | -€459 | |
| Furniture and vehicles | 24 | €14,924 | €9,035 | -€5,889 | -39.5% |
| Current assets | 29/58 | €169,576 | €55,819 | -€113,757 | -67.1% |
| Amounts receivable within one year | 40/41 | €22,904 | €31,072 | +€8,167 | +35.7% |
| Trade receivables | 40 | €22,904 | €31,072 | +€8,167 | +35.7% |
| Current investments | 50/53 | €90,000 | - | -€90,000 | |
| Cash at bank and in hand | 54/58 | €12,010 | €5,524 | -€6,486 | -54.0% |
| Deferred charges and accrued income | 490/1 | €44,662 | €19,223 | -€25,439 | -57.0% |
| Total equity and liabilities | 10/49 | €184,959 | €64,854 | -€120,105 | -64.9% |
| Equity | 10/15 | €28,922 | €24,866 | -€4,056 | -14.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €8,462 | €4,406 | -€4,056 | -47.9% |
| Distributable reserves | 133 | €8,462 | €4,406 | -€4,056 | -47.9% |
| Amounts payable | 17/49 | €156,037 | €39,988 | -€116,049 | -74.4% |
| Amounts payable within one year | 42/48 | €156,037 | €39,988 | -€116,049 | -74.4% |
| Trade debts | 44 | €283 | €2,733 | +€2,450 | +864.9% |
| Suppliers | 440/4 | €283 | €2,733 | +€2,450 | +864.9% |
| Taxes, remuneration and social security | 45 | €2,965 | €4,609 | +€1,644 | +55.5% |
| Taxes | 450/3 | €2,965 | €4,609 | +€1,644 | +55.5% |
| Other amounts payable | 47/48 | €152,789 | €32,646 | -€120,143 | -78.6% |
| Non-recurring operating income | 76A | - | €620 | +€620 | |
| Remuneration, social security and pensions | 62 | €2,188 | €2,239 | +€51 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,857 | €6,348 | -€509 | -7.4% |
| Other operating charges | 640/8 | €1,141 | €778 | -€363 | -31.8% |
| Gross operating margin | 9900 | €160,857 | €136,277 | -€24,580 | -15.3% |
| Operating profit (loss) | 9901 | €150,671 | €126,912 | -€23,759 | -15.8% |
| Financial income | 75/76B | €21,187 | €671 | -€20,516 | -96.8% |
| Recurring financial income | 75 | €704 | €671 | -€33 | -4.7% |
| Non-recurring financial income | 76B | €20,483 | - | -€20,483 | |
| Financial charges | 65/66B | €2,780 | €1,584 | -€1,196 | -43.0% |
| Recurring financial charges | 65 | €2,780 | €1,584 | -€1,196 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | €169,078 | €125,999 | -€43,079 | -25.5% |
| Income taxes | 67/77 | €39,905 | €30,055 | -€9,850 | -24.7% |
| Profit (loss) for the period | 9904 | €129,173 | €95,944 | -€33,229 | -25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €129,173 | €95,944 | -€33,229 | -25.7% |
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 7 October 2026 via checked.be.