Inter Belgium Security: 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.
What changed
Inter Belgium Security
NACE 43.240, Other construction installation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€203,996
2024 · €8,909-€212,906
Equity
€106,559
2024 · €151,237-€44,678
Cash
€59,863
2024 · €81,601-€21,738
Balance sheet total
€1.9m
2024 · €864,700+€1.0m
Largest movements
Assets
- Tangible fixed assets +€1.1m
up €1.1m (+773.6%), from €147,799 to €1.3m
of which Land and buildings: +€1.1m
- Receivables within one year -€137,200
down €137,200 (-31.4%), from €436,552 to €299,351
of which Trade receivables: -€173,743
- Intangible fixed assets +€35,709
up €35,709 (+102.8%), from €34,748 to €70,457
- Cash -€21,738
down €21,738 (-26.6%), from €81,601 to €59,863
mainly Investment in fixed assets (net) (-€1.3m) and Net result for the year (-€203,996)
Equity and liabilities
- Debts after one year +€630,105
up €630,105 (+622.8%), from €101,171 to €731,276
- Current portion of long-term debt +€242,961
up €242,961 (+291.2%), from €83,437 to €326,398
- Trade debts +€185,122
up €185,122 (+100.1%), from €184,876 to €369,998
- Profit (loss) carried forward -€176,996
down €176,996, from €9,892 to -€167,104
- Revaluation surpluses +€159,318
new in 2025: €159,318
Income statement
- Depreciation +€98,792
up €98,792 (+159.7%), from €61,871 to €160,663
- Gross operating margin -€69,828
down €69,828 (-5.9%), from €1.2m to €1.1m
- Financial charges +€32,847
up €32,847 (+133.4%), from €24,624 to €57,471
- Staff costs +€15,017
up €15,017 (+1.4%), from €1.1m to €1.1m
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.
Result 2024
€8,909
Gross operating margin
-€69,828
Staff costs
-€15,017
Depreciation
-€98,792
Write-downs
+€3,036
Provisions
-€1,512
Other operating charges
-€6,439
Financial income
+€8,495
Financial charges
-€32,847
Taxes
-€1
Result 2025
-€203,996
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.
From operations
+€284,292
Investment
-€1.3m
Financing
+€1.0m
Cash 2024
€81,601
From operations (derived)
+€284,292
Net result for the year
-€203,996
Depreciation
+€160,663
Smaller working-capital items
-€3,612
Receivables within one year
+€137,200
Deferred charges and accrued income
+€6,719
Trade debts
+€185,122
Tax, wage and social debts
+€14,042
Accrued charges and deferred income
-€11,846
Investment (derived)
-€1.3m
Investment in fixed assets (net)
-€1.3m
Financing
+€1.0m
Debts after one year
+€630,105
Current portion of long-term debt
+€242,961
Short-term financial debts
+€1,377
Contributions, distributions and other
+€159,318
Cash 2025
€59,863
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €864,700 | €1,880,752 | +€1.0m | +117.5% |
| Fixed assets | 21/28 | €232,548 | €1,411,676 | +€1.2m | +507.0% |
| Intangible fixed assets | 21 | €34,748 | €70,457 | +€35,709 | +102.8% |
| Tangible fixed assets | 22/27 | €147,799 | €1,291,219 | +€1.1m | +773.6% |
| Land and buildings | 22 | - | €1,143,182 | +€1.1m | |
| Plant, machinery and equipment | 23 | €1,365 | €7,477 | +€6,112 | +447.7% |
| Furniture and vehicles | 24 | €26,231 | €43,042 | +€16,811 | +64.1% |
| Leasing and similar rights | 25 | €112,403 | €97,518 | -€14,885 | -13.2% |
| Other tangible fixed assets | 26 | €7,800 | €0 | -€7,800 | -100.0% |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €632,153 | €469,076 | -€163,077 | -25.8% |
| Stocks and contracts in progress | 3 | €95,095 | €97,675 | +€2,580 | +2.7% |
| Stocks | 30/36 | €95,095 | €97,675 | +€2,580 | +2.7% |
| Amounts receivable within one year | 40/41 | €436,552 | €299,351 | -€137,200 | -31.4% |
| Trade receivables | 40 | €406,552 | €232,809 | -€173,743 | -42.7% |
| Other amounts receivable | 41 | €30,000 | €66,542 | +€36,542 | +121.8% |
| Cash at bank and in hand | 54/58 | €81,601 | €59,863 | -€21,738 | -26.6% |
| Deferred charges and accrued income | 490/1 | €18,906 | €12,187 | -€6,719 | -35.5% |
| Total equity and liabilities | 10/49 | €864,700 | €1,880,752 | +€1.0m | +117.5% |
| Equity | 10/15 | €151,237 | €106,559 | -€44,678 | -29.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | - | €159,318 | +€159,318 | |
| Reserves | 13 | €79,844 | €52,844 | -€27,000 | -33.8% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €46,694 | €46,694 | = | 0.0% |
| Distributable reserves | 133 | €27,000 | €0 | -€27,000 | -100.0% |
| Profit (loss) carried forward | 14 | €9,892 | -€167,104 | -€176,996 | |
| Provisions and deferred taxes | 16 | €7,858 | €6,825 | -€1,032 | -13.1% |
| Provisions for liabilities and charges | 160/5 | €7,858 | €6,825 | -€1,032 | -13.1% |
| Other liabilities and charges | 164/5 | €7,858 | €6,825 | -€1,032 | -13.1% |
| Amounts payable | 17/49 | €705,606 | €1,767,368 | +€1.1m | +150.5% |
| Amounts payable after more than one year | 17 | €101,171 | €731,276 | +€630,105 | +622.8% |
| Financial debts | 170/4 | €101,171 | €731,276 | +€630,105 | +622.8% |
| Amounts payable within one year | 42/48 | €488,042 | €931,545 | +€443,503 | +90.9% |
| Current portion of amounts payable after more than one year | 42 | €83,437 | €326,398 | +€242,961 | +291.2% |
| Financial debts | 43 | €49,443 | €50,820 | +€1,377 | +2.8% |
| Other loans | 439 | €49,443 | €50,820 | +€1,377 | +2.8% |
| Trade debts | 44 | €184,876 | €369,998 | +€185,122 | +100.1% |
| Suppliers | 440/4 | €184,876 | €369,998 | +€185,122 | +100.1% |
| Taxes, remuneration and social security | 45 | €84,494 | €98,536 | +€14,042 | +16.6% |
| Taxes | 450/3 | €7,004 | €5,028 | -€1,977 | -28.2% |
| Remuneration and social security | 454/9 | €77,490 | €93,509 | +€16,019 | +20.7% |
| Other amounts payable | 47/48 | €85,792 | €85,792 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €116,393 | €104,547 | -€11,846 | -10.2% |
| Non-recurring operating income | 76A | €14,260 | - | -€14,260 | |
| Remuneration, social security and pensions | 62 | €1,100,605 | €1,115,622 | +€15,017 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,871 | €160,663 | +€98,792 | +159.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€3,036 | -€3,036 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€2,544 | -€1,032 | +€1,512 | +59.4% |
| Other operating charges | 640/8 | €1,981 | €8,420 | +€6,439 | +325.0% |
| Gross operating margin | 9900 | €1,189,690 | €1,119,863 | -€69,828 | -5.9% |
| Operating profit (loss) | 9901 | €27,777 | -€160,774 | -€188,552 | |
| Financial income | 75/76B | €6,752 | €15,247 | +€8,495 | +125.8% |
| Recurring financial income | 75 | €6,752 | €15,247 | +€8,495 | +125.8% |
| Financial charges | 65/66B | €24,624 | €57,471 | +€32,847 | +133.4% |
| Recurring financial charges | 65 | €24,624 | €57,471 | +€32,847 | +133.4% |
| Profit (loss) for the period before taxes | 9903 | €9,906 | -€202,998 | -€212,904 | |
| Income taxes | 67/77 | €997 | €998 | +€1 | +0.1% |
| Profit (loss) for the period | 9904 | €8,909 | -€203,996 | -€212,906 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,909 | -€203,996 | -€212,906 |
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 8 October 2026 via checked.be.