Inter Estate: 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.
What changed
Inter Estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€260,062
2024 · €209,935+€50,127
Equity
€2.8m
2024 · €2.8m-€9,938
Cash
€323,269
2024 · €243,718+€79,551
Balance sheet total
€3.4m
2024 · €3.2m+€130,292
Largest movements
Assets
- Cash +€79,551
up €79,551 (+32.6%), from €243,718 to €323,269
mainly Net result for the year (+€260,062) and Other debts (+€213,356)
- Current investments +€75,000
up €75,000 (+3.9%), from €1.9m to €2.0m
- Receivables within one year -€36,287
down €36,287 (-13.5%), from €269,565 to €233,278
Equity and liabilities
- Other debts +€213,356
up €213,356 (+96.9%), from €220,144 to €433,500
- Trade debts -€54,874
down €54,874 (-51.9%), from €105,814 to €50,940
Income statement
- Write-downs -€41,022
no longer reported in 2025 (was €41,022)
- Financial income +€30,605
up €30,605 (+94.2%), from €32,474 to €63,079
- Taxes +€16,380
up €16,380 (+22.6%), from €72,401 to €88,781
- Gross operating margin -€8,775
down €8,775 (-2.3%), from €377,697 to €368,922
- Depreciation -€5,512
down €5,512 (-16.7%), from €33,091 to €27,579
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
€209,935
Gross operating margin
-€8,775
Depreciation
+€5,512
Write-downs
+€41,022
Other operating charges
-€1,783
Financial income
+€30,605
Financial charges
-€73
Taxes
-€16,380
Result 2025
€260,062
raises the resultlowers the result
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.
From operations
+€436,998
Investment
-€84,971
Financing
-€272,475
Cash 2024
€243,718
From operations (derived)
+€436,998
Net result for the year
+€260,062
Depreciation
+€27,579
Receivables within one year
+€36,287
Deferred charges and accrued income
-€29,635
Provisions
-€3,206
Trade debts
-€54,874
Tax, wage and social debts
-€12,250
Other debts
+€213,356
Accrued charges and deferred income
-€322
Investment (derived)
-€84,971
Investment in fixed assets (net)
-€9,971
Current investments
-€75,000
Financing
-€272,475
Debts after one year
-€2,475
Contributions, distributions and other
-€270,000
Cash 2025
€323,269
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,232,311 | €3,362,603 | +€130,292 | +4.0% |
| Fixed assets | 21/28 | €760,502 | €742,894 | -€17,608 | -2.3% |
| Tangible fixed assets | 22/27 | €750,502 | €732,894 | -€17,608 | -2.3% |
| Land and buildings | 22 | €596,752 | €569,566 | -€27,186 | -4.6% |
| Plant, machinery and equipment | 23 | - | €9,578 | +€9,578 | |
| Assets under construction and advance payments | 27 | €153,750 | €153,750 | = | 0.0% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €2,471,809 | €2,619,709 | +€147,899 | +6.0% |
| Amounts receivable within one year | 40/41 | €269,565 | €233,278 | -€36,287 | -13.5% |
| Other amounts receivable | 41 | €269,565 | €233,278 | -€36,287 | -13.5% |
| Current investments | 50/53 | €1,900,000 | €1,975,000 | +€75,000 | +3.9% |
| Cash at bank and in hand | 54/58 | €243,718 | €323,269 | +€79,551 | +32.6% |
| Deferred charges and accrued income | 490/1 | €58,526 | €88,161 | +€29,635 | +50.6% |
| Total equity and liabilities | 10/49 | €3,232,311 | €3,362,603 | +€130,292 | +4.0% |
| Equity | 10/15 | €2,773,925 | €2,763,987 | -€9,938 | -0.4% |
| Contributions | 10/11 | €571,000 | €571,000 | = | 0.0% |
| Capital | 10 | €571,000 | €571,000 | = | 0.0% |
| Issued capital | 100 | €571,000 | €571,000 | = | 0.0% |
| Reserves | 13 | €2,202,925 | €2,192,987 | -€9,938 | -0.5% |
| Non-distributable reserves | 130/1 | €59,702 | €59,702 | = | 0.0% |
| Legal reserve | 130 | €57,100 | €57,100 | = | 0.0% |
| Other | 1319 | €2,602 | €2,602 | = | 0.0% |
| Tax-exempt reserves | 132 | €215,985 | €209,476 | -€6,510 | -3.0% |
| Distributable reserves | 133 | €1,927,237 | €1,923,809 | -€3,428 | -0.2% |
| Provisions and deferred taxes | 16 | €101,736 | €98,529 | -€3,206 | -3.2% |
| Provisions for liabilities and charges | 160/5 | €26,255 | €26,255 | = | 0.0% |
| Other liabilities and charges | 164/5 | €26,255 | €26,255 | = | 0.0% |
| Deferred taxes | 168 | €75,481 | €72,274 | -€3,206 | -4.2% |
| Amounts payable | 17/49 | €356,651 | €500,087 | +€143,436 | +40.2% |
| Amounts payable after more than one year | 17 | €14,700 | €12,225 | -€2,475 | -16.8% |
| Other amounts payable | 178/9 | €14,700 | €12,225 | -€2,475 | -16.8% |
| Amounts payable within one year | 42/48 | €338,208 | €484,440 | +€146,233 | +43.2% |
| Trade debts | 44 | €105,814 | €50,940 | -€54,874 | -51.9% |
| Suppliers | 440/4 | €105,814 | €50,940 | -€54,874 | -51.9% |
| Taxes, remuneration and social security | 45 | €12,250 | - | -€12,250 | |
| Taxes | 450/3 | €12,250 | - | -€12,250 | |
| Other amounts payable | 47/48 | €220,144 | €433,500 | +€213,356 | +96.9% |
| Accrued charges and deferred income | 492/3 | €3,744 | €3,422 | -€322 | -8.6% |
| Non-recurring operating income | 76A | €19,956 | - | -€19,956 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,091 | €27,579 | -€5,512 | -16.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €41,022 | - | -€41,022 | |
| Other operating charges | 640/8 | €56,646 | €58,429 | +€1,783 | +3.1% |
| Gross operating margin | 9900 | €377,697 | €368,922 | -€8,775 | -2.3% |
| Operating profit (loss) | 9901 | €246,938 | €282,914 | +€35,976 | +14.6% |
| Financial income | 75/76B | €32,474 | €63,079 | +€30,605 | +94.2% |
| Recurring financial income | 75 | €32,474 | €63,079 | +€30,605 | +94.2% |
| Financial charges | 65/66B | €283 | €356 | +€73 | +25.9% |
| Recurring financial charges | 65 | €283 | €356 | +€73 | +25.9% |
| Profit (loss) for the period before taxes | 9903 | €279,129 | €345,637 | +€66,508 | +23.8% |
| Transfer from deferred taxes | 780 | €3,206 | €3,206 | = | 0.0% |
| Income taxes | 67/77 | €72,401 | €88,781 | +€16,380 | +22.6% |
| Profit (loss) for the period | 9904 | €209,935 | €260,062 | +€50,127 | +23.9% |
| Transfer from tax-exempt reserves | 789 | €6,510 | €6,510 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €216,444 | €266,572 | +€50,127 | +23.2% |
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 18 October 2026 via checked.be.