INTER PIPE TOOL: 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 PIPE TOOL
NACE 46.649, Wholesale of other machinery and equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€298,182
2024 · €246,870+€51,311
Equity
€1.4m
2024 · €1.4m+€98,182
Cash
€344,723
2024 · €309,381+€35,342
Balance sheet total
€2.4m
2024 · €2.1m+€255,475
Largest movements
Assets
- Stocks and contracts +€160,500
up €160,500 (+16.2%), from €990,394 to €1.2m
- Current investments +€79,902
new in 2025: €79,902
- Cash +€35,342
up €35,342 (+11.4%), from €309,381 to €344,723
mainly Net result for the year (+€298,182) and Other debts (+€200,000)
Equity and liabilities
- Other debts +€200,000
up €200,000 (+14814.8%), from €1,350 to €201,350
- Debts after one year -€100,000
down €100,000 (-38.7%), from €258,334 to €158,334
- Profit (loss) carried forward +€98,182
up €98,182 (+9.0%), from €1.1m to €1.2m
- Trade debts +€75,727
up €75,727 (+46.5%), from €162,865 to €238,593
- Short-term financial debts -€34,774
down €34,774 (-18.8%), from €185,000 to €150,226
Income statement
- Staff costs -€53,160
down €53,160 (-15.2%), from €350,054 to €296,893
- Write-downs +€45,309
up €45,309 (+42.1%), from -€107,607 to -€62,299
- Gross operating margin +€28,024
up €28,024 (+4.3%), from €648,472 to €676,496
- Taxes -€13,707
down €13,707 (-14.8%), from €92,535 to €78,829
- Financial charges -€13,379
down €13,379 (-27.5%), from €48,717 to €35,338
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
€246,870
Gross operating margin
+€28,024
Staff costs
+€53,160
Depreciation
+€371
Write-downs
-€45,309
Other operating charges
-€2,849
Other operating items
-€5,629
Financial income
-€3,544
Financial charges
+€13,379
Taxes
+€13,707
Result 2025
€298,182
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
+€456,552
Investment
-€86,436
Financing
-€334,774
Cash 2024
€309,381
From operations (derived)
+€456,552
Net result for the year
+€298,182
Depreciation
+€31,524
Stocks and contracts
-€160,500
Receivables within one year
-€22,070
Deferred charges and accrued income
+€17,348
Trade debts
+€75,727
Tax, wage and social debts
+€23,410
Other debts
+€200,000
Accrued charges and deferred income
-€7,069
Investment (derived)
-€86,436
Investment in fixed assets (net)
-€6,534
Current investments
-€79,902
Financing
-€334,774
Debts after one year
-€100,000
Short-term financial debts
-€34,774
Contributions, distributions and other
-€200,000
Cash 2025
€344,723
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,121,800 | €2,377,275 | +€255,475 | +12.0% |
| Fixed assets | 21/28 | €160,449 | €135,459 | -€24,991 | -15.6% |
| Intangible fixed assets | 21 | €52,233 | €39,161 | -€13,073 | -25.0% |
| Tangible fixed assets | 22/27 | €94,454 | €81,336 | -€13,118 | -13.9% |
| Plant, machinery and equipment | 23 | €81,741 | €71,333 | -€10,407 | -12.7% |
| Furniture and vehicles | 24 | €11,441 | €10,003 | -€1,438 | -12.6% |
| Assets under construction and advance payments | 27 | €1,273 | €0 | -€1,273 | -100.0% |
| Financial fixed assets | 28 | €13,761 | €14,961 | +€1,200 | +8.7% |
| Current assets | 29/58 | €1,961,351 | €2,241,817 | +€280,466 | +14.3% |
| Stocks and contracts in progress | 3 | €990,394 | €1,150,893 | +€160,500 | +16.2% |
| Stocks | 30/36 | €990,394 | €1,150,893 | +€160,500 | +16.2% |
| Amounts receivable within one year | 40/41 | €607,906 | €629,976 | +€22,070 | +3.6% |
| Trade receivables | 40 | €538,981 | €515,963 | -€23,017 | -4.3% |
| Other amounts receivable | 41 | €68,925 | €114,013 | +€45,088 | +65.4% |
| Current investments | 50/53 | - | €79,902 | +€79,902 | |
| Cash at bank and in hand | 54/58 | €309,381 | €344,723 | +€35,342 | +11.4% |
| Deferred charges and accrued income | 490/1 | €53,670 | €36,322 | -€17,348 | -32.3% |
| Total equity and liabilities | 10/49 | €2,121,800 | €2,377,275 | +€255,475 | +12.0% |
| Equity | 10/15 | €1,350,539 | €1,448,721 | +€98,182 | +7.3% |
| Contributions | 10/11 | €44,595 | €44,595 | = | 0.0% |
| Reserves | 13 | €209,960 | €209,960 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,594 | €7,594 | = | 0.0% |
| Distributable reserves | 133 | €202,366 | €202,366 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,095,984 | €1,194,166 | +€98,182 | +9.0% |
| Amounts payable | 17/49 | €771,261 | €928,554 | +€157,293 | +20.4% |
| Amounts payable after more than one year | 17 | €258,334 | €158,334 | -€100,000 | -38.7% |
| Financial debts | 170/4 | €258,334 | €158,334 | -€100,000 | -38.7% |
| Amounts payable within one year | 42/48 | €505,858 | €770,221 | +€264,363 | +52.3% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €100,000 | = | 0.0% |
| Financial debts | 43 | €185,000 | €150,226 | -€34,774 | -18.8% |
| Credit institutions | 430/8 | €185,000 | €150,226 | -€34,774 | -18.8% |
| Trade debts | 44 | €162,865 | €238,593 | +€75,727 | +46.5% |
| Suppliers | 440/4 | €162,865 | €238,593 | +€75,727 | +46.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €56,642 | €80,052 | +€23,410 | +41.3% |
| Taxes | 450/3 | €30,314 | €52,308 | +€21,993 | +72.6% |
| Remuneration and social security | 454/9 | €26,328 | €27,745 | +€1,417 | +5.4% |
| Other amounts payable | 47/48 | €1,350 | €201,350 | +€200,000 | +14814.8% |
| Accrued charges and deferred income | 492/3 | €7,069 | €0 | -€7,069 | -100.0% |
| Non-recurring operating income | 76A | €7,438 | €17,811 | +€10,373 | +139.5% |
| Remuneration, social security and pensions | 62 | €350,054 | €296,893 | -€53,160 | -15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,895 | €31,524 | -€371 | -1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€107,607 | -€62,299 | +€45,309 | +42.1% |
| Other operating charges | 640/8 | €13,505 | €16,354 | +€2,849 | +21.1% |
| Non-recurring operating charges | 66A | - | €5,629 | +€5,629 | |
| Gross operating margin | 9900 | €648,472 | €676,496 | +€28,024 | +4.3% |
| Operating profit (loss) | 9901 | €360,625 | €388,394 | +€27,769 | +7.7% |
| Financial income | 75/76B | €27,498 | €23,954 | -€3,544 | -12.9% |
| Recurring financial income | 75 | €27,498 | €23,954 | -€3,544 | -12.9% |
| Financial charges | 65/66B | €48,717 | €35,338 | -€13,379 | -27.5% |
| Recurring financial charges | 65 | €48,717 | €35,338 | -€13,379 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | €339,406 | €377,010 | +€37,604 | +11.1% |
| Income taxes | 67/77 | €92,535 | €78,829 | -€13,707 | -14.8% |
| Profit (loss) for the period | 9904 | €246,870 | €298,182 | +€51,311 | +20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €246,870 | €298,182 | +€51,311 | +20.8% |
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.