INTERATH: 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.
INTERATH
Largest movements
- Cash -€422,739
down €422,739 (-37.5%), from €1.1m to €704,314
mainly Current investments (-€400,000) and Investment in fixed assets (net) (-€226,016)
- Current investments +€400,000
new in 2025: €400,000
- Tangible fixed assets -€171,209
down €171,209 (-9.6%), from €1.8m to €1.6m
of which Land and buildings: -€139,940
- Receivables within one year -€170,267
down €170,267 (-55.7%), from €305,824 to €135,557
of which Trade receivables: -€122,483
- Stocks and contracts +€62,758
up €62,758 (+10.7%), from €584,095 to €646,853
- Reserves +€516,921
up €516,921 (+174.0%), from €297,098 to €814,020
of which Distributable reserves: +€516,921
- Profit (loss) carried forward -€503,448
down €503,448 (-100.0%), from €503,448 to €0
- Trade debts -€200,679
down €200,679 (-24.2%), from €830,473 to €629,795
- Debts after one year -€186,712
down €186,712 (-11.7%), from €1.6m to €1.4m
of which Financial debts: -€186,712
- Gross operating margin -€97,600
down €97,600 (-6.2%), from €1.6m to €1.5m
- Staff costs +€71,025
up €71,025 (+8.3%), from €855,906 to €926,931
- Depreciation -€22,202
down €22,202 (-5.2%), from €428,348 to €406,146
- Financial charges -€19,456
down €19,456 (-18.0%), from €107,824 to €88,368
of which Non-recurring financial charges: -€27,203
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 | €4,224,366 | €3,866,438 | -€357,928 | -8.5% |
| Formation expenses | 20 | €21,679 | €1,038 | -€20,641 | -95.2% |
| Fixed assets | 21/28 | €1,804,095 | €1,644,607 | -€159,489 | -8.8% |
| Tangible fixed assets | 22/27 | €1,786,491 | €1,615,281 | -€171,209 | -9.6% |
| Land and buildings | 22 | €805,168 | €665,228 | -€139,940 | -17.4% |
| Plant, machinery and equipment | 23 | €821,870 | €807,813 | -€14,057 | -1.7% |
| Furniture and vehicles | 24 | €150,737 | €134,880 | -€15,857 | -10.5% |
| Other tangible fixed assets | 26 | €8,716 | €7,360 | -€1,356 | -15.6% |
| Financial fixed assets | 28 | €17,605 | €29,325 | +€11,721 | +66.6% |
| Current assets | 29/58 | €2,398,592 | €2,220,793 | -€177,798 | -7.4% |
| Amounts receivable after more than one year | 29 | €241,695 | €190,365 | -€51,329 | -21.2% |
| Trade receivables | 290 | €241,695 | €190,365 | -€51,329 | -21.2% |
| Stocks and contracts in progress | 3 | €584,095 | €646,853 | +€62,758 | +10.7% |
| Stocks | 30/36 | €584,095 | €646,853 | +€62,758 | +10.7% |
| Amounts receivable within one year | 40/41 | €305,824 | €135,557 | -€170,267 | -55.7% |
| Trade receivables | 40 | €224,699 | €102,216 | -€122,483 | -54.5% |
| Other amounts receivable | 41 | €81,126 | €33,341 | -€47,784 | -58.9% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €1,127,053 | €704,314 | -€422,739 | -37.5% |
| Deferred charges and accrued income | 490/1 | €139,924 | €143,704 | +€3,779 | +2.7% |
| Total equity and liabilities | 10/49 | €4,224,366 | €3,866,438 | -€357,928 | -8.5% |
| Equity | 10/15 | €1,180,546 | €1,194,020 | +€13,473 | +1.1% |
| Contributions | 10/11 | €380,000 | €380,000 | = | 0.0% |
| Capital | 10 | €380,000 | €380,000 | = | 0.0% |
| Issued capital | 100 | €380,000 | €380,000 | = | 0.0% |
| Reserves | 13 | €297,098 | €814,020 | +€516,921 | +174.0% |
| Non-distributable reserves | 130/1 | €38,000 | €38,000 | = | 0.0% |
| Legal reserve | 130 | €38,000 | €38,000 | = | 0.0% |
| Distributable reserves | 133 | €259,098 | €776,020 | +€516,921 | +199.5% |
| Profit (loss) carried forward | 14 | €503,448 | €0 | -€503,448 | -100.0% |
| Amounts payable | 17/49 | €3,043,820 | €2,672,418 | -€371,401 | -12.2% |
| Amounts payable after more than one year | 17 | €1,598,255 | €1,411,543 | -€186,712 | -11.7% |
| Financial debts | 170/4 | €1,594,455 | €1,407,743 | -€186,712 | -11.7% |
| Other amounts payable | 178/9 | €3,800 | €3,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,406,186 | €1,247,514 | -€158,671 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €326,330 | €345,864 | +€19,534 | +6.0% |
| Financial debts | 43 | - | €20,897 | +€20,897 | |
| Credit institutions | 430/8 | - | €20,897 | +€20,897 | |
| Trade debts | 44 | €830,473 | €629,795 | -€200,679 | -24.2% |
| Suppliers | 440/4 | €830,473 | €629,795 | -€200,679 | -24.2% |
| Taxes, remuneration and social security | 45 | €166,519 | €159,425 | -€7,094 | -4.3% |
| Taxes | 450/3 | €24,282 | €6,038 | -€18,244 | -75.1% |
| Remuneration and social security | 454/9 | €142,237 | €153,388 | +€11,151 | +7.8% |
| Other amounts payable | 47/48 | €82,864 | €91,533 | +€8,670 | +10.5% |
| Accrued charges and deferred income | 492/3 | €39,379 | €13,361 | -€26,017 | -66.1% |
| Non-recurring operating income | 76A | €63,221 | €93,763 | +€30,542 | +48.3% |
| Remuneration, social security and pensions | 62 | €855,906 | €926,931 | +€71,025 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €428,348 | €406,146 | -€22,202 | -5.2% |
| Other operating charges | 640/8 | €70,694 | €70,333 | -€361 | -0.5% |
| Non-recurring operating charges | 66A | €6,968 | €0 | -€6,968 | -100.0% |
| Gross operating margin | 9900 | €1,562,601 | €1,465,000 | -€97,600 | -6.2% |
| Operating profit (loss) | 9901 | €200,685 | €61,591 | -€139,094 | -69.3% |
| Financial income | 75/76B | €40,479 | €41,931 | +€1,452 | +3.6% |
| Recurring financial income | 75 | €40,479 | €41,931 | +€1,452 | +3.6% |
| Financial charges | 65/66B | €107,824 | €88,368 | -€19,456 | -18.0% |
| Recurring financial charges | 65 | €78,658 | €86,405 | +€7,748 | +9.8% |
| Non-recurring financial charges | 66B | €29,166 | €1,963 | -€27,203 | -93.3% |
| Profit (loss) for the period before taxes | 9903 | €133,341 | €15,155 | -€118,186 | -88.6% |
| Income taxes | 67/77 | €13,362 | €1,681 | -€11,680 | -87.4% |
| Profit (loss) for the period | 9904 | €119,979 | €13,473 | -€106,506 | -88.8% |
| Profit (loss) for the period to be appropriated | 9905 | €119,979 | €13,473 | -€106,506 | -88.8% |
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 5 October 2026 via checked.be.