INTERBELLUM: 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.
INTERBELLUM
Largest movements
- Tangible fixed assets -€18,311
down €18,311 (-10.0%), from €183,194 to €164,882
of which Other tangible fixed assets: -€12,357
- Receivables after one year -€9,726
down €9,726 (-12.6%), from €77,420 to €67,694
- Cash +€4,119
up €4,119 (+197.0%), from €2,091 to €6,210
mainly Depreciation (+€22,261) and Receivables after one year (+€9,726)
- Receivables within one year -€3,414
down €3,414 (-21.3%), from €16,019 to €12,605
of which Other amounts receivable: -€4,257
- Other debts -€9,851
down €9,851 (-64.1%), from €15,366 to €5,515
- Debts after one year -€5,519
down €5,519 (-9.0%), from €61,426 to €55,906
- Tax, wage and social debts -€5,325
down €5,325 (-58.2%), from €9,144 to €3,820
of which Remuneration and social security: -€5,302
- Short-term financial debts -€4,407
down €4,407 (-8.7%), from €50,545 to €46,138
- Gross operating margin -€132,912
down €132,912 (-66.9%), from €198,614 to €65,702
- Staff costs -€91,809
down €91,809 (-74.5%), from €123,269 to €31,460
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 | €292,117 | €267,568 | -€24,549 | -8.4% |
| Fixed assets | 21/28 | €189,785 | €171,473 | -€18,311 | -9.6% |
| Tangible fixed assets | 22/27 | €183,194 | €164,882 | -€18,311 | -10.0% |
| Plant, machinery and equipment | 23 | €25,641 | €20,100 | -€5,541 | -21.6% |
| Furniture and vehicles | 24 | €1,571 | €1,158 | -€413 | -26.3% |
| Other tangible fixed assets | 26 | €155,982 | €143,624 | -€12,357 | -7.9% |
| Financial fixed assets | 28 | €6,591 | €6,591 | = | 0.0% |
| Current assets | 29/58 | €102,332 | €96,095 | -€6,237 | -6.1% |
| Amounts receivable after more than one year | 29 | €77,420 | €67,694 | -€9,726 | -12.6% |
| Trade receivables | 290 | €77,420 | €67,694 | -€9,726 | -12.6% |
| Stocks and contracts in progress | 3 | €6,802 | €9,585 | +€2,784 | +40.9% |
| Stocks | 30/36 | €6,802 | €9,585 | +€2,784 | +40.9% |
| Amounts receivable within one year | 40/41 | €16,019 | €12,605 | -€3,414 | -21.3% |
| Trade receivables | 40 | €892 | €1,735 | +€843 | +94.5% |
| Other amounts receivable | 41 | €15,127 | €10,870 | -€4,257 | -28.1% |
| Cash at bank and in hand | 54/58 | €2,091 | €6,210 | +€4,119 | +197.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €292,117 | €267,568 | -€24,549 | -8.4% |
| Equity | 10/15 | €130,775 | €132,228 | +€1,453 | +1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €112,175 | €113,628 | +€1,453 | +1.3% |
| Non-distributable reserves | 130/1 | €106,360 | €106,360 | = | 0.0% |
| Reserves not available under the articles | 1311 | €106,360 | €106,360 | = | 0.0% |
| Distributable reserves | 133 | €5,815 | €7,268 | +€1,453 | +25.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €161,342 | €135,340 | -€26,002 | -16.1% |
| Amounts payable after more than one year | 17 | €61,426 | €55,906 | -€5,519 | -9.0% |
| Financial debts | 170/4 | €61,426 | €55,906 | -€5,519 | -9.0% |
| Amounts payable within one year | 42/48 | €99,916 | €79,161 | -€20,755 | -20.8% |
| Current portion of amounts payable after more than one year | 42 | €14,931 | €15,519 | +€589 | +3.9% |
| Financial debts | 43 | €50,545 | €46,138 | -€4,407 | -8.7% |
| Credit institutions | 430/8 | €50,545 | €46,138 | -€4,407 | -8.7% |
| Trade debts | 44 | €9,930 | €8,169 | -€1,761 | -17.7% |
| Suppliers | 440/4 | €9,930 | €8,169 | -€1,761 | -17.7% |
| Taxes, remuneration and social security | 45 | €9,144 | €3,820 | -€5,325 | -58.2% |
| Taxes | 450/3 | €1,000 | €978 | -€22 | -2.2% |
| Remuneration and social security | 454/9 | €8,144 | €2,842 | -€5,302 | -65.1% |
| Other amounts payable | 47/48 | €15,366 | €5,515 | -€9,851 | -64.1% |
| Accrued charges and deferred income | 492/3 | - | €272 | +€272 | |
| Non-recurring operating income | 76A | €106,874 | €0 | -€106,874 | -100.0% |
| Remuneration, social security and pensions | 62 | €123,269 | €31,460 | -€91,809 | -74.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,052 | €22,261 | +€209 | +0.9% |
| Other operating charges | 640/8 | €1,861 | €2,759 | +€898 | +48.3% |
| Gross operating margin | 9900 | €198,614 | €65,702 | -€132,912 | -66.9% |
| Operating profit (loss) | 9901 | €51,432 | €9,222 | -€42,210 | -82.1% |
| Financial income | 75/76B | €3 | €1,098 | +€1,095 | +34206.3% |
| Recurring financial income | 75 | €3 | €1,098 | +€1,095 | +34206.3% |
| Financial charges | 65/66B | €10,775 | €8,867 | -€1,909 | -17.7% |
| Recurring financial charges | 65 | €10,775 | €8,867 | -€1,909 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €40,660 | €1,453 | -€39,206 | -96.4% |
| Income taxes | 67/77 | €450 | €0 | -€450 | -100.0% |
| Profit (loss) for the period | 9904 | €40,210 | €1,453 | -€38,756 | -96.4% |
| Profit (loss) for the period to be appropriated | 9905 | €40,210 | €1,453 | -€38,756 | -96.4% |
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 10 October 2026 via checked.be.