INTERCAP: 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.
INTERCAP
Largest movements
- Cash +€22,850
up €22,850 (+66.1%), from €34,589 to €57,438
mainly Receivables within one year (+€21,028) and Trade debts (+€12,887)
- Receivables within one year -€21,028
down €21,028 (-19.6%), from €107,464 to €86,436
of which Trade receivables: -€17,698
- Stocks and contracts -€9,584
down €9,584 (-8.3%), from €115,490 to €105,907
- Tangible fixed assets +€5,092
up €5,092 (+398.4%), from €1,278 to €6,370
of which Plant, machinery and equipment: +€5,674
- Financial fixed assets +€4,950
new in 2025: €4,950
- Trade debts +€12,887
up €12,887 (+77.0%), from €16,742 to €29,629
- Short-term financial debts -€10,000
down €10,000 (-16.7%), from €60,000 to €50,000
- Other debts -€9,958
down €9,958 (-25.1%), from €39,653 to €29,695
- Profit (loss) carried forward +€8,910
up €8,910, from -€6,982 to €1,928
- Other operating charges +€44,764
up €44,764 (+2320.9%), from €1,929 to €46,693
- Staff costs -€27,005
down €27,005 (-26.4%), from €102,142 to €75,137
- Financial charges -€10,716
down €10,716 (-70.0%), from €15,317 to €4,601
- Gross operating margin +€8,322
up €8,322 (+6.4%), from €130,914 to €139,236
- Depreciation -€1,674
down €1,674 (-62.7%), from €2,670 to €996
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 | €262,378 | €264,114 | +€1,736 | +0.7% |
| Fixed assets | 21/28 | €1,278 | €11,320 | +€10,042 | +785.8% |
| Tangible fixed assets | 22/27 | €1,278 | €6,370 | +€5,092 | +398.4% |
| Plant, machinery and equipment | 23 | - | €5,674 | +€5,674 | |
| Furniture and vehicles | 24 | €1,278 | €696 | -€582 | -45.6% |
| Financial fixed assets | 28 | - | €4,950 | +€4,950 | |
| Current assets | 29/58 | €261,100 | €252,794 | -€8,306 | -3.2% |
| Stocks and contracts in progress | 3 | €115,490 | €105,907 | -€9,584 | -8.3% |
| Stocks | 30/36 | €115,490 | €105,907 | -€9,584 | -8.3% |
| Amounts receivable within one year | 40/41 | €107,464 | €86,436 | -€21,028 | -19.6% |
| Trade receivables | 40 | €103,586 | €85,888 | -€17,698 | -17.1% |
| Other amounts receivable | 41 | €3,878 | €548 | -€3,329 | -85.9% |
| Cash at bank and in hand | 54/58 | €34,589 | €57,438 | +€22,850 | +66.1% |
| Deferred charges and accrued income | 490/1 | €3,557 | €3,012 | -€544 | -15.3% |
| Total equity and liabilities | 10/49 | €262,378 | €264,114 | +€1,736 | +0.7% |
| Equity | 10/15 | €118,402 | €127,312 | +€8,910 | +7.5% |
| Contributions | 10/11 | €23,085 | €23,085 | = | 0.0% |
| Reserves | 13 | €102,299 | €102,299 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,705 | €5,705 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,705 | €5,705 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,887 | €13,887 | = | 0.0% |
| Distributable reserves | 133 | €82,706 | €82,706 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,982 | €1,928 | +€8,910 | |
| Amounts payable | 17/49 | €143,976 | €136,802 | -€7,174 | -5.0% |
| Amounts payable within one year | 42/48 | €143,976 | €136,802 | -€7,174 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €2,175 | €0 | -€2,175 | -100.0% |
| Financial debts | 43 | €60,000 | €50,000 | -€10,000 | -16.7% |
| Credit institutions | 430/8 | €60,000 | €50,000 | -€10,000 | -16.7% |
| Trade debts | 44 | €16,742 | €29,629 | +€12,887 | +77.0% |
| Suppliers | 440/4 | €16,742 | €29,629 | +€12,887 | +77.0% |
| Advances received on contracts in progress | 46 | - | €401 | +€401 | |
| Taxes, remuneration and social security | 45 | €25,407 | €27,078 | +€1,671 | +6.6% |
| Taxes | 450/3 | €9,619 | €10,859 | +€1,241 | +12.9% |
| Remuneration and social security | 454/9 | €15,788 | €16,218 | +€431 | +2.7% |
| Other amounts payable | 47/48 | €39,653 | €29,695 | -€9,958 | -25.1% |
| Remuneration, social security and pensions | 62 | €102,142 | €75,137 | -€27,005 | -26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,670 | €996 | -€1,674 | -62.7% |
| Other operating charges | 640/8 | €1,929 | €46,693 | +€44,764 | +2320.9% |
| Gross operating margin | 9900 | €130,914 | €139,236 | +€8,322 | +6.4% |
| Operating profit (loss) | 9901 | €24,173 | €16,410 | -€7,763 | -32.1% |
| Financial income | 75/76B | €11 | €22 | +€11 | +95.0% |
| Recurring financial income | 75 | €11 | €22 | +€11 | +95.0% |
| Financial charges | 65/66B | €15,317 | €4,601 | -€10,716 | -70.0% |
| Recurring financial charges | 65 | €15,317 | €4,601 | -€10,716 | -70.0% |
| Profit (loss) for the period before taxes | 9903 | €8,867 | €11,831 | +€2,963 | +33.4% |
| Income taxes | 67/77 | €2,641 | €2,921 | +€279 | +10.6% |
| Profit (loss) for the period | 9904 | €6,226 | €8,910 | +€2,684 | +43.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,226 | €8,910 | +€2,684 | +43.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.