INTERCO: 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.
INTERCO
Largest movements
- Receivables within one year +€55,062
up €55,062 (+27.8%), from €198,057 to €253,119
of which Trade receivables: +€37,896
- Cash -€39,590
down €39,590 (-62.1%), from €63,757 to €24,167
mainly Receivables within one year (-€55,062) and Stocks and contracts (-€15,067)
- Stocks and contracts +€15,067
up €15,067 (+728.3%), from €2,069 to €17,136
- Reserves +€27,959
up €27,959 (+24.9%), from €112,325 to €140,284
- Trade debts +€18,454
up €18,454 (+325.3%), from €5,673 to €24,127
- Current portion of long-term debt -€8,773
down €8,773 (-39.0%), from €22,503 to €13,730
- Debts after one year -€4,707
down €4,707 (-19.4%), from €24,267 to €19,560
- Staff costs -€5,007
down €5,007 (-4.0%), from €124,094 to €119,087
- Gross operating margin +€1,771
up €1,771 (+1.0%), from €174,341 to €176,112
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 | €361,105 | €389,159 | +€28,054 | +7.8% |
| Fixed assets | 21/28 | €41,087 | €38,563 | -€2,524 | -6.1% |
| Tangible fixed assets | 22/27 | €41,087 | €38,563 | -€2,524 | -6.1% |
| Land and buildings | 22 | €4,756 | €4,236 | -€519 | -10.9% |
| Plant, machinery and equipment | 23 | €5,682 | €4,086 | -€1,596 | -28.1% |
| Furniture and vehicles | 24 | €30,649 | €30,241 | -€408 | -1.3% |
| Current assets | 29/58 | €320,018 | €350,596 | +€30,578 | +9.6% |
| Stocks and contracts in progress | 3 | €2,069 | €17,136 | +€15,067 | +728.3% |
| Stocks | 30/36 | €2,069 | €17,136 | +€15,067 | +728.3% |
| Amounts receivable within one year | 40/41 | €198,057 | €253,119 | +€55,062 | +27.8% |
| Trade receivables | 40 | €158,400 | €196,296 | +€37,896 | +23.9% |
| Other amounts receivable | 41 | €39,657 | €56,823 | +€17,166 | +43.3% |
| Current investments | 50/53 | €54,767 | €54,767 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €63,757 | €24,167 | -€39,590 | -62.1% |
| Deferred charges and accrued income | 490/1 | €1,368 | €1,407 | +€39 | +2.8% |
| Total equity and liabilities | 10/49 | €361,105 | €389,159 | +€28,054 | +7.8% |
| Equity | 10/15 | €295,022 | €322,981 | +€27,959 | +9.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €112,325 | €140,284 | +€27,959 | +24.9% |
| Distributable reserves | 133 | €112,325 | €140,284 | +€27,959 | +24.9% |
| Profit (loss) carried forward | 14 | €164,105 | €164,105 | = | 0.0% |
| Amounts payable | 17/49 | €66,083 | €66,178 | +€95 | +0.1% |
| Amounts payable after more than one year | 17 | €24,267 | €19,560 | -€4,707 | -19.4% |
| Financial debts | 170/4 | €24,267 | €19,560 | -€4,707 | -19.4% |
| Amounts payable within one year | 42/48 | €34,492 | €40,653 | +€6,161 | +17.9% |
| Current portion of amounts payable after more than one year | 42 | €22,503 | €13,730 | -€8,773 | -39.0% |
| Trade debts | 44 | €5,673 | €24,127 | +€18,454 | +325.3% |
| Suppliers | 440/4 | €5,673 | €24,127 | +€18,454 | +325.3% |
| Taxes, remuneration and social security | 45 | €6,316 | €2,796 | -€3,520 | -55.7% |
| Taxes | 450/3 | €4,209 | €2,796 | -€1,413 | -33.6% |
| Remuneration and social security | 454/9 | €2,107 | - | -€2,107 | |
| Accrued charges and deferred income | 492/3 | €7,325 | €5,966 | -€1,359 | -18.6% |
| Remuneration, social security and pensions | 62 | €124,094 | €119,087 | -€5,007 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,326 | €12,524 | +€1,198 | +10.6% |
| Other operating charges | 640/8 | €1,748 | €1,482 | -€266 | -15.2% |
| Gross operating margin | 9900 | €174,341 | €176,112 | +€1,771 | +1.0% |
| Operating profit (loss) | 9901 | €37,173 | €43,020 | +€5,847 | +15.7% |
| Financial charges | 65/66B | €4,283 | €4,172 | -€111 | -2.6% |
| Recurring financial charges | 65 | €4,283 | €4,172 | -€111 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | €32,890 | €38,848 | +€5,958 | +18.1% |
| Income taxes | 67/77 | €9,266 | €10,889 | +€1,623 | +17.5% |
| Profit (loss) for the period | 9904 | €23,624 | €27,959 | +€4,335 | +18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,624 | €27,959 | +€4,335 | +18.3% |
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 4 October 2026 via checked.be.