INTERCOPY: 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.
INTERCOPY
Largest movements
- Receivables within one year -€8,933
down €8,933 (-58.6%), from €15,235 to €6,303
of which Trade receivables: -€11,688
- Cash -€7,184
down €7,184 (-2.7%), from €269,771 to €262,587
mainly Contributions, distributions and other (-€108,012) and Investment in fixed assets (net) (-€32,219)
- Tangible fixed assets +€6,786
up €6,786 (+3.4%), from €199,748 to €206,533
of which Plant, machinery and equipment: +€29,324
- Other debts +€78,012
up €78,012 (+656.2%), from €11,889 to €89,901
- Reserves -€66,012
down €66,012 (-42.7%), from €154,554 to €88,542
of which Distributable reserves: -€66,012
- Contributions -€30,000
down €30,000 (-15.0%), from €200,592 to €170,592
- Gross operating margin -€23,708
down €23,708 (-31.6%), from €74,982 to €51,274
- Taxes -€5,114
down €5,114 (-49.2%), from €10,398 to €5,284
- Other operating charges -€3,132
down €3,132 (-31.2%), from €10,041 to €6,909
- Depreciation +€2,599
up €2,599 (+11.4%), from €22,834 to €25,433
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 | €629,187 | €619,967 | -€9,220 | -1.5% |
| Formation expenses | 20 | €8,425 | €8,425 | = | 0.0% |
| Fixed assets | 21/28 | €199,871 | €206,657 | +€6,786 | +3.4% |
| Tangible fixed assets | 22/27 | €199,748 | €206,533 | +€6,786 | +3.4% |
| Land and buildings | 22 | €196,875 | €175,678 | -€21,197 | -10.8% |
| Plant, machinery and equipment | 23 | €150 | €29,474 | +€29,324 | +19558.3% |
| Furniture and vehicles | 24 | €2,722 | €1,382 | -€1,340 | -49.2% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €420,890 | €404,884 | -€16,006 | -3.8% |
| Amounts receivable after more than one year | 29 | €120,000 | €120,000 | = | 0.0% |
| Other amounts receivable | 291 | €120,000 | €120,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €11,966 | €12,088 | +€122 | +1.0% |
| Stocks | 30/36 | €11,966 | €12,088 | +€122 | +1.0% |
| Amounts receivable within one year | 40/41 | €15,235 | €6,303 | -€8,933 | -58.6% |
| Trade receivables | 40 | €14,917 | €3,229 | -€11,688 | -78.4% |
| Other amounts receivable | 41 | €318 | €3,074 | +€2,756 | +865.8% |
| Cash at bank and in hand | 54/58 | €269,771 | €262,587 | -€7,184 | -2.7% |
| Deferred charges and accrued income | 490/1 | €3,918 | €3,906 | -€13 | -0.3% |
| Total equity and liabilities | 10/49 | €629,187 | €619,967 | -€9,220 | -1.5% |
| Equity | 10/15 | €540,811 | €446,268 | -€94,544 | -17.5% |
| Contributions | 10/11 | €200,592 | €170,592 | -€30,000 | -15.0% |
| Reserves | 13 | €154,554 | €88,542 | -€66,012 | -42.7% |
| Tax-exempt reserves | 132 | €49,682 | €49,682 | = | 0.0% |
| Distributable reserves | 133 | €104,871 | €38,859 | -€66,012 | -62.9% |
| Profit (loss) carried forward | 14 | €185,666 | €187,134 | +€1,468 | +0.8% |
| Amounts payable | 17/49 | €88,376 | €173,699 | +€85,323 | +96.5% |
| Amounts payable after more than one year | 17 | €6,040 | €6,020 | -€20 | -0.3% |
| Other amounts payable | 178/9 | €6,040 | €6,020 | -€20 | -0.3% |
| Amounts payable within one year | 42/48 | €81,365 | €165,329 | +€83,964 | +103.2% |
| Trade debts | 44 | €51,894 | €57,488 | +€5,594 | +10.8% |
| Suppliers | 440/4 | €51,894 | €57,488 | +€5,594 | +10.8% |
| Taxes, remuneration and social security | 45 | €17,582 | €17,939 | +€358 | +2.0% |
| Taxes | 450/3 | €17,582 | €15,939 | -€1,642 | -9.3% |
| Remuneration and social security | 454/9 | €0 | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €11,889 | €89,901 | +€78,012 | +656.2% |
| Accrued charges and deferred income | 492/3 | €971 | €2,351 | +€1,379 | +142.0% |
| Remuneration, social security and pensions | 62 | -€22 | €0 | +€22 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,834 | €25,433 | +€2,599 | +11.4% |
| Other operating charges | 640/8 | €10,041 | €6,909 | -€3,132 | -31.2% |
| Gross operating margin | 9900 | €74,982 | €51,274 | -€23,708 | -31.6% |
| Operating profit (loss) | 9901 | €42,128 | €18,932 | -€23,196 | -55.1% |
| Financial income | 75/76B | €1 | €0 | -€1 | -72.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -72.0% |
| Financial charges | 65/66B | €257 | €180 | -€77 | -30.1% |
| Recurring financial charges | 65 | €257 | €180 | -€77 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €41,872 | €18,753 | -€23,119 | -55.2% |
| Income taxes | 67/77 | €10,398 | €5,284 | -€5,114 | -49.2% |
| Profit (loss) for the period | 9904 | €31,474 | €13,468 | -€18,005 | -57.2% |
| Profit (loss) for the period to be appropriated | 9905 | €31,474 | €13,468 | -€18,005 | -57.2% |
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 2 October 2026 via checked.be.