INTERFIN: 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.
What changed
INTERFIN
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€83.0m
2024 · €96.5m-€13.4m
Equity
€1.25bn
2024 · €1.09bn+€152.8m
Cash
€104,188
2024 · €194,158-€89,969
Balance sheet total
€1.31bn
2024 · €1.16bn+€153.9m
Largest movements
Assets
- Financial fixed assets +€158.0m
up €158.0m (+14.1%), from €1.12bn to €1.28bn
of which Other financial fixed assets: +€158.0m
- Current investments -€30.3m
down €30.3m (-90.4%), from €33.5m to €3.2m
- Receivables within one year +€26.0m
up €26.0m (+1,346%), from €1.9m to €28.0m
of which Other amounts receivable: +€26.0m
Equity and liabilities
- Revaluation surpluses +€131.6m
up €131.6m (+111%), from €118.5m to €250.1m
- Reserves +€21.1m
up €21.1m (+3.1%), from €687.8m to €709.0m
of which Distributable reserves: +€23.0m
Income statement
- Financial income -€13.5m
down €13.5m (-13.9%), from €97.3m to €83.8m
of which Non-recurring financial income: -€11.4m
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.
Result 2024
€96.5m
Depreciation
-€4,252
Other operating charges
+€7,230
Other operating items
-€68,159
Financial income
-€13.5m
Financial charges
+€115,479
Result 2025
€83.0m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€58.1m
Investment
-€127.9m
Financing
+€69.7m
Cash 2024
€194,158
From operations (derived)
+€58.1m
Net result for the year
+€83.0m
Depreciation
+€18,050
Receivables within one year
-€26.0m
Smaller working-capital items
-€148,765
Other debts
+€1.2m
Investment (derived)
-€127.9m
Investment in fixed assets (net)
-€158.2m
Current investments
+€30.3m
Financing
+€69.7m
Contributions, distributions and other
+€69.7m
Cash 2025
€104,188
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,155,975,414 | €1,309,898,134 | +€153.9m | +13.3% |
| Fixed assets | 21/28 | €1,120,349,363 | €1,278,488,512 | +€158.1m | +14.1% |
| Tangible fixed assets | 22/27 | €662,402 | €781,410 | +€119,008 | +18.0% |
| Land and buildings | 22 | €662,402 | €781,410 | +€119,008 | +18.0% |
| Financial fixed assets | 28 | €1,119,686,961 | €1,277,707,102 | +€158.0m | +14.1% |
| Affiliated companies | 280/1 | €756,451,752 | €756,451,752 | = | 0.0% |
| Participating interests | 280 | €756,451,752 | €756,451,752 | = | 0.0% |
| Other financial fixed assets | 284/8 | €363,235,209 | €521,255,350 | +€158.0m | +43.5% |
| Shares | 284 | €363,235,209 | €521,255,350 | +€158.0m | +43.5% |
| Current assets | 29/58 | €35,626,050 | €31,409,622 | -€4.2m | -11.8% |
| Amounts receivable within one year | 40/41 | €1,932,784 | €27,952,855 | +€26.0m | +1,346% |
| Trade receivables | 40 | €37,024 | €9,357 | -€27,667 | -74.7% |
| Other amounts receivable | 41 | €1,895,760 | €27,943,498 | +€26.0m | +1,374% |
| Current investments | 50/53 | €33,450,000 | €3,200,000 | -€30.3m | -90.4% |
| Other investments | 51/53 | €33,450,000 | €3,200,000 | -€30.3m | -90.4% |
| Cash at bank and in hand | 54/58 | €194,158 | €104,188 | -€89,969 | -46.3% |
| Deferred charges and accrued income | 490/1 | €49,108 | €152,579 | +€103,470 | +211% |
| Total equity and liabilities | 10/49 | €1,155,975,414 | €1,309,898,134 | +€153.9m | +13.3% |
| Equity | 10/15 | €1,092,771,931 | €1,245,525,946 | +€152.8m | +14.0% |
| Contributions | 10/11 | €286,452,351 | €286,452,351 | = | 0.0% |
| Revaluation surpluses | 12 | €118,476,136 | €250,103,408 | +€131.6m | +111% |
| Reserves | 13 | €687,843,445 | €708,970,187 | +€21.1m | +3.1% |
| Non-distributable reserves | 130/1 | €19,713,390 | €17,871,317 | -€1.8m | -9.3% |
| Reserves not available under the articles | 1311 | €2,546 | €2,546 | = | 0.0% |
| Other | 1319 | €19,710,844 | €17,868,772 | -€1.8m | -9.3% |
| Distributable reserves | 133 | €668,130,054 | €691,098,870 | +€23.0m | +3.4% |
| Provisions and deferred taxes | 16 | €2,022,409 | €2,022,409 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €2,022,409 | €2,022,409 | = | 0.0% |
| Other liabilities and charges | 164/5 | €2,022,409 | €2,022,409 | = | 0.0% |
| Amounts payable | 17/49 | €61,181,073 | €62,349,779 | +€1.2m | +1.9% |
| Amounts payable within one year | 42/48 | €61,074,232 | €62,349,779 | +€1.3m | +2.1% |
| Trade debts | 44 | €367,806 | €434,168 | +€66,362 | +18.0% |
| Suppliers | 440/4 | €367,806 | €434,168 | +€66,362 | +18.0% |
| Taxes, remuneration and social security | 45 | €6,426 | €1,611 | -€4,815 | -74.9% |
| Taxes | 450/3 | €6,426 | €1,611 | -€4,815 | -74.9% |
| Other amounts payable | 47/48 | €60,700,000 | €61,914,000 | +€1.2m | +2.0% |
| Accrued charges and deferred income | 492/3 | €106,842 | - | -€106,842 | |
| Operating income | 70/76A | €436,266 | €393,723 | -€42,543 | -9.8% |
| Other operating income | 74 | €436,266 | €393,723 | -€42,543 | -9.8% |
| Operating charges | 60/66A | €1,113,664 | €1,136,303 | +€22,638 | +2.0% |
| Services and other goods | 61 | €626,133 | €651,749 | +€25,616 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,798 | €18,050 | +€4,252 | +30.8% |
| Other operating charges | 640/8 | €473,733 | €466,503 | -€7,230 | -1.5% |
| Operating profit (loss) | 9901 | -€677,399 | -€742,579 | -€65,181 | -9.6% |
| Financial income | 75/76B | €97,331,380 | €83,838,546 | -€13.5m | -13.9% |
| Recurring financial income | 75 | €79,516,832 | €77,445,613 | -€2.1m | -2.6% |
| Income from financial fixed assets | 750 | €79,282,260 | €76,824,543 | -€2.5m | -3.1% |
| Income from current assets | 751 | €234,572 | €621,070 | +€386,498 | +165% |
| Non-recurring financial income | 76B | €17,814,547 | €6,392,933 | -€11.4m | -64.1% |
| Financial charges | 65/66B | €170,702 | €55,224 | -€115,479 | -67.6% |
| Recurring financial charges | 65 | €170,702 | €55,224 | -€115,479 | -67.6% |
| Debt charges | 650 | €139,848 | €31,770 | -€108,078 | -77.3% |
| Other financial charges | 652/9 | €30,854 | €23,454 | -€7,401 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | €96,483,279 | €83,040,743 | -€13.4m | -13.9% |
| Profit (loss) for the period | 9904 | €96,483,279 | €83,040,743 | -€13.4m | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €96,483,279 | €83,040,743 | -€13.4m | -13.9% |
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 13 October 2026 via checked.be.