INTERGEL: 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.
INTERGEL
Largest movements
- Cash +€45,895
up €45,895 (+29.9%), from €153,653 to €199,548
mainly Net result for the year (+€78,242) and Depreciation (+€26,513)
- Tangible fixed assets -€23,270
down €23,270 (-8.7%), from €268,526 to €245,256
of which Land and buildings: -€11,889
- Stocks and contracts -€22,615
down €22,615 (-5.8%), from €387,433 to €364,818
- Profit (loss) carried forward +€78,242
up €78,242 (+17.4%), from €449,202 to €527,444
- Other debts -€44,733
down €44,733 (-27.2%), from €164,570 to €119,836
- Trade debts -€39,378
down €39,378 (-18.1%), from €217,068 to €177,689
- Tax, wage and social debts +€11,864
up €11,864 (+21.3%), from €55,697 to €67,561
of which Taxes: +€6,322
- Gross operating margin +€78,458
up €78,458 (+46.7%), from €167,956 to €246,414
- Depreciation -€10,276
down €10,276 (-27.9%), from €36,789 to €26,513
- Taxes +€10,064
up €10,064 (+890.3%), from €1,130 to €11,195
- Staff costs +€9,039
up €9,039 (+8.6%), from €104,563 to €113,602
- Other operating charges -€7,596
down €7,596 (-39.4%), from €19,279 to €11,682
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 | €902,042 | €901,598 | -€443 | 0.0% |
| Fixed assets | 21/28 | €270,726 | €247,456 | -€23,270 | -8.6% |
| Tangible fixed assets | 22/27 | €268,526 | €245,256 | -€23,270 | -8.7% |
| Land and buildings | 22 | €252,141 | €240,252 | -€11,889 | -4.7% |
| Plant, machinery and equipment | 23 | €60 | €0 | -€60 | -100.0% |
| Furniture and vehicles | 24 | €9,288 | €3,815 | -€5,473 | -58.9% |
| Leasing and similar rights | 25 | €6,527 | €935 | -€5,592 | -85.7% |
| Other tangible fixed assets | 26 | €510 | €255 | -€255 | -50.0% |
| Financial fixed assets | 28 | €2,200 | €2,200 | = | 0.0% |
| Current assets | 29/58 | €631,315 | €654,142 | +€22,827 | +3.6% |
| Stocks and contracts in progress | 3 | €387,433 | €364,818 | -€22,615 | -5.8% |
| Stocks | 30/36 | €387,433 | €364,818 | -€22,615 | -5.8% |
| Amounts receivable within one year | 40/41 | €81,571 | €77,746 | -€3,826 | -4.7% |
| Trade receivables | 40 | €40,385 | €53,628 | +€13,243 | +32.8% |
| Other amounts receivable | 41 | €41,186 | €24,118 | -€17,068 | -41.4% |
| Cash at bank and in hand | 54/58 | €153,653 | €199,548 | +€45,895 | +29.9% |
| Deferred charges and accrued income | 490/1 | €8,658 | €12,030 | +€3,373 | +39.0% |
| Total equity and liabilities | 10/49 | €902,042 | €901,598 | -€443 | 0.0% |
| Equity | 10/15 | €457,258 | €535,500 | +€78,242 | +17.1% |
| Contributions | 10/11 | €8,057 | €8,057 | = | 0.0% |
| Profit (loss) carried forward | 14 | €449,202 | €527,444 | +€78,242 | +17.4% |
| Amounts payable | 17/49 | €444,783 | €366,098 | -€78,685 | -17.7% |
| Amounts payable after more than one year | 17 | €1,012 | - | -€1,012 | |
| Financial debts | 170/4 | €1,012 | - | -€1,012 | |
| Amounts payable within one year | 42/48 | €443,772 | €366,098 | -€77,674 | -17.5% |
| Current portion of amounts payable after more than one year | 42 | €6,438 | €1,012 | -€5,426 | -84.3% |
| Trade debts | 44 | €217,068 | €177,689 | -€39,378 | -18.1% |
| Suppliers | 440/4 | €217,068 | €177,689 | -€39,378 | -18.1% |
| Taxes, remuneration and social security | 45 | €55,697 | €67,561 | +€11,864 | +21.3% |
| Taxes | 450/3 | €3,901 | €10,224 | +€6,322 | +162.1% |
| Remuneration and social security | 454/9 | €51,796 | €57,338 | +€5,542 | +10.7% |
| Other amounts payable | 47/48 | €164,570 | €119,836 | -€44,733 | -27.2% |
| Non-recurring operating income | 76A | €4,279 | - | -€4,279 | |
| Remuneration, social security and pensions | 62 | €104,563 | €113,602 | +€9,039 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,789 | €26,513 | -€10,276 | -27.9% |
| Other operating charges | 640/8 | €19,279 | €11,682 | -€7,596 | -39.4% |
| Non-recurring operating charges | 66A | - | €199 | +€199 | |
| Gross operating margin | 9900 | €167,956 | €246,414 | +€78,458 | +46.7% |
| Operating profit (loss) | 9901 | €7,326 | €94,418 | +€87,092 | +1188.9% |
| Financial income | 75/76B | €19 | €10 | -€9 | -48.2% |
| Recurring financial income | 75 | €19 | €10 | -€9 | -48.2% |
| Financial charges | 65/66B | €3,553 | €4,991 | +€1,438 | +40.5% |
| Recurring financial charges | 65 | €3,553 | €4,991 | +€1,438 | +40.5% |
| Profit (loss) for the period before taxes | 9903 | €3,792 | €89,437 | +€85,645 | +2258.7% |
| Income taxes | 67/77 | €1,130 | €11,195 | +€10,064 | +890.3% |
| Profit (loss) for the period | 9904 | €2,661 | €78,242 | +€75,581 | +2839.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,661 | €78,242 | +€75,581 | +2839.9% |
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 3 October 2026 via checked.be.