INTERMADE: 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.
INTERMADE
Largest movements
- Receivables within one year -€78,682
down €78,682 (-67.6%), from €116,371 to €37,689
of which Trade receivables: -€78,661
- Cash +€14,044
up €14,044 (+138.9%), from €10,108 to €24,152
mainly Receivables within one year (+€78,682) and Other debts (+€28,935)
- Tangible fixed assets +€2,920
new in 2025: €2,920
- Financial fixed assets -€2,850
down €2,850 (-95.6%), from €2,980 to €130
- Tax, wage and social debts -€86,510
down €86,510 (-69.5%), from €124,409 to €37,899
of which Remuneration and social security: -€68,812
- Other debts +€28,935
new in 2025: €28,935
- Profit (loss) carried forward -€2,762
down €2,762 (-8.1%), from -€34,113 to -€36,875
- Trade debts -€2,607
down €2,607 (-11.5%), from €22,741 to €20,134
- Accrued charges and deferred income -€2,550
no longer reported in 2025 (was €2,550)
- Staff costs -€97,044
down €97,044 (-30.2%), from €320,826 to €223,782
- Gross operating margin -€81,791
down €81,791 (-26.2%), from €311,715 to €229,924
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 | €134,146 | €68,653 | -€65,493 | -48.8% |
| Fixed assets | 21/28 | €2,980 | €3,050 | +€70 | +2.4% |
| Tangible fixed assets | 22/27 | - | €2,920 | +€2,920 | |
| Furniture and vehicles | 24 | - | €2,920 | +€2,920 | |
| Financial fixed assets | 28 | €2,980 | €130 | -€2,850 | -95.6% |
| Current assets | 29/58 | €131,166 | €65,603 | -€65,563 | -50.0% |
| Amounts receivable within one year | 40/41 | €116,371 | €37,689 | -€78,682 | -67.6% |
| Trade receivables | 40 | €116,350 | €37,689 | -€78,661 | -67.6% |
| Other amounts receivable | 41 | €21 | - | -€21 | |
| Cash at bank and in hand | 54/58 | €10,108 | €24,152 | +€14,044 | +138.9% |
| Deferred charges and accrued income | 490/1 | €4,688 | €3,762 | -€925 | -19.7% |
| Total equity and liabilities | 10/49 | €134,146 | €68,653 | -€65,493 | -48.8% |
| Equity | 10/15 | -€15,553 | -€18,315 | -€2,762 | -17.8% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €10,500 | €10,500 | = | 0.0% |
| Distributable reserves | 133 | €10,500 | €10,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,113 | -€36,875 | -€2,762 | -8.1% |
| Amounts payable | 17/49 | €149,699 | €86,968 | -€62,731 | -41.9% |
| Amounts payable within one year | 42/48 | €147,149 | €86,968 | -€60,181 | -40.9% |
| Trade debts | 44 | €22,741 | €20,134 | -€2,607 | -11.5% |
| Suppliers | 440/4 | €22,741 | €20,134 | -€2,607 | -11.5% |
| Taxes, remuneration and social security | 45 | €124,409 | €37,899 | -€86,510 | -69.5% |
| Taxes | 450/3 | €18,978 | €1,281 | -€17,698 | -93.3% |
| Remuneration and social security | 454/9 | €105,430 | €36,619 | -€68,812 | -65.3% |
| Other amounts payable | 47/48 | - | €28,935 | +€28,935 | |
| Accrued charges and deferred income | 492/3 | €2,550 | - | -€2,550 | |
| Remuneration, social security and pensions | 62 | €320,826 | €223,782 | -€97,044 | -30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €613 | €313 | -€300 | -48.9% |
| Other operating charges | 640/8 | €750 | €514 | -€236 | -31.4% |
| Gross operating margin | 9900 | €311,715 | €229,924 | -€81,791 | -26.2% |
| Operating profit (loss) | 9901 | -€10,475 | €5,315 | +€15,789 | |
| Financial income | 75/76B | €80 | €30 | -€50 | -62.6% |
| Recurring financial income | 75 | €80 | €30 | -€50 | -62.6% |
| Financial charges | 65/66B | €8,038 | €7,356 | -€682 | -8.5% |
| Recurring financial charges | 65 | €8,038 | €7,356 | -€682 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | -€18,433 | -€2,011 | +€16,422 | +89.1% |
| Income taxes | 67/77 | €1,437 | €751 | -€686 | -47.8% |
| Profit (loss) for the period | 9904 | -€19,870 | -€2,762 | +€17,108 | +86.1% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,870 | -€2,762 | +€17,108 | +86.1% |
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.