INTERMEDI: 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.
INTERMEDI
Largest movements
- Tangible fixed assets +€81,626
up €81,626 (+200%), from €40,830 to €122,456
of which Furniture and vehicles: +€57,819
- Receivables within one year -€55,605
down €55,605 (-36.3%), from €153,323 to €97,718
of which Other amounts receivable: -€33,776
- Current investments -€52,817
down €52,817 (-17.4%), from €302,932 to €250,115
- Debts after one year +€35,421
up €35,421 (+160%), from €22,123 to €57,544
- Other debts -€33,167
down €33,167 (-29.7%), from €111,632 to €78,465
- Reserves -€29,380
down €29,380 (-3.4%), from €874,255 to €844,875
- Current portion of long-term debt +€18,023
up €18,023 (+94.2%), from €19,140 to €37,163
- Staff costs +€33,497
up €33,497 (+6.4%), from €526,750 to €560,246
- Gross operating margin -€29,943
down €29,943 (-4.8%), from €627,850 to €597,906
- Taxes -€15,325
down €15,325 (-64.9%), from €23,621 to €8,296
- Depreciation +€8,229
up €8,229 (+105%), from €7,871 to €16,100
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,176,433 | €1,159,851 | -€16,582 | -1.4% |
| Fixed assets | 21/28 | €41,255 | €122,880 | +€81,626 | +198% |
| Tangible fixed assets | 22/27 | €40,830 | €122,456 | +€81,626 | +200% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €3,531 | €1,941 | -€1,591 | -45.0% |
| Furniture and vehicles | 24 | €32,627 | €90,447 | +€57,819 | +177% |
| Leasing and similar rights | 25 | - | €25,935 | +€25,935 | |
| Other tangible fixed assets | 26 | €4,672 | €4,133 | -€538 | -11.5% |
| Financial fixed assets | 28 | €424 | €424 | = | 0.0% |
| Current assets | 29/58 | €1,135,179 | €1,036,971 | -€98,208 | -8.7% |
| Stocks and contracts in progress | 3 | €303,478 | €306,872 | +€3,394 | +1.1% |
| Stocks | 30/36 | €303,478 | €306,872 | +€3,394 | +1.1% |
| Amounts receivable within one year | 40/41 | €153,323 | €97,718 | -€55,605 | -36.3% |
| Trade receivables | 40 | €78,266 | €56,438 | -€21,829 | -27.9% |
| Other amounts receivable | 41 | €75,056 | €41,280 | -€33,776 | -45.0% |
| Current investments | 50/53 | €302,932 | €250,115 | -€52,817 | -17.4% |
| Cash at bank and in hand | 54/58 | €349,122 | €360,176 | +€11,054 | +3.2% |
| Deferred charges and accrued income | 490/1 | €26,324 | €22,090 | -€4,234 | -16.1% |
| Total equity and liabilities | 10/49 | €1,176,433 | €1,159,851 | -€16,582 | -1.4% |
| Equity | 10/15 | €939,937 | €910,884 | -€29,052 | -3.1% |
| Contributions | 10/11 | €8,754 | €8,754 | = | 0.0% |
| Reserves | 13 | €874,255 | €844,875 | -€29,380 | -3.4% |
| Distributable reserves | 133 | €874,255 | €844,875 | -€29,380 | -3.4% |
| Profit (loss) carried forward | 14 | €56,928 | €57,255 | +€327 | +0.6% |
| Amounts payable | 17/49 | €236,497 | €248,967 | +€12,470 | +5.3% |
| Amounts payable after more than one year | 17 | €22,123 | €57,544 | +€35,421 | +160% |
| Financial debts | 170/4 | €22,123 | €57,544 | +€35,421 | +160% |
| Amounts payable within one year | 42/48 | €213,972 | €191,423 | -€22,550 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €19,140 | €37,163 | +€18,023 | +94.2% |
| Trade debts | 44 | €8,270 | €9,271 | +€1,001 | +12.1% |
| Suppliers | 440/4 | €8,270 | €9,271 | +€1,001 | +12.1% |
| Taxes, remuneration and social security | 45 | €74,931 | €66,524 | -€8,407 | -11.2% |
| Taxes | 450/3 | €17,658 | €8,512 | -€9,146 | -51.8% |
| Remuneration and social security | 454/9 | €57,273 | €58,012 | +€739 | +1.3% |
| Other amounts payable | 47/48 | €111,632 | €78,465 | -€33,167 | -29.7% |
| Accrued charges and deferred income | 492/3 | €401 | €0 | -€401 | -100% |
| Non-recurring operating income | 76A | - | €4,440 | +€4,440 | |
| Remuneration, social security and pensions | 62 | €526,750 | €560,246 | +€33,497 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,871 | €16,100 | +€8,229 | +105% |
| Other operating charges | 640/8 | €8,897 | €6,164 | -€2,732 | -30.7% |
| Non-recurring operating charges | 66A | €970 | €0 | -€970 | -100% |
| Gross operating margin | 9900 | €627,850 | €597,906 | -€29,943 | -4.8% |
| Operating profit (loss) | 9901 | €83,362 | €15,396 | -€67,966 | -81.5% |
| Financial income | 75/76B | €18,835 | €21,036 | +€2,201 | +11.7% |
| Recurring financial income | 75 | €18,835 | €21,036 | +€2,201 | +11.7% |
| Financial charges | 65/66B | €3,432 | €6,809 | +€3,377 | +98.4% |
| Recurring financial charges | 65 | €3,432 | €6,809 | +€3,377 | +98.4% |
| Profit (loss) for the period before taxes | 9903 | €98,765 | €29,623 | -€69,142 | -70.0% |
| Income taxes | 67/77 | €23,621 | €8,296 | -€15,325 | -64.9% |
| Profit (loss) for the period | 9904 | €75,144 | €21,327 | -€53,817 | -71.6% |
| Profit (loss) for the period to be appropriated | 9905 | €75,144 | €21,327 | -€53,817 | -71.6% |
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 14 October 2026 via checked.be.