INTERMEDIUMINVEST: 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.
INTERMEDIUMINVEST
Largest movements
- Tangible fixed assets -€1,931
down €1,931 (-42.3%), from €4,565 to €2,634
of which Furniture and vehicles: -€1,416
- Receivables within one year +€1,379
up €1,379 (+8.5%), from €16,279 to €17,658
of which Trade receivables: +€9,353
- Debts after one year -€57,283
down €57,283 (-100.0%), from €57,283 to €0
- Profit (loss) carried forward +€55,785
up €55,785 (+67.8%), from -€82,272 to -€26,487
- Other debts +€37,095
new in 2025: €37,095
- Trade debts -€36,883
down €36,883 (-78.7%), from €46,866 to €9,982
- Tax, wage and social debts +€351
up €351 (+285.5%), from €123 to €474
- Gross operating margin +€82,874
up €82,874, from -€24,263 to €58,611
- Financial income -€2,321
down €2,321 (-99.7%), from €2,328 to €7
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 | €22,100 | €21,164 | -€936 | -4.2% |
| Fixed assets | 21/28 | €4,565 | €2,634 | -€1,931 | -42.3% |
| Tangible fixed assets | 22/27 | €4,565 | €2,634 | -€1,931 | -42.3% |
| Plant, machinery and equipment | 23 | €892 | €378 | -€515 | -57.7% |
| Furniture and vehicles | 24 | €3,673 | €2,256 | -€1,416 | -38.6% |
| Current assets | 29/58 | €17,535 | €18,530 | +€995 | +5.7% |
| Amounts receivable within one year | 40/41 | €16,279 | €17,658 | +€1,379 | +8.5% |
| Trade receivables | 40 | €1,615 | €10,968 | +€9,353 | +579.1% |
| Other amounts receivable | 41 | €14,664 | €6,690 | -€7,974 | -54.4% |
| Cash at bank and in hand | 54/58 | €1,085 | €872 | -€213 | -19.6% |
| Deferred charges and accrued income | 490/1 | €172 | €0 | -€172 | -100.0% |
| Total equity and liabilities | 10/49 | €22,100 | €21,164 | -€936 | -4.2% |
| Equity | 10/15 | -€82,172 | -€26,387 | +€55,785 | +67.9% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€82,272 | -€26,487 | +€55,785 | +67.8% |
| Amounts payable | 17/49 | €104,272 | €47,551 | -€56,721 | -54.4% |
| Amounts payable after more than one year | 17 | €57,283 | €0 | -€57,283 | -100.0% |
| Financial debts | 170/4 | €57,283 | €0 | -€57,283 | -100.0% |
| Amounts payable within one year | 42/48 | €46,988 | €47,551 | +€562 | +1.2% |
| Trade debts | 44 | €46,866 | €9,982 | -€36,883 | -78.7% |
| Suppliers | 440/4 | €46,866 | €9,982 | -€36,883 | -78.7% |
| Taxes, remuneration and social security | 45 | €123 | €474 | +€351 | +285.5% |
| Taxes | 450/3 | €123 | €474 | +€351 | +285.5% |
| Other amounts payable | 47/48 | - | €37,095 | +€37,095 | |
| Non-recurring operating income | 76A | €3,444 | €0 | -€3,444 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,337 | €1,931 | -€406 | -17.4% |
| Other operating charges | 640/8 | €853 | €528 | -€325 | -38.1% |
| Gross operating margin | 9900 | -€24,263 | €58,611 | +€82,874 | |
| Operating profit (loss) | 9901 | -€27,453 | €56,153 | +€83,606 | |
| Financial income | 75/76B | €2,328 | €7 | -€2,321 | -99.7% |
| Recurring financial income | 75 | €2,328 | €7 | -€2,321 | -99.7% |
| Financial charges | 65/66B | €375 | €374 | -€1 | -0.2% |
| Recurring financial charges | 65 | €375 | €374 | -€1 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | -€25,500 | €55,785 | +€81,285 | |
| Income taxes | 67/77 | €105 | €0 | -€105 | -100.0% |
| Profit (loss) for the period | 9904 | -€25,605 | €55,785 | +€81,390 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,605 | €55,785 | +€81,390 |
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.