INTERMEZZO: 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.
INTERMEZZO
Largest movements
- Receivables after one year -€210,000
no longer reported in 2024 (was €210,000)
- Current investments +€65,233
up €65,233 (+58.0%), from €112,395 to €177,628
- Tangible fixed assets -€25,600
down €25,600 (-3.5%), from €733,781 to €708,181
of which Land and buildings: -€22,523
- Debts after one year -€157,515
down €157,515 (-23.7%), from €663,442 to €505,926
- Financial charges -€41,309
down €41,309 (-68.1%), from €60,694 to €19,384
of which Non-recurring financial charges: -€42,268
- Gross operating margin +€10,297
up €10,297 (+5.1%), from €200,183 to €210,480
- Financial income -€9,221
down €9,221 (-75.7%), from €12,174 to €2,953
- Taxes +€4,347
up €4,347 (+44.2%), from €9,837 to €14,185
From the 2023 result to the 2024 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,091,402 | €918,850 | -€172,551 | -15.8% |
| Fixed assets | 21/28 | €734,031 | €708,431 | -€25,600 | -3.5% |
| Tangible fixed assets | 22/27 | €733,781 | €708,181 | -€25,600 | -3.5% |
| Land and buildings | 22 | €727,775 | €705,252 | -€22,523 | -3.1% |
| Plant, machinery and equipment | 23 | €1,116 | €1,697 | +€581 | +52.1% |
| Furniture and vehicles | 24 | €4,890 | €1,231 | -€3,659 | -74.8% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €357,371 | €210,419 | -€146,951 | -41.1% |
| Amounts receivable after more than one year | 29 | €210,000 | - | -€210,000 | |
| Other amounts receivable | 291 | €210,000 | - | -€210,000 | |
| Amounts receivable within one year | 40/41 | €34,187 | €31,190 | -€2,997 | -8.8% |
| Trade receivables | 40 | - | €17,605 | +€17,605 | |
| Other amounts receivable | 41 | €34,187 | €13,586 | -€20,602 | -60.3% |
| Current investments | 50/53 | €112,395 | €177,628 | +€65,233 | +58.0% |
| Deferred charges and accrued income | 490/1 | €788 | €1,601 | +€813 | +103% |
| Total equity and liabilities | 10/49 | €1,091,402 | €918,850 | -€172,551 | -15.8% |
| Equity | 10/15 | €277,239 | €275,023 | -€2,216 | -0.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €227,644 | €227,644 | = | 0.0% |
| Reserves | 13 | €43,395 | €41,179 | -€2,216 | -5.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,396 | €2,396 | = | 0.0% |
| Distributable reserves | 133 | €39,139 | €36,923 | -€2,216 | -5.7% |
| Amounts payable | 17/49 | €814,162 | €643,827 | -€170,335 | -20.9% |
| Amounts payable after more than one year | 17 | €663,442 | €505,926 | -€157,515 | -23.7% |
| Financial debts | 170/4 | €663,442 | €505,926 | -€157,515 | -23.7% |
| Amounts payable within one year | 42/48 | €150,721 | €137,901 | -€12,820 | -8.5% |
| Current portion of amounts payable after more than one year | 42 | €39,624 | €32,442 | -€7,182 | -18.1% |
| Financial debts | 43 | €34,145 | €32,302 | -€1,843 | -5.4% |
| Credit institutions | 430/8 | €34,145 | €32,302 | -€1,843 | -5.4% |
| Trade debts | 44 | €11,652 | €11,586 | -€65 | -0.6% |
| Suppliers | 440/4 | €11,652 | €11,586 | -€65 | -0.6% |
| Taxes, remuneration and social security | 45 | €50,300 | €51,848 | +€1,548 | +3.1% |
| Taxes | 450/3 | €50,300 | €51,848 | +€1,548 | +3.1% |
| Other amounts payable | 47/48 | €15,000 | €9,723 | -€5,277 | -35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,298 | €27,380 | +€83 | +0.3% |
| Other operating charges | 640/8 | €4,067 | €4,700 | +€634 | +15.6% |
| Gross operating margin | 9900 | €200,183 | €210,480 | +€10,297 | +5.1% |
| Operating profit (loss) | 9901 | €168,819 | €178,399 | +€9,580 | +5.7% |
| Financial income | 75/76B | €12,174 | €2,953 | -€9,221 | -75.7% |
| Recurring financial income | 75 | €12,174 | €2,953 | -€9,221 | -75.7% |
| Financial charges | 65/66B | €60,694 | €19,384 | -€41,309 | -68.1% |
| Recurring financial charges | 65 | €18,425 | €19,384 | +€959 | +5.2% |
| Non-recurring financial charges | 66B | €42,268 | - | -€42,268 | |
| Profit (loss) for the period before taxes | 9903 | €120,300 | €161,969 | +€41,669 | +34.6% |
| Income taxes | 67/77 | €9,837 | €14,185 | +€4,347 | +44.2% |
| Profit (loss) for the period | 9904 | €110,463 | €147,784 | +€37,321 | +33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €110,463 | €147,784 | +€37,321 | +33.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.