INTERSEAL: 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.
INTERSEAL
Largest movements
- Receivables within one year -€1.3m
down €1.3m (-57.1%), from €2.2m to €945,762
of which Trade receivables: -€1.3m
- Cash +€564,047
up €564,047 (+380.9%), from €148,080 to €712,127
mainly Receivables within one year (+€1.3m) and Net result for the year (+€196,549)
- Trade debts -€512,262
down €512,262 (-47.3%), from €1.1m to €570,980
- Profit (loss) carried forward +€115,299
up €115,299 (+17.9%), from €642,871 to €758,169
- Tax, wage and social debts -€115,199
down €115,199 (-34.3%), from €336,216 to €221,016
of which Taxes: -€122,576
- Reserves -€104,122
down €104,122 (-81.6%), from €127,622 to €23,500
- Other debts -€54,628
down €54,628 (-22.8%), from €240,000 to €185,372
- Gross operating margin -€648,318
down €648,318 (-53.6%), from €1.2m to €561,440
- Taxes -€200,132
down €200,132 (-96.0%), from €208,437 to €8,305
- Staff costs -€102,245
down €102,245 (-23.6%), from €432,389 to €330,144
- Financial charges -€14,234
down €14,234 (-36.3%), from €39,215 to €24,981
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 | €2,815,110 | €2,132,866 | -€682,244 | -24.2% |
| Fixed assets | 21/28 | €30,031 | €31,284 | +€1,253 | +4.2% |
| Tangible fixed assets | 22/27 | €30,031 | €31,284 | +€1,253 | +4.2% |
| Plant, machinery and equipment | 23 | €11,948 | €7,648 | -€4,300 | -36.0% |
| Furniture and vehicles | 24 | €18,083 | €23,637 | +€5,553 | +30.7% |
| Current assets | 29/58 | €2,785,079 | €2,101,582 | -€683,497 | -24.5% |
| Stocks and contracts in progress | 3 | €417,877 | €419,211 | +€1,335 | +0.3% |
| Stocks | 30/36 | €417,877 | €419,211 | +€1,335 | +0.3% |
| Amounts receivable within one year | 40/41 | €2,206,094 | €945,762 | -€1.3m | -57.1% |
| Trade receivables | 40 | €2,205,184 | €943,292 | -€1.3m | -57.2% |
| Other amounts receivable | 41 | €910 | €2,470 | +€1,560 | +171.4% |
| Cash at bank and in hand | 54/58 | €148,080 | €712,127 | +€564,047 | +380.9% |
| Deferred charges and accrued income | 490/1 | €13,029 | €24,482 | +€11,454 | +87.9% |
| Total equity and liabilities | 10/49 | €2,815,110 | €2,132,866 | -€682,244 | -24.2% |
| Equity | 10/15 | €795,493 | €806,669 | +€11,177 | +1.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €127,622 | €23,500 | -€104,122 | -81.6% |
| Distributable reserves | 133 | €127,622 | €23,500 | -€104,122 | -81.6% |
| Profit (loss) carried forward | 14 | €642,871 | €758,169 | +€115,299 | +17.9% |
| Amounts payable | 17/49 | €2,019,618 | €1,326,197 | -€693,421 | -34.3% |
| Amounts payable after more than one year | 17 | €330,106 | €335,955 | +€5,848 | +1.8% |
| Financial debts | 170/4 | €330,106 | €335,955 | +€5,848 | +1.8% |
| Amounts payable within one year | 42/48 | €1,659,457 | €977,368 | -€682,089 | -41.1% |
| Trade debts | 44 | €1,083,242 | €570,980 | -€512,262 | -47.3% |
| Suppliers | 440/4 | €1,083,242 | €570,980 | -€512,262 | -47.3% |
| Taxes, remuneration and social security | 45 | €336,216 | €221,016 | -€115,199 | -34.3% |
| Taxes | 450/3 | €300,123 | €177,547 | -€122,576 | -40.8% |
| Remuneration and social security | 454/9 | €36,092 | €43,470 | +€7,377 | +20.4% |
| Other amounts payable | 47/48 | €240,000 | €185,372 | -€54,628 | -22.8% |
| Accrued charges and deferred income | 492/3 | €30,054 | €12,874 | -€17,180 | -57.2% |
| Non-recurring operating income | 76A | €24,602 | - | -€24,602 | |
| Remuneration, social security and pensions | 62 | €432,389 | €330,144 | -€102,245 | -23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,178 | €9,481 | -€1,696 | -15.2% |
| Other operating charges | 640/8 | €4,707 | €2,727 | -€1,981 | -42.1% |
| Non-recurring operating charges | 66A | €368 | - | -€368 | |
| Gross operating margin | 9900 | €1,209,759 | €561,440 | -€648,318 | -53.6% |
| Operating profit (loss) | 9901 | €761,116 | €219,089 | -€542,028 | -71.2% |
| Financial income | 75/76B | €4,255 | €10,746 | +€6,491 | +152.6% |
| Recurring financial income | 75 | €4,255 | €10,746 | +€6,491 | +152.6% |
| Financial charges | 65/66B | €39,215 | €24,981 | -€14,234 | -36.3% |
| Recurring financial charges | 65 | €39,215 | €24,981 | -€14,234 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €726,156 | €204,853 | -€521,302 | -71.8% |
| Income taxes | 67/77 | €208,437 | €8,305 | -€200,132 | -96.0% |
| Profit (loss) for the period | 9904 | €517,719 | €196,549 | -€321,170 | -62.0% |
| Profit (loss) for the period to be appropriated | 9905 | €517,719 | €196,549 | -€321,170 | -62.0% |
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 5 October 2026 via checked.be.