INTERSECTIO: 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.
INTERSECTIO
Largest movements
- Current investments -€93,087
down €93,087 (-20.8%), from €447,472 to €354,385
- Cash -€87,509
down €87,509 (-33.8%), from €258,900 to €171,391
mainly Contributions, distributions and other (-€128,000) and Investment in fixed assets (net) (-€69,116)
- Tangible fixed assets +€39,331
up €39,331 (+39.4%), from €99,748 to €139,079
of which Other tangible fixed assets: +€51,404
- Receivables within one year -€10,197
down €10,197 (-13.6%), from €75,042 to €64,845
of which Trade receivables: -€12,129
- Reserves -€140,000
down €140,000 (-18.6%), from €752,500 to €612,500
- Current portion of long-term debt -€10,203
down €10,203 (-13.4%), from €76,203 to €66,000
- Financial income -€11,304
down €11,304 (-43.5%), from €25,978 to €14,674
- Depreciation +€3,373
up €3,373 (+10.7%), from €31,411 to €34,785
- Taxes -€2,935
down €2,935 (-88.3%), from €3,323 to €388
- Financial charges +€2,204
up €2,204 (+81.2%), from €2,715 to €4,919
- Other operating charges +€207
up €207 (+8.8%), from €2,352 to €2,559
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 | €918,884 | €762,291 | -€156,593 | -17.0% |
| Fixed assets | 21/28 | €130,507 | €164,838 | +€34,331 | +26.3% |
| Intangible fixed assets | 21 | €30,759 | €25,759 | -€5,000 | -16.3% |
| Tangible fixed assets | 22/27 | €99,748 | €139,079 | +€39,331 | +39.4% |
| Plant, machinery and equipment | 23 | €3,419 | €3,031 | -€388 | -11.4% |
| Furniture and vehicles | 24 | €94,619 | €82,934 | -€11,685 | -12.3% |
| Other tangible fixed assets | 26 | €1,710 | €53,115 | +€51,404 | +3,005% |
| Current assets | 29/58 | €788,377 | €597,453 | -€190,924 | -24.2% |
| Amounts receivable within one year | 40/41 | €75,042 | €64,845 | -€10,197 | -13.6% |
| Trade receivables | 40 | €54,222 | €42,093 | -€12,129 | -22.4% |
| Other amounts receivable | 41 | €20,820 | €22,752 | +€1,932 | +9.3% |
| Current investments | 50/53 | €447,472 | €354,385 | -€93,087 | -20.8% |
| Cash at bank and in hand | 54/58 | €258,900 | €171,391 | -€87,509 | -33.8% |
| Deferred charges and accrued income | 490/1 | €6,963 | €6,832 | -€131 | -1.9% |
| Total equity and liabilities | 10/49 | €918,884 | €762,291 | -€156,593 | -17.0% |
| Equity | 10/15 | €764,970 | €625,366 | -€139,604 | -18.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €752,500 | €612,500 | -€140,000 | -18.6% |
| Distributable reserves | 133 | €752,500 | €612,500 | -€140,000 | -18.6% |
| Profit (loss) carried forward | 14 | €70 | €466 | +€396 | +567% |
| Amounts payable | 17/49 | €153,914 | €136,926 | -€16,989 | -11.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €153,914 | €136,926 | -€16,989 | -11.0% |
| Current portion of amounts payable after more than one year | 42 | €76,203 | €66,000 | -€10,203 | -13.4% |
| Trade debts | 44 | €10,231 | €4,595 | -€5,636 | -55.1% |
| Suppliers | 440/4 | €10,231 | €4,595 | -€5,636 | -55.1% |
| Taxes, remuneration and social security | 45 | €19,701 | €22,900 | +€3,198 | +16.2% |
| Taxes | 450/3 | €18,001 | €22,900 | +€4,898 | +27.2% |
| Remuneration and social security | 454/9 | €1,700 | €0 | -€1,700 | -100% |
| Other amounts payable | 47/48 | €47,778 | €43,431 | -€4,347 | -9.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,411 | €34,785 | +€3,373 | +10.7% |
| Other operating charges | 640/8 | €2,352 | €2,559 | +€207 | +8.8% |
| Gross operating margin | 9900 | €16,344 | €16,373 | +€30 | +0.2% |
| Operating profit (loss) | 9901 | -€17,420 | -€20,971 | -€3,551 | -20.4% |
| Financial income | 75/76B | €25,978 | €14,674 | -€11,304 | -43.5% |
| Recurring financial income | 75 | €25,978 | €14,674 | -€11,304 | -43.5% |
| Financial charges | 65/66B | €2,715 | €4,919 | +€2,204 | +81.2% |
| Recurring financial charges | 65 | €2,715 | €4,919 | +€2,204 | +81.2% |
| Profit (loss) for the period before taxes | 9903 | €5,843 | -€11,216 | -€17,059 | |
| Income taxes | 67/77 | €3,323 | €388 | -€2,935 | -88.3% |
| Profit (loss) for the period | 9904 | €2,520 | -€11,604 | -€14,124 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,520 | -€11,604 | -€14,124 |
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 13 October 2026 via checked.be.