INTERSOURCING: 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.
INTERSOURCING
Largest movements
- Cash -€67,229
down €67,229 (-58.1%), from €115,760 to €48,531
mainly Trade debts (-€38,229) and Debts after one year (-€26,556)
- Tangible fixed assets -€17,204
down €17,204 (-16.6%), from €103,332 to €86,128
of which Other tangible fixed assets: -€15,567
- Intangible fixed assets +€12,325
new in 2025: €12,325
- Stocks and contracts -€11,267
down €11,267 (-6.8%), from €166,839 to €155,573
- Receivables within one year -€7,430
down €7,430 (-9.3%), from €80,211 to €72,781
of which Other amounts receivable: -€7,471
- Trade debts -€38,229
down €38,229 (-32.5%), from €117,528 to €79,299
- Debts after one year -€26,556
down €26,556 (-24.4%), from €108,634 to €82,077
- Advances received -€24,940
no longer reported in 2025 (was €24,940)
- Profit (loss) carried forward +€19,488
up €19,488 (+73.7%), from €26,428 to €45,916
- Current portion of long-term debt -€11,689
down €11,689 (-28.1%), from €41,625 to €29,936
- Other operating charges +€33,156
up €33,156 (+2739.8%), from €1,210 to €34,366
- Gross operating margin +€12,469
up €12,469 (+16.1%), from €77,650 to €90,119
- Taxes +€8,605
up €8,605 (+6453.6%), from €133 to €8,738
- Financial charges -€8,467
down €8,467 (-46.7%), from €18,120 to €9,653
- Depreciation +€4,414
up €4,414 (+32.9%), from €13,415 to €17,829
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 | €469,959 | €380,953 | -€89,006 | -18.9% |
| Fixed assets | 21/28 | €104,306 | €100,427 | -€3,879 | -3.7% |
| Intangible fixed assets | 21 | - | €12,325 | +€12,325 | |
| Tangible fixed assets | 22/27 | €103,332 | €86,128 | -€17,204 | -16.6% |
| Furniture and vehicles | 24 | €3,164 | €1,527 | -€1,637 | -51.7% |
| Other tangible fixed assets | 26 | €100,168 | €84,601 | -€15,567 | -15.5% |
| Financial fixed assets | 28 | €974 | €1,974 | +€1,000 | +102.7% |
| Current assets | 29/58 | €365,653 | €280,526 | -€85,127 | -23.3% |
| Stocks and contracts in progress | 3 | €166,839 | €155,573 | -€11,267 | -6.8% |
| Stocks | 30/36 | €166,839 | €155,573 | -€11,267 | -6.8% |
| Amounts receivable within one year | 40/41 | €80,211 | €72,781 | -€7,430 | -9.3% |
| Trade receivables | 40 | €49,240 | €49,281 | +€40 | +0.1% |
| Other amounts receivable | 41 | €30,971 | €23,500 | -€7,471 | -24.1% |
| Cash at bank and in hand | 54/58 | €115,760 | €48,531 | -€67,229 | -58.1% |
| Deferred charges and accrued income | 490/1 | €2,843 | €3,641 | +€799 | +28.1% |
| Total equity and liabilities | 10/49 | €469,959 | €380,953 | -€89,006 | -18.9% |
| Equity | 10/15 | €122,960 | €142,448 | +€19,488 | +15.8% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €34,033 | €34,033 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €27,783 | €27,783 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,428 | €45,916 | +€19,488 | +73.7% |
| Amounts payable | 17/49 | €346,998 | €238,504 | -€108,494 | -31.3% |
| Amounts payable after more than one year | 17 | €108,634 | €82,077 | -€26,556 | -24.4% |
| Financial debts | 170/4 | €108,634 | €82,077 | -€26,556 | -24.4% |
| Amounts payable within one year | 42/48 | €238,364 | €156,345 | -€82,019 | -34.4% |
| Current portion of amounts payable after more than one year | 42 | €41,625 | €29,936 | -€11,689 | -28.1% |
| Trade debts | 44 | €117,528 | €79,299 | -€38,229 | -32.5% |
| Suppliers | 440/4 | €117,528 | €79,299 | -€38,229 | -32.5% |
| Advances received on contracts in progress | 46 | €24,940 | - | -€24,940 | |
| Taxes, remuneration and social security | 45 | €32,229 | €24,869 | -€7,360 | -22.8% |
| Taxes | 450/3 | €32,229 | €24,869 | -€7,360 | -22.8% |
| Other amounts payable | 47/48 | €22,043 | €22,241 | +€198 | +0.9% |
| Accrued charges and deferred income | 492/3 | - | €82 | +€82 | |
| Remuneration, social security and pensions | 62 | - | €250 | +€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,415 | €17,829 | +€4,414 | +32.9% |
| Other operating charges | 640/8 | €1,210 | €34,366 | +€33,156 | +2739.8% |
| Gross operating margin | 9900 | €77,650 | €90,119 | +€12,469 | +16.1% |
| Operating profit (loss) | 9901 | €63,025 | €37,674 | -€25,351 | -40.2% |
| Financial income | 75/76B | €386 | €205 | -€182 | -47.0% |
| Recurring financial income | 75 | €386 | €205 | -€182 | -47.0% |
| Financial charges | 65/66B | €18,120 | €9,653 | -€8,467 | -46.7% |
| Recurring financial charges | 65 | €18,120 | €9,653 | -€8,467 | -46.7% |
| Profit (loss) for the period before taxes | 9903 | €45,291 | €28,226 | -€17,065 | -37.7% |
| Income taxes | 67/77 | €133 | €8,738 | +€8,605 | +6453.6% |
| Profit (loss) for the period | 9904 | €45,158 | €19,488 | -€25,670 | -56.8% |
| Profit (loss) for the period to be appropriated | 9905 | €45,158 | €19,488 | -€25,670 | -56.8% |
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 4 October 2026 via checked.be.