INTERSTATE BELGIUM: 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.
INTERSTATE BELGIUM
Largest movements
- Receivables within one year -€462,706
down €462,706 (-79.2%), from €584,108 to €121,402
of which Trade receivables: -€432,505
- Cash +€204,143
up €204,143 (+2,998%), from €6,809 to €210,952
mainly Receivables within one year (+€462,706) and Accrued charges and deferred income (+€46,615)
- Intangible fixed assets -€47,130
down €47,130 (-12.1%), from €388,302 to €341,172
- Other debts -€411,308
down €411,308 (-67.5%), from €609,790 to €198,482
- Accrued charges and deferred income +€46,615
new in 2025: €46,615
- Tax, wage and social debts +€24,110
up €24,110 (+95.4%), from €25,264 to €49,374
of which Taxes: +€15,830
- Trade debts +€19,386
up €19,386 (+2,786%), from €696 to €20,082
- Profit (loss) carried forward +€15,094
up €15,094 (+8.0%), from -€189,335 to -€174,242
- Gross operating margin -€493,647
down €493,647 (-91.2%), from €541,105 to €47,458
- Write-downs -€427,812
down €427,812, from €127,488 to -€300,324
- Staff costs -€86,648
down €86,648 (-31.4%), from €276,006 to €189,359
- Depreciation +€22,797
up €22,797 (+137%), from €16,603 to €39,399
- Financial charges -€18,639
down €18,639 (-44.7%), from €41,723 to €23,085
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 | €980,499 | €674,396 | -€306,103 | -31.2% |
| Fixed assets | 21/28 | €388,555 | €341,172 | -€47,382 | -12.2% |
| Intangible fixed assets | 21 | €388,302 | €341,172 | -€47,130 | -12.1% |
| Tangible fixed assets | 22/27 | €252 | €0 | -€252 | -100% |
| Plant, machinery and equipment | 23 | €252 | €0 | -€252 | -100% |
| Current assets | 29/58 | €591,945 | €333,224 | -€258,721 | -43.7% |
| Amounts receivable within one year | 40/41 | €584,108 | €121,402 | -€462,706 | -79.2% |
| Trade receivables | 40 | €514,691 | €82,186 | -€432,505 | -84.0% |
| Other amounts receivable | 41 | €69,417 | €39,216 | -€30,201 | -43.5% |
| Cash at bank and in hand | 54/58 | €6,809 | €210,952 | +€204,143 | +2,998% |
| Deferred charges and accrued income | 490/1 | €1,027 | €870 | -€158 | -15.3% |
| Total equity and liabilities | 10/49 | €980,499 | €674,396 | -€306,103 | -31.2% |
| Equity | 10/15 | €344,750 | €359,843 | +€15,094 | +4.4% |
| Contributions | 10/11 | €532,225 | €532,225 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€189,335 | -€174,242 | +€15,094 | +8.0% |
| Amounts payable | 17/49 | €635,750 | €314,553 | -€321,197 | -50.5% |
| Amounts payable within one year | 42/48 | €635,750 | €267,938 | -€367,812 | -57.9% |
| Trade debts | 44 | €696 | €20,082 | +€19,386 | +2,786% |
| Suppliers | 440/4 | €696 | €20,082 | +€19,386 | +2,786% |
| Taxes, remuneration and social security | 45 | €25,264 | €49,374 | +€24,110 | +95.4% |
| Taxes | 450/3 | €0 | €15,830 | +€15,830 | |
| Remuneration and social security | 454/9 | €25,264 | €33,544 | +€8,280 | +32.8% |
| Other amounts payable | 47/48 | €609,790 | €198,482 | -€411,308 | -67.5% |
| Accrued charges and deferred income | 492/3 | - | €46,615 | +€46,615 | |
| Non-recurring operating income | 76A | - | €209,084 | +€209,084 | |
| Remuneration, social security and pensions | 62 | €276,006 | €189,359 | -€86,648 | -31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,603 | €39,399 | +€22,797 | +137% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €127,488 | -€300,324 | -€427,812 | |
| Other operating charges | 640/8 | €67,852 | €73,644 | +€5,792 | +8.5% |
| Non-recurring operating charges | 66A | €150,955 | €7,983 | -€142,972 | -94.7% |
| Gross operating margin | 9900 | €541,105 | €47,458 | -€493,647 | -91.2% |
| Operating profit (loss) | 9901 | -€97,798 | €37,397 | +€135,195 | |
| Financial income | 75/76B | - | €1,211 | +€1,211 | |
| Recurring financial income | 75 | - | €1,211 | +€1,211 | |
| Financial charges | 65/66B | €41,723 | €23,085 | -€18,639 | -44.7% |
| Recurring financial charges | 65 | €41,723 | €23,085 | -€18,639 | -44.7% |
| Profit (loss) for the period before taxes | 9903 | -€139,521 | €15,524 | +€155,045 | |
| Income taxes | 67/77 | €699 | €430 | -€269 | -38.5% |
| Profit (loss) for the period | 9904 | -€140,220 | €15,094 | +€155,314 | |
| Profit (loss) for the period to be appropriated | 9905 | -€140,220 | €15,094 | +€155,314 |
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 25 October 2026 via checked.be.