INTERTRADE: 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.
INTERTRADE
Largest movements
- Cash -€41,838
down €41,838 (-78.4%), from €53,343 to €11,505
mainly Investment in fixed assets (net) (-€69,281) and Trade debts (-€66,388)
- Receivables within one year -€25,578
down €25,578 (-11.8%), from €216,567 to €190,988
of which Trade receivables: -€60,196
- Tangible fixed assets +€17,394
up €17,394 (+7.9%), from €219,455 to €236,849
of which Other tangible fixed assets: +€24,877
- Trade debts -€66,388
down €66,388 (-70.2%), from €94,611 to €28,223
- Reserves +€57,964
up €57,964 (+46.2%), from €125,536 to €183,500
of which Distributable reserves: +€59,823
- Advances received -€50,056
no longer reported in 2025 (was €50,056)
- Other debts +€15,000
new in 2025: €15,000
- Tax, wage and social debts -€13,867
down €13,867 (-12.8%), from €108,575 to €94,709
of which Taxes: -€32,144
- Staff costs +€133,127
up €133,127 (+46.2%), from €288,195 to €421,322
- Taxes -€34,147
down €34,147 (-54.3%), from €62,879 to €28,732
- Gross operating margin +€30,281
up €30,281 (+5.3%), from €576,636 to €606,916
- Financial charges -€19,592
down €19,592 (-36.6%), from €53,569 to €33,977
of which Non-recurring financial charges: -€20,153
- Depreciation -€14,460
down €14,460 (-21.8%), from €66,348 to €51,888
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 | €522,181 | €470,089 | -€52,092 | -10.0% |
| Fixed assets | 21/28 | €221,290 | €238,684 | +€17,394 | +7.9% |
| Tangible fixed assets | 22/27 | €219,455 | €236,849 | +€17,394 | +7.9% |
| Land and buildings | 22 | €32,652 | €29,014 | -€3,638 | -11.1% |
| Plant, machinery and equipment | 23 | €1,200 | €553 | -€648 | -54.0% |
| Furniture and vehicles | 24 | €148,566 | €150,975 | +€2,409 | +1.6% |
| Leasing and similar rights | 25 | €5,607 | - | -€5,607 | |
| Other tangible fixed assets | 26 | €31,431 | €56,308 | +€24,877 | +79.2% |
| Financial fixed assets | 28 | €1,834 | €1,834 | = | 0.0% |
| Current assets | 29/58 | €300,891 | €231,405 | -€69,486 | -23.1% |
| Amounts receivable after more than one year | 29 | €15,000 | €15,000 | = | 0.0% |
| Other amounts receivable | 291 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €216,567 | €190,988 | -€25,578 | -11.8% |
| Trade receivables | 40 | €188,563 | €128,367 | -€60,196 | -31.9% |
| Other amounts receivable | 41 | €28,004 | €62,621 | +€34,617 | +123.6% |
| Cash at bank and in hand | 54/58 | €53,343 | €11,505 | -€41,838 | -78.4% |
| Deferred charges and accrued income | 490/1 | €15,982 | €13,912 | -€2,070 | -12.9% |
| Total equity and liabilities | 10/49 | €522,181 | €470,089 | -€52,092 | -10.0% |
| Equity | 10/15 | €141,500 | €199,464 | +€57,964 | +41.0% |
| Contributions | 10/11 | €15,964 | €15,964 | = | 0.0% |
| Contributions outside capital | 11 | €15,964 | - | -€15,964 | |
| Other | 1109/19 | €15,964 | - | -€15,964 | |
| Reserves | 13 | €125,536 | €183,500 | +€57,964 | +46.2% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €123,677 | €183,500 | +€59,823 | +48.4% |
| Amounts payable | 17/49 | €380,681 | €270,625 | -€110,056 | -28.9% |
| Amounts payable after more than one year | 17 | €77,982 | €79,859 | +€1,877 | +2.4% |
| Financial debts | 170/4 | €77,982 | €79,859 | +€1,877 | +2.4% |
| Amounts payable within one year | 42/48 | €302,699 | €190,766 | -€111,933 | -37.0% |
| Current portion of amounts payable after more than one year | 42 | €49,457 | €52,834 | +€3,378 | +6.8% |
| Trade debts | 44 | €94,611 | €28,223 | -€66,388 | -70.2% |
| Suppliers | 440/4 | €94,611 | €28,223 | -€66,388 | -70.2% |
| Advances received on contracts in progress | 46 | €50,056 | - | -€50,056 | |
| Taxes, remuneration and social security | 45 | €108,575 | €94,709 | -€13,867 | -12.8% |
| Taxes | 450/3 | €78,204 | €46,059 | -€32,144 | -41.1% |
| Remuneration and social security | 454/9 | €30,371 | €48,649 | +€18,278 | +60.2% |
| Other amounts payable | 47/48 | - | €15,000 | +€15,000 | |
| Non-recurring operating income | 76A | - | €41,003 | +€41,003 | |
| Remuneration, social security and pensions | 62 | €288,195 | €421,322 | +€133,127 | +46.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,348 | €51,888 | -€14,460 | -21.8% |
| Other operating charges | 640/8 | €7,406 | €14,517 | +€7,111 | +96.0% |
| Gross operating margin | 9900 | €576,636 | €606,916 | +€30,281 | +5.3% |
| Operating profit (loss) | 9901 | €214,687 | €119,190 | -€95,497 | -44.5% |
| Financial income | 75/76B | €1,089 | €1,483 | +€393 | +36.1% |
| Recurring financial income | 75 | €1,089 | €1,483 | +€393 | +36.1% |
| Financial charges | 65/66B | €53,569 | €33,977 | -€19,592 | -36.6% |
| Recurring financial charges | 65 | €12,997 | €13,558 | +€561 | +4.3% |
| Non-recurring financial charges | 66B | €40,572 | €20,419 | -€20,153 | -49.7% |
| Profit (loss) for the period before taxes | 9903 | €162,207 | €86,696 | -€75,511 | -46.6% |
| Income taxes | 67/77 | €62,879 | €28,732 | -€34,147 | -54.3% |
| Profit (loss) for the period | 9904 | €99,328 | €57,964 | -€41,364 | -41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €99,328 | €57,964 | -€41,364 | -41.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.