INTERTRADING: 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.
What changed
INTERTRADING
NACE 46.900, Non-specialised wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €1.4m-€298,393
Equity
€4.5m
2024 · €4.2m+€306,407
Cash
€670,172
2024 · €351,790+€318,382
Balance sheet total
€7.5m
2024 · €8.0m-€461,151
Largest movements
Assets
- Stocks and contracts -€590,274
down €590,274 (-12.8%), from €4.6m to €4.0m
- Cash +€318,382
up €318,382 (+90.5%), from €351,790 to €670,172
mainly Net result for the year (+€1.1m) and Stocks and contracts (+€590,274)
- Receivables within one year -€278,058
down €278,058 (-10.4%), from €2.7m to €2.4m
of which Trade receivables: -€290,427
Equity and liabilities
- Trade debts -€648,813
down €648,813 (-24.6%), from €2.6m to €2.0m
- Reserves +€306,407
up €306,407 (+7.9%), from €3.9m to €4.2m
of which Distributable reserves: +€306,407
- Short-term financial debts -€96,261
down €96,261 (-100.0%), from €96,261 to €0
Income statement
- Goods and materials +€577,803
up €577,803 (+5.7%), from €10.1m to €10.7m
of which Change in stocks: decrease (increase): +€1.5m
- Services and other goods -€551,202
down €551,202 (-8.8%), from €6.3m to €5.7m
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.
Result 2024
€1.4m
Turnover
-€138,740
Other operating income
+€21,759
Goods and materials
-€577,803
Services and other goods
+€551,202
Staff costs
-€163,540
Depreciation
-€6,425
Write-downs
-€151,286
Provisions
+€130,000
Other operating charges
-€366
Other operating items
+€39,460
Financial income
-€108,831
Financial charges
+€5,795
Taxes
+€100,382
Result 2025
€1.1m
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.
From operations
+€1.3m
Investment
-€124,993
Financing
-€859,284
Cash 2024
€351,790
From operations (derived)
+€1.3m
Net result for the year
+€1.1m
Depreciation
+€47,706
Smaller working-capital items
+€2,254
Stocks and contracts
+€590,274
Receivables within one year
+€278,058
Deferred charges and accrued income
-€13,773
Provisions
-€65,000
Trade debts
-€648,813
Tax, wage and social debts
+€55,544
Investment (derived)
-€124,993
Investment in fixed assets (net)
-€124,993
Financing
-€859,284
Debts after one year
-€4,274
Current portion of long-term debt
-€8,748
Short-term financial debts
-€96,261
Contributions, distributions and other
-€750,000
Cash 2025
€670,172
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,986,520 | €7,525,369 | -€461,151 | -5.8% |
| Fixed assets | 21/28 | €154,029 | €231,316 | +€77,287 | +50.2% |
| Tangible fixed assets | 22/27 | €141,687 | €218,974 | +€77,287 | +54.5% |
| Plant, machinery and equipment | 23 | €37,903 | €85,804 | +€47,901 | +126.4% |
| Furniture and vehicles | 24 | €53,404 | €74,004 | +€20,600 | +38.6% |
| Leasing and similar rights | 25 | €22,175 | €12,444 | -€9,730 | -43.9% |
| Other tangible fixed assets | 26 | €28,205 | €46,721 | +€18,516 | +65.6% |
| Financial fixed assets | 28 | €12,341 | €12,341 | = | 0.0% |
| Affiliated companies | 280/1 | €6,167 | €6,167 | = | 0.0% |
| Participating interests | 280 | €6,167 | €6,167 | = | 0.0% |
| Other financial fixed assets | 284/8 | €6,175 | €6,175 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €6,175 | €6,175 | = | 0.0% |
| Current assets | 29/58 | €7,832,491 | €7,294,053 | -€538,438 | -6.9% |
| Amounts receivable after more than one year | 29 | €138,868 | €136,608 | -€2,260 | -1.6% |
| Trade receivables | 290 | €138,868 | €136,608 | -€2,260 | -1.6% |
| Stocks and contracts in progress | 3 | €4,620,150 | €4,029,877 | -€590,274 | -12.8% |
| Stocks | 30/36 | €4,620,150 | €4,029,877 | -€590,274 | -12.8% |
| Goods purchased for resale | 34 | €4,620,150 | €4,029,877 | -€590,274 | -12.8% |
| Amounts receivable within one year | 40/41 | €2,682,765 | €2,404,706 | -€278,058 | -10.4% |
| Trade receivables | 40 | €2,592,924 | €2,302,497 | -€290,427 | -11.2% |
| Other amounts receivable | 41 | €89,840 | €102,209 | +€12,369 | +13.8% |
| Cash at bank and in hand | 54/58 | €351,790 | €670,172 | +€318,382 | +90.5% |
| Deferred charges and accrued income | 490/1 | €38,918 | €52,691 | +€13,773 | +35.4% |
| Total equity and liabilities | 10/49 | €7,986,520 | €7,525,369 | -€461,151 | -5.8% |
| Equity | 10/15 | €4,190,087 | €4,496,495 | +€306,407 | +7.3% |
| Contributions | 10/11 | €319,323 | €319,323 | = | 0.0% |
| Capital | 10 | €319,323 | €319,323 | = | 0.0% |
| Issued capital | 100 | €319,323 | €319,323 | = | 0.0% |
| Reserves | 13 | €3,870,764 | €4,177,172 | +€306,407 | +7.9% |
| Non-distributable reserves | 130/1 | €31,932 | €31,932 | = | 0.0% |
| Legal reserve | 130 | €31,932 | €31,932 | = | 0.0% |
| Distributable reserves | 133 | €3,838,832 | €4,145,239 | +€306,407 | +8.0% |
| Provisions and deferred taxes | 16 | €65,000 | €0 | -€65,000 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €65,000 | €0 | -€65,000 | -100.0% |
| Other liabilities and charges | 164/5 | €65,000 | €0 | -€65,000 | -100.0% |
| Amounts payable | 17/49 | €3,731,432 | €3,028,874 | -€702,558 | -18.8% |
| Amounts payable after more than one year | 17 | €4,274 | €0 | -€4,274 | -100.0% |
| Financial debts | 170/4 | €4,274 | €0 | -€4,274 | -100.0% |
| Leasing and similar obligations | 172 | €4,274 | €0 | -€4,274 | -100.0% |
| Amounts payable within one year | 42/48 | €3,727,153 | €3,028,874 | -€698,278 | -18.7% |
| Current portion of amounts payable after more than one year | 42 | €13,022 | €4,274 | -€8,748 | -67.2% |
| Financial debts | 43 | €96,261 | €0 | -€96,261 | -100.0% |
| Credit institutions | 430/8 | €96,261 | €0 | -€96,261 | -100.0% |
| Trade debts | 44 | €2,632,477 | €1,983,664 | -€648,813 | -24.6% |
| Suppliers | 440/4 | €2,632,477 | €1,983,664 | -€648,813 | -24.6% |
| Taxes, remuneration and social security | 45 | €235,392 | €290,936 | +€55,544 | +23.6% |
| Taxes | 450/3 | €57,054 | €105,997 | +€48,943 | +85.8% |
| Remuneration and social security | 454/9 | €178,338 | €184,939 | +€6,601 | +3.7% |
| Other amounts payable | 47/48 | €750,000 | €750,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €6 | €0 | -€6 | -100.0% |
| Operating income | 70/76A | €21,339,869 | €21,260,411 | -€79,458 | -0.4% |
| Turnover | 70 | €21,266,742 | €21,128,002 | -€138,740 | -0.7% |
| Other operating income | 74 | €73,127 | €94,886 | +€21,759 | +29.8% |
| Non-recurring operating income | 76A | - | €37,523 | +€37,523 | |
| Operating charges | 60/66A | €18,052,011 | €18,268,293 | +€216,281 | +1.2% |
| Goods for resale, raw materials and consumables | 60 | €10,087,191 | €10,664,994 | +€577,803 | +5.7% |
| Purchases | 600/8 | €11,068,917 | €10,127,720 | -€941,197 | -8.5% |
| Change in stocks: decrease (increase) | 609 | -€981,726 | €537,274 | +€1.5m | |
| Services and other goods | 61 | €6,281,441 | €5,730,239 | -€551,202 | -8.8% |
| Remuneration, social security and pensions | 62 | €1,445,898 | €1,609,438 | +€163,540 | +11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,280 | €47,706 | +€6,425 | +15.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €87,576 | €238,863 | +€151,286 | +172.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €65,000 | -€65,000 | -€130,000 | |
| Other operating charges | 640/8 | €39,940 | €40,305 | +€366 | +0.9% |
| Non-recurring operating charges | 66A | €3,685 | €1,748 | -€1,937 | -52.6% |
| Operating profit (loss) | 9901 | €3,287,858 | €2,992,118 | -€295,739 | -9.0% |
| Financial income | 75/76B | €189,946 | €81,115 | -€108,831 | -57.3% |
| Recurring financial income | 75 | €189,946 | €81,115 | -€108,831 | -57.3% |
| Other financial income | 752/9 | €189,946 | €81,115 | -€108,831 | -57.3% |
| Financial charges | 65/66B | €1,653,641 | €1,647,846 | -€5,795 | -0.4% |
| Recurring financial charges | 65 | €1,653,641 | €1,647,846 | -€5,795 | -0.4% |
| Debt charges | 650 | €71,286 | €56,665 | -€14,621 | -20.5% |
| Other financial charges | 652/9 | €1,582,356 | €1,591,181 | +€8,826 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €1,824,162 | €1,425,387 | -€398,775 | -21.9% |
| Income taxes | 67/77 | €469,362 | €368,979 | -€100,382 | -21.4% |
| Taxes | 670/3 | €469,362 | €368,979 | -€100,382 | -21.4% |
| Profit (loss) for the period | 9904 | €1,354,801 | €1,056,407 | -€298,393 | -22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,354,801 | €1,056,407 | -€298,393 | -22.0% |
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 7 October 2026 via checked.be.