INTERWHEELS: 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.
INTERWHEELS
Largest movements
- Receivables after one year +€359,595
up €359,595 (+37.1%), from €970,403 to €1.3m
- Current investments -€300,000
no longer reported in 2025 (was €300,000)
- Tangible fixed assets -€173,143
down €173,143 (-4.6%), from €3.8m to €3.6m
of which Land and buildings: -€159,810
- Cash +€110,814
up €110,814 (+46.8%), from €236,753 to €347,567
mainly Current investments (+€300,000) and Depreciation (+€173,143)
- Reserves +€86,803
up €86,803 (+6.5%), from €1.3m to €1.4m
of which Distributable reserves: +€104,953
- Debts after one year -€74,282
down €74,282 (-12.9%), from €574,935 to €500,653
- Gross operating margin +€37,788
up €37,788 (+10.6%), from €355,578 to €393,367
- Depreciation -€10,714
down €10,714 (-5.8%), from €183,857 to €173,143
- Taxes +€9,698
up €9,698 (+32.7%), from €29,671 to €39,369
- Other operating charges +€9,662
up €9,662 (+11.5%), from €83,786 to €93,449
- Financial charges -€5,489
down €5,489 (-20.0%), from €27,451 to €21,962
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 | €5,393,146 | €5,391,492 | -€1,653 | 0.0% |
| Fixed assets | 21/28 | €3,767,343 | €3,596,899 | -€170,443 | -4.5% |
| Tangible fixed assets | 22/27 | €3,755,776 | €3,582,632 | -€173,143 | -4.6% |
| Land and buildings | 22 | €3,741,048 | €3,581,238 | -€159,810 | -4.3% |
| Plant, machinery and equipment | 23 | €2,195 | €938 | -€1,257 | -57.3% |
| Furniture and vehicles | 24 | €12,532 | €456 | -€12,076 | -96.4% |
| Financial fixed assets | 28 | €11,567 | €14,267 | +€2,700 | +23.3% |
| Current assets | 29/58 | €1,625,803 | €1,794,593 | +€168,790 | +10.4% |
| Amounts receivable after more than one year | 29 | €970,403 | €1,329,997 | +€359,595 | +37.1% |
| Trade receivables | 290 | €970,403 | €1,329,997 | +€359,595 | +37.1% |
| Amounts receivable within one year | 40/41 | €75,696 | €72,933 | -€2,763 | -3.7% |
| Trade receivables | 40 | €68,405 | €68,364 | -€41 | -0.1% |
| Other amounts receivable | 41 | €7,291 | €4,569 | -€2,722 | -37.3% |
| Current investments | 50/53 | €300,000 | - | -€300,000 | |
| Cash at bank and in hand | 54/58 | €236,753 | €347,567 | +€110,814 | +46.8% |
| Deferred charges and accrued income | 490/1 | €42,951 | €44,096 | +€1,144 | +2.7% |
| Total equity and liabilities | 10/49 | €5,393,146 | €5,391,492 | -€1,653 | 0.0% |
| Equity | 10/15 | €4,621,984 | €4,708,787 | +€86,803 | +1.9% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Revaluation surpluses | 12 | €588,957 | €588,957 | = | 0.0% |
| Reserves | 13 | €1,328,653 | €1,415,456 | +€86,803 | +6.5% |
| Non-distributable reserves | 130/1 | €117,583 | €117,583 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €67,583 | €67,583 | = | 0.0% |
| Tax-exempt reserves | 132 | €225,986 | €207,835 | -€18,151 | -8.0% |
| Distributable reserves | 133 | €985,084 | €1,090,037 | +€104,953 | +10.7% |
| Profit (loss) carried forward | 14 | €2,204,374 | €2,204,374 | = | 0.0% |
| Provisions and deferred taxes | 16 | €75,329 | €69,279 | -€6,050 | -8.0% |
| Deferred taxes | 168 | €75,329 | €69,279 | -€6,050 | -8.0% |
| Amounts payable | 17/49 | €695,833 | €613,427 | -€82,406 | -11.8% |
| Amounts payable after more than one year | 17 | €574,935 | €500,653 | -€74,282 | -12.9% |
| Financial debts | 170/4 | €574,935 | €500,653 | -€74,282 | -12.9% |
| Amounts payable within one year | 42/48 | €120,898 | €112,774 | -€8,124 | -6.7% |
| Current portion of amounts payable after more than one year | 42 | €86,885 | €74,282 | -€12,604 | -14.5% |
| Trade debts | 44 | €21,388 | €14,332 | -€7,056 | -33.0% |
| Suppliers | 440/4 | €21,388 | €14,332 | -€7,056 | -33.0% |
| Taxes, remuneration and social security | 45 | €12,594 | €24,160 | +€11,566 | +91.8% |
| Taxes | 450/3 | €12,594 | €24,160 | +€11,566 | +91.8% |
| Other amounts payable | 47/48 | €30 | - | -€30 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €183,857 | €173,143 | -€10,714 | -5.8% |
| Other operating charges | 640/8 | €83,786 | €93,449 | +€9,662 | +11.5% |
| Gross operating margin | 9900 | €355,578 | €393,367 | +€37,788 | +10.6% |
| Operating profit (loss) | 9901 | €87,935 | €126,775 | +€38,840 | +44.2% |
| Financial income | 75/76B | €17,129 | €15,308 | -€1,820 | -10.6% |
| Recurring financial income | 75 | €17,129 | €15,308 | -€1,820 | -10.6% |
| Financial charges | 65/66B | €27,451 | €21,962 | -€5,489 | -20.0% |
| Recurring financial charges | 65 | €27,451 | €21,962 | -€5,489 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €77,612 | €120,121 | +€42,509 | +54.8% |
| Transfer from deferred taxes | 780 | €6,050 | €6,050 | = | 0.0% |
| Income taxes | 67/77 | €29,671 | €39,369 | +€9,698 | +32.7% |
| Profit (loss) for the period | 9904 | €53,991 | €86,803 | +€32,811 | +60.8% |
| Transfer from tax-exempt reserves | 789 | €18,151 | €18,151 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €72,142 | €104,953 | +€32,811 | +45.5% |
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 2 October 2026 via checked.be.