INTEXPLO: 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.
INTEXPLO
Largest movements
- Financial fixed assets +€10.7m
up €10.7m (+1066992528.0%), from €1 to €10.7m
- Current investments -€2.4m
down €2.4m (-100.0%), from €2.4m to €0
- Receivables within one year +€390,747
up €390,747 (+30.7%), from €1.3m to €1.7m
of which Other amounts receivable: +€391,223
- Contributions +€6.0m
up €6.0m (+1225.0%), from €489,803 to €6.5m
- Debts after one year +€4.8m
up €4.8m (+445.1%), from €1.1m to €5.9m
- Other debts -€1.9m
down €1.9m (-69.3%), from €2.7m to €824,216
- Reserves -€144,856
down €144,856 (-13.3%), from €1.1m to €948,002
- Financial charges +€172,071
up €172,071 (+531.6%), from €32,370 to €204,442
- Financial income -€91,547
down €91,547 (-62.7%), from €146,107 to €54,560
of which Non-recurring financial income: -€100,000
- Taxes -€36,363
down €36,363 (-100.0%), from €36,363 to €0
- Gross operating margin -€6,889
down €6,889 (-5.4%), from €128,371 to €121,482
- Other operating charges +€1,421
up €1,421 (+18.5%), from €7,700 to €9,121
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,465,122 | €14,129,577 | +€8.7m | +158.5% |
| Fixed assets | 21/28 | €1,430,050 | €12,175,135 | +€10.7m | +751.4% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,430,049 | €1,505,209 | +€75,160 | +5.3% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €11,812 | €8,430 | -€3,382 | -28.6% |
| Other tangible fixed assets | 26 | €1,418,236 | €1,496,779 | +€78,542 | +5.5% |
| Financial fixed assets | 28 | €1 | €10,669,926 | +€10.7m | +1066992528.0% |
| Current assets | 29/58 | €4,035,073 | €1,954,442 | -€2.1m | -51.6% |
| Amounts receivable after more than one year | 29 | €1 | €0 | -€1 | -100.0% |
| Other amounts receivable | 291 | €1 | €0 | -€1 | -100.0% |
| Amounts receivable within one year | 40/41 | €1,273,123 | €1,663,870 | +€390,747 | +30.7% |
| Trade receivables | 40 | €632 | €156 | -€476 | -75.3% |
| Other amounts receivable | 41 | €1,272,490 | €1,663,714 | +€391,223 | +30.7% |
| Current investments | 50/53 | €2,400,000 | €0 | -€2.4m | -100.0% |
| Cash at bank and in hand | 54/58 | €360,828 | €288,047 | -€72,781 | -20.2% |
| Deferred charges and accrued income | 490/1 | €1,121 | €2,526 | +€1,405 | +125.3% |
| Total equity and liabilities | 10/49 | €5,465,122 | €14,129,577 | +€8.7m | +158.5% |
| Equity | 10/15 | €1,597,129 | €7,372,585 | +€5.8m | +361.6% |
| Contributions | 10/11 | €489,803 | €6,489,803 | +€6.0m | +1225.0% |
| Reserves | 13 | €1,092,858 | €948,002 | -€144,856 | -13.3% |
| Distributable reserves | 133 | €1,092,858 | €948,002 | -€144,856 | -13.3% |
| Profit (loss) carried forward | 14 | €14,467 | -€65,221 | -€79,688 | |
| Amounts payable | 17/49 | €3,867,993 | €6,756,992 | +€2.9m | +74.7% |
| Amounts payable after more than one year | 17 | €1,075,247 | €5,861,567 | +€4.8m | +445.1% |
| Financial debts | 170/4 | €1,075,247 | €5,861,567 | +€4.8m | +445.1% |
| Amounts payable within one year | 42/48 | €2,789,972 | €892,579 | -€1.9m | -68.0% |
| Current portion of amounts payable after more than one year | 42 | €63,631 | €64,623 | +€992 | +1.6% |
| Trade debts | 44 | €181 | €0 | -€181 | -100.0% |
| Suppliers | 440/4 | €181 | €0 | -€181 | -100.0% |
| Taxes, remuneration and social security | 45 | €37,640 | €3,740 | -€33,900 | -90.1% |
| Taxes | 450/3 | €37,640 | €3,740 | -€33,900 | -90.1% |
| Other amounts payable | 47/48 | €2,688,520 | €824,216 | -€1.9m | -69.3% |
| Accrued charges and deferred income | 492/3 | €2,774 | €2,847 | +€73 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,224 | €92,221 | -€1,003 | -1.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €1 | +€1 | |
| Other operating charges | 640/8 | €7,700 | €9,121 | +€1,421 | +18.5% |
| Gross operating margin | 9900 | €128,371 | €121,482 | -€6,889 | -5.4% |
| Operating profit (loss) | 9901 | €27,447 | €20,139 | -€7,308 | -26.6% |
| Financial income | 75/76B | €146,107 | €54,560 | -€91,547 | -62.7% |
| Recurring financial income | 75 | €46,107 | €54,560 | +€8,453 | +18.3% |
| Non-recurring financial income | 76B | €100,000 | €0 | -€100,000 | -100.0% |
| Financial charges | 65/66B | €32,370 | €204,442 | +€172,071 | +531.6% |
| Recurring financial charges | 65 | €32,370 | €204,442 | +€172,071 | +531.6% |
| Profit (loss) for the period before taxes | 9903 | €141,183 | -€129,744 | -€270,927 | |
| Income taxes | 67/77 | €36,363 | €0 | -€36,363 | -100.0% |
| Profit (loss) for the period | 9904 | €104,820 | -€129,744 | -€234,564 | |
| Profit (loss) for the period to be appropriated | 9905 | €104,820 | -€129,744 | -€234,564 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.