INTIVO: 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.
INTIVO
Largest movements
- Stocks and contracts -€197,968
down €197,968 (-37.2%), from €531,586 to €333,618
- Cash +€68,396
up €68,396 (+3,422%), from €1,999 to €70,395
mainly Stocks and contracts (+€197,968) and Net result for the year (+€69,187)
- Receivables within one year +€12,341
up €12,341 (+285%), from €4,328 to €16,669
of which Trade receivables: +€13,083
- Short-term financial debts -€175,000
down €175,000 (-100%), from €175,000 to €0
- Profit (loss) carried forward +€43,059
up €43,059, from -€43,059 to €0
- Other debts -€26,239
down €26,239 (-13.2%), from €198,703 to €172,464
- Reserves +€26,129
up €26,129 (+13.1%), from €198,883 to €225,011
- Tax, wage and social debts +€16,204
up €16,204 (+2,332%), from €695 to €16,899
- Gross operating margin +€113,626
up €113,626, from -€15,670 to €97,956
- Taxes +€15,776
up €15,776 (+3,957%), from €399 to €16,175
- Financial charges +€8,613
up €8,613 (+15,505%), from €56 to €8,669
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 | €541,249 | €421,755 | -€119,494 | -22.1% |
| Fixed assets | 21/28 | €2,667 | €1,073 | -€1,594 | -59.8% |
| Tangible fixed assets | 22/27 | €2,667 | €667 | -€2,000 | -75.0% |
| Plant, machinery and equipment | 23 | €2,667 | €667 | -€2,000 | -75.0% |
| Financial fixed assets | 28 | - | €406 | +€406 | |
| Current assets | 29/58 | €538,582 | €420,682 | -€117,900 | -21.9% |
| Stocks and contracts in progress | 3 | €531,586 | €333,618 | -€197,968 | -37.2% |
| Stocks | 30/36 | €531,586 | €333,618 | -€197,968 | -37.2% |
| Amounts receivable within one year | 40/41 | €4,328 | €16,669 | +€12,341 | +285% |
| Trade receivables | 40 | €1,473 | €14,556 | +€13,083 | +888% |
| Other amounts receivable | 41 | €2,855 | €2,113 | -€742 | -26.0% |
| Cash at bank and in hand | 54/58 | €1,999 | €70,395 | +€68,396 | +3,422% |
| Deferred charges and accrued income | 490/1 | €670 | €0 | -€670 | -100% |
| Total equity and liabilities | 10/49 | €541,249 | €421,755 | -€119,494 | -22.1% |
| Equity | 10/15 | €162,824 | €232,011 | +€69,187 | +42.5% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €198,883 | €225,011 | +€26,129 | +13.1% |
| Distributable reserves | 133 | €198,883 | €225,011 | +€26,129 | +13.1% |
| Profit (loss) carried forward | 14 | -€43,059 | €0 | +€43,059 | |
| Amounts payable | 17/49 | €378,425 | €189,743 | -€188,682 | -49.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €378,425 | €189,743 | -€188,682 | -49.9% |
| Financial debts | 43 | €175,000 | €0 | -€175,000 | -100% |
| Credit institutions | 430/8 | €175,000 | €0 | -€175,000 | -100% |
| Trade debts | 44 | €4,027 | €380 | -€3,647 | -90.6% |
| Suppliers | 440/4 | €4,027 | €380 | -€3,647 | -90.6% |
| Taxes, remuneration and social security | 45 | €695 | €16,899 | +€16,204 | +2,332% |
| Taxes | 450/3 | €695 | €16,899 | +€16,204 | +2,332% |
| Other amounts payable | 47/48 | €198,703 | €172,464 | -€26,239 | -13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,000 | €2,000 | = | 0.0% |
| Other operating charges | 640/8 | €2,593 | €2,562 | -€31 | -1.2% |
| Gross operating margin | 9900 | -€15,670 | €97,956 | +€113,626 | |
| Operating profit (loss) | 9901 | -€20,263 | €93,394 | +€113,657 | |
| Financial income | 75/76B | €48 | €637 | +€589 | +1,237% |
| Recurring financial income | 75 | €48 | €637 | +€589 | +1,237% |
| Financial charges | 65/66B | €56 | €8,669 | +€8,613 | +15,505% |
| Recurring financial charges | 65 | €56 | €8,669 | +€8,613 | +15,505% |
| Profit (loss) for the period before taxes | 9903 | -€20,271 | €85,362 | +€105,633 | |
| Income taxes | 67/77 | €399 | €16,175 | +€15,776 | +3,957% |
| Profit (loss) for the period | 9904 | -€20,670 | €69,187 | +€89,857 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,670 | €69,187 | +€89,857 |
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 17 October 2026 via checked.be.