Intrabel nv: 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.
Intrabel nv
Largest movements
- Current investments +€147,677
up €147,677 (+29.7%), from €497,587 to €645,264
- Receivables within one year +€109,704
up €109,704 (+30.7%), from €357,559 to €467,263
of which Trade receivables: +€105,194
- Cash +€81,514
up €81,514 (+54.0%), from €150,885 to €232,399
mainly Net result for the year (+€246,016) and Depreciation (+€157,895)
- Tangible fixed assets -€47,489
down €47,489 (-14.4%), from €328,694 to €281,205
of which Plant, machinery and equipment: -€43,063
- Reserves +€246,016
up €246,016 (+51.2%), from €480,846 to €726,862
of which Distributable reserves: +€246,016
- Tax, wage and social debts +€55,983
up €55,983 (+332%), from €16,850 to €72,834
- Trade debts -€35,544
down €35,544 (-24.6%), from €144,201 to €108,657
- Debts after one year +€21,341
up €21,341 (+28.6%), from €74,527 to €95,868
- Other operating charges -€104,557
down €104,557 (-43.8%), from €238,981 to €134,424
- Gross operating margin +€54,562
up €54,562 (+9.1%), from €599,351 to €653,913
- Taxes +€53,423
up €53,423 (+92.8%), from €57,577 to €111,000
- Depreciation +€23,011
up €23,011 (+17.1%), from €134,884 to €157,895
- Financial income -€7,939
down €7,939 (-99.8%), from €7,954 to €15
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 | €1,344,034 | €1,634,102 | +€290,068 | +21.6% |
| Fixed assets | 21/28 | €328,694 | €281,205 | -€47,489 | -14.4% |
| Tangible fixed assets | 22/27 | €328,694 | €281,205 | -€47,489 | -14.4% |
| Plant, machinery and equipment | 23 | €316,753 | €273,689 | -€43,063 | -13.6% |
| Furniture and vehicles | 24 | €11,941 | €7,516 | -€4,425 | -37.1% |
| Current assets | 29/58 | €1,015,340 | €1,352,897 | +€337,557 | +33.2% |
| Amounts receivable within one year | 40/41 | €357,559 | €467,263 | +€109,704 | +30.7% |
| Trade receivables | 40 | €52,001 | €157,196 | +€105,194 | +202% |
| Other amounts receivable | 41 | €305,558 | €310,067 | +€4,509 | +1.5% |
| Current investments | 50/53 | €497,587 | €645,264 | +€147,677 | +29.7% |
| Cash at bank and in hand | 54/58 | €150,885 | €232,399 | +€81,514 | +54.0% |
| Deferred charges and accrued income | 490/1 | €9,309 | €7,971 | -€1,339 | -14.4% |
| Total equity and liabilities | 10/49 | €1,344,034 | €1,634,102 | +€290,068 | +21.6% |
| Equity | 10/15 | €542,846 | €788,862 | +€246,016 | +45.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €480,846 | €726,862 | +€246,016 | +51.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €474,646 | €720,662 | +€246,016 | +51.8% |
| Amounts payable | 17/49 | €801,189 | €845,241 | +€44,052 | +5.5% |
| Amounts payable after more than one year | 17 | €74,527 | €95,868 | +€21,341 | +28.6% |
| Financial debts | 170/4 | €74,527 | €95,868 | +€21,341 | +28.6% |
| Amounts payable within one year | 42/48 | €724,218 | €749,358 | +€25,140 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €17,609 | €32,787 | +€15,178 | +86.2% |
| Trade debts | 44 | €144,201 | €108,657 | -€35,544 | -24.6% |
| Suppliers | 440/4 | €144,201 | €108,657 | -€35,544 | -24.6% |
| Taxes, remuneration and social security | 45 | €16,850 | €72,834 | +€55,983 | +332% |
| Taxes | 450/3 | €16,850 | €72,834 | +€55,983 | +332% |
| Other amounts payable | 47/48 | €545,558 | €535,080 | -€10,478 | -1.9% |
| Accrued charges and deferred income | 492/3 | €2,443 | €14 | -€2,430 | -99.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,884 | €157,895 | +€23,011 | +17.1% |
| Other operating charges | 640/8 | €238,981 | €134,424 | -€104,557 | -43.8% |
| Gross operating margin | 9900 | €599,351 | €653,913 | +€54,562 | +9.1% |
| Operating profit (loss) | 9901 | €225,486 | €361,594 | +€136,109 | +60.4% |
| Financial income | 75/76B | €7,954 | €15 | -€7,939 | -99.8% |
| Recurring financial income | 75 | €7,954 | €15 | -€7,939 | -99.8% |
| Financial charges | 65/66B | €2,821 | €4,593 | +€1,772 | +62.8% |
| Recurring financial charges | 65 | €2,821 | €4,593 | +€1,772 | +62.8% |
| Profit (loss) for the period before taxes | 9903 | €230,618 | €357,016 | +€126,398 | +54.8% |
| Income taxes | 67/77 | €57,577 | €111,000 | +€53,423 | +92.8% |
| Profit (loss) for the period | 9904 | €173,041 | €246,016 | +€72,975 | +42.2% |
| Profit (loss) for the period to be appropriated | 9905 | €173,041 | €246,016 | +€72,975 | +42.2% |
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 23 October 2026 via checked.be.