INTRESSA VASCULAR: 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.
What changed
INTRESSA VASCULAR
NACE 72.109, Other research and development on natural sciences
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€2.0m
2024 · -€2.6m+€547,811
Equity
€11.8m
2024 · €12.9m-€1.1m
Cash
€2.3m
2024 · €6.3m-€4.0m
Balance sheet total
€14.3m
2024 · €15.2m-€886,524
Largest movements
Assets
- Cash -€4.0m
down €4.0m (-63.3%), from €6.3m to €2.3m
mainly Investment in fixed assets (net) (-€3.9m) and Net result for the year (-€2.0m)
- Intangible fixed assets +€1.7m
up €1.7m (+23.6%), from €7.0m to €8.7m
- Current investments +€1.5m
new in 2025: €1.5m
- Receivables within one year -€172,293
down €172,293 (-22.6%), from €762,439 to €590,147
of which Other amounts receivable: -€127,416
Equity and liabilities
- Profit (loss) carried forward -€2.0m
down €2.0m (-12.1%), from -€16.6m to -€18.6m
- Investment grants +€923,693
up €923,693 (+24.0%), from €3.8m to €4.8m
Income statement
- Gross operating margin +€797,061
up €797,061, from -€172,494 to €624,567
- Depreciation +€672,267
up €672,267 (+41.8%), from €1.6m to €2.3m
- Financial income +€271,472
up €271,472 (+27.1%), from €1.0m to €1.3m
- Write-downs +€102,816
up €102,816, from -€55,652 to €47,164
- Taxes -€85,920
down €85,920 (-63.2%), from -€135,914 to -€221,834
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
-€2.6m
Gross operating margin
+€797,061
Staff costs
+€58,503
Depreciation
-€672,267
Write-downs
-€102,816
Other operating charges
+€77,427
Financial income
+€271,472
Financial charges
+€32,511
Taxes
+€85,920
Result 2025
-€2.0m
raises the resultlowers the result
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.
From operations
+€578,263
Investment
-€5.4m
Financing
+€832,049
Cash 2024
€6.3m
From operations (derived)
+€578,263
Net result for the year
-€2.0m
Depreciation
+€2.3m
Receivables after one year
-€105,327
Stocks and contracts
+€77,316
Receivables within one year
+€172,293
Deferred charges and accrued income
-€129,755
Trade debts
+€83,579
Tax, wage and social debts
+€97,736
Other debts
+€114,034
Investment (derived)
-€5.4m
Investment in fixed assets (net)
-€3.9m
Current investments
-€1.5m
Financing
+€832,049
Debts after one year
-€78,796
Current portion of long-term debt
-€12,848
Contributions, distributions and other
+€923,693
Cash 2025
€2.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,226,186 | €14,339,662 | -€886,524 | -5.8% |
| Fixed assets | 21/28 | €7,391,635 | €9,023,647 | +€1.6m | +22.1% |
| Intangible fixed assets | 21 | €7,042,269 | €8,701,167 | +€1.7m | +23.6% |
| Tangible fixed assets | 22/27 | €214,184 | €187,276 | -€26,908 | -12.6% |
| Land and buildings | 22 | - | €6,161 | +€6,161 | |
| Plant, machinery and equipment | 23 | €160,471 | €130,524 | -€29,947 | -18.7% |
| Furniture and vehicles | 24 | €34,373 | €21,213 | -€13,159 | -38.3% |
| Leasing and similar rights | 25 | €13,082 | €3,449 | -€9,633 | -73.6% |
| Assets under construction and advance payments | 27 | €6,259 | €25,928 | +€19,669 | +314% |
| Financial fixed assets | 28 | €135,182 | €135,204 | +€22 | 0.0% |
| Current assets | 29/58 | €7,834,551 | €5,316,014 | -€2.5m | -32.1% |
| Amounts receivable after more than one year | 29 | €435,034 | €540,361 | +€105,327 | +24.2% |
| Other amounts receivable | 291 | €435,034 | €540,361 | +€105,327 | +24.2% |
| Stocks and contracts in progress | 3 | €299,127 | €221,810 | -€77,316 | -25.8% |
| Stocks | 30/36 | €299,127 | €221,810 | -€77,316 | -25.8% |
| Amounts receivable within one year | 40/41 | €762,439 | €590,147 | -€172,293 | -22.6% |
| Trade receivables | 40 | €268,875 | €223,998 | -€44,877 | -16.7% |
| Other amounts receivable | 41 | €493,565 | €366,149 | -€127,416 | -25.8% |
| Current investments | 50/53 | - | €1,500,000 | +€1.5m | |
| Cash at bank and in hand | 54/58 | €6,323,996 | €2,319,987 | -€4.0m | -63.3% |
| Deferred charges and accrued income | 490/1 | €13,955 | €143,709 | +€129,755 | +930% |
| Total equity and liabilities | 10/49 | €15,226,186 | €14,339,662 | -€886,524 | -5.8% |
| Equity | 10/15 | €12,864,147 | €11,773,918 | -€1.1m | -8.5% |
| Contributions | 10/11 | €17,485,727 | €17,485,727 | = | 0.0% |
| Capital | 10 | €17,485,727 | €17,485,727 | = | 0.0% |
| Issued capital | 100 | €17,485,727 | €17,485,727 | = | 0.0% |
| Reserves | 13 | €8,152,853 | €8,152,853 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,150,994 | €8,150,994 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,615,707 | -€18,629,629 | -€2.0m | -12.1% |
| Investment grants | 15 | €3,841,274 | €4,764,968 | +€923,693 | +24.0% |
| Amounts payable | 17/49 | €2,362,039 | €2,565,743 | +€203,705 | +8.6% |
| Amounts payable after more than one year | 17 | €78,796 | - | -€78,796 | |
| Financial debts | 170/4 | €3,766 | - | -€3,766 | |
| Trade debts | 175 | €27,399 | - | -€27,399 | |
| Other amounts payable | 178/9 | €47,632 | - | -€47,632 | |
| Amounts payable within one year | 42/48 | €2,283,243 | €2,565,743 | +€282,501 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | €18,849 | €6,001 | -€12,848 | -68.2% |
| Trade debts | 44 | €690,305 | €773,884 | +€83,579 | +12.1% |
| Suppliers | 440/4 | €690,305 | €773,884 | +€83,579 | +12.1% |
| Taxes, remuneration and social security | 45 | €378,944 | €476,681 | +€97,736 | +25.8% |
| Taxes | 450/3 | €26,799 | €62,229 | +€35,429 | +132% |
| Remuneration and social security | 454/9 | €352,145 | €414,452 | +€62,307 | +17.7% |
| Other amounts payable | 47/48 | €1,195,144 | €1,309,177 | +€114,034 | +9.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | €33,024 | €0 | -€33,024 | -100% |
| Non-recurring operating income | 76A | €1,834 | €0 | -€1,834 | -100% |
| Remuneration, social security and pensions | 62 | €1,826,234 | €1,767,731 | -€58,503 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,610,042 | €2,282,309 | +€672,267 | +41.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€55,652 | €47,164 | +€102,816 | |
| Other operating charges | 640/8 | €108,393 | €30,966 | -€77,427 | -71.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€172,494 | €624,567 | +€797,061 | |
| Operating profit (loss) | 9901 | -€3,661,511 | -€3,503,603 | +€157,908 | +4.3% |
| Financial income | 75/76B | €1,001,470 | €1,272,942 | +€271,472 | +27.1% |
| Recurring financial income | 75 | €1,001,470 | €1,272,942 | +€271,472 | +27.1% |
| Financial charges | 65/66B | €37,607 | €5,096 | -€32,511 | -86.4% |
| Recurring financial charges | 65 | €37,607 | €5,096 | -€32,511 | -86.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,697,648 | -€2,235,757 | +€461,891 | +17.1% |
| Income taxes | 67/77 | -€135,914 | -€221,834 | -€85,920 | -63.2% |
| Profit (loss) for the period | 9904 | -€2,561,733 | -€2,013,922 | +€547,811 | +21.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,561,733 | -€2,013,922 | +€547,811 | +21.4% |
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 24 October 2026 via checked.be.