INTERCOSMO: 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.
INTERCOSMO
Largest movements
- Cash -€26,540
down €26,540 (-32.5%), from €81,640 to €55,100
mainly Net result for the year (-€55,240) and Other debts (-€15,037)
- Stocks and contracts -€25,531
down €25,531 (-15.5%), from €164,532 to €139,001
- Tangible fixed assets -€19,226
down €19,226 (-50.6%), from €37,976 to €18,750
of which Furniture and vehicles: -€16,898
- Receivables within one year -€15,725
down €15,725 (-47.1%), from €33,406 to €17,682
of which Trade receivables: -€8,217
- Profit (loss) carried forward -€55,240
down €55,240 (-25.1%), from -€220,402 to -€275,642
- Other debts -€15,037
down €15,037 (-5.5%), from €272,927 to €257,890
- Current portion of long-term debt -€12,794
no longer reported in 2025 (was €12,794)
- Tax, wage and social debts -€9,296
no longer reported in 2025 (was €9,296)
of which Taxes: -€6,196
- Trade debts +€3,723
up €3,723 (+13.4%), from €27,715 to €31,438
- Write-downs -€250,000
no longer reported in 2025 (was €250,000)
- Gross operating margin -€83,661
down €83,661, from €50,018 to -€33,643
- Depreciation +€823
up €823 (+4.2%), from €19,736 to €20,559
- Staff costs -€589
no longer reported in 2025 (was €589)
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 | €325,955 | €237,311 | -€88,644 | -27.2% |
| Fixed assets | 21/28 | €42,322 | €21,763 | -€20,559 | -48.6% |
| Intangible fixed assets | 21 | €3,996 | €2,663 | -€1,333 | -33.4% |
| Tangible fixed assets | 22/27 | €37,976 | €18,750 | -€19,226 | -50.6% |
| Plant, machinery and equipment | 23 | €9,828 | €7,500 | -€2,327 | -23.7% |
| Furniture and vehicles | 24 | €28,148 | €11,250 | -€16,898 | -60.0% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €283,633 | €215,548 | -€68,085 | -24.0% |
| Stocks and contracts in progress | 3 | €164,532 | €139,001 | -€25,531 | -15.5% |
| Stocks | 30/36 | €164,532 | €139,001 | -€25,531 | -15.5% |
| Amounts receivable within one year | 40/41 | €33,406 | €17,682 | -€15,725 | -47.1% |
| Trade receivables | 40 | €25,090 | €16,873 | -€8,217 | -32.8% |
| Other amounts receivable | 41 | €8,316 | €809 | -€7,508 | -90.3% |
| Cash at bank and in hand | 54/58 | €81,640 | €55,100 | -€26,540 | -32.5% |
| Deferred charges and accrued income | 490/1 | €4,055 | €3,765 | -€289 | -7.1% |
| Total equity and liabilities | 10/49 | €325,955 | €237,311 | -€88,644 | -27.2% |
| Equity | 10/15 | €3,222 | -€52,018 | -€55,240 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €205,032 | €205,032 | = | 0.0% |
| Distributable reserves | 133 | €205,032 | €205,032 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€220,402 | -€275,642 | -€55,240 | -25.1% |
| Amounts payable | 17/49 | €322,733 | €289,329 | -€33,404 | -10.4% |
| Amounts payable within one year | 42/48 | €322,733 | €289,329 | -€33,404 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €12,794 | - | -€12,794 | |
| Trade debts | 44 | €27,715 | €31,438 | +€3,723 | +13.4% |
| Suppliers | 440/4 | €27,715 | €31,438 | +€3,723 | +13.4% |
| Taxes, remuneration and social security | 45 | €9,296 | - | -€9,296 | |
| Taxes | 450/3 | €6,196 | - | -€6,196 | |
| Remuneration and social security | 454/9 | €3,100 | - | -€3,100 | |
| Other amounts payable | 47/48 | €272,927 | €257,890 | -€15,037 | -5.5% |
| Remuneration, social security and pensions | 62 | €589 | - | -€589 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,736 | €20,559 | +€823 | +4.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €250,000 | - | -€250,000 | |
| Other operating charges | 640/8 | €370 | €671 | +€300 | +81.1% |
| Gross operating margin | 9900 | €50,018 | -€33,643 | -€83,661 | |
| Operating profit (loss) | 9901 | -€220,676 | -€54,873 | +€165,804 | +75.1% |
| Financial income | 75/76B | €2,017 | €1,528 | -€488 | -24.2% |
| Recurring financial income | 75 | €2,017 | €1,528 | -€488 | -24.2% |
| Financial charges | 65/66B | €1,742 | €1,895 | +€154 | +8.8% |
| Recurring financial charges | 65 | €1,742 | €1,895 | +€154 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | -€220,402 | -€55,240 | +€165,162 | +74.9% |
| Profit (loss) for the period | 9904 | -€220,402 | -€55,240 | +€165,162 | +74.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€220,402 | -€55,240 | +€165,162 | +74.9% |
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 6 October 2026 via checked.be.