INTERMACK: 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.
INTERMACK
Largest movements
- Receivables within one year -€627,028
down €627,028 (-86.6%), from €724,295 to €97,267
of which Trade receivables: -€644,403
- Cash +€478,213
up €478,213 (+885%), from €54,027 to €532,241
mainly Other debts (+€661,481) and Receivables within one year (+€627,028)
- Stocks and contracts +€180,021
up €180,021 (+27.4%), from €657,826 to €837,847
- Tangible fixed assets -€55,440
down €55,440 (-12.8%), from €434,182 to €378,741
of which Land and buildings: -€54,223
- Advances received -€673,819
no longer reported in 2025 (was €673,819)
- Other debts +€661,481
up €661,481 (+56.3%), from €1.2m to €1.8m
- Reserves +€212,696
up €212,696 (+17.6%), from €1.2m to €1.4m
of which Distributable reserves: +€212,696
- Tax, wage and social debts -€180,461
down €180,461 (-86.6%), from €208,373 to €27,911
- Gross operating margin -€110,360
down €110,360 (-18.7%), from €591,421 to €481,061
- Financial charges -€8,371
down €8,371 (-8.0%), from €104,953 to €96,582
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 | €3,803,663 | €3,783,444 | -€20,219 | -0.5% |
| Fixed assets | 21/28 | €2,367,515 | €2,312,075 | -€55,440 | -2.3% |
| Tangible fixed assets | 22/27 | €434,182 | €378,741 | -€55,440 | -12.8% |
| Land and buildings | 22 | €394,091 | €339,868 | -€54,223 | -13.8% |
| Plant, machinery and equipment | 23 | €3,515 | €2,680 | -€834 | -23.7% |
| Furniture and vehicles | 24 | €36,576 | €36,193 | -€383 | -1.0% |
| Financial fixed assets | 28 | €1,933,333 | €1,933,333 | = | 0.0% |
| Current assets | 29/58 | €1,436,148 | €1,471,369 | +€35,221 | +2.5% |
| Stocks and contracts in progress | 3 | €657,826 | €837,847 | +€180,021 | +27.4% |
| Stocks | 30/36 | €657,826 | €837,847 | +€180,021 | +27.4% |
| Amounts receivable within one year | 40/41 | €724,295 | €97,267 | -€627,028 | -86.6% |
| Trade receivables | 40 | €719,003 | €74,600 | -€644,403 | -89.6% |
| Other amounts receivable | 41 | €5,292 | €22,667 | +€17,375 | +328% |
| Cash at bank and in hand | 54/58 | €54,027 | €532,241 | +€478,213 | +885% |
| Deferred charges and accrued income | 490/1 | - | €4,015 | +€4,015 | |
| Total equity and liabilities | 10/49 | €3,803,663 | €3,783,444 | -€20,219 | -0.5% |
| Equity | 10/15 | €1,579,435 | €1,792,130 | +€212,696 | +13.5% |
| Contributions | 10/11 | €370,000 | €370,000 | = | 0.0% |
| Capital | 10 | €370,000 | €370,000 | = | 0.0% |
| Issued capital | 100 | €370,000 | €370,000 | = | 0.0% |
| Reserves | 13 | €1,209,435 | €1,422,130 | +€212,696 | +17.6% |
| Non-distributable reserves | 130/1 | €37,052 | €37,052 | = | 0.0% |
| Legal reserve | 130 | €37,052 | - | -€37,052 | |
| Reserves not available under the articles | 1311 | - | €37,052 | +€37,052 | |
| Distributable reserves | 133 | €1,172,383 | €1,385,079 | +€212,696 | +18.1% |
| Amounts payable | 17/49 | €2,224,228 | €1,991,314 | -€232,915 | -10.5% |
| Amounts payable within one year | 42/48 | €2,119,485 | €1,896,341 | -€223,144 | -10.5% |
| Trade debts | 44 | €62,626 | €32,281 | -€30,345 | -48.5% |
| Suppliers | 440/4 | €62,626 | €32,281 | -€30,345 | -48.5% |
| Advances received on contracts in progress | 46 | €673,819 | - | -€673,819 | |
| Taxes, remuneration and social security | 45 | €208,373 | €27,911 | -€180,461 | -86.6% |
| Taxes | 450/3 | €208,373 | €27,911 | -€180,461 | -86.6% |
| Other amounts payable | 47/48 | €1,174,668 | €1,836,149 | +€661,481 | +56.3% |
| Accrued charges and deferred income | 492/3 | €104,743 | €94,972 | -€9,771 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,281 | €65,433 | +€2,152 | +3.4% |
| Other operating charges | 640/8 | €2,270 | €3,580 | +€1,310 | +57.7% |
| Gross operating margin | 9900 | €591,421 | €481,061 | -€110,360 | -18.7% |
| Operating profit (loss) | 9901 | €525,870 | €412,048 | -€113,823 | -21.6% |
| Financial income | 75/76B | €104 | €675 | +€571 | +549% |
| Recurring financial income | 75 | €104 | €675 | +€571 | +549% |
| Financial charges | 65/66B | €104,953 | €96,582 | -€8,371 | -8.0% |
| Recurring financial charges | 65 | €104,953 | €96,582 | -€8,371 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €421,021 | €316,140 | -€104,881 | -24.9% |
| Income taxes | 67/77 | €108,113 | €103,445 | -€4,668 | -4.3% |
| Profit (loss) for the period | 9904 | €312,908 | €212,696 | -€100,213 | -32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €312,908 | €212,696 | -€100,213 | -32.0% |
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 20 October 2026 via checked.be.