INFISOINS NOTARRIGO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 17 filings
Turnover
≈ €160,000
Estimated: probably between €98,000 and €290,000
Total assets
€416,675▲ 5.5%
2024 · €394,869
Net result
€22,261▼ 51.3%
2024 · €45,687
Working capital
€377,610▲ 6.9%
2024 · €353,286
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€33,253
▼ 48.7%
2025
20182025
Net result
€22,261
▼ 51.3%
2025
20182025
Equity
€386,874
▲ 6.1%
2025
20182025
Total assets
€416,675
▲ 5.5%
2025
20182025
Debt
€29,801
▼ 1.5%
2025
20182025
Working capital
€377,610
▲ 6.9%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€53,212-€44,672▼ 16.0%€53,168▲ 19.0%€98,123▲ 84.6%€48,565▼ 50.5%€31,402▼ 35.3%€64,877▲ 107%€33,253▼ 48.7%
Net result€38,454-€27,442▼ 28.6%€35,107▲ 27.9%€63,426▲ 80.7%€32,086▼ 49.4%€20,670▼ 35.6%€45,687▲ 121%€22,261▼ 51.3%
Equity€140,195-€167,637▲ 19.6%€202,744▲ 20.9%€266,170▲ 31.3%€298,256▲ 12.1%€318,926▲ 6.9%€364,613▲ 14.3%€386,874▲ 6.1%
Total assets€251,217-€295,164▲ 17.5%€323,745▲ 9.7%€299,907▼ 7.4%€350,843▲ 17.0%€357,855▲ 2.0%€394,869▲ 10.3%€416,675▲ 5.5%
Debt€111,022-€127,527▲ 14.9%€121,001▼ 5.1%€33,737▼ 72.1%€52,587▲ 55.9%€38,929▼ 26.0%€30,255▼ 22.3%€29,801▼ 1.5%
Working capital€97,615-€114,709▲ 17.5%€146,517▲ 27.7%€253,210▲ 72.8%€290,494▲ 14.7%€309,849▲ 6.7%€353,286▲ 14.0%€377,610▲ 6.9%
The operating result for 2025 is 49% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €416,675
Fixed assets
€11,123 ▼ 36.0%
Current assets
€405,553 ▲ 7.4%
Equity and liabilities €416,675
Equity
€386,874 ▲ 6.1%
Debt
€29,801 ▼ 1.5%
Debt's share of the balance-sheet total falls from 7.7% to 7.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€39,500▼
2024 · €70,992
Cash flow
€28,508▼
2024 · €51,802
Current ratio
14.51▼
2024 · 15.59
Debt to equity
0.08▼
2024 · 0.08
ROE
5.8%▼
2024 · 12.5%
ROA
5.3%▼
2024 · 11.6%
Interest coverage
59.00▼
2024 · 80.90
Debt ≤ 1 year
€27,942▲
2024 · €24,213
Debt > 1 year
€0▼
2024 · €6,042
Income taxes
€10,407▼
2024 · €18,322
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €30,269 | - | €580 | - |
| Financial fixed assets | - | €111 | - | - | - |
| Depreciation and write-downs of the year | €6,617 | €1,971 | €6,171 | €6,115 | €6,247 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €58,442 | €9,706 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,697 | €13,247 | €13,150 | €6,617 | €1,971 | €6,171 | €6,115 | €6,247 | ▲ 2.2% |
| Other operating charges640/8 | - | - | - | €948 | €1,208 | €1,311 | €854 | €872 | ▲ 2.1% |
| Gross operating margin9900 | €67,481 | €60,087 | €67,963 | €105,688 | €51,744 | €38,884 | €71,845 | €40,371 | ▼ 43.8% |
| Operating profit (loss)9901 | €53,212 | €44,672 | €53,168 | €98,123 | €48,565 | €31,402 | €64,877 | €33,253 | ▼ 48.7% |
| Financial income75/76B | - | - | - | €0 | €42 | €19 | €10 | €85 | ▲ 781% |
| Recurring financial income75 | €0 | €1 | €0 | €0 | €42 | €19 | €10 | €85 | ▲ 781% |
| Financial charges65/66B | - | - | - | €2,323 | €519 | €1,335 | €878 | €670 | ▼ 23.7% |
| Recurring financial charges65 | €3,432 | €3,362 | €3,080 | €2,323 | €519 | €1,335 | €878 | €670 | ▼ 23.7% |
| Profit (loss) for the period before taxes9903 | €49,780 | €41,311 | €50,088 | €95,801 | €48,088 | €30,086 | €64,009 | €32,668 | ▼ 49.0% |
| Income taxes67/77 | €11,326 | €13,869 | €14,981 | €32,375 | €16,002 | €9,416 | €18,322 | €10,407 | ▼ 43.2% |
| Profit (loss) for the period9904 | €38,454 | €27,442 | €35,107 | €63,426 | €32,086 | €20,670 | €45,687 | €22,261 | ▼ 51.3% |
| Profit (loss) for the period to be appropriated9905 | €38,454 | €27,442 | €35,107 | €63,426 | €32,086 | €20,670 | €45,687 | €22,261 | ▼ 51.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €251,217 | €295,164 | €323,745 | €299,907 | €350,843 | €357,855 | €394,869 | €416,675 | ▲ 5.5% |
| Fixed assets21/28 | €110,387 | €128,896 | €116,136 | €12,961 | €29,076 | €22,905 | €17,370 | €11,123 | ▼ 36.0% |
| Tangible fixed assets22/27 | €109,967 | €128,476 | €115,716 | €12,541 | €28,545 | €22,374 | €16,839 | €10,592 | ▼ 37.1% |
| Furniture and vehicles24 | - | - | - | €12,541 | €28,545 | €22,374 | €16,839 | €10,592 | ▼ 37.1% |
| Financial fixed assets28 | €420 | €420 | €420 | €420 | €531 | €531 | €531 | €531 | = |
| Current assets29/58 | €140,830 | €166,268 | €207,610 | €286,947 | €321,767 | €334,950 | €377,499 | €405,553 | ▲ 7.4% |
| Amounts receivable within one year40/41 | €125,485 | €166,104 | €205,100 | €242,723 | €293,304 | €327,778 | €366,046 | €405,212 | ▲ 10.7% |
| Trade receivables40 | - | - | - | €362 | €1,007 | €541 | €40 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €242,361 | €292,298 | €327,237 | €366,006 | €405,212 | ▲ 10.7% |
| Cash at bank and in hand54/58 | €13,882 | €165 | €2,510 | €44,224 | €28,463 | €7,173 | €10,948 | €341 | ▼ 96.9% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €504 | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €251,217 | €295,164 | €323,745 | €299,907 | €350,843 | €357,855 | €394,869 | €416,675 | ▲ 5.5% |
| Equity10/15 | €140,195 | €167,637 | €202,744 | €266,170 | €298,256 | €318,926 | €364,613 | €386,874 | ▲ 6.1% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €64,587 | €95,587 | €116,087 | €156,087 | €178,087 | ▲ 14.1% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €62,727 | €93,727 | €114,227 | €154,227 | €176,227 | ▲ 14.3% |
| Profit (loss) carried forward14 | €125,935 | €153,377 | €188,484 | €189,183 | €190,269 | €190,439 | €196,126 | €196,387 | ▲ 0.1% |
| Amounts payable17/49 | €111,022 | €127,527 | €121,001 | €33,737 | €52,587 | €38,929 | €30,255 | €29,801 | ▼ 1.5% |
| Amounts payable after more than one year17 | €67,807 | €75,968 | €59,909 | - | €21,314 | €13,827 | €6,042 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | - | €21,314 | €13,827 | €6,042 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €43,215 | €51,559 | €61,092 | €33,737 | €31,273 | €25,102 | €24,213 | €27,942 | ▲ 15.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €7,199 | €7,486 | €7,785 | €6,042 | ▼ 22.4% |
| Trade debts44 | €849 | €1,624 | €5,415 | €2,268 | €2,584 | €4,235 | €5,446 | €8,645 | ▲ 58.7% |
| Suppliers440/4 | - | - | - | €2,268 | €2,584 | €4,235 | €5,446 | €8,645 | ▲ 58.7% |
| Taxes, remuneration and social security45 | - | - | - | €22,856 | €12,877 | €4,767 | €2,368 | €4,642 | ▲ 96.0% |
| Taxes450/3 | - | - | - | €22,856 | €12,877 | €4,767 | €2,368 | €4,642 | ▲ 96.0% |
| Other amounts payable47/48 | - | - | - | €8,613 | €8,613 | €8,613 | €8,613 | €8,613 | = |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €1,859 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38,454 | €27,442 | €35,107 | €63,426 | €32,086 | €20,670 | €45,687 | €22,261 | ▼ 51.3% |
| + Depreciation and write-downs630 | €12,697 | €13,247 | €13,150 | €6,617 | €1,971 | €6,171 | €6,115 | €6,247 | ▲ 2.2% |
| Operating cash flow (approximation) | €51,151 | €40,689 | €48,257 | €70,043 | €34,057 | €26,841 | €51,802 | €28,508 | ▼ 45.0% |
| Investment in fixed assets (approximation) | - | -€31,755 | -€389 | €96,558 | -€18,086 | €0 | -€580 | €0 | - |
| Change in cash | - | -€13,718 | €2,345 | €41,714 | -€15,761 | -€21,290 | €3,776 | -€10,607 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as INFISOINS NOTARRIGO has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of INFISOINS NOTARRIGO itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 34,693 companies, not a prediction for INFISOINS NOTARRIGO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-06-2026 | 2026-00243922 | |
| 31-12-2024 | micro format | 23-06-2025 | 2025-00182566 | |
| 31-12-2023 | micro format | 21-06-2024 | 2024-00170844 | |
| 31-12-2022 | micro format | 24-07-2023 | 2023-00281354 | |
| 31-12-2021 | micro format | 01-07-2022 | 2022-20168821 | |
| 31-12-2020 | micro format | 23-07-2021 | 2021-39500422 | |
| 31-12-2019 | micro format | 17-08-2020 | 2020-41600189 | |
| 31-12-2018 | micro format | 04-07-2019 | 2019-29100341 | |
| 31-12-2017 | micro format | 03-08-2018 | 2018-43400004 | |
| 31-12-2016 | micro format | 27-07-2017 | 2017-39700376 |