GHISLAIN INFI: 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.
GHISLAIN INFI
Largest movements
- Receivables within one year +€16,809
up €16,809 (+155%), from €10,855 to €27,664
- Tangible fixed assets -€5,125
down €5,125 (-45.4%), from €11,297 to €6,172
- Intangible fixed assets -€2,302
down €2,302 (-10.9%), from €21,030 to €18,727
- Cash +€1,314
up €1,314 (+854%), from €154 to €1,467
mainly Depreciation (+€7,844) and Tax, wage and social debts (+€6,161)
- Tax, wage and social debts +€6,161
up €6,161 (+162%), from €3,794 to €9,956
- Profit (loss) carried forward +€3,191
up €3,191 (+91.7%), from €3,479 to €6,670
- Trade debts +€2,765
up €2,765 (+946%), from €292 to €3,057
- Short-term financial debts -€1,839
no longer reported in 2025 (was €1,839)
- Gross operating margin -€17,857
down €17,857 (-41.4%), from €43,163 to €25,306
- Staff costs -€8,221
down €8,221 (-98.2%), from €8,371 to €150
- Other operating charges +€4,275
up €4,275 (+601%), from €711 to €4,986
- Financial charges +€2,938
up €2,938 (+2,310%), from €127 to €3,065
- Taxes -€1,866
down €1,866 (-23.5%), from €7,935 to €6,069
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 | €44,764 | €55,043 | +€10,279 | +23.0% |
| Formation expenses | 20 | €1,319 | €902 | -€417 | -31.6% |
| Fixed assets | 21/28 | €32,437 | €25,009 | -€7,427 | -22.9% |
| Intangible fixed assets | 21 | €21,030 | €18,727 | -€2,302 | -10.9% |
| Tangible fixed assets | 22/27 | €11,297 | €6,172 | -€5,125 | -45.4% |
| Furniture and vehicles | 24 | €11,297 | €6,172 | -€5,125 | -45.4% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €11,009 | €29,132 | +€18,123 | +165% |
| Amounts receivable within one year | 40/41 | €10,855 | €27,664 | +€16,809 | +155% |
| Other amounts receivable | 41 | €10,855 | €27,664 | +€16,809 | +155% |
| Cash at bank and in hand | 54/58 | €154 | €1,467 | +€1,314 | +854% |
| Total equity and liabilities | 10/49 | €44,764 | €55,043 | +€10,279 | +23.0% |
| Equity | 10/15 | €38,839 | €42,030 | +€3,191 | +8.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €31,360 | €31,360 | = | 0.0% |
| Distributable reserves | 133 | €31,360 | €31,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,479 | €6,670 | +€3,191 | +91.7% |
| Amounts payable | 17/49 | €5,925 | €13,013 | +€7,088 | +120% |
| Amounts payable within one year | 42/48 | €5,925 | €13,013 | +€7,088 | +120% |
| Financial debts | 43 | €1,839 | - | -€1,839 | |
| Credit institutions | 430/8 | €1,839 | - | -€1,839 | |
| Trade debts | 44 | €292 | €3,057 | +€2,765 | +946% |
| Suppliers | 440/4 | €292 | €3,057 | +€2,765 | +946% |
| Taxes, remuneration and social security | 45 | €3,794 | €9,956 | +€6,161 | +162% |
| Taxes | 450/3 | €3,794 | €9,956 | +€6,161 | +162% |
| Remuneration, social security and pensions | 62 | €8,371 | €150 | -€8,221 | -98.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,540 | €7,844 | +€304 | +4.0% |
| Other operating charges | 640/8 | €711 | €4,986 | +€4,275 | +601% |
| Gross operating margin | 9900 | €43,163 | €25,306 | -€17,857 | -41.4% |
| Operating profit (loss) | 9901 | €26,541 | €12,326 | -€14,215 | -53.6% |
| Financial charges | 65/66B | €127 | €3,065 | +€2,938 | +2,310% |
| Recurring financial charges | 65 | €127 | €3,065 | +€2,938 | +2,310% |
| Profit (loss) for the period before taxes | 9903 | €26,414 | €9,260 | -€17,154 | -64.9% |
| Income taxes | 67/77 | €7,935 | €6,069 | -€1,866 | -23.5% |
| Profit (loss) for the period | 9904 | €18,479 | €3,191 | -€15,288 | -82.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,479 | €3,191 | -€15,288 | -82.7% |
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.