I.FINITIVE: 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.
I.FINITIVE
Largest movements
- Receivables within one year +€45,708
up €45,708 (+28.6%), from €159,565 to €205,272
of which Trade receivables: +€43,097
- Cash -€43,342
down €43,342 (-58.7%), from €73,775 to €30,433
mainly Receivables within one year (-€45,708) and Net result for the year (-€34,374)
- Tangible fixed assets -€5,453
down €5,453 (-14.5%), from €37,566 to €32,112
of which Furniture and vehicles: -€5,507
- Trade debts +€44,333
up €44,333 (+35.3%), from €125,449 to €169,781
- Profit (loss) carried forward -€34,374
down €34,374 (-47.1%), from €73,057 to €38,683
- Tax, wage and social debts -€4,908
down €4,908 (-19.8%), from €24,845 to €19,937
of which Taxes: -€4,774
- Debts after one year -€4,813
down €4,813 (-26.3%), from €18,290 to €13,477
- Other debts -€3,216
down €3,216 (-16.1%), from €19,943 to €16,727
- Gross operating margin -€108,875
down €108,875, from €89,118 to -€19,758
- Taxes -€16,240
down €16,240 (-97.5%), from €16,657 to €417
- Depreciation +€3,180
up €3,180 (+71.8%), from €4,430 to €7,610
- Financial charges +€3,154
up €3,154 (+165.1%), from €1,911 to €5,065
- Financial income +€1,188
up €1,188 (+23303.7%), from €5 to €1,194
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €271,664 | €268,418 | -€3,246 | -1.2% |
| Fixed assets | 21/28 | €38,166 | €32,712 | -€5,453 | -14.3% |
| Tangible fixed assets | 22/27 | €37,566 | €32,112 | -€5,453 | -14.5% |
| Plant, machinery and equipment | 23 | €3,101 | €3,155 | +€53 | +1.7% |
| Furniture and vehicles | 24 | €22,915 | €17,408 | -€5,507 | -24.0% |
| Assets under construction and advance payments | 27 | €11,550 | €11,550 | = | 0.0% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €233,499 | €235,706 | +€2,207 | +0.9% |
| Amounts receivable within one year | 40/41 | €159,565 | €205,272 | +€45,708 | +28.6% |
| Trade receivables | 40 | €159,565 | €202,662 | +€43,097 | +27.0% |
| Other amounts receivable | 41 | - | €2,611 | +€2,611 | |
| Cash at bank and in hand | 54/58 | €73,775 | €30,433 | -€43,342 | -58.7% |
| Deferred charges and accrued income | 490/1 | €159 | - | -€159 | |
| Total equity and liabilities | 10/49 | €271,664 | €268,418 | -€3,246 | -1.2% |
| Equity | 10/15 | €78,057 | €43,683 | -€34,374 | -44.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €73,057 | €38,683 | -€34,374 | -47.1% |
| Amounts payable | 17/49 | €193,607 | €224,735 | +€31,128 | +16.1% |
| Amounts payable after more than one year | 17 | €18,290 | €13,477 | -€4,813 | -26.3% |
| Financial debts | 170/4 | €18,290 | €13,477 | -€4,813 | -26.3% |
| Amounts payable within one year | 42/48 | €174,838 | €211,258 | +€36,420 | +20.8% |
| Current portion of amounts payable after more than one year | 42 | €4,602 | €4,813 | +€211 | +4.6% |
| Trade debts | 44 | €125,449 | €169,781 | +€44,333 | +35.3% |
| Suppliers | 440/4 | €125,449 | €169,781 | +€44,333 | +35.3% |
| Taxes, remuneration and social security | 45 | €24,845 | €19,937 | -€4,908 | -19.8% |
| Taxes | 450/3 | €22,376 | €17,602 | -€4,774 | -21.3% |
| Remuneration and social security | 454/9 | €2,469 | €2,336 | -€133 | -5.4% |
| Other amounts payable | 47/48 | €19,943 | €16,727 | -€3,216 | -16.1% |
| Accrued charges and deferred income | 492/3 | €479 | - | -€479 | |
| Remuneration, social security and pensions | 62 | €1,493 | €1,493 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,430 | €7,610 | +€3,180 | +71.8% |
| Other operating charges | 640/8 | €535 | €1,226 | +€692 | +129.4% |
| Gross operating margin | 9900 | €89,118 | -€19,758 | -€108,875 | |
| Operating profit (loss) | 9901 | €82,661 | -€30,086 | -€112,747 | |
| Financial income | 75/76B | €5 | €1,194 | +€1,188 | +23303.7% |
| Recurring financial income | 75 | €5 | €1,194 | +€1,188 | +23303.7% |
| Financial charges | 65/66B | €1,911 | €5,065 | +€3,154 | +165.1% |
| Recurring financial charges | 65 | €1,911 | €5,065 | +€3,154 | +165.1% |
| Profit (loss) for the period before taxes | 9903 | €80,755 | -€33,957 | -€114,713 | |
| Income taxes | 67/77 | €16,657 | €417 | -€16,240 | -97.5% |
| Profit (loss) for the period | 9904 | €64,098 | -€34,374 | -€98,472 | |
| Profit (loss) for the period to be appropriated | 9905 | €64,098 | -€34,374 | -€98,472 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.