InFaSerV: 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.
InFaSerV
Largest movements
- Cash +€38,280
up €38,280 (+94.6%), from €40,455 to €78,735
mainly Net result for the year (+€46,005) and Depreciation (+€31,488)
- Tangible fixed assets -€16,701
down €16,701 (-9.5%), from €176,160 to €159,459
of which Land and buildings: -€14,561
- Deferred charges and accrued income +€5,697
up €5,697 (+192%), from €2,972 to €8,669
- Other debts +€31,159
up €31,159 (+24.2%), from €128,545 to €159,703
- Debts after one year -€13,333
down €13,333 (-18.2%), from €73,332 to €59,999
- Reserves +€10,582
up €10,582 (+6.1%), from €172,284 to €182,866
- Gross operating margin +€17,489
up €17,489 (+19.8%), from €88,224 to €105,713
- Taxes +€5,999
up €5,999 (+48.0%), from €12,504 to €18,503
- Financial income +€3,398
up €3,398 (+335%), from €1,014 to €4,412
of which Financial income: +€3,497
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 | €407,526 | €435,158 | +€27,633 | +6.8% |
| Fixed assets | 21/28 | €176,160 | €159,459 | -€16,701 | -9.5% |
| Tangible fixed assets | 22/27 | €176,160 | €159,459 | -€16,701 | -9.5% |
| Land and buildings | 22 | €130,966 | €116,405 | -€14,561 | -11.1% |
| Plant, machinery and equipment | 23 | €4,498 | €4,016 | -€482 | -10.7% |
| Furniture and vehicles | 24 | €39,121 | €37,606 | -€1,516 | -3.9% |
| Other tangible fixed assets | 26 | €1,575 | €1,431 | -€143 | -9.1% |
| Current assets | 29/58 | €231,366 | €275,700 | +€44,334 | +19.2% |
| Amounts receivable within one year | 40/41 | - | €497 | +€497 | |
| Other amounts receivable | 41 | - | €497 | +€497 | |
| Current investments | 50/53 | €187,939 | €187,799 | -€140 | -0.1% |
| Cash at bank and in hand | 54/58 | €40,455 | €78,735 | +€38,280 | +94.6% |
| Deferred charges and accrued income | 490/1 | €2,972 | €8,669 | +€5,697 | +192% |
| Total equity and liabilities | 10/49 | €407,526 | €435,158 | +€27,633 | +6.8% |
| Equity | 10/15 | €178,484 | €189,066 | +€10,582 | +5.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €172,284 | €182,866 | +€10,582 | +6.1% |
| Distributable reserves | 133 | €172,284 | €182,866 | +€10,582 | +6.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €229,042 | €246,092 | +€17,051 | +7.4% |
| Amounts payable after more than one year | 17 | €73,332 | €59,999 | -€13,333 | -18.2% |
| Financial debts | 170/4 | €73,332 | €59,999 | -€13,333 | -18.2% |
| Amounts payable within one year | 42/48 | €147,153 | €177,920 | +€30,767 | +20.9% |
| Current portion of amounts payable after more than one year | 42 | €13,333 | €13,333 | = | 0.0% |
| Trade debts | 44 | €1,376 | €1,714 | +€337 | +24.5% |
| Suppliers | 440/4 | €1,376 | €1,714 | +€337 | +24.5% |
| Taxes, remuneration and social security | 45 | €3,898 | €3,170 | -€729 | -18.7% |
| Taxes | 450/3 | €3,898 | €3,170 | -€729 | -18.7% |
| Other amounts payable | 47/48 | €128,545 | €159,703 | +€31,159 | +24.2% |
| Accrued charges and deferred income | 492/3 | €8,556 | €8,173 | -€383 | -4.5% |
| Non-recurring operating income | 76A | - | €5,304 | +€5,304 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,095 | €31,488 | -€607 | -1.9% |
| Other operating charges | 640/8 | €3,650 | €4,404 | +€754 | +20.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €88,224 | €105,713 | +€17,489 | +19.8% |
| Operating profit (loss) | 9901 | €52,479 | €69,821 | +€17,342 | +33.0% |
| Financial income | 75/76B | €1,014 | €4,412 | +€3,398 | +335% |
| Recurring financial income | 75 | €915 | €4,412 | +€3,497 | +382% |
| Non-recurring financial income | 76B | €99 | €0 | -€99 | -100% |
| Financial charges | 65/66B | €10,154 | €9,724 | -€430 | -4.2% |
| Recurring financial charges | 65 | €10,154 | €9,724 | -€430 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €43,338 | €64,509 | +€21,171 | +48.9% |
| Income taxes | 67/77 | €12,504 | €18,503 | +€5,999 | +48.0% |
| Profit (loss) for the period | 9904 | €30,834 | €46,005 | +€15,172 | +49.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,834 | €46,005 | +€15,172 | +49.2% |
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 23 October 2026 via checked.be.