INFIDIM: 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.
INFIDIM
Largest movements
- Deferred charges and accrued income +€126,000
new in 2025: €126,000
- Tangible fixed assets +€32,583
up €32,583 (+8.3%), from €391,435 to €424,018
of which Furniture and vehicles: +€34,253
- Financial fixed assets -€29,468
down €29,468 (-6.5%), from €456,518 to €427,050
- Cash -€22,633
down €22,633 (-29.1%), from €77,747 to €55,113
mainly Deferred charges and accrued income (-€126,000) and Contributions, distributions and other (-€80,326)
- Debts after one year +€114,326
up €114,326 (+141%), from €81,229 to €195,556
- Current portion of long-term debt +€32,858
up €32,858 (+84.2%), from €39,006 to €71,863
- Other debts -€20,958
down €20,958 (-26.0%), from €80,605 to €59,648
- Reserves -€15,902
down €15,902 (-3.9%), from €411,174 to €395,272
of which Distributable reserves: -€15,902
- Gross operating margin -€72,223
down €72,223 (-32.1%), from €224,728 to €152,504
- Taxes -€12,741
down €12,741 (-25.8%), from €49,430 to €36,689
- Staff costs -€9,901
down €9,901 (-21.5%), from €46,158 to €36,257
- Depreciation +€4,474
up €4,474 (+19.4%), from €23,095 to €27,570
- Other operating charges -€3,123
down €3,123 (-48.0%), from €6,512 to €3,389
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 | €979,534 | €1,088,166 | +€108,632 | +11.1% |
| Fixed assets | 21/28 | €847,953 | €851,068 | +€3,115 | +0.4% |
| Tangible fixed assets | 22/27 | €391,435 | €424,018 | +€32,583 | +8.3% |
| Land and buildings | 22 | €321,642 | €324,398 | +€2,756 | +0.9% |
| Plant, machinery and equipment | 23 | €44,655 | €41,168 | -€3,488 | -7.8% |
| Furniture and vehicles | 24 | €5,228 | €39,480 | +€34,253 | +655% |
| Other tangible fixed assets | 26 | €4,168 | €3,230 | -€939 | -22.5% |
| Assets under construction and advance payments | 27 | €15,743 | €15,743 | = | 0.0% |
| Financial fixed assets | 28 | €456,518 | €427,050 | -€29,468 | -6.5% |
| Current assets | 29/58 | €131,581 | €237,098 | +€105,517 | +80.2% |
| Amounts receivable within one year | 40/41 | €53,834 | €55,984 | +€2,150 | +4.0% |
| Trade receivables | 40 | €53,834 | €50,551 | -€3,284 | -6.1% |
| Other amounts receivable | 41 | - | €5,434 | +€5,434 | |
| Cash at bank and in hand | 54/58 | €77,747 | €55,113 | -€22,633 | -29.1% |
| Deferred charges and accrued income | 490/1 | - | €126,000 | +€126,000 | |
| Total equity and liabilities | 10/49 | €979,534 | €1,088,166 | +€108,632 | +11.1% |
| Equity | 10/15 | €748,691 | €732,789 | -€15,902 | -2.1% |
| Contributions | 10/11 | €6,324 | €6,324 | = | 0.0% |
| Reserves | 13 | €411,174 | €395,272 | -€15,902 | -3.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €409,314 | €393,412 | -€15,902 | -3.9% |
| Profit (loss) carried forward | 14 | €331,193 | €331,193 | = | 0.0% |
| Amounts payable | 17/49 | €230,843 | €355,376 | +€124,533 | +53.9% |
| Amounts payable after more than one year | 17 | €81,229 | €195,556 | +€114,326 | +141% |
| Financial debts | 170/4 | €81,229 | €195,556 | +€114,326 | +141% |
| Amounts payable within one year | 42/48 | €149,614 | €157,145 | +€7,531 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €39,006 | €71,863 | +€32,858 | +84.2% |
| Trade debts | 44 | €11,593 | €9,358 | -€2,234 | -19.3% |
| Suppliers | 440/4 | €11,593 | €9,358 | -€2,234 | -19.3% |
| Taxes, remuneration and social security | 45 | €18,410 | €16,275 | -€2,135 | -11.6% |
| Taxes | 450/3 | €12,395 | €16,275 | +€3,880 | +31.3% |
| Remuneration and social security | 454/9 | €6,015 | - | -€6,015 | |
| Other amounts payable | 47/48 | €80,605 | €59,648 | -€20,958 | -26.0% |
| Accrued charges and deferred income | 492/3 | - | €2,676 | +€2,676 | |
| Remuneration, social security and pensions | 62 | €46,158 | €36,257 | -€9,901 | -21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,095 | €27,570 | +€4,474 | +19.4% |
| Other operating charges | 640/8 | €6,512 | €3,389 | -€3,123 | -48.0% |
| Gross operating margin | 9900 | €224,728 | €152,504 | -€72,223 | -32.1% |
| Operating profit (loss) | 9901 | €148,963 | €85,290 | -€63,673 | -42.7% |
| Financial income | 75/76B | €19,482 | €21,397 | +€1,915 | +9.8% |
| Recurring financial income | 75 | €19,482 | €21,397 | +€1,915 | +9.8% |
| Financial charges | 65/66B | €5,158 | €5,574 | +€416 | +8.1% |
| Recurring financial charges | 65 | €5,158 | €5,574 | +€416 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | €163,287 | €101,113 | -€62,174 | -38.1% |
| Income taxes | 67/77 | €49,430 | €36,689 | -€12,741 | -25.8% |
| Profit (loss) for the period | 9904 | €113,857 | €64,424 | -€49,433 | -43.4% |
| Profit (loss) for the period to be appropriated | 9905 | €113,857 | €64,424 | -€49,433 | -43.4% |
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 17 October 2026 via checked.be.