INFIGAM: 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.
INFIGAM
Largest movements
- Receivables within one year +€70,407
up €70,407 (+48.6%), from €145,002 to €215,409
of which Other amounts receivable: +€72,651
- Intangible fixed assets -€21,429
down €21,429 (-20.9%), from €102,673 to €81,245
- Profit (loss) carried forward +€35,423
up €35,423 (+189.9%), from €18,650 to €54,073
- Trade debts +€22,944
up €22,944 (+452.4%), from €5,071 to €28,015
- Debts after one year -€19,143
down €19,143 (-22.8%), from €83,999 to €64,856
- Tax, wage and social debts +€5,294
up €5,294 (+11.5%), from €45,904 to €51,197
- Short-term financial debts +€3,364
up €3,364 (+205.6%), from €1,636 to €5,000
- Gross operating margin -€46,364
down €46,364 (-34.0%), from €136,475 to €90,111
- Taxes -€25,292
down €25,292 (-66.0%), from €38,303 to €13,011
- Financial income +€5,707
up €5,707 (+152.2%), from €3,750 to €9,457
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.
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €249,795 | €299,816 | +€50,021 | +20.0% |
| Fixed assets | 21/28 | €104,793 | €84,407 | -€20,386 | -19.5% |
| Intangible fixed assets | 21 | €102,673 | €81,245 | -€21,429 | -20.9% |
| Tangible fixed assets | 22/27 | €2,120 | €3,162 | +€1,043 | +49.2% |
| Furniture and vehicles | 24 | €2,120 | €3,162 | +€1,043 | +49.2% |
| Current assets | 29/58 | €145,002 | €215,409 | +€70,407 | +48.6% |
| Amounts receivable within one year | 40/41 | €145,002 | €215,409 | +€70,407 | +48.6% |
| Trade receivables | 40 | €25,002 | €22,758 | -€2,244 | -9.0% |
| Other amounts receivable | 41 | €120,000 | €192,651 | +€72,651 | +60.5% |
| Total equity and liabilities | 10/49 | €249,795 | €299,816 | +€50,021 | +20.0% |
| Equity | 10/15 | €94,650 | €130,073 | +€35,423 | +37.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €73,500 | €73,500 | = | 0.0% |
| Distributable reserves | 133 | €73,500 | €73,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,650 | €54,073 | +€35,423 | +189.9% |
| Amounts payable | 17/49 | €155,145 | €169,743 | +€14,598 | +9.4% |
| Amounts payable after more than one year | 17 | €83,999 | €64,856 | -€19,143 | -22.8% |
| Financial debts | 170/4 | €83,999 | €64,856 | -€19,143 | -22.8% |
| Amounts payable within one year | 42/48 | €71,146 | €104,886 | +€33,740 | +47.4% |
| Current portion of amounts payable after more than one year | 42 | €18,535 | €20,674 | +€2,139 | +11.5% |
| Financial debts | 43 | €1,636 | €5,000 | +€3,364 | +205.6% |
| Credit institutions | 430/8 | €1,636 | €5,000 | +€3,364 | +205.6% |
| Trade debts | 44 | €5,071 | €28,015 | +€22,944 | +452.4% |
| Suppliers | 440/4 | €5,071 | €28,015 | +€22,944 | +452.4% |
| Taxes, remuneration and social security | 45 | €45,904 | €51,197 | +€5,294 | +11.5% |
| Taxes | 450/3 | €45,904 | €51,197 | +€5,294 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,582 | €22,951 | +€368 | +1.6% |
| Other operating charges | 640/8 | €1,085 | €539 | -€546 | -50.3% |
| Non-recurring operating charges | 66A | - | €23,945 | +€23,945 | |
| Gross operating margin | 9900 | €136,475 | €90,111 | -€46,364 | -34.0% |
| Operating profit (loss) | 9901 | €112,808 | €42,676 | -€70,132 | -62.2% |
| Financial income | 75/76B | €3,750 | €9,457 | +€5,707 | +152.2% |
| Recurring financial income | 75 | €3,750 | €9,457 | +€5,707 | +152.2% |
| Financial charges | 65/66B | €4,288 | €3,699 | -€589 | -13.7% |
| Recurring financial charges | 65 | €4,288 | €3,699 | -€589 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €112,270 | €48,434 | -€63,836 | -56.9% |
| Income taxes | 67/77 | €38,303 | €13,011 | -€25,292 | -66.0% |
| Profit (loss) for the period | 9904 | €73,968 | €35,423 | -€38,545 | -52.1% |
| Profit (loss) for the period to be appropriated | 9905 | €73,968 | €35,423 | -€38,545 | -52.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.