Infinigate Belgium: what changed
What changed
Infinigate Belgium
NACE 46.500, Wholesale of information and communication equipment
filed annual accounts (NBB)
Net result for the year
€508,403
2025 · -€316,983+€825,385
Equity
€257,569
2025 · -€250,834+€508,403
Cash
€4.2m
2025 · €1.2m+€3.0m
Balance sheet total
€12.9m
2025 · €11.0m+€1.9m
Largest movements
Assets
- Cash +€3.0m
up €3.0m (+241%), from €1.2m to €4.2m
mainly Trade debts (+€3.6m) and Receivables within one year (+€1.4m)
- Receivables within one year -€1.4m
down €1.4m (-17.6%), from €8.1m to €6.6m
of which Trade receivables: -€1.4m
- Deferred charges and accrued income +€249,368
up €249,368 (+54.4%), from €458,371 to €707,738
- Stocks and contracts +€219,566
up €219,566 (+53.2%), from €412,649 to €632,215
- Intangible fixed assets -€140,814
down €140,814 (-23.3%), from €604,430 to €463,615
Equity and liabilities
- Trade debts +€3.6m
up €3.6m (+67.6%), from €5.3m to €8.8m
- Other debts -€1.5m
down €1.5m (-49.7%), from €3.0m to €1.5m
- Profit (loss) carried forward +€508,403
up €508,403 (+21.9%), from -€2.3m to -€1.8m
- Accrued charges and deferred income -€349,671
down €349,671 (-25.8%), from €1.4m to €1.0m
- Tax, wage and social debts -€305,333
down €305,333 (-18.9%), from €1.6m to €1.3m
of which Taxes: -€312,776
Income statement
- Financial charges -€1.7m
down €1.7m (-34.5%), from €4.9m to €3.2m
- Financial income -€1.5m
down €1.5m (-31.0%), from €4.9m to €3.4m
- Gross operating margin +€410,620
up €410,620 (+13.0%), from €3.2m to €3.6m
- Staff costs -€166,047
down €166,047 (-5.2%), from €3.2m to €3.0m
- Taxes -€51,613
down €51,613, from €27,260 to -€24,353
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
-€316,983
Gross operating margin
+€410,620
Staff costs
+€166,047
Depreciation
-€8,373
Write-downs
+€12,725
Other operating charges
+€6,170
Financial income
-€1.5m
Financial charges
+€1.7m
Taxes
+€51,613
Result 2026
€508,403
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€3.1m
Investment
-€122,864
Financing
€0
Cash 2025
€1.2m
From operations (derived)
+€3.1m
Net result for the year
+€508,403
Depreciation
+€210,259
Stocks and contracts
-€219,566
Receivables within one year
+€1.4m
Deferred charges and accrued income
-€249,368
Trade debts
+€3.6m
Tax, wage and social debts
-€305,333
Other debts
-€1.5m
Accrued charges and deferred income
-€349,671
Investment (derived)
-€122,864
Investment in fixed assets (net)
-€122,864
Cash 2026
€4.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,987,100 | €12,922,261 | +€1.9m | +17.6% |
| Fixed assets | 21/28 | €814,181 | €726,786 | -€87,396 | -10.7% |
| Intangible fixed assets | 21 | €604,430 | €463,615 | -€140,814 | -23.3% |
| Tangible fixed assets | 22/27 | €121,457 | €174,875 | +€53,419 | +44.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €31,918 | €86,527 | +€54,609 | +171% |
| Other tangible fixed assets | 26 | €89,539 | €88,349 | -€1,190 | -1.3% |
| Financial fixed assets | 28 | €88,295 | €88,295 | = | 0.0% |
| Current assets | 29/58 | €10,172,919 | €12,195,476 | +€2.0m | +19.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €412,649 | €632,215 | +€219,566 | +53.2% |
| Stocks | 30/36 | €412,649 | €632,215 | +€219,566 | +53.2% |
| Amounts receivable within one year | 40/41 | €8,068,503 | €6,647,423 | -€1.4m | -17.6% |
| Trade receivables | 40 | €8,068,503 | €6,647,423 | -€1.4m | -17.6% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,233,397 | €4,208,099 | +€3.0m | +241% |
| Deferred charges and accrued income | 490/1 | €458,371 | €707,738 | +€249,368 | +54.4% |
| Total equity and liabilities | 10/49 | €10,987,100 | €12,922,261 | +€1.9m | +17.6% |
| Equity | 10/15 | -€250,834 | €257,569 | +€508,403 | |
| Contributions | 10/11 | €10,783 | €10,783 | = | 0.0% |
| Reserves | 13 | €2,063,953 | €2,063,953 | = | 0.0% |
| Distributable reserves | 133 | €2,063,953 | €2,063,953 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,325,570 | -€1,817,168 | +€508,403 | +21.9% |
| Amounts payable | 17/49 | €11,237,934 | €12,664,692 | +€1.4m | +12.7% |
| Amounts payable within one year | 42/48 | €9,881,412 | €11,657,842 | +€1.8m | +18.0% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €5,277,287 | €8,844,819 | +€3.6m | +67.6% |
| Suppliers | 440/4 | €5,277,287 | €8,844,819 | +€3.6m | +67.6% |
| Taxes, remuneration and social security | 45 | €1,611,869 | €1,306,536 | -€305,333 | -18.9% |
| Taxes | 450/3 | €1,243,065 | €930,289 | -€312,776 | -25.2% |
| Remuneration and social security | 454/9 | €368,804 | €376,247 | +€7,443 | +2.0% |
| Other amounts payable | 47/48 | €2,992,255 | €1,506,487 | -€1.5m | -49.7% |
| Accrued charges and deferred income | 492/3 | €1,356,522 | €1,006,851 | -€349,671 | -25.8% |
| Non-recurring operating income | 76A | €583 | €1,234 | +€651 | +112% |
| Remuneration, social security and pensions | 62 | €3,173,603 | €3,007,556 | -€166,047 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €201,886 | €210,259 | +€8,373 | +4.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,908 | -€4,817 | -€12,725 | |
| Other operating charges | 640/8 | €24,267 | €18,097 | -€6,170 | -25.4% |
| Gross operating margin | 9900 | €3,158,535 | €3,569,155 | +€410,620 | +13.0% |
| Operating profit (loss) | 9901 | -€249,129 | €338,059 | +€587,188 | |
| Financial income | 75/76B | €4,873,199 | €3,362,778 | -€1.5m | -31.0% |
| Recurring financial income | 75 | €4,873,199 | €3,362,778 | -€1.5m | -31.0% |
| Financial charges | 65/66B | €4,913,792 | €3,216,787 | -€1.7m | -34.5% |
| Recurring financial charges | 65 | €4,913,792 | €3,216,787 | -€1.7m | -34.5% |
| Profit (loss) for the period before taxes | 9903 | -€289,723 | €484,050 | +€773,772 | |
| Income taxes | 67/77 | €27,260 | -€24,353 | -€51,613 | |
| Profit (loss) for the period | 9904 | -€316,983 | €508,403 | +€825,385 | |
| Profit (loss) for the period to be appropriated | 9905 | -€316,983 | €508,403 | +€825,385 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.