INFINITY PHARMA: 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.
What changed
INFINITY PHARMA
NACE 46.460, Wholesale of pharmaceutical and medical goods
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€231,419
2024 · -€822,517+€591,098
Equity
€16.4m
2024 · €12.6m+€3.8m
Cash
€688,336
2024 · €164,043+€524,292
Balance sheet total
€18.8m
2024 · €16.0m+€2.8m
Largest movements
Assets
- Financial fixed assets +€3.0m
up €3.0m (+25.0%), from €12.0m to €15.0m
of which Affiliated companies: +€3.0m
- Cash +€524,292
up €524,292 (+319.6%), from €164,043 to €688,336
mainly Contributions, distributions and other (+€4.0m) and Receivables within one year (+€474,940)
- Receivables within one year -€474,940
down €474,940 (-65.1%), from €729,162 to €254,222
of which Trade receivables: -€316,257
Equity and liabilities
- Contributions +€4.0m
up €4.0m (+43.0%), from €9.3m to €13.3m
- Reserves -€822,517
down €822,517 (-19.8%), from €4.2m to €3.3m
of which Distributable reserves: -€822,517
- Other debts -€654,704
down €654,704 (-100.0%), from €654,808 to €104
- Profit (loss) carried forward +€591,098
up €591,098 (+71.9%), from -€822,517 to -€231,419
Income statement
- Financial charges -€1.5m
down €1.5m (-81.9%), from €1.8m to €322,561
- Financial income -€1.3m
down €1.3m (-88.7%), from €1.5m to €167,254
of which Financial income: -€1.3m
- Staff costs -€559,836
down €559,836 (-27.5%), from €2.0m to €1.5m
- Services and other goods +€488,365
up €488,365 (+16.3%), from €3.0m to €3.5m
- Goods and materials +€237,559
up €237,559 (+3.9%), from €6.1m to €6.3m
of which Change in stocks: decrease (increase): +€373,014
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.
Result 2024
-€822,517
Turnover
+€59,646
Other operating income
-€71,500
Goods and materials
-€237,559
Services and other goods
-€488,365
Staff costs
+€559,836
Depreciation
+€25,398
Write-downs
+€227,314
Other operating charges
-€80,527
Other operating items
+€464,149
Financial income
-€1.3m
Financial charges
+€1.5m
Taxes
-€4,581
Result 2025
-€231,419
Cash bridge derived
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.
From operations
-€469,759
Investment
-€3.0m
Financing
+€4.0m
Cash 2024
€164,043
From operations (derived)
-€469,759
Net result for the year
-€231,419
Depreciation
+€91,708
Stocks and contracts
+€143,496
Receivables within one year
+€474,940
Deferred charges and accrued income
-€20,381
Trade debts
-€134,357
Tax, wage and social debts
-€139,042
Other debts
-€654,704
Investment (derived)
-€3.0m
Investment in fixed assets (net)
-€3.0m
Financing
+€4.0m
Contributions, distributions and other
+€4.0m
Cash 2025
€688,336
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,971,172 | €18,811,649 | +€2.8m | +17.8% |
| Fixed assets | 21/28 | €12,433,042 | €15,347,282 | +€2.9m | +23.4% |
| Intangible fixed assets | 21 | €380,797 | €295,564 | -€85,233 | -22.4% |
| Tangible fixed assets | 22/27 | €43,234 | €42,730 | -€504 | -1.2% |
| Plant, machinery and equipment | 23 | €17,151 | €18,529 | +€1,378 | +8.0% |
| Furniture and vehicles | 24 | €5,018 | €5,717 | +€699 | +13.9% |
| Assets under construction and advance payments | 27 | €21,065 | €18,484 | -€2,581 | -12.3% |
| Financial fixed assets | 28 | €12,009,011 | €15,008,988 | +€3.0m | +25.0% |
| Affiliated companies | 280/1 | €12,006,392 | €15,006,370 | +€3.0m | +25.0% |
| Participating interests | 280 | €12,006,392 | €15,006,370 | +€3.0m | +25.0% |
| Other financial fixed assets | 284/8 | €2,618 | €2,618 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €2,618 | €2,618 | = | 0.0% |
| Current assets | 29/58 | €3,538,130 | €3,464,368 | -€73,762 | -2.1% |
| Stocks and contracts in progress | 3 | €2,630,239 | €2,486,742 | -€143,496 | -5.5% |
| Stocks | 30/36 | €2,630,239 | €2,486,742 | -€143,496 | -5.5% |
| Raw materials and consumables | 30/31 | €821,801 | €809,905 | -€11,896 | -1.4% |
| Work in progress | 32 | €0 | - | = | |
| Finished goods | 33 | €256,016 | €519,505 | +€263,489 | +102.9% |
| Goods purchased for resale | 34 | €1,552,422 | €1,157,332 | -€395,089 | -25.4% |
| Amounts receivable within one year | 40/41 | €729,162 | €254,222 | -€474,940 | -65.1% |
| Trade receivables | 40 | €569,705 | €253,448 | -€316,257 | -55.5% |
| Other amounts receivable | 41 | €159,457 | €773 | -€158,683 | -99.5% |
| Current investments | 50/53 | €0 | €0 | = | 0.0% |
| Own shares | 50 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €164,043 | €688,336 | +€524,292 | +319.6% |
| Deferred charges and accrued income | 490/1 | €14,686 | €35,067 | +€20,381 | +138.8% |
| Total equity and liabilities | 10/49 | €15,971,172 | €18,811,649 | +€2.8m | +17.8% |
| Equity | 10/15 | €12,633,901 | €16,402,481 | +€3.8m | +29.8% |
| Contributions | 10/11 | €9,300,000 | €13,300,000 | +€4.0m | +43.0% |
| Capital | 10 | €9,300,000 | €13,300,000 | +€4.0m | +43.0% |
| Issued capital | 100 | €9,300,000 | €13,300,000 | +€4.0m | +43.0% |
| Reserves | 13 | €4,156,418 | €3,333,901 | -€822,517 | -19.8% |
| Non-distributable reserves | 130/1 | €1,288,616 | €1,288,616 | = | 0.0% |
| Legal reserve | 130 | €1,288,616 | €1,288,616 | = | 0.0% |
| Own shares acquired | 1312 | €0 | €0 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,924 | €18,924 | = | 0.0% |
| Distributable reserves | 133 | €2,848,878 | €2,026,360 | -€822,517 | -28.9% |
| Profit (loss) carried forward | 14 | -€822,517 | -€231,419 | +€591,098 | +71.9% |
| Amounts payable | 17/49 | €3,337,271 | €2,409,168 | -€928,103 | -27.8% |
| Amounts payable within one year | 42/48 | €3,337,271 | €2,409,168 | -€928,103 | -27.8% |
| Financial debts | 43 | €0 | €0 | = | |
| Other loans | 439 | €0 | €0 | = | |
| Trade debts | 44 | €2,355,651 | €2,221,294 | -€134,357 | -5.7% |
| Suppliers | 440/4 | €2,355,651 | €2,221,294 | -€134,357 | -5.7% |
| Advances received on contracts in progress | 46 | €4,972 | €4,972 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €321,840 | €182,799 | -€139,042 | -43.2% |
| Taxes | 450/3 | €152,444 | €32,691 | -€119,753 | -78.6% |
| Remuneration and social security | 454/9 | €169,396 | €150,108 | -€19,289 | -11.4% |
| Other amounts payable | 47/48 | €654,808 | €104 | -€654,704 | -100.0% |
| Operating income | 70/76A | €11,024,443 | €11,294,562 | +€270,119 | +2.5% |
| Turnover | 70 | €10,680,049 | €10,739,695 | +€59,646 | +0.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | €263,489 | +€263,489 | |
| Own construction capitalised | 72 | €0 | €18,484 | +€18,484 | |
| Other operating income | 74 | €344,394 | €272,894 | -€71,500 | -20.8% |
| Operating charges | 60/66A | €11,555,448 | €11,367,175 | -€188,273 | -1.6% |
| Goods for resale, raw materials and consumables | 60 | €6,102,015 | €6,339,574 | +€237,559 | +3.9% |
| Purchases | 600/8 | €5,951,842 | €5,816,387 | -€135,455 | -2.3% |
| Change in stocks: decrease (increase) | 609 | €150,173 | €523,187 | +€373,014 | +248.4% |
| Services and other goods | 61 | €2,993,939 | €3,482,304 | +€488,365 | +16.3% |
| Remuneration, social security and pensions | 62 | €2,032,105 | €1,472,269 | -€559,836 | -27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,106 | €91,708 | -€25,398 | -21.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €111,112 | -€116,202 | -€227,314 | |
| Other operating charges | 640/8 | €16,994 | €97,521 | +€80,527 | +473.9% |
| Non-recurring operating charges | 66A | €182,177 | - | -€182,177 | |
| Operating profit (loss) | 9901 | -€531,006 | -€72,613 | +€458,392 | +86.3% |
| Financial income | 75/76B | €1,485,533 | €167,254 | -€1.3m | -88.7% |
| Recurring financial income | 75 | €1,485,206 | €167,238 | -€1.3m | -88.7% |
| Income from current assets | 751 | €1,479,134 | €773 | -€1.5m | -99.9% |
| Other financial income | 752/9 | €6,072 | €166,464 | +€160,392 | +2641.6% |
| Non-recurring financial income | 76B | €327 | €17 | -€310 | -94.9% |
| Financial charges | 65/66B | €1,778,125 | €322,561 | -€1.5m | -81.9% |
| Recurring financial charges | 65 | €1,778,125 | €322,561 | -€1.5m | -81.9% |
| Debt charges | 650 | €1,671,171 | €53,813 | -€1.6m | -96.8% |
| Other financial charges | 652/9 | €106,954 | €268,748 | +€161,794 | +151.3% |
| Profit (loss) for the period before taxes | 9903 | -€823,599 | -€227,919 | +€595,679 | +72.3% |
| Income taxes | 67/77 | -€1,081 | €3,500 | +€4,581 | |
| Taxes | 670/3 | - | €3,500 | +€3,500 | |
| Tax adjustments and reversals of tax provisions | 77 | €1,081 | - | -€1,081 | |
| Profit (loss) for the period | 9904 | -€822,517 | -€231,419 | +€591,098 | +71.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€822,517 | -€231,419 | +€591,098 | +71.9% |
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 30 September 2026 via checked.be.