INFIVALI: 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.
INFIVALI
Largest movements
- Receivables after one year +€310,134
new in 2025: €310,134
- Receivables within one year -€294,964
no longer reported in 2025 (was €294,964)
- Reserves +€16,642
up €16,642 (+6.6%), from €251,716 to €268,358
of which Distributable reserves: +€16,642
- Trade debts -€7,109
down €7,109 (-84.7%), from €8,392 to €1,283
- Tax, wage and social debts +€5,850
up €5,850 (+19.1%), from €30,691 to €36,541
- Gross operating margin -€24,396
down €24,396 (-46.1%), from €52,896 to €28,500
- Taxes -€7,191
down €7,191 (-41.7%), from €17,241 to €10,050
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
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 | €299,918 | €314,750 | +€14,832 | +4.9% |
| Current assets | 29/58 | €299,918 | €314,750 | +€14,832 | +4.9% |
| Amounts receivable after more than one year | 29 | - | €310,134 | +€310,134 | |
| Other amounts receivable | 291 | - | €310,134 | +€310,134 | |
| Amounts receivable within one year | 40/41 | €294,964 | - | -€294,964 | |
| Other amounts receivable | 41 | €294,964 | - | -€294,964 | |
| Cash at bank and in hand | 54/58 | €2 | €2 | -€0 | -5.0% |
| Deferred charges and accrued income | 490/1 | €4,952 | €4,614 | -€338 | -6.8% |
| Total equity and liabilities | 10/49 | €299,918 | €314,750 | +€14,832 | +4.9% |
| Equity | 10/15 | €257,916 | €274,558 | +€16,642 | +6.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €251,716 | €268,358 | +€16,642 | +6.6% |
| 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 | €249,856 | €266,498 | +€16,642 | +6.7% |
| Amounts payable | 17/49 | €42,002 | €40,192 | -€1,810 | -4.3% |
| Amounts payable within one year | 42/48 | €42,002 | €40,192 | -€1,810 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €521 | - | -€521 | |
| Financial debts | 43 | €2,398 | €2,368 | -€30 | -1.3% |
| Credit institutions | 430/8 | €2,398 | €2,368 | -€30 | -1.3% |
| Trade debts | 44 | €8,392 | €1,283 | -€7,109 | -84.7% |
| Suppliers | 440/4 | €8,392 | €1,283 | -€7,109 | -84.7% |
| Taxes, remuneration and social security | 45 | €30,691 | €36,541 | +€5,850 | +19.1% |
| Taxes | 450/3 | €30,691 | €36,541 | +€5,850 | +19.1% |
| Other operating charges | 640/8 | €591 | €796 | +€205 | +34.7% |
| Gross operating margin | 9900 | €52,896 | €28,500 | -€24,396 | -46.1% |
| Operating profit (loss) | 9901 | €52,305 | €27,703 | -€24,602 | -47.0% |
| Financial charges | 65/66B | €959 | €1,012 | +€53 | +5.5% |
| Recurring financial charges | 65 | €959 | €1,012 | +€53 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €51,346 | €26,692 | -€24,654 | -48.0% |
| Income taxes | 67/77 | €17,241 | €10,050 | -€7,191 | -41.7% |
| Profit (loss) for the period | 9904 | €34,105 | €16,642 | -€17,463 | -51.2% |
| Profit (loss) for the period to be appropriated | 9905 | €34,105 | €16,642 | -€17,463 | -51.2% |
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 10 October 2026 via checked.be.