INFIWAL: 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.
INFIWAL
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Deferred charges and accrued income -€8,734
down €8,734 (-52.5%), from €16,628 to €7,895
- Tangible fixed assets -€7,958
down €7,958 (-35.7%), from €22,296 to €14,338
of which Furniture and vehicles: -€13,230
- Cash -€6,104
down €6,104 (-64.7%), from €9,432 to €3,327
mainly Current investments (-€50,000) and Contributions, distributions and other (-€32,500)
- Receivables within one year -€1,440
down €1,440 (-44.4%), from €3,241 to €1,801
- Other debts +€32,500
new in 2025: €32,500
- Debts after one year -€7,919
down €7,919 (-100.0%), from €7,919 to €0
- Tax, wage and social debts +€7,448
up €7,448 (+3806.2%), from €196 to €7,643
- Current portion of long-term debt -€3,812
down €3,812 (-32.5%), from €11,730 to €7,919
- Reserves -€2,000
down €2,000 (-6.9%), from €29,000 to €27,000
- Gross operating margin +€33,380
up €33,380 (+172.2%), from €19,384 to €52,764
- Taxes +€7,465
up €7,465 (+3815.3%), from €196 to €7,661
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 | €51,597 | €77,361 | +€25,765 | +49.9% |
| Fixed assets | 21/28 | €22,296 | €14,338 | -€7,958 | -35.7% |
| Tangible fixed assets | 22/27 | €22,296 | €14,338 | -€7,958 | -35.7% |
| Land and buildings | 22 | - | €5,387 | +€5,387 | |
| Plant, machinery and equipment | 23 | €1,049 | €934 | -€115 | -11.0% |
| Furniture and vehicles | 24 | €21,247 | €8,018 | -€13,230 | -62.3% |
| Current assets | 29/58 | €29,301 | €63,023 | +€33,722 | +115.1% |
| Amounts receivable within one year | 40/41 | €3,241 | €1,801 | -€1,440 | -44.4% |
| Other amounts receivable | 41 | €3,241 | €1,801 | -€1,440 | -44.4% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €9,432 | €3,327 | -€6,104 | -64.7% |
| Deferred charges and accrued income | 490/1 | €16,628 | €7,895 | -€8,734 | -52.5% |
| Total equity and liabilities | 10/49 | €51,597 | €77,361 | +€25,765 | +49.9% |
| Equity | 10/15 | €30,734 | €28,700 | -€2,034 | -6.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €29,000 | €27,000 | -€2,000 | -6.9% |
| Distributable reserves | 133 | €29,000 | €27,000 | -€2,000 | -6.9% |
| Profit (loss) carried forward | 14 | -€10,666 | -€10,701 | -€34 | -0.3% |
| Amounts payable | 17/49 | €20,863 | €48,662 | +€27,799 | +133.2% |
| Amounts payable after more than one year | 17 | €7,919 | €0 | -€7,919 | -100.0% |
| Financial debts | 170/4 | €7,919 | €0 | -€7,919 | -100.0% |
| Amounts payable within one year | 42/48 | €12,944 | €48,662 | +€35,718 | +275.9% |
| Current portion of amounts payable after more than one year | 42 | €11,730 | €7,919 | -€3,812 | -32.5% |
| Trade debts | 44 | €1,018 | €600 | -€418 | -41.1% |
| Suppliers | 440/4 | €1,018 | €600 | -€418 | -41.1% |
| Taxes, remuneration and social security | 45 | €196 | €7,643 | +€7,448 | +3806.2% |
| Taxes | 450/3 | €196 | €7,643 | +€7,448 | +3806.2% |
| Other amounts payable | 47/48 | - | €32,500 | +€32,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,126 | €13,496 | +€370 | +2.8% |
| Other operating charges | 640/8 | €1,056 | €939 | -€117 | -11.1% |
| Gross operating margin | 9900 | €19,384 | €52,764 | +€33,380 | +172.2% |
| Operating profit (loss) | 9901 | €5,202 | €38,328 | +€33,127 | +636.8% |
| Financial income | 75/76B | - | €59 | +€59 | |
| Recurring financial income | 75 | - | €59 | +€59 | |
| Financial charges | 65/66B | €436 | €261 | -€175 | -40.1% |
| Recurring financial charges | 65 | €436 | €261 | -€175 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | €4,766 | €38,127 | +€33,360 | +699.9% |
| Income taxes | 67/77 | €196 | €7,661 | +€7,465 | +3815.3% |
| Profit (loss) for the period | 9904 | €4,570 | €30,466 | +€25,895 | +566.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,570 | €30,466 | +€25,895 | +566.6% |
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 4 October 2026 via checked.be.