INFODES: 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.
INFODES
Largest movements
- Current investments -€567,032
down €567,032 (-50.9%), from €1.1m to €547,828
- Receivables within one year +€526,988
up €526,988 (+155.7%), from €338,434 to €865,422
of which Other amounts receivable: +€502,723
- Cash +€464,270
up €464,270 (+349.7%), from €132,748 to €597,019
mainly Net result for the year (+€577,137) and Current investments (+€567,032)
- Receivables after one year -€383,262
down €383,262 (-91.3%), from €419,562 to €36,300
- Profit (loss) carried forward +€577,137
up €577,137 (+31.0%), from €1.9m to €2.4m
- Debts after one year -€483,054
down €483,054 (-12.2%), from €4.0m to €3.5m
of which Financial debts: -€520,429
- Gross operating margin +€360,286
up €360,286 (+36.6%), from €985,728 to €1.3m
- Financial income +€263,263
up €263,263 (+500.3%), from €52,616 to €315,879
- Financial charges +€125,287
up €125,287 (+294.2%), from €42,584 to €167,871
- Staff costs +€103,829
up €103,829 (+15.5%), from €669,756 to €773,585
- Taxes +€34,521
up €34,521 (+61.3%), from €56,334 to €90,855
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 | €6,708,626 | €6,795,043 | +€86,417 | +1.3% |
| Fixed assets | 21/28 | €4,694,169 | €4,743,381 | +€49,213 | +1.0% |
| Tangible fixed assets | 22/27 | €130,019 | €179,231 | +€49,213 | +37.9% |
| Land and buildings | 22 | €5,197 | €4,052 | -€1,145 | -22.0% |
| Furniture and vehicles | 24 | €124,821 | €175,179 | +€50,358 | +40.3% |
| Financial fixed assets | 28 | €4,564,150 | €4,564,150 | = | 0.0% |
| Current assets | 29/58 | €2,014,457 | €2,051,661 | +€37,204 | +1.8% |
| Amounts receivable after more than one year | 29 | €419,562 | €36,300 | -€383,262 | -91.3% |
| Trade receivables | 290 | €419,562 | €36,300 | -€383,262 | -91.3% |
| Amounts receivable within one year | 40/41 | €338,434 | €865,422 | +€526,988 | +155.7% |
| Trade receivables | 40 | €111,654 | €135,918 | +€24,265 | +21.7% |
| Other amounts receivable | 41 | €226,781 | €729,504 | +€502,723 | +221.7% |
| Current investments | 50/53 | €1,114,860 | €547,828 | -€567,032 | -50.9% |
| Cash at bank and in hand | 54/58 | €132,748 | €597,019 | +€464,270 | +349.7% |
| Deferred charges and accrued income | 490/1 | €8,852 | €5,092 | -€3,760 | -42.5% |
| Total equity and liabilities | 10/49 | €6,708,626 | €6,795,043 | +€86,417 | +1.3% |
| Equity | 10/15 | €2,011,041 | €2,588,178 | +€577,137 | +28.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €89,803 | €89,803 | = | 0.0% |
| Non-distributable reserves | 130/1 | €87,200 | €87,200 | = | 0.0% |
| Legal reserve | 130 | €87,200 | €87,200 | = | 0.0% |
| Distributable reserves | 133 | €2,603 | €2,603 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,859,238 | €2,436,375 | +€577,137 | +31.0% |
| Amounts payable | 17/49 | €4,697,584 | €4,206,864 | -€490,720 | -10.4% |
| Amounts payable after more than one year | 17 | €3,967,085 | €3,484,031 | -€483,054 | -12.2% |
| Financial debts | 170/4 | €3,122,571 | €2,602,143 | -€520,429 | -16.7% |
| Other amounts payable | 178/9 | €844,513 | €881,888 | +€37,375 | +4.4% |
| Amounts payable within one year | 42/48 | €730,500 | €722,833 | -€7,667 | -1.0% |
| Current portion of amounts payable after more than one year | 42 | €520,429 | €520,429 | = | 0.0% |
| Financial debts | 43 | €61,406 | - | -€61,406 | |
| Credit institutions | 430/8 | €61,406 | - | -€61,406 | |
| Trade debts | 44 | €19,497 | €23,582 | +€4,085 | +21.0% |
| Suppliers | 440/4 | €19,497 | €23,582 | +€4,085 | +21.0% |
| Taxes, remuneration and social security | 45 | €129,168 | €178,823 | +€49,655 | +38.4% |
| Taxes | 450/3 | €34,845 | €44,182 | +€9,337 | +26.8% |
| Remuneration and social security | 454/9 | €94,322 | €134,640 | +€40,318 | +42.7% |
| Non-recurring operating income | 76A | €1,583 | €8,265 | +€6,682 | +422.2% |
| Remuneration, social security and pensions | 62 | €669,756 | €773,585 | +€103,829 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,821 | €44,021 | +€2,200 | +5.3% |
| Other operating charges | 640/8 | €6,063 | €6,901 | +€838 | +13.8% |
| Non-recurring operating charges | 66A | - | €1,522 | +€1,522 | |
| Gross operating margin | 9900 | €985,728 | €1,346,014 | +€360,286 | +36.6% |
| Operating profit (loss) | 9901 | €268,088 | €519,984 | +€251,896 | +94.0% |
| Financial income | 75/76B | €52,616 | €315,879 | +€263,263 | +500.3% |
| Recurring financial income | 75 | €52,616 | €315,879 | +€263,263 | +500.3% |
| Financial charges | 65/66B | €42,584 | €167,871 | +€125,287 | +294.2% |
| Recurring financial charges | 65 | €42,584 | €167,871 | +€125,287 | +294.2% |
| Profit (loss) for the period before taxes | 9903 | €278,120 | €667,992 | +€389,872 | +140.2% |
| Income taxes | 67/77 | €56,334 | €90,855 | +€34,521 | +61.3% |
| Profit (loss) for the period | 9904 | €221,786 | €577,137 | +€355,351 | +160.2% |
| Profit (loss) for the period to be appropriated | 9905 | €221,786 | €577,137 | +€355,351 | +160.2% |
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 1 October 2026 via checked.be.