INFOLINK: 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.
INFOLINK
Largest movements
- Stocks and contracts +€1.4m
up €1.4m (+47.6%), from €2.9m to €4.3m
- Receivables after one year -€345,000
no longer reported in 2025 (was €345,000)
- Financial fixed assets -€86,624
down €86,624 (-23.0%), from €376,635 to €290,011
- Receivables within one year +€84,341
up €84,341 (+256%), from €32,950 to €117,290
- Cash -€81,401
down €81,401 (-69.8%), from €116,601 to €35,201
mainly Stocks and contracts (-€1.4m) and Receivables within one year (-€84,341)
- Other debts +€915,986
up €915,986 (+108%), from €845,921 to €1.8m
- Gross operating margin -€131,774
down €131,774 (-57.2%), from €230,308 to €98,534
- Financial charges -€22,031
down €22,031 (-30.4%), from €72,356 to €50,325
- Taxes +€7,780
up €7,780 (+84,565%), from €9 to €7,789
- Other operating charges +€5,906
up €5,906 (+60.1%), from €9,820 to €15,726
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.
Derived cash bridge
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 | €3,857,317 | €4,784,952 | +€927,636 | +24.0% |
| Fixed assets | 21/28 | €462,306 | €363,804 | -€98,503 | -21.3% |
| Tangible fixed assets | 22/27 | €85,672 | €73,793 | -€11,879 | -13.9% |
| Plant, machinery and equipment | 23 | €21,890 | €19,349 | -€2,541 | -11.6% |
| Furniture and vehicles | 24 | €6,051 | €2,656 | -€3,395 | -56.1% |
| Other tangible fixed assets | 26 | €57,730 | €51,788 | -€5,942 | -10.3% |
| Financial fixed assets | 28 | €376,635 | €290,011 | -€86,624 | -23.0% |
| Current assets | 29/58 | €3,395,010 | €4,421,149 | +€1.0m | +30.2% |
| Amounts receivable after more than one year | 29 | €345,000 | - | -€345,000 | |
| Other amounts receivable | 291 | €345,000 | - | -€345,000 | |
| Stocks and contracts in progress | 3 | €2,880,151 | €4,250,791 | +€1.4m | +47.6% |
| Stocks | 30/36 | €2,880,151 | €4,250,791 | +€1.4m | +47.6% |
| Amounts receivable within one year | 40/41 | €32,950 | €117,290 | +€84,341 | +256% |
| Trade receivables | 40 | €32,950 | €117,290 | +€84,341 | +256% |
| Cash at bank and in hand | 54/58 | €116,601 | €35,201 | -€81,401 | -69.8% |
| Deferred charges and accrued income | 490/1 | €20,308 | €17,867 | -€2,442 | -12.0% |
| Total equity and liabilities | 10/49 | €3,857,317 | €4,784,952 | +€927,636 | +24.0% |
| Equity | 10/15 | €1,742,734 | €1,787,685 | +€44,951 | +2.6% |
| 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 | €1,680,000 | €1,725,000 | +€45,000 | +2.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,673,800 | €1,718,800 | +€45,000 | +2.7% |
| Profit (loss) carried forward | 14 | €734 | €685 | -€49 | -6.7% |
| Amounts payable | 17/49 | €2,114,582 | €2,997,267 | +€882,685 | +41.7% |
| Amounts payable within one year | 42/48 | €2,105,457 | €2,994,306 | +€888,849 | +42.2% |
| Financial debts | 43 | €1,074,232 | €1,074,232 | = | 0.0% |
| Credit institutions | 430/8 | €1,074,232 | €1,074,232 | = | 0.0% |
| Trade debts | 44 | €164,651 | €120,939 | -€43,712 | -26.5% |
| Suppliers | 440/4 | €164,651 | €120,939 | -€43,712 | -26.5% |
| Taxes, remuneration and social security | 45 | €20,653 | €37,228 | +€16,575 | +80.3% |
| Taxes | 450/3 | €20,653 | €37,228 | +€16,575 | +80.3% |
| Other amounts payable | 47/48 | €845,921 | €1,761,907 | +€915,986 | +108% |
| Accrued charges and deferred income | 492/3 | €9,125 | €2,961 | -€6,164 | -67.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,758 | €11,879 | -€879 | -6.9% |
| Other operating charges | 640/8 | €9,820 | €15,726 | +€5,906 | +60.1% |
| Non-recurring operating charges | 66A | €63 | €159 | +€96 | +152% |
| Gross operating margin | 9900 | €230,308 | €98,534 | -€131,774 | -57.2% |
| Operating profit (loss) | 9901 | €207,667 | €70,771 | -€136,897 | -65.9% |
| Financial income | 75/76B | €32,203 | €32,294 | +€91 | +0.3% |
| Recurring financial income | 75 | €32,203 | €32,294 | +€91 | +0.3% |
| Financial charges | 65/66B | €72,356 | €50,325 | -€22,031 | -30.4% |
| Recurring financial charges | 65 | €72,356 | €50,325 | -€22,031 | -30.4% |
| Profit (loss) for the period before taxes | 9903 | €167,515 | €52,740 | -€114,775 | -68.5% |
| Income taxes | 67/77 | €9 | €7,789 | +€7,780 | +84,565% |
| Profit (loss) for the period | 9904 | €167,506 | €44,951 | -€122,555 | -73.2% |
| Profit (loss) for the period to be appropriated | 9905 | €167,506 | €44,951 | -€122,555 | -73.2% |
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 16 October 2026 via checked.be.