INFORMA: 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.
INFORMA
Largest movements
- Receivables after one year -€1.5m
down €1.5m (-100.0%), from €1.5m to €0
- Receivables within one year +€855,023
up €855,023 (+7098.1%), from €12,046 to €867,069
of which Other amounts receivable: +€862,038
- Current investments -€299,533
down €299,533 (-91.0%), from €329,170 to €29,637
- Cash -€217,713
down €217,713 (-42.3%), from €515,268 to €297,555
mainly Other debts (-€1.2m) and Receivables within one year (-€855,023)
- Deferred charges and accrued income -€70,467
down €70,467 (-89.5%), from €78,750 to €8,283
- Other debts -€1.2m
down €1.2m (-98.9%), from €1.2m to €13,860
- Accrued charges and deferred income -€94,889
down €94,889 (-100.0%), from €94,889 to €0
- Reserves +€28,893
up €28,893 (+2.4%), from €1.2m to €1.2m
of which Distributable reserves: +€28,893
- Gross operating margin +€14,732
up €14,732 (+34.8%), from €42,287 to €57,018
- Staff costs +€10,036
up €10,036 (+23.4%), from €42,914 to €52,950
- Other operating charges -€8,252
down €8,252 (-77.5%), from €10,644 to €2,392
- Financial charges -€4,991
down €4,991 (-14.6%), from €34,156 to €29,166
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 | €2,643,053 | €1,340,740 | -€1.3m | -49.3% |
| Fixed assets | 21/28 | €56,423 | €36,242 | -€20,181 | -35.8% |
| Tangible fixed assets | 22/27 | €56,288 | €36,107 | -€20,181 | -35.9% |
| Plant, machinery and equipment | 23 | €56,288 | €36,107 | -€20,181 | -35.9% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €2,586,630 | €1,304,498 | -€1.3m | -49.6% |
| Amounts receivable after more than one year | 29 | €1,532,289 | €0 | -€1.5m | -100.0% |
| Other amounts receivable | 291 | €1,532,289 | €0 | -€1.5m | -100.0% |
| Stocks and contracts in progress | 3 | €119,106 | €101,954 | -€17,153 | -14.4% |
| Stocks | 30/36 | €119,106 | €101,954 | -€17,153 | -14.4% |
| Amounts receivable within one year | 40/41 | €12,046 | €867,069 | +€855,023 | +7098.1% |
| Trade receivables | 40 | €10,381 | €3,366 | -€7,015 | -67.6% |
| Other amounts receivable | 41 | €1,664 | €863,702 | +€862,038 | +51795.8% |
| Current investments | 50/53 | €329,170 | €29,637 | -€299,533 | -91.0% |
| Cash at bank and in hand | 54/58 | €515,268 | €297,555 | -€217,713 | -42.3% |
| Deferred charges and accrued income | 490/1 | €78,750 | €8,283 | -€70,467 | -89.5% |
| Total equity and liabilities | 10/49 | €2,643,053 | €1,340,740 | -€1.3m | -49.3% |
| Equity | 10/15 | €1,285,913 | €1,314,806 | +€28,893 | +2.2% |
| Contributions | 10/11 | €69,410 | €69,410 | = | 0.0% |
| Capital | 10 | €69,410 | €69,410 | = | 0.0% |
| Issued capital | 100 | €69,410 | €69,410 | = | 0.0% |
| Reserves | 13 | €1,216,503 | €1,245,396 | +€28,893 | +2.4% |
| Non-distributable reserves | 130/1 | €6,941 | €6,941 | = | 0.0% |
| Legal reserve | 130 | €6,941 | €6,941 | = | 0.0% |
| Distributable reserves | 133 | €1,209,562 | €1,238,455 | +€28,893 | +2.4% |
| Amounts payable | 17/49 | €1,357,140 | €25,934 | -€1.3m | -98.1% |
| Amounts payable within one year | 42/48 | €1,262,251 | €25,934 | -€1.2m | -97.9% |
| Trade debts | 44 | €9,719 | €4,917 | -€4,802 | -49.4% |
| Suppliers | 440/4 | €9,719 | €4,917 | -€4,802 | -49.4% |
| Taxes, remuneration and social security | 45 | €6,928 | €7,157 | +€229 | +3.3% |
| Taxes | 450/3 | €2,742 | €2,459 | -€283 | -10.3% |
| Remuneration and social security | 454/9 | €4,186 | €4,698 | +€512 | +12.2% |
| Other amounts payable | 47/48 | €1,245,604 | €13,860 | -€1.2m | -98.9% |
| Accrued charges and deferred income | 492/3 | €94,889 | €0 | -€94,889 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €42,914 | €52,950 | +€10,036 | +23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,181 | €20,181 | = | 0.0% |
| Other operating charges | 640/8 | €10,644 | €2,392 | -€8,252 | -77.5% |
| Gross operating margin | 9900 | €42,287 | €57,018 | +€14,732 | +34.8% |
| Operating profit (loss) | 9901 | -€31,453 | -€18,505 | +€12,948 | +41.2% |
| Financial income | 75/76B | €76,509 | €76,563 | +€55 | +0.1% |
| Recurring financial income | 75 | €76,509 | €76,563 | +€55 | +0.1% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €34,156 | €29,166 | -€4,991 | -14.6% |
| Recurring financial charges | 65 | €34,156 | €29,166 | -€4,991 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €10,900 | €28,893 | +€17,993 | +165.1% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €10,900 | €28,893 | +€17,993 | +165.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,900 | €28,893 | +€17,993 | +165.1% |
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 9 October 2026 via checked.be.