INFR@DVIST: 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.
INFR@DVIST
Largest movements
- Current investments +€19,800
new in 2026: €19,800
- Cash -€17,758
down €17,758 (-17.0%), from €104,718 to €86,960
mainly Contributions, distributions and other (-€35,300) and Current investments (-€19,800)
- Receivables within one year -€14,962
down €14,962 (-88.0%), from €17,005 to €2,043
of which Trade receivables: -€16,524
- Receivables after one year +€3,500
new in 2026: €3,500
- Tax, wage and social debts -€14,129
down €14,129 (-71.9%), from €19,641 to €5,511
of which Taxes: -€14,129
- Reserves +€4,000
up €4,000 (+3.7%), from €108,000 to €112,000
- Gross operating margin -€6,586
down €6,586 (-10.9%), from €60,219 to €53,634
- Taxes -€1,098
down €1,098 (-9.5%), from €11,545 to €10,448
- Financial charges -€971
down €971 (-46.7%), from €2,078 to €1,107
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €143,346 | €133,355 | -€9,991 | -7.0% |
| Fixed assets | 21/28 | €15,998 | €15,435 | -€563 | -3.5% |
| Tangible fixed assets | 22/27 | €15,998 | €15,435 | -€563 | -3.5% |
| Plant, machinery and equipment | 23 | €1,871 | €1,399 | -€472 | -25.2% |
| Furniture and vehicles | 24 | €477 | €1,121 | +€643 | +135% |
| Other tangible fixed assets | 26 | €13,650 | €12,915 | -€735 | -5.4% |
| Current assets | 29/58 | €127,348 | €117,920 | -€9,428 | -7.4% |
| Amounts receivable after more than one year | 29 | - | €3,500 | +€3,500 | |
| Trade receivables | 290 | - | €3,500 | +€3,500 | |
| Amounts receivable within one year | 40/41 | €17,005 | €2,043 | -€14,962 | -88.0% |
| Trade receivables | 40 | €17,005 | €481 | -€16,524 | -97.2% |
| Other amounts receivable | 41 | - | €1,562 | +€1,562 | |
| Current investments | 50/53 | - | €19,800 | +€19,800 | |
| Cash at bank and in hand | 54/58 | €104,718 | €86,960 | -€17,758 | -17.0% |
| Deferred charges and accrued income | 490/1 | €5,625 | €5,618 | -€7 | -0.1% |
| Total equity and liabilities | 10/49 | €143,346 | €133,355 | -€9,991 | -7.0% |
| Equity | 10/15 | €118,166 | €122,276 | +€4,110 | +3.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €108,000 | €112,000 | +€4,000 | +3.7% |
| Distributable reserves | 133 | €108,000 | €112,000 | +€4,000 | +3.7% |
| Profit (loss) carried forward | 14 | €166 | €276 | +€110 | +66.5% |
| Amounts payable | 17/49 | €25,180 | €11,079 | -€14,102 | -56.0% |
| Amounts payable within one year | 42/48 | €24,094 | €9,993 | -€14,102 | -58.5% |
| Trade debts | 44 | €459 | €159 | -€300 | -65.4% |
| Suppliers | 440/4 | €459 | €159 | -€300 | -65.4% |
| Taxes, remuneration and social security | 45 | €19,641 | €5,511 | -€14,129 | -71.9% |
| Taxes | 450/3 | €18,905 | €4,775 | -€14,129 | -74.7% |
| Remuneration and social security | 454/9 | €736 | €736 | = | 0.0% |
| Other amounts payable | 47/48 | €3,995 | €4,323 | +€328 | +8.2% |
| Accrued charges and deferred income | 492/3 | €1,086 | €1,086 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,005 | €1,788 | -€217 | -10.8% |
| Other operating charges | 640/8 | €451 | €894 | +€442 | +98.0% |
| Gross operating margin | 9900 | €60,219 | €53,634 | -€6,586 | -10.9% |
| Operating profit (loss) | 9901 | €57,763 | €50,952 | -€6,811 | -11.8% |
| Financial income | 75/76B | €0 | €13 | +€13 | +5,435% |
| Recurring financial income | 75 | €0 | €13 | +€13 | +5,435% |
| Financial charges | 65/66B | €2,078 | €1,107 | -€971 | -46.7% |
| Recurring financial charges | 65 | €2,078 | €1,107 | -€971 | -46.7% |
| Profit (loss) for the period before taxes | 9903 | €55,686 | €49,858 | -€5,827 | -10.5% |
| Income taxes | 67/77 | €11,545 | €10,448 | -€1,098 | -9.5% |
| Profit (loss) for the period | 9904 | €44,140 | €39,410 | -€4,730 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €44,140 | €39,410 | -€4,730 | -10.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.