Infrared Research & Development: 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.
Infrared Research & Development
Largest movements
- Cash -€232,776
down €232,776 (-97.5%), from €238,819 to €6,043
mainly Net result for the year (-€237,355) and Tax, wage and social debts (-€10,607)
- Tangible fixed assets -€25,283
down €25,283 (-26.5%), from €95,507 to €70,224
of which Furniture and vehicles: -€20,879
- Profit (loss) carried forward -€237,355
down €237,355 (-78.5%), from €302,544 to €65,189
- Tax, wage and social debts -€10,607
no longer reported in 2025 (was €10,607)
- Debts after one year -€5,497
down €5,497 (-54.8%), from €10,025 to €4,528
- Current portion of long-term debt -€4,528
down €4,528 (-30.1%), from €15,039 to €10,511
- Gross operating margin -€204,550
down €204,550, from €78,006 to -€126,544
- Staff costs -€8,487
down €8,487 (-9.2%), from €91,821 to €83,334
- Taxes -€2,345
no longer reported in 2025 (was €2,345)
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 | €369,975 | €110,281 | -€259,694 | -70.2% |
| Fixed assets | 21/28 | €97,785 | €72,502 | -€25,283 | -25.9% |
| Tangible fixed assets | 22/27 | €95,507 | €70,224 | -€25,283 | -26.5% |
| Plant, machinery and equipment | 23 | €27,025 | €22,896 | -€4,129 | -15.3% |
| Furniture and vehicles | 24 | €66,973 | €46,094 | -€20,879 | -31.2% |
| Other tangible fixed assets | 26 | €1,509 | €1,234 | -€275 | -18.2% |
| Financial fixed assets | 28 | €2,278 | €2,278 | = | 0.0% |
| Current assets | 29/58 | €272,190 | €37,779 | -€234,411 | -86.1% |
| Stocks and contracts in progress | 3 | €27,797 | €27,797 | = | 0.0% |
| Stocks | 30/36 | €27,797 | €27,797 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,474 | €3,004 | +€1,530 | +104% |
| Trade receivables | 40 | - | €2,258 | +€2,258 | |
| Other amounts receivable | 41 | €1,474 | €746 | -€728 | -49.4% |
| Cash at bank and in hand | 54/58 | €238,819 | €6,043 | -€232,776 | -97.5% |
| Deferred charges and accrued income | 490/1 | €4,099 | €935 | -€3,164 | -77.2% |
| Total equity and liabilities | 10/49 | €369,975 | €110,281 | -€259,694 | -70.2% |
| Equity | 10/15 | €323,004 | €85,649 | -€237,355 | -73.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €302,544 | €65,189 | -€237,355 | -78.5% |
| Amounts payable | 17/49 | €46,971 | €24,632 | -€22,339 | -47.6% |
| Amounts payable after more than one year | 17 | €10,025 | €4,528 | -€5,497 | -54.8% |
| Financial debts | 170/4 | €10,025 | €4,528 | -€5,497 | -54.8% |
| Amounts payable within one year | 42/48 | €35,964 | €20,104 | -€15,861 | -44.1% |
| Current portion of amounts payable after more than one year | 42 | €15,039 | €10,511 | -€4,528 | -30.1% |
| Trade debts | 44 | €3,881 | €3,155 | -€725 | -18.7% |
| Suppliers | 440/4 | €3,881 | €3,155 | -€725 | -18.7% |
| Taxes, remuneration and social security | 45 | €10,607 | - | -€10,607 | |
| Remuneration and social security | 454/9 | €10,607 | - | -€10,607 | |
| Other amounts payable | 47/48 | €6,438 | €6,438 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €982 | - | -€982 | |
| Remuneration, social security and pensions | 62 | €91,821 | €83,334 | -€8,487 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,451 | €25,283 | -€168 | -0.7% |
| Other operating charges | 640/8 | €1,694 | €1,643 | -€51 | -3.0% |
| Gross operating margin | 9900 | €78,006 | -€126,544 | -€204,550 | |
| Operating profit (loss) | 9901 | -€40,960 | -€236,805 | -€195,845 | -478% |
| Financial income | 75/76B | €991 | €1,523 | +€531 | +53.6% |
| Recurring financial income | 75 | €991 | €1,523 | +€531 | +53.6% |
| Financial charges | 65/66B | €2,468 | €2,073 | -€395 | -16.0% |
| Recurring financial charges | 65 | €2,468 | €2,073 | -€395 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | -€42,436 | -€237,355 | -€194,918 | -459% |
| Income taxes | 67/77 | €2,345 | - | -€2,345 | |
| Profit (loss) for the period | 9904 | -€44,782 | -€237,355 | -€192,573 | -430% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,782 | -€237,355 | -€192,573 | -430% |
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 15 October 2026 via checked.be.