Infrastructure Virtualization: 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.
Infrastructure Virtualization
Largest movements
- Cash +€16,875
up €16,875 (+77.6%), from €21,750 to €38,624
mainly Depreciation (+€14,439) and Receivables within one year (+€12,116)
- Receivables within one year -€12,116
down €12,116 (-35.0%), from €34,644 to €22,528
of which Trade receivables: -€17,701
- Tangible fixed assets -€8,673
down €8,673 (-9.6%), from €90,199 to €81,526
of which Furniture and vehicles: -€6,133
- Deferred charges and accrued income -€3,416
down €3,416 (-58.7%), from €5,820 to €2,404
- Tax, wage and social debts -€20,181
down €20,181 (-56.6%), from €35,656 to €15,475
- Reserves +€8,241
up €8,241 (+8.8%), from €93,587 to €101,828
of which Distributable reserves: +€8,241
- Trade debts +€4,610
up €4,610 (+198%), from €2,325 to €6,935
- Staff costs -€15,296
down €15,296 (-35.1%), from €43,605 to €28,309
- Taxes +€9,632
up €9,632, from -€4,534 to €5,098
- Depreciation +€5,280
up €5,280 (+57.6%), from €9,159 to €14,439
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 | €152,413 | €145,083 | -€7,330 | -4.8% |
| Fixed assets | 21/28 | €90,199 | €81,526 | -€8,673 | -9.6% |
| Tangible fixed assets | 22/27 | €90,199 | €81,526 | -€8,673 | -9.6% |
| Land and buildings | 22 | €45,641 | €43,101 | -€2,540 | -5.6% |
| Furniture and vehicles | 24 | €44,558 | €38,425 | -€6,133 | -13.8% |
| Current assets | 29/58 | €62,213 | €63,557 | +€1,343 | +2.2% |
| Amounts receivable within one year | 40/41 | €34,644 | €22,528 | -€12,116 | -35.0% |
| Trade receivables | 40 | €31,664 | €13,963 | -€17,701 | -55.9% |
| Other amounts receivable | 41 | €2,980 | €8,565 | +€5,585 | +187% |
| Cash at bank and in hand | 54/58 | €21,750 | €38,624 | +€16,875 | +77.6% |
| Deferred charges and accrued income | 490/1 | €5,820 | €2,404 | -€3,416 | -58.7% |
| Total equity and liabilities | 10/49 | €152,413 | €145,083 | -€7,330 | -4.8% |
| Equity | 10/15 | €114,431 | €122,672 | +€8,241 | +7.2% |
| Contributions | 10/11 | €17,400 | €17,400 | = | 0.0% |
| Reserves | 13 | €93,587 | €101,828 | +€8,241 | +8.8% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,164 | €1,164 | = | 0.0% |
| Distributable reserves | 133 | €90,568 | €98,809 | +€8,241 | +9.1% |
| Profit (loss) carried forward | 14 | €3,444 | €3,444 | = | 0.0% |
| Amounts payable | 17/49 | €37,982 | €22,410 | -€15,571 | -41.0% |
| Amounts payable within one year | 42/48 | €37,982 | €22,410 | -€15,571 | -41.0% |
| Trade debts | 44 | €2,325 | €6,935 | +€4,610 | +198% |
| Suppliers | 440/4 | €2,325 | €6,935 | +€4,610 | +198% |
| Taxes, remuneration and social security | 45 | €35,656 | €15,475 | -€20,181 | -56.6% |
| Taxes | 450/3 | €35,656 | €15,475 | -€20,181 | -56.6% |
| Non-recurring operating income | 76A | €1,916 | €150 | -€1,766 | -92.2% |
| Remuneration, social security and pensions | 62 | €43,605 | €28,309 | -€15,296 | -35.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,159 | €14,439 | +€5,280 | +57.6% |
| Other operating charges | 640/8 | €290 | €263 | -€27 | -9.4% |
| Gross operating margin | 9900 | €56,439 | €56,775 | +€337 | +0.6% |
| Operating profit (loss) | 9901 | €3,385 | €13,765 | +€10,380 | +307% |
| Financial income | 75/76B | €0 | €6 | +€6 | +60,000% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +60,000% |
| Financial charges | 65/66B | €242 | €432 | +€189 | +78.1% |
| Recurring financial charges | 65 | €242 | €432 | +€189 | +78.1% |
| Profit (loss) for the period before taxes | 9903 | €3,142 | €13,339 | +€10,196 | +324% |
| Income taxes | 67/77 | -€4,534 | €5,098 | +€9,632 | |
| Profit (loss) for the period | 9904 | €7,677 | €8,241 | +€564 | +7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,677 | €8,241 | +€564 | +7.4% |
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 25 October 2026 via checked.be.