INVERFRAN: 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.
INVERFRAN
Largest movements
- Receivables within one year +€18,204
up €18,204 (+19.0%), from €95,751 to €113,955
of which Trade receivables: +€91,710
- Tangible fixed assets -€14,587
down €14,587 (-7.2%), from €201,729 to €187,142
of which Furniture and vehicles: -€11,042
- Cash +€7,240
up €7,240 (+101.2%), from €7,155 to €14,395
mainly Net result for the year (+€67,529) and Depreciation (+€18,467)
- Reserves +€22,525
up €22,525 (+4.8%), from €470,860 to €493,385
of which Distributable reserves: +€22,525
- Debts after one year -€20,981
down €20,981 (-15.6%), from €134,782 to €113,801
- Tax, wage and social debts +€18,218
up €18,218 (+146.5%), from €12,438 to €30,656
- Trade debts -€7,809
down €7,809 (-92.0%), from €8,486 to €677
- Gross operating margin +€28,660
up €28,660 (+72.8%), from €39,345 to €68,006
- Depreciation -€24,682
down €24,682 (-57.2%), from €43,149 to €18,467
- Provisions +€23,580
up €23,580, from -€23,580 to €0
- Taxes +€17,694
up €17,694 (+205.0%), from €8,630 to €26,324
- Other operating charges -€3,185
down €3,185 (-78.0%), from €4,083 to €898
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 | €661,779 | €672,854 | +€11,075 | +1.7% |
| Fixed assets | 21/28 | €436,949 | €422,361 | -€14,587 | -3.3% |
| Tangible fixed assets | 22/27 | €201,729 | €187,142 | -€14,587 | -7.2% |
| Land and buildings | 22 | €176,900 | €173,355 | -€3,545 | -2.0% |
| Furniture and vehicles | 24 | €24,829 | €13,787 | -€11,042 | -44.5% |
| Financial fixed assets | 28 | €235,220 | €235,220 | = | 0.0% |
| Current assets | 29/58 | €224,831 | €250,493 | +€25,662 | +11.4% |
| Amounts receivable after more than one year | 29 | €120,000 | €120,000 | = | 0.0% |
| Other amounts receivable | 291 | €120,000 | €120,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €95,751 | €113,955 | +€18,204 | +19.0% |
| Trade receivables | 40 | €16,780 | €108,490 | +€91,710 | +546.5% |
| Other amounts receivable | 41 | €78,971 | €5,465 | -€73,506 | -93.1% |
| Cash at bank and in hand | 54/58 | €7,155 | €14,395 | +€7,240 | +101.2% |
| Deferred charges and accrued income | 490/1 | €1,924 | €2,142 | +€218 | +11.3% |
| Total equity and liabilities | 10/49 | €661,779 | €672,854 | +€11,075 | +1.7% |
| Equity | 10/15 | €479,755 | €502,284 | +€22,529 | +4.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €470,860 | €493,385 | +€22,525 | +4.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €470,860 | €493,385 | +€22,525 | +4.8% |
| Profit (loss) carried forward | 14 | €2,695 | €2,699 | +€4 | +0.2% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Amounts payable | 17/49 | €182,024 | €170,570 | -€11,454 | -6.3% |
| Amounts payable after more than one year | 17 | €134,782 | €113,801 | -€20,981 | -15.6% |
| Financial debts | 170/4 | €134,782 | €113,801 | -€20,981 | -15.6% |
| Amounts payable within one year | 42/48 | €47,242 | €56,769 | +€9,527 | +20.2% |
| Current portion of amounts payable after more than one year | 42 | €22,880 | €22,062 | -€817 | -3.6% |
| Financial debts | 43 | €3,439 | €3,374 | -€65 | -1.9% |
| Credit institutions | 430/8 | €3,439 | €3,374 | -€65 | -1.9% |
| Trade debts | 44 | €8,486 | €677 | -€7,809 | -92.0% |
| Suppliers | 440/4 | €8,486 | €677 | -€7,809 | -92.0% |
| Taxes, remuneration and social security | 45 | €12,438 | €30,656 | +€18,218 | +146.5% |
| Taxes | 450/3 | €12,438 | €30,656 | +€18,218 | +146.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,149 | €18,467 | -€24,682 | -57.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€23,580 | €0 | +€23,580 | |
| Other operating charges | 640/8 | €4,083 | €898 | -€3,185 | -78.0% |
| Gross operating margin | 9900 | €39,345 | €68,006 | +€28,660 | +72.8% |
| Operating profit (loss) | 9901 | €15,693 | €48,640 | +€32,948 | +210.0% |
| Financial income | 75/76B | €54,426 | €51,261 | -€3,165 | -5.8% |
| Recurring financial income | 75 | €3,767 | €51,261 | +€47,494 | +1260.8% |
| Non-recurring financial income | 76B | €50,659 | €0 | -€50,659 | -100.0% |
| Financial charges | 65/66B | €7,387 | €6,048 | -€1,339 | -18.1% |
| Recurring financial charges | 65 | €7,387 | €6,048 | -€1,339 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €62,732 | €93,853 | +€31,121 | +49.6% |
| Income taxes | 67/77 | €8,630 | €26,324 | +€17,694 | +205.0% |
| Profit (loss) for the period | 9904 | €54,102 | €67,529 | +€13,427 | +24.8% |
| Profit (loss) for the period to be appropriated | 9905 | €54,102 | €67,529 | +€13,427 | +24.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.