IRFAN.EFE: 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.
IRFAN.EFE
Largest movements
- Tangible fixed assets +€4,256
up €4,256 (+139%), from €3,069 to €7,325
of which Plant, machinery and equipment: +€4,436
- Cash -€752
down €752 (-15.8%), from €4,769 to €4,017
mainly Investment in fixed assets (net) (-€4,858) and Tax, wage and social debts (-€576)
- Stocks and contracts -€162
down €162 (-33.3%), from €487 to €325
- Revaluation surpluses +€25,920
new in 2025: €25,920
- Reserves -€25,920
no longer reported in 2025 (was €25,920)
- Trade debts +€3,895
up €3,895 (+1,170%), from €333 to €4,228
- Tax, wage and social debts -€576
down €576 (-42.4%), from €1,359 to €783
- Gross operating margin -€3,292
down €3,292 (-77.2%), from €4,265 to €973
- Financial charges -€417
down €417 (-65.9%), from €633 to €216
- Depreciation +€277
up €277 (+85.2%), from €325 to €602
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 | €8,325 | €11,667 | +€3,342 | +40.1% |
| Fixed assets | 21/28 | €3,069 | €7,325 | +€4,256 | +139% |
| Tangible fixed assets | 22/27 | €3,069 | €7,325 | +€4,256 | +139% |
| Plant, machinery and equipment | 23 | - | €4,436 | +€4,436 | |
| Furniture and vehicles | 24 | €1,123 | €1,068 | -€55 | -4.9% |
| Other tangible fixed assets | 26 | €1,946 | €1,821 | -€125 | -6.4% |
| Current assets | 29/58 | €5,256 | €4,342 | -€914 | -17.4% |
| Stocks and contracts in progress | 3 | €487 | €325 | -€162 | -33.3% |
| Stocks | 30/36 | €487 | €325 | -€162 | -33.3% |
| Cash at bank and in hand | 54/58 | €4,769 | €4,017 | -€752 | -15.8% |
| Total equity and liabilities | 10/49 | €8,325 | €11,667 | +€3,342 | +40.1% |
| Equity | 10/15 | €6,620 | €6,643 | +€23 | +0.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | - | €25,920 | +€25,920 | |
| Reserves | 13 | €25,920 | - | -€25,920 | |
| Distributable reserves | 133 | €25,920 | - | -€25,920 | |
| Profit (loss) carried forward | 14 | -€25,500 | -€25,477 | +€23 | +0.1% |
| Amounts payable | 17/49 | €1,705 | €5,024 | +€3,319 | +195% |
| Amounts payable within one year | 42/48 | €1,705 | €5,024 | +€3,319 | +195% |
| Trade debts | 44 | €333 | €4,228 | +€3,895 | +1,170% |
| Suppliers | 440/4 | €333 | €4,228 | +€3,895 | +1,170% |
| Taxes, remuneration and social security | 45 | €1,359 | €783 | -€576 | -42.4% |
| Taxes | 450/3 | €1,359 | €783 | -€576 | -42.4% |
| Other amounts payable | 47/48 | €13 | €13 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €325 | €602 | +€277 | +85.2% |
| Other operating charges | 640/8 | €132 | €132 | = | 0.0% |
| Gross operating margin | 9900 | €4,265 | €973 | -€3,292 | -77.2% |
| Operating profit (loss) | 9901 | €3,808 | €239 | -€3,569 | -93.7% |
| Financial charges | 65/66B | €633 | €216 | -€417 | -65.9% |
| Recurring financial charges | 65 | €633 | €216 | -€417 | -65.9% |
| Profit (loss) for the period before taxes | 9903 | €3,175 | €23 | -€3,152 | -99.3% |
| Profit (loss) for the period | 9904 | €3,175 | €23 | -€3,152 | -99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,175 | €23 | -€3,152 | -99.3% |
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 27 October 2026 via checked.be.