M & S INFINITUM: 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.
M & S INFINITUM
Largest movements
- Intangible fixed assets -€19,652
no longer reported in 2025 (was €19,652)
- Formation expenses +€18,901
new in 2025: €18,901
- Receivables within one year +€11,366
up €11,366 (+18.7%), from €60,872 to €72,237
- Cash +€5,875
up €5,875 (+331%), from €1,776 to €7,651
mainly Net result for the year (+€46,152) and Other debts (+€14,176)
- Tangible fixed assets -€4,080
down €4,080 (-3.8%), from €107,600 to €103,520
- Reserves +€16,152
up €16,152 (+34.1%), from €47,318 to €63,469
- Other debts +€14,176
up €14,176 (+79.6%), from €17,805 to €31,981
- Tax, wage and social debts -€9,289
down €9,289 (-14.9%), from €62,323 to €53,034
of which Taxes: -€20,699
- Debts after one year -€8,628
down €8,628 (-16.9%), from €50,958 to €42,330
- Turnover -€363,678
no longer reported in 2025 (was €363,678)
- Purchases and services -€218,592
no longer reported in 2025 (was €218,592)
- Gross operating margin +€77,441
up €77,441 (+53.4%), from €145,085 to €222,526
- Staff costs +€44,216
up €44,216 (+45.2%), from €97,855 to €142,072
- Other operating charges +€12,723
up €12,723 (+183%), from €6,968 to €19,692
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 | €190,533 | €202,943 | +€12,410 | +6.5% |
| Formation expenses | 20 | - | €18,901 | +€18,901 | |
| Fixed assets | 21/28 | €127,653 | €103,922 | -€23,732 | -18.6% |
| Intangible fixed assets | 21 | €19,652 | - | -€19,652 | |
| Tangible fixed assets | 22/27 | €107,600 | €103,520 | -€4,080 | -3.8% |
| Land and buildings | 22 | €107,600 | €103,520 | -€4,080 | -3.8% |
| Financial fixed assets | 28 | €402 | €402 | = | 0.0% |
| Current assets | 29/58 | €62,879 | €80,120 | +€17,241 | +27.4% |
| Amounts receivable within one year | 40/41 | €60,872 | €72,237 | +€11,366 | +18.7% |
| Trade receivables | 40 | €60,872 | €72,237 | +€11,366 | +18.7% |
| Cash at bank and in hand | 54/58 | €1,776 | €7,651 | +€5,875 | +331% |
| Deferred charges and accrued income | 490/1 | €231 | €231 | = | 0.0% |
| Total equity and liabilities | 10/49 | €190,533 | €202,943 | +€12,410 | +6.5% |
| Equity | 10/15 | €50,818 | €66,969 | +€16,152 | +31.8% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €47,318 | €63,469 | +€16,152 | +34.1% |
| Distributable reserves | 133 | €47,318 | €63,469 | +€16,152 | +34.1% |
| Amounts payable | 17/49 | €139,715 | €135,974 | -€3,742 | -2.7% |
| Amounts payable after more than one year | 17 | €50,958 | €42,330 | -€8,628 | -16.9% |
| Financial debts | 170/4 | €50,958 | €42,330 | -€8,628 | -16.9% |
| Amounts payable within one year | 42/48 | €88,757 | €93,644 | +€4,887 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €8,628 | €8,628 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €62,323 | €53,034 | -€9,289 | -14.9% |
| Taxes | 450/3 | €42,307 | €21,608 | -€20,699 | -48.9% |
| Remuneration and social security | 454/9 | €20,016 | €31,426 | +€11,410 | +57.0% |
| Other amounts payable | 47/48 | €17,805 | €31,981 | +€14,176 | +79.6% |
| Turnover | 70 | €363,678 | - | -€363,678 | |
| Goods, raw materials, services and sundry goods | 60/61 | €218,592 | - | -€218,592 | |
| Remuneration, social security and pensions | 62 | €97,855 | €142,072 | +€44,216 | +45.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,321 | €4,830 | -€491 | -9.2% |
| Other operating charges | 640/8 | €6,968 | €19,692 | +€12,723 | +183% |
| Gross operating margin | 9900 | €145,085 | €222,526 | +€77,441 | +53.4% |
| Operating profit (loss) | 9901 | €34,941 | €55,933 | +€20,992 | +60.1% |
| Financial charges | 65/66B | €3,474 | €1,040 | -€2,434 | -70.1% |
| Recurring financial charges | 65 | €3,474 | €1,040 | -€2,434 | -70.1% |
| Profit (loss) for the period before taxes | 9903 | €31,467 | €54,893 | +€23,426 | +74.4% |
| Income taxes | 67/77 | €5,093 | €8,741 | +€3,648 | +71.6% |
| Profit (loss) for the period | 9904 | €26,374 | €46,152 | +€19,778 | +75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,374 | €46,152 | +€19,778 | +75.0% |
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 22 October 2026 via checked.be.