V. & L. Infad: 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.
V. & L. Infad
Largest movements
- Cash -€10,506
down €10,506 (-18.4%), from €57,117 to €46,611
mainly Contributions, distributions and other (-€22,212) and Receivables within one year (-€3,104)
- Receivables within one year +€3,104
up €3,104 (+1,350%), from €230 to €3,334
- Tangible fixed assets +€1,855
new in 2025: €1,855
- Tax, wage and social debts +€7,302
up €7,302 (+38.2%), from €19,105 to €26,407
of which Taxes: +€4,522
- Profit (loss) carried forward -€7,251
down €7,251 (-31.8%), from €22,800 to €15,549
- Other debts -€2,806
down €2,806 (-52.9%), from €5,308 to €2,501
- Trade debts -€2,792
down €2,792 (-54.4%), from €5,134 to €2,342
- Gross operating margin +€36,705
up €36,705 (+154%), from €23,882 to €60,587
- Other operating charges +€18,847
new in 2025: €18,847
- Taxes +€10,770
up €10,770 (+148%), from €7,280 to €18,050
- Staff costs +€7,708
new in 2025: €7,708
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 | €57,347 | €51,800 | -€5,547 | -9.7% |
| Fixed assets | 21/28 | - | €1,855 | +€1,855 | |
| Tangible fixed assets | 22/27 | - | €1,855 | +€1,855 | |
| Plant, machinery and equipment | 23 | - | €1,855 | +€1,855 | |
| Current assets | 29/58 | €57,347 | €49,945 | -€7,402 | -12.9% |
| Amounts receivable within one year | 40/41 | €230 | €3,334 | +€3,104 | +1,350% |
| Trade receivables | 40 | €230 | €3,334 | +€3,104 | +1,350% |
| Cash at bank and in hand | 54/58 | €57,117 | €46,611 | -€10,506 | -18.4% |
| Total equity and liabilities | 10/49 | €57,347 | €51,800 | -€5,547 | -9.7% |
| Equity | 10/15 | €27,800 | €20,549 | -€7,251 | -26.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,800 | €15,549 | -€7,251 | -31.8% |
| Amounts payable | 17/49 | €29,546 | €31,250 | +€1,704 | +5.8% |
| Amounts payable within one year | 42/48 | €29,546 | €31,250 | +€1,704 | +5.8% |
| Trade debts | 44 | €5,134 | €2,342 | -€2,792 | -54.4% |
| Suppliers | 440/4 | €5,134 | €2,342 | -€2,792 | -54.4% |
| Taxes, remuneration and social security | 45 | €19,105 | €26,407 | +€7,302 | +38.2% |
| Taxes | 450/3 | €8,707 | €13,229 | +€4,522 | +51.9% |
| Remuneration and social security | 454/9 | €10,398 | €13,178 | +€2,780 | +26.7% |
| Other amounts payable | 47/48 | €5,308 | €2,501 | -€2,806 | -52.9% |
| Remuneration, social security and pensions | 62 | - | €7,708 | +€7,708 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €572 | +€572 | |
| Other operating charges | 640/8 | - | €18,847 | +€18,847 | |
| Gross operating margin | 9900 | €23,882 | €60,587 | +€36,705 | +154% |
| Operating profit (loss) | 9901 | €23,882 | €33,461 | +€9,579 | +40.1% |
| Financial charges | 65/66B | €261 | €449 | +€188 | +72.1% |
| Recurring financial charges | 65 | €261 | €449 | +€188 | +72.1% |
| Profit (loss) for the period before taxes | 9903 | €23,621 | €33,011 | +€9,390 | +39.8% |
| Income taxes | 67/77 | €7,280 | €18,050 | +€10,770 | +148% |
| Profit (loss) for the period | 9904 | €16,341 | €14,961 | -€1,379 | -8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,341 | €14,961 | -€1,379 | -8.4% |
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 23 October 2026 via checked.be.