BA-Infra: 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.
BA-Infra
Largest movements
- Cash -€48,089
down €48,089 (-57.9%), from €82,998 to €34,909
mainly Contributions, distributions and other (-€176,000) and Receivables within one year (-€27,139)
- Receivables within one year +€27,139
up €27,139 (+1,852%), from €1,465 to €28,604
of which Trade receivables: +€20,833
- Tangible fixed assets -€14,022
down €14,022 (-39.9%), from €35,114 to €21,091
- Reserves -€32,902
down €32,902 (-71.3%), from €46,151 to €13,249
- Advances received +€25,208
new in 2025: €25,208
- Other debts -€9,099
down €9,099 (-75.3%), from €12,084 to €2,985
- Debts after one year -€7,619
no longer reported in 2025 (was €7,619)
- Current portion of long-term debt -€5,177
down €5,177 (-40.5%), from €12,796 to €7,619
- Gross operating margin +€30,239
up €30,239 (+19.9%), from €151,768 to €182,007
- Financial income +€13,399
new in 2025: €13,399
of which Financial income: +€13,399
- Taxes +€5,632
up €5,632 (+18.8%), from €30,035 to €35,666
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 | €126,822 | €91,039 | -€35,783 | -28.2% |
| Fixed assets | 21/28 | €36,214 | €21,091 | -€15,122 | -41.8% |
| Tangible fixed assets | 22/27 | €35,114 | €21,091 | -€14,022 | -39.9% |
| Furniture and vehicles | 24 | €35,114 | €21,091 | -€14,022 | -39.9% |
| Financial fixed assets | 28 | €1,100 | - | -€1,100 | |
| Current assets | 29/58 | €90,609 | €69,948 | -€20,661 | -22.8% |
| Amounts receivable within one year | 40/41 | €1,465 | €28,604 | +€27,139 | +1,852% |
| Trade receivables | 40 | - | €20,833 | +€20,833 | |
| Other amounts receivable | 41 | €1,465 | €7,771 | +€6,306 | +430% |
| Cash at bank and in hand | 54/58 | €82,998 | €34,909 | -€48,089 | -57.9% |
| Deferred charges and accrued income | 490/1 | €6,146 | €6,434 | +€289 | +4.7% |
| Total equity and liabilities | 10/49 | €126,822 | €91,039 | -€35,783 | -28.2% |
| Equity | 10/15 | €66,611 | €33,709 | -€32,902 | -49.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €46,151 | €13,249 | -€32,902 | -71.3% |
| Distributable reserves | 133 | €46,151 | €13,249 | -€32,902 | -71.3% |
| Amounts payable | 17/49 | €60,211 | €57,330 | -€2,881 | -4.8% |
| Amounts payable after more than one year | 17 | €7,619 | - | -€7,619 | |
| Financial debts | 170/4 | €7,619 | - | -€7,619 | |
| Amounts payable within one year | 42/48 | €52,592 | €57,330 | +€4,738 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €12,796 | €7,619 | -€5,177 | -40.5% |
| Trade debts | 44 | €4,927 | €411 | -€4,516 | -91.6% |
| Suppliers | 440/4 | €4,927 | €411 | -€4,516 | -91.6% |
| Advances received on contracts in progress | 46 | - | €25,208 | +€25,208 | |
| Taxes, remuneration and social security | 45 | €22,785 | €21,106 | -€1,678 | -7.4% |
| Taxes | 450/3 | €22,785 | €21,106 | -€1,678 | -7.4% |
| Other amounts payable | 47/48 | €12,084 | €2,985 | -€9,099 | -75.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,312 | €14,022 | -€289 | -2.0% |
| Other operating charges | 640/8 | €997 | €2,011 | +€1,014 | +102% |
| Gross operating margin | 9900 | €151,768 | €182,007 | +€30,239 | +19.9% |
| Operating profit (loss) | 9901 | €136,459 | €165,973 | +€29,514 | +21.6% |
| Financial income | 75/76B | - | €13,399 | +€13,399 | |
| Recurring financial income | 75 | - | €13,399 | +€13,399 | |
| Non-recurring financial income | 76B | - | €13,399 | +€13,399 | |
| Financial charges | 65/66B | €983 | €608 | -€375 | -38.2% |
| Recurring financial charges | 65 | €983 | €608 | -€375 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | €135,477 | €178,765 | +€43,288 | +32.0% |
| Income taxes | 67/77 | €30,035 | €35,666 | +€5,632 | +18.8% |
| Profit (loss) for the period | 9904 | €105,442 | €143,098 | +€37,656 | +35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €105,442 | €143,098 | +€37,656 | +35.7% |
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 18 October 2026 via checked.be.