BEL-INFRATEC: 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.
BEL-INFRATEC
Largest movements
- Receivables within one year -€20,681
down €20,681 (-59.5%), from €34,775 to €14,094
of which Trade receivables: -€20,700
- Cash -€11,457
down €11,457 (-54.9%), from €20,855 to €9,398
mainly Net result for the year (-€25,071) and Tax, wage and social debts (-€7,545)
- Deferred charges and accrued income +€748
up €748 (+5.8%), from €12,877 to €13,625
- Profit (loss) carried forward -€25,071
down €25,071 (-61.0%), from €41,075 to €16,004
- Tax, wage and social debts -€7,545
down €7,545 (-41.4%), from €18,215 to €10,670
of which Remuneration and social security: -€5,246
- Trade debts +€1,226
up €1,226 (+90.0%), from €1,362 to €2,588
- Gross operating margin -€45,443
down €45,443, from €20,929 to -€24,514
- Taxes -€3,488
down €3,488 (-99.7%), from €3,500 to €12
- Financial charges -€2,791
down €2,791 (-82.7%), from €3,375 to €584
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 | €68,707 | €37,317 | -€31,390 | -45.7% |
| Fixed assets | 21/28 | €200 | €200 | = | 0.0% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €68,507 | €37,117 | -€31,390 | -45.8% |
| Amounts receivable within one year | 40/41 | €34,775 | €14,094 | -€20,681 | -59.5% |
| Trade receivables | 40 | €30,362 | €9,662 | -€20,700 | -68.2% |
| Other amounts receivable | 41 | €4,413 | €4,432 | +€19 | +0.4% |
| Cash at bank and in hand | 54/58 | €20,855 | €9,398 | -€11,457 | -54.9% |
| Deferred charges and accrued income | 490/1 | €12,877 | €13,625 | +€748 | +5.8% |
| Total equity and liabilities | 10/49 | €68,707 | €37,317 | -€31,390 | -45.7% |
| Equity | 10/15 | €46,075 | €21,004 | -€25,071 | -54.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,075 | €16,004 | -€25,071 | -61.0% |
| Amounts payable | 17/49 | €22,632 | €16,313 | -€6,319 | -27.9% |
| Amounts payable within one year | 42/48 | €22,632 | €16,313 | -€6,319 | -27.9% |
| Trade debts | 44 | €1,362 | €2,588 | +€1,226 | +90.0% |
| Suppliers | 440/4 | €1,362 | €2,588 | +€1,226 | +90.0% |
| Taxes, remuneration and social security | 45 | €18,215 | €10,670 | -€7,545 | -41.4% |
| Taxes | 450/3 | €7,250 | €4,951 | -€2,299 | -31.7% |
| Remuneration and social security | 454/9 | €10,965 | €5,719 | -€5,246 | -47.8% |
| Other amounts payable | 47/48 | €3,055 | €3,055 | = | 0.0% |
| Gross operating margin | 9900 | €20,929 | -€24,514 | -€45,443 | |
| Operating profit (loss) | 9901 | €20,929 | -€24,514 | -€45,443 | |
| Financial income | 75/76B | - | €39 | +€39 | |
| Recurring financial income | 75 | - | €39 | +€39 | |
| Financial charges | 65/66B | €3,375 | €584 | -€2,791 | -82.7% |
| Recurring financial charges | 65 | €3,375 | €584 | -€2,791 | -82.7% |
| Profit (loss) for the period before taxes | 9903 | €17,554 | -€25,059 | -€42,613 | |
| Income taxes | 67/77 | €3,500 | €12 | -€3,488 | -99.7% |
| Profit (loss) for the period | 9904 | €14,054 | -€25,071 | -€39,125 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,054 | -€25,071 | -€39,125 |
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 29 October 2026 via checked.be.