EXA Infrastructure Belgium: 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.
What changed
EXA Infrastructure Belgium
NACE 61.100, Wired, wireless and satellite telecommunications
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1.6m
2024 · -€4.5m+€2.9m
Equity
€29.2m
2024 · -€9.2m+€38.4m
Cash
€679,660
2024 · €616,400+€63,261
Balance sheet total
€200.1m
2024 · €174.4m+€25.7m
Largest movements
Assets
- Receivables within one year +€30.3m
up €30.3m (+25.3%), from €119.8m to €150.1m
of which Other amounts receivable: +€32.1m
- Intangible fixed assets -€7.9m
down €7.9m (-49.9%), from €15.7m to €7.9m
- Tangible fixed assets +€4.8m
up €4.8m (+16.6%), from €28.7m to €33.5m
of which Plant, machinery and equipment: +€17.4m
Equity and liabilities
- Profit (loss) carried forward +€24.0m
up €24.0m (+93.7%), from -€25.6m to -€1.6m
- Other debts -€15.3m
down €15.3m (-8.7%), from €177.0m to €161.6m
- Contributions +€14.4m
up €14.4m (+87.8%), from €16.4m to €30.8m
- Trade debts +€3.4m
up €3.4m (+91.2%), from €3.7m to €7.2m
Income statement
- Write-downs -€7.7m
down €7.7m, from €6.0m to -€1.7m
- Turnover -€6.1m
down €6.1m (-28.4%), from €21.3m to €15.3m
- Financial income +€1.9m
up €1.9m (+87.8%), from €2.2m to €4.1m
of which Financial income: +€1.6m
- Depreciation +€1.9m
up €1.9m (+24.6%), from €7.8m to €9.7m
- Financial charges -€1.0m
down €1.0m (-13.7%), from €7.5m to €6.5m
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.
Result 2024
-€4.5m
Turnover
-€6.1m
Other operating income
+€233,364
Goods and materials
+€217,868
Services and other goods
-€147,170
Staff costs
-€57,171
Depreciation
-€1.9m
Write-downs
+€7.7m
Other operating charges
-€95,327
Financial income
+€1.9m
Financial charges
+€1.0m
Taxes
+€72,455
Result 2025
-€1.6m
raises the resultlowers the result
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.
From operations
-€32.6m
Investment
-€6.6m
Financing
+€39.3m
Cash 2024
€616,400
From operations (derived)
-€32.6m
Net result for the year
-€1.6m
Depreciation
+€9.7m
Stocks and contracts
+€1.5m
Receivables within one year
-€30.3m
Smaller working-capital items
+€159,071
Trade debts
+€3.4m
Other debts
-€15.3m
Accrued charges and deferred income
-€146,486
Investment (derived)
-€6.6m
Investment in fixed assets (net)
-€6.6m
Financing
+€39.3m
Debts after one year
-€700,423
Contributions, distributions and other
+€40.0m
Cash 2025
€679,660
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €174,373,222 | €200,084,263 | +€25.7m | +14.7% |
| Fixed assets | 21/28 | €45,559,466 | €42,476,108 | -€3.1m | -6.8% |
| Intangible fixed assets | 21 | €15,739,043 | €7,877,897 | -€7.9m | -49.9% |
| Tangible fixed assets | 22/27 | €28,711,138 | €33,488,928 | +€4.8m | +16.6% |
| Plant, machinery and equipment | 23 | €14,358,180 | €31,761,180 | +€17.4m | +121% |
| Leasing and similar rights | 25 | €1,868,114 | €1,035,044 | -€833,071 | -44.6% |
| Assets under construction and advance payments | 27 | €12,484,844 | €692,704 | -€11.8m | -94.5% |
| Financial fixed assets | 28 | €1,109,284 | €1,109,284 | = | 0.0% |
| Affiliated companies | 280/1 | €1,000,000 | €1,000,000 | = | 0.0% |
| Participating interests | 280 | €1,000,000 | €1,000,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €109,284 | €109,284 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €109,284 | €109,284 | = | 0.0% |
| Current assets | 29/58 | €128,813,756 | €157,608,155 | +€28.8m | +22.4% |
| Stocks and contracts in progress | 3 | €7,531,077 | €6,076,324 | -€1.5m | -19.3% |
| Stocks | 30/36 | €7,531,077 | €6,076,324 | -€1.5m | -19.3% |
| Goods purchased for resale | 34 | €7,531,077 | €6,076,324 | -€1.5m | -19.3% |
| Amounts receivable within one year | 40/41 | €119,804,353 | €150,060,331 | +€30.3m | +25.3% |
| Trade receivables | 40 | €2,702,363 | €815,725 | -€1.9m | -69.8% |
| Other amounts receivable | 41 | €117,101,990 | €149,244,606 | +€32.1m | +27.4% |
| Cash at bank and in hand | 54/58 | €616,400 | €679,660 | +€63,261 | +10.3% |
| Deferred charges and accrued income | 490/1 | €861,927 | €791,840 | -€70,087 | -8.1% |
| Total equity and liabilities | 10/49 | €174,373,222 | €200,084,263 | +€25.7m | +14.7% |
| Equity | 10/15 | -€9,192,680 | €29,199,606 | +€38.4m | |
| Contributions | 10/11 | €16,400,022 | €30,807,320 | +€14.4m | +87.8% |
| Capital | 10 | €16,400,022 | €30,807,320 | +€14.4m | +87.8% |
| Issued capital | 100 | €16,400,022 | €30,807,320 | +€14.4m | +87.8% |
| Profit (loss) carried forward | 14 | -€25,592,702 | -€1,607,715 | +€24.0m | +93.7% |
| Amounts payable | 17/49 | €183,565,902 | €170,884,658 | -€12.7m | -6.9% |
| Amounts payable after more than one year | 17 | €2,111,050 | €1,410,627 | -€700,423 | -33.2% |
| Financial debts | 170/4 | €2,111,050 | €1,410,627 | -€700,423 | -33.2% |
| Leasing and similar obligations | 172 | €2,111,050 | €1,410,627 | -€700,423 | -33.2% |
| Amounts payable within one year | 42/48 | €180,785,184 | €168,950,849 | -€11.8m | -6.5% |
| Trade debts | 44 | €3,749,238 | €7,168,761 | +€3.4m | +91.2% |
| Suppliers | 440/4 | €3,749,238 | €7,168,761 | +€3.4m | +91.2% |
| Taxes, remuneration and social security | 45 | €78,285 | €167,269 | +€88,984 | +114% |
| Taxes | 450/3 | €74,942 | €122,911 | +€47,970 | +64.0% |
| Remuneration and social security | 454/9 | €3,343 | €44,358 | +€41,014 | +1,227% |
| Other amounts payable | 47/48 | €176,957,661 | €161,614,819 | -€15.3m | -8.7% |
| Accrued charges and deferred income | 492/3 | €669,668 | €523,182 | -€146,486 | -21.9% |
| Operating income | 70/76A | €21,358,094 | €15,541,409 | -€5.8m | -27.2% |
| Turnover | 70 | €21,325,800 | €15,275,752 | -€6.1m | -28.4% |
| Other operating income | 74 | €32,293 | €265,657 | +€233,364 | +723% |
| Operating charges | 60/66A | €20,505,785 | €14,836,485 | -€5.7m | -27.6% |
| Goods for resale, raw materials and consumables | 60 | €5,444,444 | €5,226,576 | -€217,868 | -4.0% |
| Purchases | 600/8 | €5,444,444 | €5,226,576 | -€217,868 | -4.0% |
| Services and other goods | 61 | €863,438 | €1,010,608 | +€147,170 | +17.0% |
| Remuneration, social security and pensions | 62 | €407,353 | €464,524 | +€57,171 | +14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,765,625 | €9,677,209 | +€1.9m | +24.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,975,434 | -€1,687,249 | -€7.7m | |
| Other operating charges | 640/8 | €49,490 | €144,817 | +€95,327 | +193% |
| Operating profit (loss) | 9901 | €852,309 | €704,924 | -€147,385 | -17.3% |
| Financial income | 75/76B | €2,192,745 | €4,118,719 | +€1.9m | +87.8% |
| Recurring financial income | 75 | €1,791,428 | €3,362,174 | +€1.6m | +87.7% |
| Income from current assets | 751 | €1,791,428 | €3,362,174 | +€1.6m | +87.7% |
| Non-recurring financial income | 76B | €401,316 | €756,545 | +€355,229 | +88.5% |
| Financial charges | 65/66B | €7,519,053 | €6,492,200 | -€1.0m | -13.7% |
| Recurring financial charges | 65 | €7,519,053 | €6,492,200 | -€1.0m | -13.7% |
| Debt charges | 650 | €7,519,053 | €6,492,200 | -€1.0m | -13.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,473,999 | -€1,668,557 | +€2.8m | +62.7% |
| Income taxes | 67/77 | €11,612 | -€60,843 | -€72,455 | |
| Taxes | 670/3 | €11,612 | - | -€11,612 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €60,843 | +€60,843 | |
| Profit (loss) for the period | 9904 | -€4,485,612 | -€1,607,715 | +€2.9m | +64.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,485,612 | -€1,607,715 | +€2.9m | +64.2% |
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 1 November 2026 via checked.be.