INFRA-RED: what changed
Two fiscal 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.
INFRA-RED
Largest movements
- Receivables within one year +€6,191
up €6,191 (+52.2%), from €11,858 to €18,049
of which Trade receivables: +€4,432
- Cash +€3,649
up €3,649 (+20.4%), from €17,907 to €21,556
mainly Net result for the year (+€7,622) and Depreciation (+€1,086)
- Tangible fixed assets -€1,086
down €1,086 (-15.9%), from €6,849 to €5,763
of which Furniture and vehicles: -€1,086
- Profit (loss) carried forward +€7,622
up €7,622 (+60.2%), from €12,653 to €20,275
- Tax, wage and social debts +€1,008
up €1,008 (+13.0%), from €7,772 to €8,779
of which Taxes: +€858
- Other debts -€463
down €463 (-100.0%), from €463 to €0
- Depreciation -€4,146
down €4,146 (-79.2%), from €5,232 to €1,086
- Gross operating margin -€3,479
down €3,479 (-19.2%), from €18,126 to €14,648
- Other operating charges -€439
down €439 (-31.6%), from €1,389 to €950
- Financial income -€422
down €422 (-100.0%), from €422 to €0
- Taxes -€290
down €290 (-8.9%), from €3,273 to €2,983
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.
Cash bridge derived
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 | €37,210 | €45,597 | +€8,387 | +22.5% |
| Fixed assets | 21/28 | €7,029 | €5,943 | -€1,086 | -15.5% |
| Tangible fixed assets | 22/27 | €6,849 | €5,763 | -€1,086 | -15.9% |
| Furniture and vehicles | 24 | €2,349 | €1,263 | -€1,086 | -46.2% |
| Assets under construction and advance payments | 27 | €4,500 | €4,500 | = | 0.0% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €30,182 | €39,655 | +€9,473 | +31.4% |
| Amounts receivable within one year | 40/41 | €11,858 | €18,049 | +€6,191 | +52.2% |
| Trade receivables | 40 | €11,858 | €16,290 | +€4,432 | +37.4% |
| Other amounts receivable | 41 | - | €1,759 | +€1,759 | |
| Cash at bank and in hand | 54/58 | €17,907 | €21,556 | +€3,649 | +20.4% |
| Deferred charges and accrued income | 490/1 | €416 | €49 | -€367 | -88.2% |
| Total equity and liabilities | 10/49 | €37,210 | €45,597 | +€8,387 | +22.5% |
| Equity | 10/15 | €21,023 | €28,645 | +€7,622 | +36.3% |
| Contributions | 10/11 | €6,510 | €6,510 | = | 0.0% |
| Outside capital | 11 | €6,510 | - | -€6,510 | |
| Other | 1109/19 | €6,510 | - | -€6,510 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,653 | €20,275 | +€7,622 | +60.2% |
| Amounts payable | 17/49 | €16,187 | €16,953 | +€765 | +4.7% |
| Amounts payable within one year | 42/48 | €16,187 | €16,953 | +€765 | +4.7% |
| Financial debts | 43 | - | €3 | +€3 | |
| Credit institutions | 430/8 | - | €3 | +€3 | |
| Trade debts | 44 | €7,953 | €8,171 | +€218 | +2.7% |
| Suppliers | 440/4 | €7,953 | €8,171 | +€218 | +2.7% |
| Taxes, remuneration and social security | 45 | €7,772 | €8,779 | +€1,008 | +13.0% |
| Taxes | 450/3 | €7,772 | €8,629 | +€858 | +11.0% |
| Remuneration and social security | 454/9 | - | €150 | +€150 | |
| Other amounts payable | 47/48 | €463 | €0 | -€463 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,232 | €1,086 | -€4,146 | -79.2% |
| Other operating charges | 640/8 | €1,389 | €950 | -€439 | -31.6% |
| Non-recurring operating charges | 66A | €83 | €1,798 | +€1,716 | +2078.5% |
| Gross operating margin | 9900 | €18,126 | €14,648 | -€3,479 | -19.2% |
| Operating profit (loss) | 9901 | €11,423 | €10,814 | -€609 | -5.3% |
| Financial income | 75/76B | €422 | €0 | -€422 | -100.0% |
| Recurring financial income | 75 | €422 | €0 | -€422 | -100.0% |
| Financial charges | 65/66B | €408 | €209 | -€199 | -48.7% |
| Recurring financial charges | 65 | €408 | €209 | -€199 | -48.7% |
| Profit (loss) for the period before taxes | 9903 | €11,437 | €10,605 | -€832 | -7.3% |
| Income taxes | 67/77 | €3,273 | €2,983 | -€290 | -8.9% |
| Profit (loss) for the period | 9904 | €8,164 | €7,622 | -€542 | -6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,164 | €7,622 | -€542 | -6.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.