Infrabuild: 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.
Infrabuild
Largest movements
- Deferred charges and accrued income -€84,561
no longer reported in 2025 (was €84,561)
- Tangible fixed assets +€72,608
up €72,608 (+12.4%), from €587,559 to €660,167
of which Furniture and vehicles: +€73,411
- Cash -€64,038
down €64,038 (-52.3%), from €122,426 to €58,389
mainly Investment in fixed assets (net) (-€180,542) and Trade debts (-€179,168)
- Trade debts -€179,168
down €179,168 (-97.0%), from €184,700 to €5,532
- Reserves +€123,421
up €123,421 (+25.0%), from €494,469 to €617,890
- Debts after one year -€71,552
down €71,552 (-8.7%), from €821,090 to €749,538
- Current portion of long-term debt +€67,354
up €67,354 (+103.3%), from €65,210 to €132,564
- Other debts -€33,125
down €33,125 (-33.1%), from €100,000 to €66,875
- Other operating charges -€70,853
down €70,853 (-93.0%), from €76,152 to €5,300
- Depreciation +€27,805
up €27,805 (+34.7%), from €80,128 to €107,933
- Financial charges +€11,313
up €11,313 (+37.1%), from €30,468 to €41,781
- Gross operating margin -€7,881
down €7,881 (-2.5%), from €317,222 to €309,341
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 | €1,700,848 | €1,613,275 | -€87,574 | -5.1% |
| Fixed assets | 21/28 | €1,291,481 | €1,364,089 | +€72,608 | +5.6% |
| Tangible fixed assets | 22/27 | €587,559 | €660,167 | +€72,608 | +12.4% |
| Land and buildings | 22 | €20,837 | €42,045 | +€21,208 | +101.8% |
| Plant, machinery and equipment | 23 | €372,642 | €350,632 | -€22,011 | -5.9% |
| Furniture and vehicles | 24 | €194,079 | €267,490 | +€73,411 | +37.8% |
| Financial fixed assets | 28 | €703,922 | €703,922 | = | 0.0% |
| Current assets | 29/58 | €409,368 | €249,186 | -€160,182 | -39.1% |
| Amounts receivable within one year | 40/41 | €202,380 | €190,797 | -€11,583 | -5.7% |
| Trade receivables | 40 | €193,215 | €186,955 | -€6,260 | -3.2% |
| Other amounts receivable | 41 | €9,166 | €3,842 | -€5,324 | -58.1% |
| Cash at bank and in hand | 54/58 | €122,426 | €58,389 | -€64,038 | -52.3% |
| Deferred charges and accrued income | 490/1 | €84,561 | - | -€84,561 | |
| Total equity and liabilities | 10/49 | €1,700,848 | €1,613,275 | -€87,574 | -5.1% |
| Equity | 10/15 | €500,669 | €624,090 | +€123,421 | +24.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €494,469 | €617,890 | +€123,421 | +25.0% |
| Distributable reserves | 133 | €494,469 | €617,890 | +€123,421 | +25.0% |
| Amounts payable | 17/49 | €1,200,179 | €989,185 | -€210,994 | -17.6% |
| Amounts payable after more than one year | 17 | €821,090 | €749,538 | -€71,552 | -8.7% |
| Financial debts | 170/4 | €821,090 | €749,538 | -€71,552 | -8.7% |
| Amounts payable within one year | 42/48 | €359,765 | €221,658 | -€138,107 | -38.4% |
| Current portion of amounts payable after more than one year | 42 | €65,210 | €132,564 | +€67,354 | +103.3% |
| Trade debts | 44 | €184,700 | €5,532 | -€179,168 | -97.0% |
| Suppliers | 440/4 | €184,700 | €5,532 | -€179,168 | -97.0% |
| Taxes, remuneration and social security | 45 | €9,854 | €16,686 | +€6,832 | +69.3% |
| Taxes | 450/3 | €9,854 | €16,686 | +€6,832 | +69.3% |
| Other amounts payable | 47/48 | €100,000 | €66,875 | -€33,125 | -33.1% |
| Accrued charges and deferred income | 492/3 | €19,325 | €17,989 | -€1,336 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,128 | €107,933 | +€27,805 | +34.7% |
| Other operating charges | 640/8 | €76,152 | €5,300 | -€70,853 | -93.0% |
| Gross operating margin | 9900 | €317,222 | €309,341 | -€7,881 | -2.5% |
| Operating profit (loss) | 9901 | €160,941 | €196,108 | +€35,167 | +21.9% |
| Financial income | 75/76B | €1,331 | - | -€1,331 | |
| Recurring financial income | 75 | €1,331 | - | -€1,331 | |
| Financial charges | 65/66B | €30,468 | €41,781 | +€11,313 | +37.1% |
| Recurring financial charges | 65 | €30,468 | €41,781 | +€11,313 | +37.1% |
| Profit (loss) for the period before taxes | 9903 | €131,804 | €154,327 | +€22,523 | +17.1% |
| Income taxes | 67/77 | €30,000 | €30,906 | +€906 | +3.0% |
| Profit (loss) for the period | 9904 | €101,804 | €123,421 | +€21,617 | +21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €101,804 | €123,421 | +€21,617 | +21.2% |
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 29 September 2026 via checked.be.