InfraConstruct: 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.
InfraConstruct
Largest movements
- Cash +€296,756
up €296,756 (+632.5%), from €46,916 to €343,672
mainly Investment in fixed assets (net) (+€234,224) and Net result for the year (+€41,449)
- Tangible fixed assets -€262,086
down €262,086 (-72.5%), from €361,571 to €99,485
of which Land and buildings: -€238,833
- Receivables within one year -€5,259
down €5,259 (-32.8%), from €16,030 to €10,771
of which Trade receivables: -€5,259
- Reserves +€41,449
up €41,449 (+13.7%), from €302,479 to €343,927
of which Distributable reserves: +€41,449
- Other debts -€16,703
down €16,703 (-15.6%), from €106,923 to €90,220
- Tax, wage and social debts +€4,638
up €4,638 (+44.4%), from €10,456 to €15,094
- Other operating charges +€7,461
up €7,461 (+504.9%), from €1,478 to €8,939
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 | €427,173 | €456,470 | +€29,297 | +6.9% |
| Fixed assets | 21/28 | €361,571 | €99,485 | -€262,086 | -72.5% |
| Tangible fixed assets | 22/27 | €361,571 | €99,485 | -€262,086 | -72.5% |
| Land and buildings | 22 | €272,284 | €33,452 | -€238,833 | -87.7% |
| Plant, machinery and equipment | 23 | €7,486 | €4,838 | -€2,648 | -35.4% |
| Furniture and vehicles | 24 | €81,801 | €61,196 | -€20,606 | -25.2% |
| Current assets | 29/58 | €65,602 | €356,985 | +€291,383 | +444.2% |
| Amounts receivable within one year | 40/41 | €16,030 | €10,771 | -€5,259 | -32.8% |
| Trade receivables | 40 | €16,030 | €10,771 | -€5,259 | -32.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €46,916 | €343,672 | +€296,756 | +632.5% |
| Deferred charges and accrued income | 490/1 | €2,656 | €2,542 | -€114 | -4.3% |
| Total equity and liabilities | 10/49 | €427,173 | €456,470 | +€29,297 | +6.9% |
| Equity | 10/15 | €308,679 | €350,127 | +€41,449 | +13.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €302,479 | €343,927 | +€41,449 | +13.7% |
| Tax-exempt reserves | 132 | €9,165 | €9,165 | = | 0.0% |
| Distributable reserves | 133 | €293,313 | €334,762 | +€41,449 | +14.1% |
| Amounts payable | 17/49 | €118,494 | €106,343 | -€12,152 | -10.3% |
| Amounts payable within one year | 42/48 | €118,494 | €106,343 | -€12,152 | -10.3% |
| Trade debts | 44 | €1,116 | €1,029 | -€87 | -7.8% |
| Suppliers | 440/4 | €1,116 | €1,029 | -€87 | -7.8% |
| Taxes, remuneration and social security | 45 | €10,456 | €15,094 | +€4,638 | +44.4% |
| Taxes | 450/3 | €10,456 | €15,094 | +€4,638 | +44.4% |
| Other amounts payable | 47/48 | €106,923 | €90,220 | -€16,703 | -15.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,800 | €27,862 | -€938 | -3.3% |
| Other operating charges | 640/8 | €1,478 | €8,939 | +€7,461 | +504.9% |
| Non-recurring operating charges | 66A | €0 | €6,595 | +€6,595 | |
| Gross operating margin | 9900 | €104,151 | €104,611 | +€460 | +0.4% |
| Operating profit (loss) | 9901 | €73,874 | €61,215 | -€12,659 | -17.1% |
| Financial income | 75/76B | €0 | €200 | +€200 | |
| Recurring financial income | 75 | €0 | €200 | +€200 | |
| Financial charges | 65/66B | €69 | €78 | +€9 | +12.8% |
| Recurring financial charges | 65 | €69 | €78 | +€9 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €73,805 | €61,337 | -€12,468 | -16.9% |
| Income taxes | 67/77 | €20,589 | €19,888 | -€701 | -3.4% |
| Profit (loss) for the period | 9904 | €53,215 | €41,449 | -€11,766 | -22.1% |
| Profit (loss) for the period to be appropriated | 9905 | €53,215 | €41,449 | -€11,766 | -22.1% |
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 5 October 2026 via checked.be.