INFRAFLEX: 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.
INFRAFLEX
Largest movements
- Receivables within one year -€178,955
down €178,955 (-11.8%), from €1.5m to €1.3m
of which Trade receivables: -€176,872
- Trade debts -€214,555
down €214,555 (-14.2%), from €1.5m to €1.3m
- Reserves +€39,118
up €39,118 (+39.0%), from €100,175 to €139,293
of which Distributable reserves: +€39,118
- Gross operating margin -€14,755
down €14,755 (-22.3%), from €66,244 to €51,489
- Write-downs -€14,504
down €14,504, from €8,991 to -€5,513
- Taxes -€4,600
down €4,600 (-29.7%), from €15,490 to €10,889
- Other operating charges +€2,242
up €2,242 (+132%), from €1,698 to €3,941
- Depreciation +€1,225
up €1,225 (+25.7%), from €4,761 to €5,986
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 | €1,642,327 | €1,474,878 | -€167,450 | -10.2% |
| Fixed assets | 21/28 | €19,932 | €16,015 | -€3,918 | -19.7% |
| Tangible fixed assets | 22/27 | €19,932 | €16,015 | -€3,918 | -19.7% |
| Plant, machinery and equipment | 23 | €4,601 | €2,856 | -€1,744 | -37.9% |
| Furniture and vehicles | 24 | €8,310 | €5,397 | -€2,914 | -35.1% |
| Other tangible fixed assets | 26 | €7,021 | €7,762 | +€740 | +10.5% |
| Current assets | 29/58 | €1,622,395 | €1,458,863 | -€163,532 | -10.1% |
| Amounts receivable within one year | 40/41 | €1,517,315 | €1,338,360 | -€178,955 | -11.8% |
| Trade receivables | 40 | €1,439,953 | €1,263,080 | -€176,872 | -12.3% |
| Other amounts receivable | 41 | €77,362 | €75,279 | -€2,083 | -2.7% |
| Cash at bank and in hand | 54/58 | €105,080 | €120,503 | +€15,423 | +14.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,642,327 | €1,474,878 | -€167,450 | -10.2% |
| Equity | 10/15 | €118,767 | €157,885 | +€39,118 | +32.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €100,175 | €139,293 | +€39,118 | +39.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €98,316 | €137,434 | +€39,118 | +39.8% |
| Amounts payable | 17/49 | €1,523,560 | €1,316,993 | -€206,567 | -13.6% |
| Amounts payable within one year | 42/48 | €1,523,560 | €1,316,993 | -€206,567 | -13.6% |
| Current portion of amounts payable after more than one year | 42 | - | €13,524 | +€13,524 | |
| Trade debts | 44 | €1,509,778 | €1,295,224 | -€214,555 | -14.2% |
| Suppliers | 440/4 | €1,509,778 | €1,295,224 | -€214,555 | -14.2% |
| Taxes, remuneration and social security | 45 | €5,966 | €1,530 | -€4,436 | -74.4% |
| Taxes | 450/3 | €5,966 | €1,530 | -€4,436 | -74.4% |
| Other amounts payable | 47/48 | €7,815 | €6,714 | -€1,101 | -14.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,761 | €5,986 | +€1,225 | +25.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,991 | -€5,513 | -€14,504 | |
| Other operating charges | 640/8 | €1,698 | €3,941 | +€2,242 | +132% |
| Gross operating margin | 9900 | €66,244 | €51,489 | -€14,755 | -22.3% |
| Operating profit (loss) | 9901 | €50,794 | €47,076 | -€3,718 | -7.3% |
| Financial income | 75/76B | €2,223 | €3,317 | +€1,094 | +49.2% |
| Recurring financial income | 75 | €2,223 | €3,317 | +€1,094 | +49.2% |
| Financial charges | 65/66B | €21 | €386 | +€365 | +1,766% |
| Recurring financial charges | 65 | €21 | €386 | +€365 | +1,766% |
| Profit (loss) for the period before taxes | 9903 | €52,996 | €50,007 | -€2,989 | -5.6% |
| Income taxes | 67/77 | €15,490 | €10,889 | -€4,600 | -29.7% |
| Profit (loss) for the period | 9904 | €37,506 | €39,118 | +€1,612 | +4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,506 | €39,118 | +€1,612 | +4.3% |
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 18 October 2026 via checked.be.