Infrajoint: 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.
What changed
Infrajoint
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025not consecutivefiled annual accounts (NBB)
Net result for the year
€168,763
2024 · €810,193-€641,430
Equity
-€9,096
2024 · -€177,859+€168,763
Cash
€5,445
2024 · €58,022-€52,577
Balance sheet total
€9.4m
2024 · €10.9m-€1.5m
Largest movements
Assets
- Receivables within one year -€1.3m
down €1.3m (-96.6%), from €1.4m to €46,329
of which Trade receivables: -€1.3m
Equity and liabilities
- Advances received -€860,756
down €860,756 (-56.9%), from €1.5m to €651,744
- Debts after one year -€395,919
down €395,919 (-7.0%), from €5.6m to €5.2m
- Current portion of long-term debt -€282,738
down €282,738 (-52.8%), from €535,714 to €252,976
- Profit (loss) carried forward +€168,763
up €168,763 (+10.1%), from -€1.7m to -€1.5m
- Provisions -€167,000
no longer reported in 2025 (was €167,000)
Income statement
- Turnover -€1.1m
down €1.1m (-53.5%), from €2.0m to €914,989
- Financial charges -€132,977
down €132,977 (-29.5%), from €450,404 to €317,427
of which Non-recurring financial charges: -€167,000
- Taxes -€55,515
down €55,515 (-48.8%), from €113,729 to €58,214
- Services and other goods -€50,770
down €50,770 (-10.8%), from €470,026 to €419,256
- Staff costs +€24,849
up €24,849 (+26.6%), from €93,508 to €118,358
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
€810,193
Turnover
-€1.1m
Other operating income
+€1,449
Services and other goods
+€50,770
Staff costs
-€24,849
Write-downs
+€21,641
Other operating charges
+€6,791
Other operating items
+€167,000
Financial income
+€1
Financial charges
+€132,977
Taxes
+€55,515
Result 2025
€168,763
Cash bridge derived
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,880,673 | €9,397,951 | -€1.5m | -13.6% |
| Fixed assets | 21/28 | €9,265,736 | €9,262,176 | -€3,560 | 0.0% |
| Tangible fixed assets | 22/27 | €5,736 | €2,176 | -€3,560 | -62.1% |
| Furniture and vehicles | 24 | €5,736 | €2,176 | -€3,560 | -62.1% |
| Financial fixed assets | 28 | €9,260,000 | €9,260,000 | = | 0.0% |
| Affiliated companies | 280/1 | €9,260,000 | €9,260,000 | = | 0.0% |
| Participating interests | 280 | €9,260,000 | €9,260,000 | = | 0.0% |
| Current assets | 29/58 | €1,614,937 | €135,775 | -€1.5m | -91.6% |
| Amounts receivable after more than one year | 29 | €180,000 | €82,500 | -€97,500 | -54.2% |
| Other amounts receivable | 291 | €180,000 | €82,500 | -€97,500 | -54.2% |
| Amounts receivable within one year | 40/41 | €1,375,865 | €46,329 | -€1.3m | -96.6% |
| Trade receivables | 40 | €1,342,257 | €44,538 | -€1.3m | -96.7% |
| Other amounts receivable | 41 | €33,608 | €1,791 | -€31,818 | -94.7% |
| Cash at bank and in hand | 54/58 | €58,022 | €5,445 | -€52,577 | -90.6% |
| Deferred charges and accrued income | 490/1 | €1,050 | €1,501 | +€451 | +42.9% |
| Total equity and liabilities | 10/49 | €10,880,673 | €9,397,951 | -€1.5m | -13.6% |
| Equity | 10/15 | -€177,859 | -€9,096 | +€168,763 | +94.9% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Capital | 10 | €1,500,000 | €1,500,000 | = | 0.0% |
| Issued capital | 100 | €1,500,000 | €1,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,677,859 | -€1,509,096 | +€168,763 | +10.1% |
| Provisions and deferred taxes | 16 | €167,000 | - | -€167,000 | |
| Provisions for liabilities and charges | 160/5 | €167,000 | - | -€167,000 | |
| Environmental obligations | 163 | €167,000 | - | -€167,000 | |
| Amounts payable | 17/49 | €10,891,532 | €9,407,047 | -€1.5m | -13.6% |
| Amounts payable after more than one year | 17 | €5,619,653 | €5,223,734 | -€395,919 | -7.0% |
| Financial debts | 170/4 | €5,619,653 | €5,223,734 | -€395,919 | -7.0% |
| Subordinated loans | 170 | €3,833,938 | €3,958,853 | +€124,914 | +3.3% |
| Credit institutions | 173 | €1,785,715 | €1,264,881 | -€520,833 | -29.2% |
| Amounts payable within one year | 42/48 | €5,271,879 | €4,182,163 | -€1.1m | -20.7% |
| Current portion of amounts payable after more than one year | 42 | €535,714 | €252,976 | -€282,738 | -52.8% |
| Financial debts | 43 | €143,116 | €135,927 | -€7,190 | -5.0% |
| Credit institutions | 430/8 | €143,116 | €135,927 | -€7,190 | -5.0% |
| Trade debts | 44 | €270,616 | €307,023 | +€36,406 | +13.5% |
| Suppliers | 440/4 | €270,616 | €307,023 | +€36,406 | +13.5% |
| Advances received on contracts in progress | 46 | €1,512,500 | €651,744 | -€860,756 | -56.9% |
| Taxes, remuneration and social security | 45 | €8,233 | €32,795 | +€24,562 | +298.3% |
| Taxes | 450/3 | €948 | €23,892 | +€22,944 | +2420.3% |
| Remuneration and social security | 454/9 | €7,285 | €8,903 | +€1,617 | +22.2% |
| Other amounts payable | 47/48 | €2,801,699 | €2,801,699 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €1,150 | +€1,150 | |
| Operating income | 70/76A | €1,971,796 | €1,087,521 | -€884,276 | -44.8% |
| Turnover | 70 | €1,967,714 | €914,989 | -€1.1m | -53.5% |
| Other operating income | 74 | €4,083 | €5,532 | +€1,449 | +35.5% |
| Non-recurring operating income | 76A | - | €167,000 | +€167,000 | |
| Operating charges | 60/66A | €597,471 | €543,118 | -€54,353 | -9.1% |
| Services and other goods | 61 | €470,026 | €419,256 | -€50,770 | -10.8% |
| Remuneration, social security and pensions | 62 | €93,508 | €118,358 | +€24,849 | +26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,560 | €3,560 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,641 | - | -€21,641 | |
| Other operating charges | 640/8 | €8,736 | €1,945 | -€6,791 | -77.7% |
| Operating profit (loss) | 9901 | €1,374,326 | €544,403 | -€829,923 | -60.4% |
| Financial income | 75/76B | €1 | €2 | +€1 | +49.0% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +49.0% |
| Other financial income | 752/9 | €1 | €2 | +€1 | +49.0% |
| Financial charges | 65/66B | €450,404 | €317,427 | -€132,977 | -29.5% |
| Recurring financial charges | 65 | €283,404 | €317,427 | +€34,023 | +12.0% |
| Other financial charges | 652/9 | €283,404 | €317,427 | +€34,023 | +12.0% |
| Non-recurring financial charges | 66B | €167,000 | - | -€167,000 | |
| Profit (loss) for the period before taxes | 9903 | €923,923 | €226,977 | -€696,945 | -75.4% |
| Income taxes | 67/77 | €113,729 | €58,214 | -€55,515 | -48.8% |
| Taxes | 670/3 | €113,729 | €58,214 | -€55,515 | -48.8% |
| Profit (loss) for the period | 9904 | €810,193 | €168,763 | -€641,430 | -79.2% |
| Profit (loss) for the period to be appropriated | 9905 | €810,193 | €168,763 | -€641,430 | -79.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.