INFRALIGNE: 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.
INFRALIGNE
Largest movements
- Receivables within one year +€53,965
up €53,965 (+19.3%), from €279,609 to €333,574
of which Trade receivables: +€39,340
- Cash -€4,633
down €4,633 (-5.7%), from €81,514 to €76,881
mainly Receivables within one year (-€53,965) and Accrued charges and deferred income (-€5,395)
- Reserves +€33,985
up €33,985 (+66.4%), from €51,203 to €85,188
- Trade debts +€22,434
up €22,434 (+20.9%), from €107,141 to €129,576
- Accrued charges and deferred income -€5,395
down €5,395 (-10.7%), from €50,212 to €44,817
- Gross operating margin -€22,866
down €22,866 (-27.5%), from €83,171 to €60,305
- Taxes -€5,323
down €5,323 (-31.2%), from €17,071 to €11,748
- Staff costs -€3,877
down €3,877 (-24.1%), from €16,068 to €12,191
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 | €364,595 | €413,060 | +€48,465 | +13.3% |
| Fixed assets | 21/28 | €3,140 | €1,712 | -€1,428 | -45.5% |
| Tangible fixed assets | 22/27 | €3,140 | €1,712 | -€1,428 | -45.5% |
| Furniture and vehicles | 24 | €3,140 | €1,712 | -€1,428 | -45.5% |
| Current assets | 29/58 | €361,455 | €411,348 | +€49,893 | +13.8% |
| Amounts receivable within one year | 40/41 | €279,609 | €333,574 | +€53,965 | +19.3% |
| Trade receivables | 40 | €159,355 | €198,696 | +€39,340 | +24.7% |
| Other amounts receivable | 41 | €120,254 | €134,878 | +€14,624 | +12.2% |
| Cash at bank and in hand | 54/58 | €81,514 | €76,881 | -€4,633 | -5.7% |
| Deferred charges and accrued income | 490/1 | €333 | €893 | +€561 | +169% |
| Total equity and liabilities | 10/49 | €364,595 | €413,060 | +€48,465 | +13.3% |
| Equity | 10/15 | €126,203 | €160,188 | +€33,985 | +26.9% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €51,203 | €85,188 | +€33,985 | +66.4% |
| Distributable reserves | 133 | €51,203 | €85,188 | +€33,985 | +66.4% |
| Amounts payable | 17/49 | €238,392 | €252,872 | +€14,479 | +6.1% |
| Amounts payable within one year | 42/48 | €188,180 | €208,054 | +€19,874 | +10.6% |
| Trade debts | 44 | €107,141 | €129,576 | +€22,434 | +20.9% |
| Suppliers | 440/4 | €107,141 | €129,576 | +€22,434 | +20.9% |
| Taxes, remuneration and social security | 45 | €5,886 | €3,438 | -€2,448 | -41.6% |
| Taxes | 450/3 | €3,283 | €1,071 | -€2,211 | -67.4% |
| Remuneration and social security | 454/9 | €2,603 | €2,366 | -€237 | -9.1% |
| Other amounts payable | 47/48 | €75,154 | €75,041 | -€113 | -0.1% |
| Accrued charges and deferred income | 492/3 | €50,212 | €44,817 | -€5,395 | -10.7% |
| Remuneration, social security and pensions | 62 | €16,068 | €12,191 | -€3,877 | -24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,428 | €1,428 | = | 0.0% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €83,171 | €60,305 | -€22,866 | -27.5% |
| Operating profit (loss) | 9901 | €65,226 | €46,224 | -€19,002 | -29.1% |
| Financial income | 75/76B | €3 | €7 | +€3 | +97.4% |
| Recurring financial income | 75 | €3 | €7 | +€3 | +97.4% |
| Financial charges | 65/66B | €155 | €497 | +€342 | +220% |
| Recurring financial charges | 65 | €155 | €497 | +€342 | +220% |
| Profit (loss) for the period before taxes | 9903 | €65,074 | €45,734 | -€19,340 | -29.7% |
| Income taxes | 67/77 | €17,071 | €11,748 | -€5,323 | -31.2% |
| Profit (loss) for the period | 9904 | €48,002 | €33,985 | -€14,017 | -29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €48,002 | €33,985 | -€14,017 | -29.2% |
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.