INFRANEST: 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.
INFRANEST
Largest movements
- Cash +€23,338
up €23,338 (+58.2%), from €40,115 to €63,453
mainly Net result for the year (+€23,168) and Tax, wage and social debts (+€3,130)
- Receivables within one year +€7,132
up €7,132 (+52.1%), from €13,690 to €20,822
of which Trade receivables: +€3,679
- Tangible fixed assets -€4,621
down €4,621 (-73.1%), from €6,325 to €1,703
of which Furniture and vehicles: -€5,026
- Reserves +€23,168
up €23,168 (+43.9%), from €52,723 to €75,891
- Tax, wage and social debts +€3,130
up €3,130 (+77.9%), from €4,019 to €7,149
- Gross operating margin +€18,846
up €18,846 (+113.5%), from €16,599 to €35,446
- Taxes +€4,152
up €4,152 (+123.6%), from €3,360 to €7,512
- Depreciation -€1,414
down €1,414 (-37.8%), from €3,735 to €2,322
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 | €62,304 | €88,228 | +€25,923 | +41.6% |
| Fixed assets | 21/28 | €6,325 | €1,703 | -€4,621 | -73.1% |
| Tangible fixed assets | 22/27 | €6,325 | €1,703 | -€4,621 | -73.1% |
| Plant, machinery and equipment | 23 | €0 | €404 | +€404 | |
| Furniture and vehicles | 24 | €6,325 | €1,299 | -€5,026 | -79.5% |
| Current assets | 29/58 | €55,980 | €86,524 | +€30,545 | +54.6% |
| Amounts receivable within one year | 40/41 | €13,690 | €20,822 | +€7,132 | +52.1% |
| Trade receivables | 40 | €7,879 | €11,559 | +€3,679 | +46.7% |
| Other amounts receivable | 41 | €5,811 | €9,263 | +€3,453 | +59.4% |
| Cash at bank and in hand | 54/58 | €40,115 | €63,453 | +€23,338 | +58.2% |
| Deferred charges and accrued income | 490/1 | €2,175 | €2,249 | +€75 | +3.4% |
| Total equity and liabilities | 10/49 | €62,304 | €88,228 | +€25,923 | +41.6% |
| Equity | 10/15 | €57,723 | €80,891 | +€23,168 | +40.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €52,723 | €75,891 | +€23,168 | +43.9% |
| Distributable reserves | 133 | €52,723 | €75,891 | +€23,168 | +43.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,581 | €7,336 | +€2,755 | +60.1% |
| Amounts payable within one year | 42/48 | €4,568 | €7,336 | +€2,768 | +60.6% |
| Trade debts | 44 | €549 | €187 | -€362 | -65.9% |
| Suppliers | 440/4 | €549 | €187 | -€362 | -65.9% |
| Taxes, remuneration and social security | 45 | €4,019 | €7,149 | +€3,130 | +77.9% |
| Taxes | 450/3 | €4,019 | €7,149 | +€3,130 | +77.9% |
| Accrued charges and deferred income | 492/3 | €13 | €0 | -€13 | -100.0% |
| Non-recurring operating income | 76A | - | €852 | +€852 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,735 | €2,322 | -€1,414 | -37.8% |
| Other operating charges | 640/8 | €1,090 | €1,137 | +€47 | +4.3% |
| Non-recurring operating charges | 66A | €509 | €432 | -€77 | -15.1% |
| Gross operating margin | 9900 | €16,599 | €35,446 | +€18,846 | +113.5% |
| Operating profit (loss) | 9901 | €11,265 | €31,555 | +€20,289 | +180.1% |
| Financial income | 75/76B | €16 | €4 | -€13 | -78.5% |
| Recurring financial income | 75 | €16 | €4 | -€13 | -78.5% |
| Financial charges | 65/66B | €1,185 | €878 | -€307 | -25.9% |
| Recurring financial charges | 65 | €1,185 | €878 | -€307 | -25.9% |
| Profit (loss) for the period before taxes | 9903 | €10,097 | €30,680 | +€20,583 | +203.9% |
| Income taxes | 67/77 | €3,360 | €7,512 | +€4,152 | +123.6% |
| Profit (loss) for the period | 9904 | €6,737 | €23,168 | +€16,431 | +243.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,737 | €23,168 | +€16,431 | +243.9% |
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 8 October 2026 via checked.be.