INFRAPOLDERS: 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.
INFRAPOLDERS
Largest movements
- Receivables after one year -€1.0m
down €1.0m (-100.0%), from €1.0m to €0
- Receivables within one year -€38,546
down €38,546 (-40.6%), from €95,050 to €56,504
of which Other amounts receivable: -€73,546
- Cash -€37,955
down €37,955 (-83.9%), from €45,258 to €7,302
mainly Contributions, distributions and other (-€1.2m) and Other debts (-€33,883)
- Profit (loss) carried forward -€1.2m
down €1.2m (-82.7%), from €1.5m to €251,942
- Debts after one year +€116,000
new in 2025: €116,000
- Other debts -€33,883
down €33,883 (-85.3%), from €39,705 to €5,822
- Gross operating margin +€25,869
up €25,869, from -€10,588 to €15,282
- Staff costs +€20,049
new in 2025: €20,049
- Other operating charges -€377
down €377 (-24.1%), from €1,564 to €1,187
- Financial charges -€316
down €316 (-84.4%), from €375 to €59
of which Financial charges: -€316
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 | €2,461,339 | €1,361,371 | -€1.1m | -44.7% |
| Fixed assets | 21/28 | €1,273,564 | €1,297,564 | +€24,000 | +1.9% |
| Financial fixed assets | 28 | €1,273,564 | €1,297,564 | +€24,000 | +1.9% |
| Current assets | 29/58 | €1,187,775 | €63,806 | -€1.1m | -94.6% |
| Amounts receivable after more than one year | 29 | €1,047,467 | €0 | -€1.0m | -100.0% |
| Other amounts receivable | 291 | €1,047,467 | €0 | -€1.0m | -100.0% |
| Amounts receivable within one year | 40/41 | €95,050 | €56,504 | -€38,546 | -40.6% |
| Trade receivables | 40 | - | €35,000 | +€35,000 | |
| Other amounts receivable | 41 | €95,050 | €21,504 | -€73,546 | -77.4% |
| Cash at bank and in hand | 54/58 | €45,258 | €7,302 | -€37,955 | -83.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,461,339 | €1,361,371 | -€1.1m | -44.7% |
| Equity | 10/15 | €2,337,955 | €1,131,942 | -€1.2m | -51.6% |
| Contributions | 10/11 | €800,000 | €800,000 | = | 0.0% |
| Reserves | 13 | €80,000 | €80,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €80,000 | €0 | -€80,000 | -100.0% |
| Reserves not available under the articles | 1311 | €80,000 | €0 | -€80,000 | -100.0% |
| Distributable reserves | 133 | - | €80,000 | +€80,000 | |
| Profit (loss) carried forward | 14 | €1,457,955 | €251,942 | -€1.2m | -82.7% |
| Amounts payable | 17/49 | €123,384 | €229,429 | +€106,044 | +85.9% |
| Amounts payable after more than one year | 17 | - | €116,000 | +€116,000 | |
| Financial debts | 170/4 | - | €116,000 | +€116,000 | |
| Amounts payable within one year | 42/48 | €52,734 | €35,579 | -€17,156 | -32.5% |
| Financial debts | 43 | €243 | €243 | = | 0.0% |
| Credit institutions | 430/8 | €243 | €243 | = | 0.0% |
| Trade debts | 44 | €12,787 | €17,028 | +€4,241 | +33.2% |
| Suppliers | 440/4 | €12,787 | €17,028 | +€4,241 | +33.2% |
| Taxes, remuneration and social security | 45 | - | €12,486 | +€12,486 | |
| Taxes | 450/3 | - | €4,761 | +€4,761 | |
| Remuneration and social security | 454/9 | - | €7,725 | +€7,725 | |
| Other amounts payable | 47/48 | €39,705 | €5,822 | -€33,883 | -85.3% |
| Accrued charges and deferred income | 492/3 | €70,650 | €77,850 | +€7,200 | +10.2% |
| Remuneration, social security and pensions | 62 | - | €20,049 | +€20,049 | |
| Other operating charges | 640/8 | €1,564 | €1,187 | -€377 | -24.1% |
| Gross operating margin | 9900 | -€10,588 | €15,282 | +€25,869 | |
| Operating profit (loss) | 9901 | -€12,152 | -€5,955 | +€6,197 | +51.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €375 | €59 | -€316 | -84.4% |
| Recurring financial charges | 65 | €375 | €59 | -€316 | -84.4% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€12,526 | -€6,013 | +€6,513 | +52.0% |
| Profit (loss) for the period | 9904 | -€12,526 | -€6,013 | +€6,513 | +52.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,526 | -€6,013 | +€6,513 | +52.0% |
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 12 October 2026 via checked.be.