INFRATECH: 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.
What changed
INFRATECH
NACE 35.220, Electricity, gas, steam and air conditioning supply
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€387,373
2024 · €512,581-€125,208
Equity
€5.6m
2024 · €5.2m+€387,309
Cash
€1.0m
2024 · €878,511+€146,112
Balance sheet total
€7.5m
2024 · €6.6m+€966,603
Largest movements
Assets
- Stocks and contracts +€302,405
up €302,405 (+20.2%), from €1.5m to €1.8m
- Financial fixed assets +€301,570
up €301,570 (+37.3%), from €809,245 to €1.1m
- Receivables within one year +€244,780
up €244,780 (+8.0%), from €3.1m to €3.3m
of which Other amounts receivable: +€502,113
- Cash +€146,112
up €146,112 (+16.6%), from €878,511 to €1.0m
mainly Net result for the year (+€387,373) and Trade debts (+€276,848)
Equity and liabilities
- Reserves +€387,309
up €387,309 (+7.6%), from €5.1m to €5.5m
of which Distributable reserves: +€387,309
- Trade debts +€276,848
up €276,848 (+29.3%), from €946,188 to €1.2m
- Tax, wage and social debts +€236,588
up €236,588 (+57.9%), from €408,913 to €645,501
of which Taxes: +€198,772
Income statement
- Goods and materials +€1.2m
up €1.2m (+16.7%), from €7.1m to €8.2m
of which Purchases: +€1.4m
- Services and other goods +€439,162
up €439,162 (+50.2%), from €874,394 to €1.3m
- Turnover +€344,326
up €344,326 (+3.0%), from €11.5m to €11.9m
- Write-downs -€336,636
down €336,636 (-76.7%), from €439,102 to €102,465
- Staff costs -€150,348
down €150,348 (-7.5%), from €2.0m to €1.9m
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
€512,581
Turnover
+€344,326
Other operating income
-€29,017
Goods and materials
-€1.2m
Services and other goods
-€439,162
Staff costs
+€150,348
Depreciation
+€104,544
Write-downs
+€336,636
Other operating charges
+€3,989
Other operating items
+€478,028
Financial income
+€36,963
Financial charges
-€947
Taxes
+€66,851
Result 2025
€387,373
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€451,470
Investment
-€305,295
Financing
-€64
Cash 2024
€878,511
From operations (derived)
+€451,470
Net result for the year
+€387,373
Depreciation
+€31,550
Stocks and contracts
-€302,405
Receivables within one year
-€244,780
Deferred charges and accrued income
+€438
Trade debts
+€276,848
Tax, wage and social debts
+€236,588
Advances received
+€51,059
Accrued charges and deferred income
+€14,799
Investment (derived)
-€305,295
Investment in fixed assets (net)
-€305,295
Financing
-€64
Contributions, distributions and other
-€64
Cash 2025
€1.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,568,992 | €7,535,595 | +€966,603 | +14.7% |
| Fixed assets | 21/28 | €1,119,167 | €1,392,912 | +€273,745 | +24.5% |
| Tangible fixed assets | 22/27 | €309,922 | €282,097 | -€27,825 | -9.0% |
| Land and buildings | 22 | €186,855 | €177,378 | -€9,478 | -5.1% |
| Plant, machinery and equipment | 23 | €1,373 | €18 | -€1,355 | -98.7% |
| Furniture and vehicles | 24 | €67,583 | €50,591 | -€16,992 | -25.1% |
| Assets under construction and advance payments | 27 | €54,110 | €54,110 | = | 0.0% |
| Financial fixed assets | 28 | €809,245 | €1,110,815 | +€301,570 | +37.3% |
| Other financial fixed assets | 284/8 | €809,245 | €1,110,815 | +€301,570 | +37.3% |
| Amounts receivable and cash guarantees | 285/8 | €809,245 | €1,110,815 | +€301,570 | +37.3% |
| Current assets | 29/58 | €5,449,825 | €6,142,683 | +€692,858 | +12.7% |
| Stocks and contracts in progress | 3 | €1,495,199 | €1,797,604 | +€302,405 | +20.2% |
| Stocks | 30/36 | €1,495,199 | €1,797,604 | +€302,405 | +20.2% |
| Raw materials and consumables | 30/31 | - | €169,583 | +€169,583 | |
| Work in progress | 32 | €152,770 | €233,823 | +€81,053 | +53.1% |
| Finished goods | 33 | - | €32,432 | +€32,432 | |
| Goods purchased for resale | 34 | €1,342,429 | €1,361,766 | +€19,337 | +1.4% |
| Amounts receivable within one year | 40/41 | €3,075,270 | €3,320,050 | +€244,780 | +8.0% |
| Trade receivables | 40 | €2,423,191 | €2,165,857 | -€257,334 | -10.6% |
| Other amounts receivable | 41 | €652,079 | €1,154,193 | +€502,113 | +77.0% |
| Cash at bank and in hand | 54/58 | €878,511 | €1,024,622 | +€146,112 | +16.6% |
| Deferred charges and accrued income | 490/1 | €845 | €407 | -€438 | -51.9% |
| Total equity and liabilities | 10/49 | €6,568,992 | €7,535,595 | +€966,603 | +14.7% |
| Equity | 10/15 | €5,196,296 | €5,583,604 | +€387,309 | +7.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €5,117,748 | €5,505,057 | +€387,309 | +7.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €5,092,798 | €5,480,107 | +€387,309 | +7.6% |
| Investment grants | 15 | €16,548 | €16,548 | = | 0.0% |
| Amounts payable | 17/49 | €1,372,696 | €1,951,991 | +€579,295 | +42.2% |
| Amounts payable within one year | 42/48 | €1,372,486 | €1,936,981 | +€564,495 | +41.1% |
| Trade debts | 44 | €946,188 | €1,223,036 | +€276,848 | +29.3% |
| Suppliers | 440/4 | €946,188 | €1,223,036 | +€276,848 | +29.3% |
| Advances received on contracts in progress | 46 | €17,385 | €68,444 | +€51,059 | +294% |
| Taxes, remuneration and social security | 45 | €408,913 | €645,501 | +€236,588 | +57.9% |
| Taxes | 450/3 | €201,213 | €399,984 | +€198,772 | +98.8% |
| Remuneration and social security | 454/9 | €207,701 | €245,517 | +€37,816 | +18.2% |
| Accrued charges and deferred income | 492/3 | €210 | €15,009 | +€14,799 | +7,047% |
| Operating income | 70/76A | €11,276,269 | €12,057,907 | +€781,638 | +6.9% |
| Turnover | 70 | €11,537,277 | €11,881,603 | +€344,326 | +3.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€356,584 | €113,485 | +€470,069 | |
| Other operating income | 74 | €91,836 | €62,819 | -€29,017 | -31.6% |
| Non-recurring operating income | 76A | €3,740 | - | -€3,740 | |
| Operating charges | 60/66A | €10,554,155 | €11,563,868 | +€1.0m | +9.6% |
| Goods for resale, raw materials and consumables | 60 | €7,065,943 | €8,243,711 | +€1.2m | +16.7% |
| Purchases | 600/8 | €7,000,768 | €8,432,631 | +€1.4m | +20.5% |
| Change in stocks: decrease (increase) | 609 | €65,175 | -€188,920 | -€254,095 | |
| Services and other goods | 61 | €874,394 | €1,313,556 | +€439,162 | +50.2% |
| Remuneration, social security and pensions | 62 | €2,003,522 | €1,853,174 | -€150,348 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136,094 | €31,550 | -€104,544 | -76.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €439,102 | €102,465 | -€336,636 | -76.7% |
| Other operating charges | 640/8 | €23,401 | €19,411 | -€3,989 | -17.0% |
| Non-recurring operating charges | 66A | €11,700 | €1 | -€11,699 | -100.0% |
| Operating profit (loss) | 9901 | €722,114 | €494,039 | -€228,076 | -31.6% |
| Financial income | 75/76B | €24,830 | €61,793 | +€36,963 | +149% |
| Recurring financial income | 75 | €24,830 | €61,793 | +€36,963 | +149% |
| Income from financial fixed assets | 750 | €14,602 | €33,988 | +€19,386 | +133% |
| Other financial income | 752/9 | €10,227 | €27,804 | +€17,577 | +172% |
| Financial charges | 65/66B | €18,136 | €19,083 | +€947 | +5.2% |
| Recurring financial charges | 65 | €15,619 | €19,083 | +€3,464 | +22.2% |
| Debt charges | 650 | €2,395 | - | -€2,395 | |
| Other financial charges | 652/9 | €13,224 | €19,083 | +€5,859 | +44.3% |
| Non-recurring financial charges | 66B | €2,517 | - | -€2,517 | |
| Profit (loss) for the period before taxes | 9903 | €728,808 | €536,748 | -€192,059 | -26.4% |
| Income taxes | 67/77 | €216,227 | €149,376 | -€66,851 | -30.9% |
| Taxes | 670/3 | €221,621 | €149,376 | -€72,245 | -32.6% |
| Tax adjustments and reversals of tax provisions | 77 | €5,394 | - | -€5,394 | |
| Profit (loss) for the period | 9904 | €512,581 | €387,373 | -€125,208 | -24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €512,581 | €387,373 | -€125,208 | -24.4% |
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 15 October 2026 via checked.be.