Infravest: 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.
Infravest
Largest movements
- Financial fixed assets +€130.6m
up €130.6m (+152.8%), from €85.4m to €216.0m
- Contributions +€67.8m
up €67.8m (+148.2%), from €45.7m to €113.5m
- Debts after one year +€60.1m
up €60.1m (+210.8%), from €28.5m to €88.6m
- Profit (loss) carried forward +€3.7m
up €3.7m (+51.9%), from -€7.2m to -€3.4m
- Financial income +€6.2m
up €6.2m (+116123493.5%), from €5 to €6.2m
of which Non-recurring financial income: +€4.2m
- Financial charges -€4.5m
down €4.5m (-65.9%), from €6.8m to €2.3m
of which Non-recurring financial charges: -€5.8m
- Gross operating margin +€154,500
up €154,500 (+40.5%), from -€381,489 to -€226,989
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 | €85,459,560 | €216,074,625 | +€130.6m | +152.8% |
| Fixed assets | 21/28 | €85,444,716 | €215,995,304 | +€130.6m | +152.8% |
| Financial fixed assets | 28 | €85,444,716 | €215,995,304 | +€130.6m | +152.8% |
| Current assets | 29/58 | €14,844 | €79,320 | +€64,477 | +434.4% |
| Amounts receivable within one year | 40/41 | - | €4,871 | +€4,871 | |
| Other amounts receivable | 41 | - | €4,871 | +€4,871 | |
| Current investments | 50/53 | - | €39 | +€39 | |
| Cash at bank and in hand | 54/58 | €14,844 | €74,410 | +€59,567 | +401.3% |
| Total equity and liabilities | 10/49 | €85,459,560 | €216,074,625 | +€130.6m | +152.8% |
| Equity | 10/15 | €38,584,129 | €110,073,385 | +€71.5m | +185.3% |
| Contributions | 10/11 | €45,736,397 | €113,516,296 | +€67.8m | +148.2% |
| Profit (loss) carried forward | 14 | -€7,152,267 | -€3,442,911 | +€3.7m | +51.9% |
| Amounts payable | 17/49 | €46,875,430 | €106,001,240 | +€59.1m | +126.1% |
| Amounts payable after more than one year | 17 | €28,500,000 | €88,582,580 | +€60.1m | +210.8% |
| Financial debts | 170/4 | €28,500,000 | €88,582,580 | +€60.1m | +210.8% |
| Amounts payable within one year | 42/48 | €17,844,395 | €16,906,050 | -€938,345 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €2,500,000 | €2,500,000 | = | 0.0% |
| Financial debts | 43 | €15,000,000 | €14,400,000 | -€600,000 | -4.0% |
| Credit institutions | 430/8 | €15,000,000 | €14,400,000 | -€600,000 | -4.0% |
| Trade debts | 44 | €18,220 | €6,050 | -€12,170 | -66.8% |
| Suppliers | 440/4 | €18,220 | €6,050 | -€12,170 | -66.8% |
| Other amounts payable | 47/48 | €326,175 | - | -€326,175 | |
| Accrued charges and deferred income | 492/3 | €531,036 | €512,610 | -€18,426 | -3.5% |
| Other operating charges | 640/8 | €387 | €520 | +€132 | +34.2% |
| Gross operating margin | 9900 | -€381,489 | -€226,989 | +€154,500 | +40.5% |
| Operating profit (loss) | 9901 | -€381,877 | -€227,509 | +€154,368 | +40.4% |
| Financial income | 75/76B | €5 | €6,247,449 | +€6.2m | +116123493.5% |
| Recurring financial income | 75 | €5 | €2,021,985 | +€2.0m | +37583270.1% |
| Non-recurring financial income | 76B | - | €4,225,464 | +€4.2m | |
| Financial charges | 65/66B | €6,770,395 | €2,310,584 | -€4.5m | -65.9% |
| Recurring financial charges | 65 | €955,192 | €2,310,584 | +€1.4m | +141.9% |
| Non-recurring financial charges | 66B | €5,815,203 | - | -€5.8m | |
| Profit (loss) for the period before taxes | 9903 | -€7,152,266 | €3,709,356 | +€10.9m | |
| Income taxes | 67/77 | €2 | €0 | -€2 | -100.0% |
| Profit (loss) for the period | 9904 | -€7,152,267 | €3,709,356 | +€10.9m | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,152,267 | €3,709,356 | +€10.9m |
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 4 October 2026 via checked.be.