INFRAVIA: 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.
INFRAVIA
Largest movements
- Cash +€94,943
up €94,943 (+1,071%), from €8,867 to €103,810
mainly Short-term financial debts (+€60,000) and Receivables within one year (+€59,542)
- Receivables within one year -€59,542
down €59,542 (-16.1%), from €369,097 to €309,555
of which Trade receivables: -€197,647
- Tangible fixed assets -€15,411
down €15,411 (-9.4%), from €164,408 to €148,997
of which Plant, machinery and equipment: -€23,045
- Trade debts -€84,158
down €84,158 (-70.1%), from €119,995 to €35,838
- Short-term financial debts +€60,000
new in 2025: €60,000
- Reserves +€22,252
up €22,252 (+12.6%), from €176,824 to €199,075
of which Distributable reserves: +€22,252
- Debts after one year -€22,143
down €22,143 (-21.8%), from €101,498 to €79,354
- Accrued charges and deferred income +€20,644
up €20,644 (+236%), from €8,750 to €29,394
- Gross operating margin -€74,918
down €74,918 (-19.8%), from €378,100 to €303,181
- Taxes -€68,143
down €68,143 (-97.3%), from €70,037 to €1,894
- Staff costs +€47,202
up €47,202 (+28.1%), from €167,967 to €215,170
- Depreciation +€22,124
up €22,124 (+73.5%), from €30,099 to €52,223
- Purchases and services -€7,967
down €7,967 (-1.4%), from €572,522 to €564,555
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 | €572,428 | €593,245 | +€20,817 | +3.6% |
| Fixed assets | 21/28 | €193,494 | €178,082 | -€15,411 | -8.0% |
| Tangible fixed assets | 22/27 | €164,408 | €148,997 | -€15,411 | -9.4% |
| Plant, machinery and equipment | 23 | €107,719 | €84,674 | -€23,045 | -21.4% |
| Furniture and vehicles | 24 | €56,689 | €64,322 | +€7,634 | +13.5% |
| Financial fixed assets | 28 | €29,086 | €29,086 | = | 0.0% |
| Current assets | 29/58 | €378,934 | €415,162 | +€36,228 | +9.6% |
| Amounts receivable within one year | 40/41 | €369,097 | €309,555 | -€59,542 | -16.1% |
| Trade receivables | 40 | €330,940 | €133,294 | -€197,647 | -59.7% |
| Other amounts receivable | 41 | €38,157 | €176,262 | +€138,104 | +362% |
| Cash at bank and in hand | 54/58 | €8,867 | €103,810 | +€94,943 | +1,071% |
| Deferred charges and accrued income | 490/1 | €970 | €1,798 | +€828 | +85.3% |
| Total equity and liabilities | 10/49 | €572,428 | €593,245 | +€20,817 | +3.6% |
| Equity | 10/15 | €195,424 | €217,675 | +€22,252 | +11.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €176,824 | €199,075 | +€22,252 | +12.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €174,964 | €197,215 | +€22,252 | +12.7% |
| Amounts payable | 17/49 | €377,004 | €375,569 | -€1,435 | -0.4% |
| Amounts payable after more than one year | 17 | €101,498 | €79,354 | -€22,143 | -21.8% |
| Financial debts | 170/4 | €101,498 | €79,354 | -€22,143 | -21.8% |
| Amounts payable within one year | 42/48 | €266,757 | €266,821 | +€65 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €54,721 | €61,851 | +€7,130 | +13.0% |
| Financial debts | 43 | - | €60,000 | +€60,000 | |
| Credit institutions | 430/8 | - | €60,000 | +€60,000 | |
| Trade debts | 44 | €119,995 | €35,838 | -€84,158 | -70.1% |
| Suppliers | 440/4 | €119,995 | €35,838 | -€84,158 | -70.1% |
| Taxes, remuneration and social security | 45 | €91,014 | €108,106 | +€17,092 | +18.8% |
| Taxes | 450/3 | €74,045 | €95,009 | +€20,963 | +28.3% |
| Remuneration and social security | 454/9 | €16,968 | €13,097 | -€3,871 | -22.8% |
| Other amounts payable | 47/48 | €1,027 | €1,027 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €8,750 | €29,394 | +€20,644 | +236% |
| Goods, raw materials, services and sundry goods | 60/61 | €572,522 | €564,555 | -€7,967 | -1.4% |
| Remuneration, social security and pensions | 62 | €167,967 | €215,170 | +€47,202 | +28.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,099 | €52,223 | +€22,124 | +73.5% |
| Other operating charges | 640/8 | €3,317 | €1,632 | -€1,685 | -50.8% |
| Non-recurring operating charges | 66A | - | €1,106 | +€1,106 | |
| Gross operating margin | 9900 | €378,100 | €303,181 | -€74,918 | -19.8% |
| Operating profit (loss) | 9901 | €176,716 | €33,050 | -€143,665 | -81.3% |
| Financial income | 75/76B | €523 | €0 | -€523 | -100.0% |
| Recurring financial income | 75 | €523 | €0 | -€523 | -100.0% |
| Financial charges | 65/66B | €7,915 | €8,906 | +€991 | +12.5% |
| Recurring financial charges | 65 | €7,915 | €8,906 | +€991 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €169,324 | €24,145 | -€145,179 | -85.7% |
| Income taxes | 67/77 | €70,037 | €1,894 | -€68,143 | -97.3% |
| Profit (loss) for the period | 9904 | €99,288 | €22,252 | -€77,036 | -77.6% |
| Profit (loss) for the period to be appropriated | 9905 | €99,288 | €22,252 | -€77,036 | -77.6% |
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 19 October 2026 via checked.be.