IRISnet: what changed
What changed
IRISnet
NACE 42.220, Construction of utility projects for electricity and telecommunications
filed annual accounts (NBB)
Net result for the year
€1.3m
2024 · €875,883+€465,880
Equity
€25.0m
2024 · €23.6m+€1.3m
Cash
€7.8m
2024 · €5.5m+€2.3m
Balance sheet total
€46.0m
2024 · €50.4m-€4.4m
Largest movements
Assets
- Receivables within one year -€5.5m
down €5.5m (-29.9%), from €18.4m to €12.9m
of which Trade receivables: -€5.5m
- Cash +€2.3m
up €2.3m (+40.7%), from €5.5m to €7.8m
mainly Receivables within one year (+€5.5m) and Depreciation (+€3.8m)
- Tangible fixed assets -€1.1m
down €1.1m (-5.4%), from €21.1m to €19.9m
of which Plant, machinery and equipment: -€993,504
Equity and liabilities
- Trade debts -€2.9m
down €2.9m (-23.1%), from €12.5m to €9.6m
- Accrued charges and deferred income -€2.8m
down €2.8m (-22.1%), from €12.5m to €9.7m
- Profit (loss) carried forward +€1.3m
up €1.3m (+13.2%), from €10.2m to €11.5m
Income statement
- Goods and materials -€7.4m
down €7.4m (-27.4%), from €26.9m to €19.5m
of which Purchases: -€7.2m
- Turnover -€7.3m
down €7.3m (-16.1%), from €45.2m to €37.9m
- Services and other goods -€1.3m
down €1.3m (-14.1%), from €9.2m to €7.9m
- Staff costs +€818,754
up €818,754 (+17.7%), from €4.6m to €5.5m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€875,883
Turnover
-€7.3m
Other operating income
+€92,965
Goods and materials
+€7.4m
Services and other goods
+€1.3m
Staff costs
-€818,754
Depreciation
-€35,103
Write-downs
+€228,565
Provisions
-€76,500
Other operating charges
-€55,102
Other operating items
-€62,910
Financial income
-€9,647
Financial charges
-€25,262
Taxes
-€146,355
Result 2025
€1.3m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€4.9m
Investment
-€2.6m
Financing
€0
Cash 2024
€5.5m
From operations (derived)
+€4.9m
Net result for the year
+€1.3m
Depreciation
+€3.8m
Stocks and contracts
+€135,524
Receivables within one year
+€5.5m
Deferred charges and accrued income
-€151,900
Trade debts
-€2.9m
Tax, wage and social debts
-€37,599
Accrued charges and deferred income
-€2.8m
Investment (derived)
-€2.6m
Investment in fixed assets (net)
-€2.6m
Current investments
-€8,419
Cash 2025
€7.8m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €50,359,858 | €46,003,062 | -€4.4m | -8.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €22,084,145 | €20,957,089 | -€1.1m | -5.1% |
| Intangible fixed assets | 21 | €1,002,781 | €988,961 | -€13,820 | -1.4% |
| Tangible fixed assets | 22/27 | €21,080,389 | €19,936,150 | -€1.1m | -5.4% |
| Plant, machinery and equipment | 23 | €16,706,000 | €15,712,496 | -€993,504 | -5.9% |
| Furniture and vehicles | 24 | €3,234,731 | €3,023,120 | -€211,611 | -6.5% |
| Leasing and similar rights | 25 | €0 | €0 | -€0 | -100% |
| Other tangible fixed assets | 26 | €888,705 | €1,061,415 | +€172,710 | +19.4% |
| Assets under construction and advance payments | 27 | €250,953 | €139,119 | -€111,834 | -44.6% |
| Financial fixed assets | 28 | €975 | €31,978 | +€31,003 | +3,180% |
| Other financial fixed assets | 284/8 | €975 | €31,978 | +€31,003 | +3,180% |
| Amounts receivable and cash guarantees | 285/8 | €975 | €31,978 | +€31,003 | +3,180% |
| Current assets | 29/58 | €28,275,713 | €25,045,973 | -€3.2m | -11.4% |
| Stocks and contracts in progress | 3 | €283,582 | €148,058 | -€135,524 | -47.8% |
| Stocks | 30/36 | €283,582 | €148,058 | -€135,524 | -47.8% |
| Goods purchased for resale | 34 | €283,582 | €148,058 | -€135,524 | -47.8% |
| Amounts receivable within one year | 40/41 | €18,421,228 | €12,908,661 | -€5.5m | -29.9% |
| Trade receivables | 40 | €18,420,326 | €12,904,308 | -€5.5m | -29.9% |
| Other amounts receivable | 41 | €902 | €4,352 | +€3,450 | +383% |
| Current investments | 50/53 | €800,446 | €808,865 | +€8,419 | +1.1% |
| Other investments | 51/53 | €800,446 | €808,865 | +€8,419 | +1.1% |
| Cash at bank and in hand | 54/58 | €5,548,300 | €7,806,332 | +€2.3m | +40.7% |
| Deferred charges and accrued income | 490/1 | €3,222,156 | €3,374,057 | +€151,900 | +4.7% |
| Total equity and liabilities | 10/49 | €50,359,858 | €46,003,062 | -€4.4m | -8.7% |
| Equity | 10/15 | €23,629,154 | €24,970,916 | +€1.3m | +5.7% |
| Contributions | 10/11 | €12,251,060 | €12,251,060 | = | 0.0% |
| Reserves | 13 | €1,225,110 | €1,225,110 | = | 0.0% |
| Distributable reserves | 133 | €1,225,110 | €1,225,110 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,152,984 | €11,494,746 | +€1.3m | +13.2% |
| Provisions and deferred taxes | 16 | €25,000 | €25,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €25,000 | €25,000 | = | 0.0% |
| Environmental obligations | 163 | €25,000 | - | -€25,000 | |
| Other liabilities and charges | 164/5 | - | €25,000 | +€25,000 | |
| Amounts payable | 17/49 | €26,705,704 | €21,007,146 | -€5.7m | -21.3% |
| Amounts payable within one year | 42/48 | €14,206,903 | €11,270,933 | -€2.9m | -20.7% |
| Trade debts | 44 | €12,531,988 | €9,633,618 | -€2.9m | -23.1% |
| Suppliers | 440/4 | €12,531,988 | €9,633,618 | -€2.9m | -23.1% |
| Taxes, remuneration and social security | 45 | €1,674,915 | €1,637,315 | -€37,599 | -2.2% |
| Taxes | 450/3 | €904,439 | €670,155 | -€234,284 | -25.9% |
| Remuneration and social security | 454/9 | €770,475 | €967,160 | +€196,685 | +25.5% |
| Accrued charges and deferred income | 492/3 | €12,498,801 | €9,736,213 | -€2.8m | -22.1% |
| Operating income | 70/76A | €45,746,153 | €38,489,887 | -€7.3m | -15.9% |
| Turnover | 70 | €45,230,226 | €37,943,905 | -€7.3m | -16.1% |
| Own construction capitalised | 72 | €376,975 | €314,065 | -€62,910 | -16.7% |
| Other operating income | 74 | €138,952 | €231,918 | +€92,965 | +66.9% |
| Operating charges | 60/66A | €44,465,685 | €36,562,276 | -€7.9m | -17.8% |
| Goods for resale, raw materials and consumables | 60 | €26,899,615 | €19,529,276 | -€7.4m | -27.4% |
| Purchases | 600/8 | €26,506,058 | €19,303,521 | -€7.2m | -27.2% |
| Change in stocks: decrease (increase) | 609 | €393,557 | €225,755 | -€167,801 | -42.6% |
| Services and other goods | 61 | €9,150,235 | €7,860,269 | -€1.3m | -14.1% |
| Remuneration, social security and pensions | 62 | €4,631,364 | €5,450,118 | +€818,754 | +17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,715,800 | €3,750,903 | +€35,103 | +0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €138,333 | -€90,231 | -€228,565 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€76,500 | - | +€76,500 | |
| Other operating charges | 640/8 | €6,838 | €61,940 | +€55,102 | +806% |
| Operating profit (loss) | 9901 | €1,280,468 | €1,927,611 | +€647,144 | +50.5% |
| Financial income | 75/76B | €19,875 | €10,229 | -€9,647 | -48.5% |
| Recurring financial income | 75 | €19,875 | €10,229 | -€9,647 | -48.5% |
| Income from financial fixed assets | 750 | €614 | €355 | -€259 | -42.2% |
| Income from current assets | 751 | €19,260 | €9,561 | -€9,699 | -50.4% |
| Other financial income | 752/9 | €2 | €313 | +€311 | +20,347% |
| Financial charges | 65/66B | €30,291 | €55,553 | +€25,262 | +83.4% |
| Recurring financial charges | 65 | €30,291 | €55,553 | +€25,262 | +83.4% |
| Debt charges | 650 | €17,220 | €38,848 | +€21,627 | +126% |
| Other financial charges | 652/9 | €13,070 | €16,705 | +€3,635 | +27.8% |
| Profit (loss) for the period before taxes | 9903 | €1,270,052 | €1,882,287 | +€612,235 | +48.2% |
| Income taxes | 67/77 | €394,170 | €540,525 | +€146,355 | +37.1% |
| Taxes | 670/3 | €394,170 | €540,525 | +€146,355 | +37.1% |
| Profit (loss) for the period | 9904 | €875,883 | €1,341,763 | +€465,880 | +53.2% |
| Profit (loss) for the period to be appropriated | 9905 | €875,883 | €1,341,763 | +€465,880 | +53.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.