SARINFRA: 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.
SARINFRA
Largest movements
- Receivables within one year -€3.1m
down €3.1m (-78.0%), from €3.9m to €865,913
of which Trade receivables: -€3.0m
- Financial fixed assets -€149,800
no longer reported in 2025 (was €149,800)
- Tangible fixed assets +€123,484
up €123,484 (+8.0%), from €1.5m to €1.7m
of which Land and buildings: +€124,663
- Cash -€99,760
down €99,760 (-72.3%), from €137,894 to €38,133
mainly Trade debts (-€3.5m) and Investment in fixed assets (net) (-€134,354)
- Trade debts -€3.5m
down €3.5m (-79.3%), from €4.4m to €917,687
- Profit (loss) carried forward +€323,974
up €323,974 (+92.4%), from €350,634 to €674,609
- Gross operating margin +€339,367
up €339,367 (+77.5%), from €437,629 to €776,996
- Staff costs -€104,096
down €104,096 (-57.9%), from €179,705 to €75,609
- Taxes +€95,122
up €95,122 (+380%), from €25,034 to €120,156
- Financial charges +€58,585
up €58,585 (+302%), from €19,423 to €78,008
of which Financial charges: +€56,710
- Depreciation -€30,390
down €30,390 (-15.9%), from €191,060 to €160,670
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 | €5,770,305 | €2,570,561 | -€3.2m | -55.5% |
| Fixed assets | 21/28 | €1,692,644 | €1,666,329 | -€26,316 | -1.6% |
| Tangible fixed assets | 22/27 | €1,542,845 | €1,666,329 | +€123,484 | +8.0% |
| Land and buildings | 22 | €1,324,677 | €1,449,339 | +€124,663 | +9.4% |
| Plant, machinery and equipment | 23 | €64,812 | €26,909 | -€37,903 | -58.5% |
| Furniture and vehicles | 24 | €153,356 | €190,080 | +€36,725 | +23.9% |
| Financial fixed assets | 28 | €149,800 | - | -€149,800 | |
| Current assets | 29/58 | €4,077,661 | €904,233 | -€3.2m | -77.8% |
| Amounts receivable within one year | 40/41 | €3,939,767 | €865,913 | -€3.1m | -78.0% |
| Trade receivables | 40 | €3,407,113 | €414,192 | -€3.0m | -87.8% |
| Other amounts receivable | 41 | €532,655 | €451,721 | -€80,934 | -15.2% |
| Cash at bank and in hand | 54/58 | €137,894 | €38,133 | -€99,760 | -72.3% |
| Deferred charges and accrued income | 490/1 | - | €186 | +€186 | |
| Total equity and liabilities | 10/49 | €5,770,305 | €2,570,561 | -€3.2m | -55.5% |
| Equity | 10/15 | €892,397 | €1,216,371 | +€323,974 | +36.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €529,362 | €529,362 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,240 | €1,240 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,240 | €1,240 | = | 0.0% |
| Distributable reserves | 133 | €528,122 | €528,122 | = | 0.0% |
| Profit (loss) carried forward | 14 | €350,634 | €674,609 | +€323,974 | +92.4% |
| Amounts payable | 17/49 | €4,877,909 | €1,354,191 | -€3.5m | -72.2% |
| Amounts payable after more than one year | 17 | €303,892 | €280,516 | -€23,376 | -7.7% |
| Financial debts | 170/4 | €303,892 | €280,516 | -€23,376 | -7.7% |
| Amounts payable within one year | 42/48 | €4,556,876 | €1,073,674 | -€3.5m | -76.4% |
| Current portion of amounts payable after more than one year | 42 | €45,454 | €35,831 | -€9,623 | -21.2% |
| Trade debts | 44 | €4,426,368 | €917,687 | -€3.5m | -79.3% |
| Suppliers | 440/4 | €4,426,368 | €917,687 | -€3.5m | -79.3% |
| Taxes, remuneration and social security | 45 | €85,053 | €120,156 | +€35,103 | +41.3% |
| Taxes | 450/3 | €85,053 | €120,156 | +€35,103 | +41.3% |
| Accrued charges and deferred income | 492/3 | €17,141 | - | -€17,141 | |
| Remuneration, social security and pensions | 62 | €179,705 | €75,609 | -€104,096 | -57.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €191,060 | €160,670 | -€30,390 | -15.9% |
| Other operating charges | 640/8 | €31,909 | €41,796 | +€9,886 | +31.0% |
| Gross operating margin | 9900 | €437,629 | €776,996 | +€339,367 | +77.5% |
| Operating profit (loss) | 9901 | €34,955 | €498,921 | +€463,966 | +1,327% |
| Financial income | 75/76B | €18,292 | €23,216 | +€4,925 | +26.9% |
| Recurring financial income | 75 | €18,292 | €23,216 | +€4,925 | +26.9% |
| Financial charges | 65/66B | €19,423 | €78,008 | +€58,585 | +302% |
| Recurring financial charges | 65 | €19,423 | €76,133 | +€56,710 | +292% |
| Non-recurring financial charges | 66B | - | €1,875 | +€1,875 | |
| Profit (loss) for the period before taxes | 9903 | €33,824 | €444,130 | +€410,306 | +1,213% |
| Income taxes | 67/77 | €25,034 | €120,156 | +€95,122 | +380% |
| Profit (loss) for the period | 9904 | €8,790 | €323,974 | +€315,185 | +3,586% |
| Profit (loss) for the period to be appropriated | 9905 | €8,790 | €323,974 | +€315,185 | +3,586% |
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 17 October 2026 via checked.be.