TR Infra: 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.
TR Infra
Largest movements
- Receivables within one year -€161,662
down €161,662 (-64.8%), from €249,568 to €87,906
of which Trade receivables: -€186,198
- Cash +€42,420
up €42,420 (+475%), from €8,924 to €51,344
mainly Receivables within one year (+€161,662) and Other debts (+€39,978)
- Trade debts -€124,023
down €124,023 (-100%), from €124,023 to €0
- Profit (loss) carried forward -€40,572
down €40,572 (-33.7%), from €120,566 to €79,994
- Other debts +€39,978
up €39,978 (+39,978%), from €100 to €40,078
- Tax, wage and social debts +€4,981
up €4,981 (+21.1%), from €23,610 to €28,591
of which Taxes: +€6,124
- Gross operating margin -€49,651
down €49,651 (-19.0%), from €261,294 to €211,642
- Staff costs +€39,258
up €39,258 (+26.9%), from €145,692 to €184,949
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 | €273,298 | €153,692 | -€119,606 | -43.8% |
| Fixed assets | 21/28 | €6,123 | €3,797 | -€2,326 | -38.0% |
| Tangible fixed assets | 22/27 | €6,123 | €3,797 | -€2,326 | -38.0% |
| Plant, machinery and equipment | 23 | €4,941 | €2,871 | -€2,070 | -41.9% |
| Furniture and vehicles | 24 | €1,182 | €926 | -€256 | -21.7% |
| Current assets | 29/58 | €267,175 | €149,895 | -€117,280 | -43.9% |
| Stocks and contracts in progress | 3 | €8,683 | €8,822 | +€139 | +1.6% |
| Stocks | 30/36 | €8,683 | €8,822 | +€139 | +1.6% |
| Amounts receivable within one year | 40/41 | €249,568 | €87,906 | -€161,662 | -64.8% |
| Trade receivables | 40 | €223,323 | €37,125 | -€186,198 | -83.4% |
| Other amounts receivable | 41 | €26,246 | €50,781 | +€24,536 | +93.5% |
| Cash at bank and in hand | 54/58 | €8,924 | €51,344 | +€42,420 | +475% |
| Deferred charges and accrued income | 490/1 | - | €1,823 | +€1,823 | |
| Total equity and liabilities | 10/49 | €273,298 | €153,692 | -€119,606 | -43.8% |
| Equity | 10/15 | €125,566 | €84,994 | -€40,572 | -32.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €120,566 | €79,994 | -€40,572 | -33.7% |
| Amounts payable | 17/49 | €147,732 | €68,698 | -€79,034 | -53.5% |
| Amounts payable within one year | 42/48 | €147,732 | €68,668 | -€79,064 | -53.5% |
| Trade debts | 44 | €124,023 | €0 | -€124,023 | -100% |
| Suppliers | 440/4 | €124,023 | €0 | -€124,023 | -100% |
| Taxes, remuneration and social security | 45 | €23,610 | €28,591 | +€4,981 | +21.1% |
| Taxes | 450/3 | €22,467 | €28,591 | +€6,124 | +27.3% |
| Remuneration and social security | 454/9 | €1,143 | €0 | -€1,143 | -100% |
| Other amounts payable | 47/48 | €100 | €40,078 | +€39,978 | +39,978% |
| Accrued charges and deferred income | 492/3 | - | €30 | +€30 | |
| Remuneration, social security and pensions | 62 | €145,692 | €184,949 | +€39,258 | +26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,817 | €2,326 | +€509 | +28.0% |
| Other operating charges | 640/8 | €3,590 | €1,353 | -€2,236 | -62.3% |
| Gross operating margin | 9900 | €261,294 | €211,642 | -€49,651 | -19.0% |
| Operating profit (loss) | 9901 | €110,195 | €23,013 | -€87,182 | -79.1% |
| Financial charges | 65/66B | €308 | €240 | -€68 | -22.0% |
| Recurring financial charges | 65 | €308 | €240 | -€68 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | €109,888 | €22,773 | -€87,114 | -79.3% |
| Income taxes | 67/77 | €14,850 | €12,431 | -€2,419 | -16.3% |
| Profit (loss) for the period | 9904 | €95,038 | €10,342 | -€84,696 | -89.1% |
| Profit (loss) for the period to be appropriated | 9905 | €95,038 | €10,342 | -€84,696 | -89.1% |
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 23 October 2026 via checked.be.