INFRARED EUROPEAN INFRASTRUCTURE INCOME 4 HOLDINGS LIMITED
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Cash
£1.3M
EUR 1,529,899
-71.9% vs 2024
Net assets
£67M
EUR 78,230,137
+5.2% vs 2024
Employees
0
Average over period
Profit before tax
-£11M
EUR -13,370,091
-175.7% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
3-year trend · vs Financials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £10,889,259 | £11,695,703 | £8,796,062 | -24.8% | |
| Operating profit | £21,330,840 | £11,225,363 | -£7,757,327 | -169.1% | |
| Profit before tax | £8,117,546 | -£4,156,988 | -£11,461,715 | -175.7% | |
| Net profit | £8,117,546 | -£4,274,105 | -£11,488,447 | -168.8% | |
| Cash | £232,180 | £4,668,580 | £1,311,529 | -71.9% | |
| Total assets less current liabilities | £254,976,501 | £210,786,987 | — | — | |
| Net assets | £84,137,099 | £63,748,531 | £67,063,984 | +5.2% | |
| Equity | £84,137,099 | £63,748,531 | £67,063,984 | +5.2% | |
| Average employees | 0 | 0 | 0 | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | £0 | £0 | — | — |
Figures converted to GBP from EUR at 0.857 per EUR (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 195.9% | 96.0% | -88.2% | |
| Net margin | 74.5% | -36.5% | -130.6% | |
| Return on capital employed | 8.4% | 5.3% | — | |
| Gearing (liabilities / total assets) | 68.0% | 71.4% | 70.0% | |
| Current ratio | 0.15x | 0.45x | — | |
| Interest cover | 2.01x | 1.01x | -0.90x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- IFRS
- Auditor
- KPMG LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have prepared the financial statements on the going concern basis as they do not intend to liquidate the Company or to cease its operations, and as they have concluded that the Company's financial position means that this is realistic. They have also concluded that there are no material uncertainties that could have cast significant doubt over its ability to continue as a going concern for at least a year from the date of approval of the financial statements (the "going concern period").”
Group structure
- INFRARED EUROPEAN INFRASTRUCTURE INCOME 4 HOLDINGS LIMITED · parent
- European Infrastructure Investments Limited 100%
- Krange Vind B 25%
- QAH Group Limited 56.15%
- First French Fibre Limited 100%
- European Towerco Infrastructure Limited 100%
- European Infrastructure Income 4 Spanish Holdings Limited 100%
- Verneuil Holdings Limited 28.3%
- Bilbao Offshore Investment Ltd 50%
- Bilbao Offshore Holding Ltd 100%
- East Anglia One Limited 40%
- The Hospital Company (QAH Portsmouth) Holdings Limited 100%
- The Hospital Company (QAH Portsmouth) Limited 100%
- Nordie Limited 15.87%
- Nordie 2 Limited 100%
- Nordie France 100%
- Altitude Infra S.A.S 19.5%
- Prolink Infrastructure Sard 100%
Significant events
- “On 22 November 2024, the Company signed a binding agreement with Proximus to acquire 100% of the shares of Proximus Luxembourg Infrastructure ("Proximus"), subject to FDI approval. With FDI approval received in May 2025, the transaction completed on 12 June 2025 for a consideration of €84.6m. Subsequent to completion, Proximus changed its name to ProLink Infrastructure ("PLI").”
- “On 21 November 2025, the Company's subsidiary, European Tower Infrastructure Limited, agreed to issue new shares to a third party subject to receiving regulatory approval. Effectively reducing the Company's indirect equity stake from 100% to 50% which was subsequently completed in 2026.”
- “The Company divested half of its 50% interest in Twin Peaks on 1 October 2024 for consideration of €79.8m, crystallising a 10.5% IRR net of transaction fees and a 1.2x multiple for the divested stake. In year 2025, there were no divestments/disposal of investments.”
- “On 10 April 2026, subsequent to the reporting date, the Company completed syndication of its investment in PLI via its subsidiary European Tower Infrastructure Limited. The transaction resulted in indirect equity stake holding of the Company reducing from 100% to 50% for total proceeds of €8.6m.”
- “Subsequent to the reporting date, a conflict began in Iran and the wider Middle East, contributing to increased geopolitical uncertainty in global markets. The Directors have considered the potential implications of these events on the Company's financial position and investment valuations. Based on information available as at the reporting date and up to the date of approval of these financial statements, the Directors have concluded that this event does not give rise to an adjusting or non-adjusting event under IAS 10 Events after the Reporting Period.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 6 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| JTC (UK) LIMITED | Corporate Secretary | 2026-05-11 | — | — |
| FARNHILL, Russell Alan | Director | 2025-11-06 | Jun 1975 | British |
| GEORGE, Philip Roger Perkins | Director | 2024-01-22 | Jul 1971 | British |
| HUNT, Edward Thomas | Director | 2024-09-02 | Jan 1984 | Australian |
Show 6 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MENDES, Emily | Secretary | 2020-05-26 | 2025-09-22 |
| CRAWFORD, William Richard | Director | 2020-05-26 | 2024-07-31 |
| GILL, Christopher Paul | Director | 2020-05-26 | 2024-01-08 |
| MENDONÇA, Dulce Maria Baltazar | Director | 2020-05-26 | 2025-12-01 |
| SEEKINGS, Harry Edward Charles | Director | 2020-05-26 | 2022-05-25 |
| SMITH, Benjamin George | Director | 2024-09-02 | 2025-11-06 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Infrared European Infrastructure Income 4 General Partner Llp | Corporate entity | Shares 50–75%, Voting 50–75% | 2020-05-26 | Active |
Filing timeline
Last 20 of 49 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-12-10 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-26 | AP04 | officers | Appoint corporate secretary company with name date | |
| 2026-05-20 | AA | accounts | Accounts with accounts type full | |
| 2025-12-03 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-20 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-12 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-02 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-06-20 | SH01 | capital | Capital allotment shares | |
| 2025-06-19 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-06-19 | SH01 | capital | Capital allotment shares | |
| 2025-05-09 | AA | accounts | Accounts with accounts type full | |
| 2024-12-10 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2024-12-10 | RESOLUTIONS | resolution | Resolution | |
| 2024-12-10 | CAP-SS | insolvency | Legacy | |
| 2024-12-10 | SH20 | capital | Legacy | |
| 2024-09-02 | AP01 | officers | Appoint person director company with name date | |
| 2024-09-02 | AP01 | officers | Appoint person director company with name date | |
| 2024-08-01 | TM01 | officers | Termination director company with name termination date | |
| 2024-07-22 | SH01 | capital | Capital allotment shares | |
| 2024-06-06 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2024-06-06 | CS01 | confirmation-statement | Confirmation statement with updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 5
- Officers appointed
- 2
- Officers resigned
- 3
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.