INGEO

Active Private limited companyfounded 2011active for 15 yearsRue Victor Besme 76, 4800 VerviersKBO/BCE: BE 0837.170.277 subsidiary of Studibo Belgium#6 employer in Verviers, Professional and technical services sector

Part of the group STUDIBO HOLDING 26 companies in 2 countries

See the group

INGEO

Financial year 2025

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Annual accounts 2025

abbreviated format, filed on 10-07-2026, 21 days before the deadline

€1.3m

▲ 58.4%

€177,875

▼ 41.5%

€114,135

▼ 51.3%

-€90,528

▼ €1.1m

26.3%

▼ 55.2 percentage points

0.94

▼ 4.01

The turnover shown is an estimate from the gross margin.

Turnover ≈ €2.2m. Estimated: probably between €1.5m and €3.6m.

In the rankings #6 employer in Verviers, Professional and technical services sector #9 company by total assets in Verviers, Professional and technical services sector

Balance sheet

balance sheet total €5.0m on 31-12-2025

What the company ownsHow it is paid for

in €m

Position in the sector

Compare with sector

26.3%

Higher than 29% of 2,563 companies in 2025.

0.94

Higher than 20% of 2,519 companies in 2025.

2.3%

Higher than 35% of 2,540 companies in 2025.

INGEO Middle half of the sector 80% of the sector Abbreviated accounts in architecture and engineering (NACE 71)

Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: bottom quarter · Staff: top quarter

Staff

€55,089

Staff costs divided by the average number of full-time equivalents.

people who joined people who left

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Balance sheet: assets
`20/58`	5.0m	1.5m	1.5m	1.0m	955,636	546,805	431,435	236,924	205,486	218,953	137,255	127,160	142,009	120,841
`21/28`	3.7m	204,227	241,536	330,670	211,478	71,187	61,139	47,353	30,956	16,965	11,259	23,617	19,939	24,395
`21`	331,894	2,288	4,640	6,992	-	-	-	-	-	-	-	-	444	1,111
`22/27`	455,085	201,804	236,762	323,679	211,478	71,187	61,139	47,353	30,956	16,965	11,259	23,617	19,495	23,284
`22`	8,081	-	-	-	-	-	-	-	-	-	-	-	-	-
`23`	106,757	59,005	62,874	95,920	121,582	27,600	33,606	37,759	17,113	209	745	1,451	1,406	677
`24`	218,661	142,799	173,888	227,758	89,896	43,587	27,533	9,595	13,844	16,756	10,514	22,166	18,089	22,607
`25`	48,215	-	-	-	-	-	-	-	-	-	-	-	-	-
`26`	73,370	-	-	-	-	-	-	-	-	-	-	-	-	-
`28`	2.9m	135	135	-	-	-	-	-	-	-	-	-	-	-
`29/58`	1.4m	1.3m	1.3m	706,721	744,158	475,617	370,296	189,570	174,530	201,989	125,996	103,543	122,070	96,446
`3`	0	18,000	-	-	-	-	-	-	-	-	-	-	-	-
`30/36`	0	18,000	-	-	-	-	-	-	-	-	-	-	-	-
`40/41`	1.1m	664,995	626,472	305,483	245,996	129,063	76,404	47,901	50,820	95,800	38,618	86,262	52,014	33,889
`40`	402,515	404,913	306,929	141,160	156,855	103,408	62,427	47,901	43,605	95,688	34,576	45,822	47,176	33,889
`41`	738,808	260,082	319,544	164,322	89,141	25,655	13,977	-	7,215	111	4,043	40,440	4,838	-
`50/53`	0	502,166	507,407	218,933	330,610	300,610	270,516	120,475	115,435	98,336	80,246	495	61,272	57,200
`54/58`	202,006	87,486	128,996	168,058	159,205	42,218	19,797	21,194	8,275	5,848	7,131	16,786	8,784	4,155
`490/1`	25,393	8,317	4,855	14,248	8,347	3,726	3,580	-	-	2,005	-	-	-	1,201
Balance sheet: equity and liabilities
`10/49`	5.0m	1.5m	1.5m	1.0m	955,636	546,805	431,435	236,924	205,486	218,953	137,255	127,160	142,009	120,841
`10/15`	1.3m	1.2m	975,297	673,816	473,869	305,923	267,447	185,109	141,051	113,218	58,741	42,465	36,309	22,885
`10/11`	2,046	2,046	2,046	2,046	2,046	2,046	2,046	2,046	2,046	2,046	2,046	2,046	2,046	2,046
`100`	-	-	-	-	-	-	2,046	2,046	2,046	2,046	2,046	2,046	2,046	2,046
`13`	1.3m	1.2m	972,300	671,300	471,250	303,176	265,176	182,176	138,426	110,526	55,900	39,600	21,800	13,400
`130/1`	17,300	17,300	17,300	17,300	17,300	17,300	-	-	-	-	-	-	-	-
`130`	-	-	-	-	-	-	17,300	17,300	17,300	16,600	7,600	5,500	4,700	3,000
`1311`	17,300	17,300	17,300	17,300	17,300	17,300	-	-	-	-	-	-	-	-
`132`	-	-	-	-	31,950	78,876	78,876	78,876	60,126	46,926	28,300	20,100	17,100	10,400
`133`	1.3m	1.2m	955,000	654,000	422,000	207,000	169,000	86,000	61,000	47,000	20,000	14,000	-	-
`14`	0	463	951	470	573	702	225	887	579	646	795	819	12,463	7,439
`17/49`	3.7m	275,380	533,970	363,575	481,767	240,881	163,989	51,815	64,435	105,735	78,514	84,695	105,700	97,956
`17`	2.3m	15,596	151,665	192,042	197,540	106,444	110,944	1,826	6,166	10,445	-	-	1,455	10,017
`170/4`	58,856	15,596	51,665	92,042	97,540	6,444	10,944	1,826	6,166	10,445	-	-	1,455	10,017
`178/9`	2.2m	-	100,000	100,000	100,000	100,000	100,000	-	-	-	-	-	-	-
`42/48`	1.5m	258,920	375,115	165,816	278,847	125,395	50,638	49,730	56,667	93,706	77,250	83,695	103,476	87,887
`42`	36,777	36,069	40,377	45,771	37,840	4,500	6,285	4,340	4,279	4,220	-	1,455	8,563	8,285
`43`	897	-	-	-	-	-	-	-	-	-	-	-	-	380
`430/8`	897	-	-	-	-	-	-	-	-	-	-	-	-	380
`44`	331,333	91,599	177,902	40,659	193,720	77,767	16,555	18,609	4,771	45,005	36,418	47,425	51,530	46,224
`440/4`	331,333	91,599	177,902	40,659	193,720	77,767	16,555	18,609	4,771	45,005	36,418	47,425	51,530	46,224
`46`	13,611	-	-	-	-	-	-	-	-	-	-	-	-	-
`45`	193,927	131,253	136,692	62,543	32,085	32,377	22,325	24,689	13,016	13,385	14,045	13,794	9,462	17,452
`450/3`	125,317	73,717	86,135	25,098	7,097	16,691	2,811	14,294	2,860	3,286	2,667	6,761	4,621	16,152
`454/9`	68,610	57,535	50,557	37,445	24,988	15,686	19,515	10,395	10,156	10,099	11,378	7,032	4,841	1,300
`47/48`	882,706	-	20,143	16,844	15,202	10,751	5,472	2,094	34,601	31,096	26,787	21,021	33,921	15,547
`492/3`	0	864	7,191	5,717	5,380	9,042	2,406	259	1,602	1,584	1,265	1,000	769	52
Income statement
`76A`	11,652	-	-	-	-	-	-	-	2,172	500	-	792	-	-
`9900`	1.3m	805,968	854,079	584,322	419,764	201,570	217,169	122,798	94,868	135,813	83,023	57,427	51,045	51,089
`62`	859,389	377,201	342,021	226,461	146,328	117,574	81,604	47,912	43,978	43,813	43,832	28,215	18,544	-
`630`	220,130	118,839	111,730	77,212	54,407	23,403	20,645	18,308	11,554	11,394	14,987	17,713	12,245	16,871
`631/4`	-2,459	3,184	-	-	-	-	-	-	-	-	-	-	-	-
`640/8`	6,019	2,693	1,426	1,322	3,986	1,340	1,232	1,129	1,329	3,931	1,614	1,877	2,901	2,509
`66A`	15,307	-	-	-	-	-	-	-	-	-	-	-	-	-
`9901`	177,875	304,050	398,902	279,327	215,043	59,253	113,688	55,449	38,007	76,674	22,591	9,622	17,355	31,709
`75/76B`	44,478	9,062	2,816	450	91	353	166	57	139	105	63	295	757	10
`75`	44,478	9,062	2,816	450	91	353	166	57	139	105	63	295	757	10
`65/66B`	31,792	1,046	-835	18,189	2,256	9,108	2,491	297	2,132	1,909	1,455	1,226	1,559	932
`65`	31,792	1,046	-835	18,189	2,256	9,108	2,491	297	2,132	1,909	1,455	1,226	1,559	932
`9903`	190,561	312,067	402,553	261,588	212,877	50,498	111,363	55,209	36,014	74,871	21,199	9,484	16,554	30,786
`67/77`	76,426	77,555	101,072	61,641	44,932	12,021	29,025	11,151	8,181	20,394	4,923	3,328	3,130	9,947
`9904`	114,135	234,512	301,481	199,947	167,946	38,477	82,338	44,058	27,833	54,477	16,276	6,156	13,425	20,839
`789`	-	-	-	31,950	46,926	-	-	-	-	124	-	-	-	-
`689`	-	-	-	-	-	-	-	18,750	13,200	18,750	8,200	3,000	6,700	10,400
`9905`	114,135	234,512	301,481	231,897	214,871	38,477	82,338	25,308	14,633	35,852	8,076	3,156	6,725	10,439
Appropriation of the result
`9906`	114,598	235,463	301,951	232,470	215,573	38,702	83,225	25,887	15,279	36,646	8,895	15,619	14,163	10,439
`14P`	463	951	470	573	702	-	-	-	-	-	-	-	-	-
`691/2`	114,598	235,000	301,000	232,000	215,000	38,000	83,000	25,000	14,700	36,000	8,100	14,800	1,700	3,000
`6920`	-	-	-	-	-	-	-	-	700	9,000	2,100	800	1,700	3,000
`6921`	114,598	235,000	301,000	232,000	215,000	38,000	83,000	25,000	14,000	27,000	6,000	14,000	-	-
Social balance sheet
`9087`	15.6	7.3	7.3	4.9	3.4	2.9	2	1.3	1	1	1.1	1	1	-
Hours worked`1013`	26,609	11,454	11,187	7,588	5,356	4,409	3,448	2,172	1,765	1,926	1,900	1,736	1,641	-
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

The notes to these accounts have 26 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 10-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	10-07-2026	2026-00277246	PDF
30-09-2024	full format	29-04-2025	2025-00087778	PDF
30-09-2023	full format	22-04-2024	2024-00067229	PDF
30-09-2022	micro format	17-05-2023	2023-00089101	PDF
30-09-2021	micro format	28-04-2022	2022-20014433	PDF
30-09-2020	micro format	29-04-2021	2021-12200601	PDF
30-09-2019	micro format	30-04-2020	2020-10700505	PDF
30-09-2018	micro format	29-04-2019	2019-11100567	PDF
30-09-2017	micro format	30-04-2018	2018-11500433	PDF
30-09-2016	full format	09-05-2017	2017-11500363	PDF
30-09-2015	full format	18-05-2016	2016-12400292	PDF
30-09-2014	full format	13-05-2015	2015-11900357	PDF
30-09-2013	full format	29-04-2014	2014-10900042	PDF
30-09-2012	full format	09-04-2013	2013-08600267	PDF

Key figures and ratios

per financial year, computed from the annual accounts

2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
398,006	422,889	510,632	356,538	269,450	82,656	134,333	73,757	49,561	88,068	37,577	27,335	29,600	48,580
334,265	353,351	413,211	277,159	222,353	61,879	102,983	62,366	39,387	65,872	31,262	23,869	25,669	37,710
4.1m	81,529	22,596	196,404	216,040	33,451	34,430	34,705	25,546	17,100	2,629	22,598	7,789	40,606
114,521	-41,511	-39,061	8,852	116,987	22,422	-1,398	12,920	2,427	-1,283	-9,655	8,002	4,628	-
-90,528	1.0m	892,616	540,905	465,311	350,222	319,658	139,840	117,863	108,283	48,746	19,848	18,594	8,559
26.3%	81.5%	64.6%	65.0%	49.6%	55.9%	62.0%	78.1%	68.6%	51.7%	42.8%	33.4%	25.6%	18.9%
0.94	4.95	3.38	4.26	2.67	3.79	7.31	3.81	3.08	2.16	1.63	1.24	1.18	1.10
0.94	4.88	3.38	4.26	2.67	3.79	7.31	3.81	3.08	2.16	1.63	1.24	1.18	1.10
2.81	0.23	0.55	0.54	1.02	0.79	0.61	0.28	0.46	0.93	1.34	1.99	2.91	4.28
8.6%	19.4%	30.9%	29.7%	35.4%	12.6%	30.8%	23.8%	19.7%	48.1%	27.7%	14.5%	37.0%	91.1%
2.3%	15.8%	20.0%	19.3%	17.6%	7.0%	19.1%	18.6%	13.5%	24.9%	11.9%	4.8%	9.5%	17.2%
12.52	over 100	-611.37	19.60	over 100	-	-	-	-	-	-	-	-	-

EBIT margin: not included in this filing.

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Social balance sheet

Item	31-12-2025	30-09-2024	30-09-2023	30-09-2022	30-09-2021
Employees at the balance-sheet date	17	9	8	7	3
full-time	15	9	8	7	3
part-time	2	-	-	-	-
in full-time equivalents	16.6	9	8	7	3
	15.6	7.3	7.3	4.9	3.4
On a permanent contract	10	6	4	4	2
Joined	-	8	5	4	2
Left	-	7	4	0	2

Source: social balance sheet in the 2021 to 2025 annual accounts

Investments

fixed assets acquired

Item	2025	30-09-2024	30-09-2023	30-09-2022	30-09-2021
Tangible fixed assets	€765,076	€81,529	€22,461	€189,348	€216,040
Intangible fixed assets	€433,660	-	-	€7,056	-
Financial fixed assets	€2.9m	-	€135	-	-
	€220,130	€118,839	€111,730	€77,212	€54,407

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on INGEO

The operating result for 2025 is 41% lower than in 2024 and the lowest since 2020. It is the second fall in a row.

Debt's share of the balance-sheet total rises from 18.5% to 73.7%. Equity and debt are higher.

Large changes and their cause

2025 Net result -51% on 2024. Merger absorbing C.G.L. CONSULT, effective 31-07-2025. This financial year ran 15 months, the previous one 12.
2025 Total assets +239% on 2024. Merger absorbing C.G.L. CONSULT, effective 31-07-2025.
2025 Staff (FTE) +114% on 2024. Merger absorbing C.G.L. CONSULT, effective 31-07-2025. The accounts now follow the abbreviated format, last year the full format.
2023 Net result +51% on 2022. The accounts now follow the full format, last year the micro format.

Next steps

Work out how much credit to give this customer and on what payment terms.Credit check Compare this company with its sector.Sector benchmark See what changed in the latest annual accounts.What changed

Annual accounts 2025

Balance sheet

Change in equityin €m

Change in cashin €m

Position in the sector

Solvency26.3%

Current ratio0.94

Return on assets2.3%

Staff

Staff cost per FTE€55,089

Joined and left

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Investments

Insights on INGEO

Next steps

in €m

in €m

26.3%

0.94

2.3%

€55,089