IKENGIE: 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.
IKENGIE
Largest movements
- Tangible fixed assets +€306,770
up €306,770 (+279%), from €109,891 to €416,661
of which Land and buildings: +€323,833
- Receivables within one year -€19,978
down €19,978 (-65.7%), from €30,388 to €10,411
of which Other amounts receivable: -€20,834
- Cash +€7,994
up €7,994 (+20.0%), from €40,024 to €48,018
mainly Debts after one year (+€229,533) and Depreciation (+€71,592)
- Debts after one year +€229,533
up €229,533 (+341%), from €67,234 to €296,767
- Other debts +€69,767
up €69,767 (+8,298%), from €841 to €70,608
- Profit (loss) carried forward -€14,448
down €14,448, from €0 to -€14,448
- Current portion of long-term debt +€13,385
up €13,385 (+45.0%), from €29,727 to €43,112
- Trade debts -€5,050
down €5,050 (-30.6%), from €16,498 to €11,447
- Depreciation +€47,761
up €47,761 (+200%), from €23,831 to €71,592
- Staff costs -€39,168
down €39,168 (-51.0%), from €76,783 to €37,615
- Gross operating margin -€38,942
down €38,942 (-27.0%), from €144,487 to €105,545
- Taxes -€9,786
down €9,786 (-88.8%), from €11,021 to €1,235
- Financial income +€1,560
up €1,560 (+854%), from €183 to €1,743
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 | €202,558 | €495,589 | +€293,031 | +145% |
| Fixed assets | 21/28 | €115,896 | €418,758 | +€302,862 | +261% |
| Intangible fixed assets | 21 | €5,845 | €1,938 | -€3,907 | -66.8% |
| Tangible fixed assets | 22/27 | €109,891 | €416,661 | +€306,770 | +279% |
| Land and buildings | 22 | - | €323,833 | +€323,833 | |
| Plant, machinery and equipment | 23 | €14,450 | €10,597 | -€3,853 | -26.7% |
| Furniture and vehicles | 24 | €33,388 | €24,643 | -€8,745 | -26.2% |
| Other tangible fixed assets | 26 | €62,054 | €57,588 | -€4,466 | -7.2% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €86,662 | €76,830 | -€9,831 | -11.3% |
| Stocks and contracts in progress | 3 | €13,730 | €14,600 | +€870 | +6.3% |
| Stocks | 30/36 | €13,730 | €14,600 | +€870 | +6.3% |
| Amounts receivable within one year | 40/41 | €30,388 | €10,411 | -€19,978 | -65.7% |
| Trade receivables | 40 | €2,706 | €3,562 | +€856 | +31.6% |
| Other amounts receivable | 41 | €27,683 | €6,849 | -€20,834 | -75.3% |
| Cash at bank and in hand | 54/58 | €40,024 | €48,018 | +€7,994 | +20.0% |
| Deferred charges and accrued income | 490/1 | €2,519 | €3,802 | +€1,283 | +50.9% |
| Total equity and liabilities | 10/49 | €202,558 | €495,589 | +€293,031 | +145% |
| Equity | 10/15 | €59,865 | €45,417 | -€14,448 | -24.1% |
| Reserves | 13 | €59,865 | €59,865 | = | 0.0% |
| Distributable reserves | 133 | €59,865 | €59,865 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€14,448 | -€14,448 | |
| Amounts payable | 17/49 | €142,693 | €450,172 | +€307,479 | +215% |
| Amounts payable after more than one year | 17 | €67,234 | €296,767 | +€229,533 | +341% |
| Financial debts | 170/4 | €67,234 | €296,767 | +€229,533 | +341% |
| Amounts payable within one year | 42/48 | €75,459 | €151,457 | +€75,998 | +101% |
| Current portion of amounts payable after more than one year | 42 | €29,727 | €43,112 | +€13,385 | +45.0% |
| Financial debts | 43 | €483 | €31 | -€452 | -93.6% |
| Credit institutions | 430/8 | €483 | €31 | -€452 | -93.6% |
| Trade debts | 44 | €16,498 | €11,447 | -€5,050 | -30.6% |
| Suppliers | 440/4 | €16,498 | €11,447 | -€5,050 | -30.6% |
| Advances received on contracts in progress | 46 | €11,780 | €11,134 | -€646 | -5.5% |
| Taxes, remuneration and social security | 45 | €16,131 | €15,125 | -€1,006 | -6.2% |
| Taxes | 450/3 | €10,703 | €5,935 | -€4,768 | -44.5% |
| Remuneration and social security | 454/9 | €5,428 | €9,190 | +€3,762 | +69.3% |
| Other amounts payable | 47/48 | €841 | €70,608 | +€69,767 | +8,298% |
| Accrued charges and deferred income | 492/3 | €0 | €1,948 | +€1,948 | |
| Remuneration, social security and pensions | 62 | €76,783 | €37,615 | -€39,168 | -51.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,831 | €71,592 | +€47,761 | +200% |
| Other operating charges | 640/8 | €2,505 | €2,742 | +€237 | +9.4% |
| Gross operating margin | 9900 | €144,487 | €105,545 | -€38,942 | -27.0% |
| Operating profit (loss) | 9901 | €41,368 | -€6,404 | -€47,772 | |
| Financial income | 75/76B | €183 | €1,743 | +€1,560 | +854% |
| Recurring financial income | 75 | €183 | €1,743 | +€1,560 | +854% |
| Financial charges | 65/66B | €8,514 | €8,552 | +€38 | +0.4% |
| Recurring financial charges | 65 | €8,514 | €8,552 | +€38 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €33,037 | -€13,214 | -€46,250 | |
| Income taxes | 67/77 | €11,021 | €1,235 | -€9,786 | -88.8% |
| Profit (loss) for the period | 9904 | €22,016 | -€14,448 | -€36,464 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,016 | -€14,448 | -€36,464 |
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 26 October 2026 via checked.be.