INEOS C2T: 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.
What changed
INEOS C2T
NACE 52.241, Warehousing and support activities for transportation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€663,465
2024 · €400,743+€262,722
Equity
€31.5m
2024 · €30.9m+€653,064
Cash
€1.6m
2024 · €1.7m-€7,899
Balance sheet total
€155.9m
2024 · €96.4m+€59.5m
Largest movements
Assets
- Tangible fixed assets +€59.2m
up €59.2m (+67.3%), from €88.0m to €147.2m
of which Assets under construction and advance payments: +€70.7m
Equity and liabilities
- Other debts +€69.4m
up €69.4m (+190%), from €36.5m to €106.0m
- Debts after one year -€20.0m
no longer reported in 2025 (was €20.0m)
- Trade debts +€9.4m
up €9.4m (+104%), from €9.0m to €18.4m
Income statement
- Services and other goods +€3.1m
up €3.1m (+33.2%), from €9.4m to €12.5m
- Turnover +€2.5m
up €2.5m (+15.4%), from €16.5m to €19.1m
- Financial income +€631,694
up €631,694 (+427%), from €147,852 to €779,546
- Financial charges +€533,833
up €533,833 (+37.3%), from €1.4m to €2.0m
- Depreciation -€391,940
down €391,940 (-7.5%), from €5.3m to €4.9m
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.
Result 2024
€400,743
Turnover
+€2.5m
Other operating income
+€50,725
Goods and materials
+€94,391
Services and other goods
-€3.1m
Depreciation
+€391,940
Other operating charges
+€112,944
Financial income
+€631,694
Financial charges
-€533,833
Taxes
+€83,793
Deferred taxes and other
-€3,647
Result 2025
€663,465
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€84.1m
Investment
-€64.1m
Financing
-€20.0m
Cash 2024
€1.7m
From operations (derived)
+€84.1m
Net result for the year
+€663,465
Depreciation
+€4.9m
Smaller working-capital items
-€75,661
Receivables within one year
-€195,197
Trade debts
+€9.4m
Other debts
+€69.4m
Investment (derived)
-€64.1m
Investment in fixed assets (net)
-€64.1m
Financing
-€20.0m
Debts after one year
-€20.0m
Contributions, distributions and other
-€10,401
Cash 2025
€1.6m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €96,448,753 | €155,937,966 | +€59.5m | +61.7% |
| Fixed assets | 21/28 | €88,022,365 | €147,216,557 | +€59.2m | +67.2% |
| Tangible fixed assets | 22/27 | €87,993,597 | €147,216,557 | +€59.2m | +67.3% |
| Land and buildings | 22 | €7,735,021 | €1,646,397 | -€6.1m | -78.7% |
| Plant, machinery and equipment | 23 | €35,988,141 | €30,592,822 | -€5.4m | -15.0% |
| Other tangible fixed assets | 26 | €62,152 | €37,501 | -€24,651 | -39.7% |
| Assets under construction and advance payments | 27 | €44,208,283 | €114,939,837 | +€70.7m | +160% |
| Financial fixed assets | 28 | €28,768 | - | -€28,768 | |
| Other financial fixed assets | 284/8 | €28,768 | - | -€28,768 | |
| Amounts receivable and cash guarantees | 285/8 | €28,768 | - | -€28,768 | |
| Current assets | 29/58 | €8,426,388 | €8,721,409 | +€295,021 | +3.5% |
| Stocks and contracts in progress | 3 | €638,219 | €659,434 | +€21,215 | +3.3% |
| Stocks | 30/36 | €638,219 | €659,434 | +€21,215 | +3.3% |
| Raw materials and consumables | 30/31 | €638,219 | €659,434 | +€21,215 | +3.3% |
| Amounts receivable within one year | 40/41 | €6,134,322 | €6,329,519 | +€195,197 | +3.2% |
| Trade receivables | 40 | €4,744,373 | €5,185,778 | +€441,405 | +9.3% |
| Other amounts receivable | 41 | €1,389,949 | €1,143,741 | -€246,208 | -17.7% |
| Cash at bank and in hand | 54/58 | €1,653,847 | €1,645,948 | -€7,899 | -0.5% |
| Deferred charges and accrued income | 490/1 | - | €86,508 | +€86,508 | |
| Total equity and liabilities | 10/49 | €96,448,753 | €155,937,966 | +€59.5m | +61.7% |
| Equity | 10/15 | €30,893,304 | €31,546,368 | +€653,064 | +2.1% |
| Contributions | 10/11 | €23,002,000 | €23,002,000 | = | 0.0% |
| Capital | 10 | €23,002,000 | €23,002,000 | = | 0.0% |
| Issued capital | 100 | €23,002,000 | €23,002,000 | = | 0.0% |
| Reserves | 13 | €2,300,200 | €2,300,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,300,200 | €2,300,200 | = | 0.0% |
| Legal reserve | 130 | €2,300,200 | €2,300,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,384,222 | €6,047,687 | +€663,465 | +12.3% |
| Investment grants | 15 | €206,882 | €196,481 | -€10,401 | -5.0% |
| Provisions and deferred taxes | 16 | €34,368 | €30,900 | -€3,468 | -10.1% |
| Deferred taxes | 168 | €34,368 | €30,900 | -€3,468 | -10.1% |
| Amounts payable | 17/49 | €65,521,081 | €124,360,698 | +€58.8m | +89.8% |
| Amounts payable after more than one year | 17 | €20,000,000 | - | -€20.0m | |
| Financial debts | 170/4 | €20,000,000 | - | -€20.0m | |
| Other loans | 174 | €20,000,000 | - | -€20.0m | |
| Amounts payable within one year | 42/48 | €45,521,081 | €124,360,698 | +€78.8m | +173% |
| Trade debts | 44 | €8,995,165 | €18,364,150 | +€9.4m | +104% |
| Suppliers | 440/4 | €8,995,165 | €18,364,150 | +€9.4m | +104% |
| Taxes, remuneration and social security | 45 | - | €35,530 | +€35,530 | |
| Taxes | 450/3 | - | €35,530 | +€35,530 | |
| Other amounts payable | 47/48 | €36,525,916 | €105,961,018 | +€69.4m | +190% |
| Operating income | 70/76A | €16,915,589 | €19,516,143 | +€2.6m | +15.4% |
| Turnover | 70 | €16,505,651 | €19,055,480 | +€2.5m | +15.4% |
| Other operating income | 74 | €409,938 | €460,663 | +€50,725 | +12.4% |
| Operating charges | 60/66A | €15,019,242 | €17,535,081 | +€2.5m | +16.8% |
| Goods for resale, raw materials and consumables | 60 | €73,176 | -€21,215 | -€94,391 | |
| Purchases | 600/8 | €59,133 | - | -€59,133 | |
| Change in stocks: decrease (increase) | 609 | €14,043 | -€21,215 | -€35,258 | |
| Services and other goods | 61 | €9,386,122 | €12,501,236 | +€3.1m | +33.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,251,549 | €4,859,609 | -€391,940 | -7.5% |
| Other operating charges | 640/8 | €308,395 | €195,451 | -€112,944 | -36.6% |
| Operating profit (loss) | 9901 | €1,896,347 | €1,981,062 | +€84,715 | +4.5% |
| Financial income | 75/76B | €147,852 | €779,546 | +€631,694 | +427% |
| Recurring financial income | 75 | €147,852 | €779,546 | +€631,694 | +427% |
| Income from current assets | 751 | €89,569 | €299,882 | +€210,313 | +235% |
| Other financial income | 752/9 | €58,283 | €479,664 | +€421,381 | +723% |
| Financial charges | 65/66B | €1,430,930 | €1,964,763 | +€533,833 | +37.3% |
| Recurring financial charges | 65 | €1,430,930 | €1,964,763 | +€533,833 | +37.3% |
| Debt charges | 650 | €1,427,287 | €1,691,193 | +€263,906 | +18.5% |
| Other financial charges | 652/9 | €3,643 | €273,570 | +€269,927 | +7,409% |
| Profit (loss) for the period before taxes | 9903 | €613,269 | €795,845 | +€182,576 | +29.8% |
| Transfer from deferred taxes | 780 | €7,115 | €3,468 | -€3,647 | -51.3% |
| Income taxes | 67/77 | €219,641 | €135,848 | -€83,793 | -38.1% |
| Taxes | 670/3 | €219,641 | €135,848 | -€83,793 | -38.1% |
| Profit (loss) for the period | 9904 | €400,743 | €663,465 | +€262,722 | +65.6% |
| Profit (loss) for the period to be appropriated | 9905 | €400,743 | €663,465 | +€262,722 | +65.6% |
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 14 October 2026 via checked.be.