INGARA: what changed
Two fiscal 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.
INGARA
Largest movements
- Cash -€287,949
down €287,949 (-65.7%), from €438,149 to €150,200
mainly Debts after one year (-€285,131) and Net result for the year (-€41,393)
- Tangible fixed assets -€32,277
down €32,277 (-5.3%), from €611,713 to €579,436
of which Land and buildings: -€24,522
- Debts after one year -€285,131
down €285,131 (-53.0%), from €538,422 to €253,290
of which Financial debts: -€285,131
- Profit (loss) carried forward -€41,393
down €41,393 (-17.1%), from €241,562 to €200,170
- Gross operating margin -€53,480
down €53,480 (-69.7%), from €76,768 to €23,288
- Depreciation +€13,604
up €13,604 (+44.9%), from €30,276 to €43,880
- Financial charges -€6,490
down €6,490 (-51.4%), from €12,620 to €6,130
- Taxes -€4,160
no longer reported in 2025 (was €4,160)
- Financial income -€2,861
down €2,861 (-51.9%), from €5,513 to €2,653
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.
Cash bridge derived
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 | €1,070,521 | €745,826 | -€324,695 | -30.3% |
| Formation expenses | 20 | €2,855 | €1,561 | -€1,294 | -45.3% |
| Fixed assets | 21/28 | €611,713 | €579,436 | -€32,277 | -5.3% |
| Tangible fixed assets | 22/27 | €611,713 | €579,436 | -€32,277 | -5.3% |
| Land and buildings | 22 | €530,276 | €505,754 | -€24,522 | -4.6% |
| Furniture and vehicles | 24 | €69,541 | €55,401 | -€14,140 | -20.3% |
| Other tangible fixed assets | 26 | €11,897 | €18,281 | +€6,384 | +53.7% |
| Current assets | 29/58 | €455,952 | €164,829 | -€291,124 | -63.8% |
| Amounts receivable within one year | 40/41 | €13,925 | €14,134 | +€209 | +1.5% |
| Trade receivables | 40 | €10,437 | €10,930 | +€493 | +4.7% |
| Other amounts receivable | 41 | €3,488 | €3,204 | -€284 | -8.1% |
| Cash at bank and in hand | 54/58 | €438,149 | €150,200 | -€287,949 | -65.7% |
| Deferred charges and accrued income | 490/1 | €3,878 | €494 | -€3,384 | -87.3% |
| Total equity and liabilities | 10/49 | €1,070,521 | €745,826 | -€324,695 | -30.3% |
| Equity | 10/15 | €471,018 | €429,625 | -€41,393 | -8.8% |
| Contributions | 10/11 | €155,000 | €155,000 | = | 0.0% |
| Outside capital | 11 | - | €155,000 | +€155,000 | |
| Other | 1109/19 | - | €155,000 | +€155,000 | |
| Reserves | 13 | €74,455 | €74,455 | = | 0.0% |
| Distributable reserves | 133 | €74,455 | €74,455 | = | 0.0% |
| Profit (loss) carried forward | 14 | €241,562 | €200,170 | -€41,393 | -17.1% |
| Amounts payable | 17/49 | €599,503 | €316,201 | -€283,302 | -47.3% |
| Amounts payable after more than one year | 17 | €538,422 | €253,290 | -€285,131 | -53.0% |
| Financial debts | 170/4 | €518,730 | €233,599 | -€285,131 | -55.0% |
| Other amounts payable | 178/9 | €19,691 | €19,691 | = | 0.0% |
| Amounts payable within one year | 42/48 | €60,119 | €62,910 | +€2,791 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €54,410 | €52,597 | -€1,813 | -3.3% |
| Trade debts | 44 | €135 | - | -€135 | |
| Suppliers | 440/4 | €135 | - | -€135 | |
| Taxes, remuneration and social security | 45 | €5,574 | €10,314 | +€4,739 | +85.0% |
| Taxes | 450/3 | €1,574 | €4,314 | +€2,739 | +174.0% |
| Remuneration and social security | 454/9 | €4,000 | €6,000 | +€2,000 | +50.0% |
| Accrued charges and deferred income | 492/3 | €962 | - | -€962 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,276 | €43,880 | +€13,604 | +44.9% |
| Other operating charges | 640/8 | €17,763 | €17,322 | -€440 | -2.5% |
| Gross operating margin | 9900 | €76,768 | €23,288 | -€53,480 | -69.7% |
| Operating profit (loss) | 9901 | €28,729 | -€37,915 | -€66,644 | |
| Financial income | 75/76B | €5,513 | €2,653 | -€2,861 | -51.9% |
| Recurring financial income | 75 | €5,513 | €2,653 | -€2,861 | -51.9% |
| Financial charges | 65/66B | €12,620 | €6,130 | -€6,490 | -51.4% |
| Recurring financial charges | 65 | €12,620 | €6,130 | -€6,490 | -51.4% |
| Profit (loss) for the period before taxes | 9903 | €21,622 | -€41,393 | -€63,015 | |
| Income taxes | 67/77 | €4,160 | - | -€4,160 | |
| Profit (loss) for the period | 9904 | €17,463 | -€41,393 | -€58,855 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,463 | -€41,393 | -€58,855 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.