INGBAR: 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.
INGBAR
Largest movements
- Tangible fixed assets -€74,548
down €74,548 (-4.2%), from €1.8m to €1.7m
- Cash +€24,011
up €24,011 (+26.4%), from €91,056 to €115,067
mainly Depreciation (+€78,417) and Other debts (+€963)
- Reserves -€26,681
down €26,681 (-6.4%), from €414,818 to €388,136
of which Tax-exempt reserves: -€19,908
- Other operating charges +€6,347
up €6,347 (+17.6%), from €35,966 to €42,313
- Gross operating margin -€5,502
down €5,502 (-5.4%), from €101,756 to €96,254
- Financial charges -€1,034
down €1,034 (-10.4%), from €9,930 to €8,896
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 | €1,872,154 | €1,840,211 | -€31,944 | -1.7% |
| Fixed assets | 21/28 | €1,781,066 | €1,706,517 | -€74,548 | -4.2% |
| Tangible fixed assets | 22/27 | €1,781,066 | €1,706,517 | -€74,548 | -4.2% |
| Land and buildings | 22 | €1,781,066 | €1,706,517 | -€74,548 | -4.2% |
| Current assets | 29/58 | €91,089 | €133,693 | +€42,604 | +46.8% |
| Amounts receivable within one year | 40/41 | €33 | €18,627 | +€18,594 | +56,654% |
| Trade receivables | 40 | - | €13,655 | +€13,655 | |
| Other amounts receivable | 41 | €33 | €4,972 | +€4,939 | +15,049% |
| Cash at bank and in hand | 54/58 | €91,056 | €115,067 | +€24,011 | +26.4% |
| Total equity and liabilities | 10/49 | €1,872,154 | €1,840,211 | -€31,944 | -1.7% |
| Equity | 10/15 | €1,396,292 | €1,369,611 | -€26,681 | -1.9% |
| Contributions | 10/11 | €981,474 | €981,474 | = | 0.0% |
| Capital | 10 | €981,474 | €981,474 | = | 0.0% |
| Issued capital | 100 | €981,474 | €981,474 | = | 0.0% |
| Reserves | 13 | €414,818 | €388,136 | -€26,681 | -6.4% |
| Non-distributable reserves | 130/1 | €59,654 | €59,654 | = | 0.0% |
| Legal reserve | 130 | €59,654 | €59,654 | = | 0.0% |
| Tax-exempt reserves | 132 | €152,326 | €132,418 | -€19,908 | -13.1% |
| Distributable reserves | 133 | €202,838 | €196,064 | -€6,773 | -3.3% |
| Provisions and deferred taxes | 16 | €87,704 | €81,068 | -€6,636 | -7.6% |
| Deferred taxes | 168 | €87,704 | €81,068 | -€6,636 | -7.6% |
| Amounts payable | 17/49 | €388,159 | €389,532 | +€1,373 | +0.4% |
| Amounts payable within one year | 42/48 | €388,159 | €389,532 | +€1,373 | +0.4% |
| Financial debts | 43 | €257,459 | €257,459 | = | 0.0% |
| Other loans | 439 | €257,459 | €257,459 | = | 0.0% |
| Trade debts | 44 | €981 | €604 | -€377 | -38.4% |
| Suppliers | 440/4 | €981 | €604 | -€377 | -38.4% |
| Taxes, remuneration and social security | 45 | €1,873 | €2,660 | +€787 | +42.0% |
| Taxes | 450/3 | €1,873 | €2,660 | +€787 | +42.0% |
| Other amounts payable | 47/48 | €127,847 | €128,810 | +€963 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,031 | €78,417 | +€387 | +0.5% |
| Other operating charges | 640/8 | €35,966 | €42,313 | +€6,347 | +17.6% |
| Gross operating margin | 9900 | €101,756 | €96,254 | -€5,502 | -5.4% |
| Operating profit (loss) | 9901 | -€12,241 | -€24,476 | -€12,235 | -100.0% |
| Financial income | 75/76B | €65 | €79 | +€14 | +22.2% |
| Recurring financial income | 75 | €65 | €79 | +€14 | +22.2% |
| Financial charges | 65/66B | €9,930 | €8,896 | -€1,034 | -10.4% |
| Recurring financial charges | 65 | €9,930 | €8,896 | -€1,034 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | -€22,106 | -€33,293 | -€11,187 | -50.6% |
| Transfer from deferred taxes | 780 | €6,636 | €6,636 | = | 0.0% |
| Income taxes | 67/77 | - | €24 | +€24 | |
| Profit (loss) for the period | 9904 | -€15,470 | -€26,681 | -€11,211 | -72.5% |
| Transfer from tax-exempt reserves | 789 | €24,827 | €19,908 | -€4,919 | -19.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,356 | -€6,773 | -€16,130 |
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 19 October 2026 via checked.be.