INGEAR: 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.
INGEAR
Largest movements
- Financial fixed assets +€35,285
up €35,285 (+19.2%), from €183,762 to €219,047
- Tangible fixed assets -€14,387
down €14,387 (-9.1%), from €158,857 to €144,470
of which Land and buildings: -€12,869
- Cash -€11,043
down €11,043 (-69.6%), from €15,868 to €4,825
mainly Investment in fixed assets (net) (-€35,285) and Contributions, distributions and other (-€20,000)
- Other debts +€19,675
up €19,675 (+886%), from €2,221 to €21,896
- Debts after one year -€11,851
down €11,851 (-8.0%), from €147,281 to €135,430
- Reserves -€11,515
down €11,515 (-6.1%), from €189,995 to €178,480
- Trade debts +€10,512
up €10,512 (+4,428%), from €237 to €10,749
- Advances received +€10,000
new in 2025: €10,000
- Gross operating margin -€23,216
down €23,216 (-46.1%), from €50,331 to €27,115
- Taxes -€7,813
down €7,813 (-60.4%), from €12,935 to €5,122
- Financial income -€1,896
down €1,896 (-20.2%), from €9,396 to €7,500
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 | €512,710 | €524,211 | +€11,500 | +2.2% |
| Fixed assets | 21/28 | €342,620 | €363,517 | +€20,897 | +6.1% |
| Tangible fixed assets | 22/27 | €158,857 | €144,470 | -€14,387 | -9.1% |
| Land and buildings | 22 | €155,652 | €142,784 | -€12,869 | -8.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €676 | €0 | -€676 | -100% |
| Other tangible fixed assets | 26 | €2,529 | €1,686 | -€843 | -33.3% |
| Financial fixed assets | 28 | €183,762 | €219,047 | +€35,285 | +19.2% |
| Current assets | 29/58 | €170,091 | €160,694 | -€9,397 | -5.5% |
| Amounts receivable after more than one year | 29 | €150,000 | €150,000 | = | 0.0% |
| Other amounts receivable | 291 | €150,000 | €150,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,029 | €1,225 | -€1,805 | -59.6% |
| Trade receivables | 40 | €2,984 | €0 | -€2,984 | -100% |
| Other amounts receivable | 41 | €45 | €1,225 | +€1,180 | +2,621% |
| Cash at bank and in hand | 54/58 | €15,868 | €4,825 | -€11,043 | -69.6% |
| Deferred charges and accrued income | 490/1 | €1,193 | €4,644 | +€3,451 | +289% |
| Total equity and liabilities | 10/49 | €512,710 | €524,211 | +€11,500 | +2.2% |
| Equity | 10/15 | €325,559 | €314,045 | -€11,514 | -3.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €115,462 | €115,462 | = | 0.0% |
| Reserves | 13 | €189,995 | €178,480 | -€11,515 | -6.1% |
| Distributable reserves | 133 | €189,995 | €178,480 | -€11,515 | -6.1% |
| Profit (loss) carried forward | 14 | €102 | €103 | +€1 | +1.1% |
| Amounts payable | 17/49 | €187,151 | €210,166 | +€23,014 | +12.3% |
| Amounts payable after more than one year | 17 | €147,281 | €135,430 | -€11,851 | -8.0% |
| Financial debts | 170/4 | €147,281 | €135,430 | -€11,851 | -8.0% |
| Amounts payable within one year | 42/48 | €39,870 | €74,735 | +€34,865 | +87.4% |
| Current portion of amounts payable after more than one year | 42 | €11,645 | €11,851 | +€206 | +1.8% |
| Trade debts | 44 | €237 | €10,749 | +€10,512 | +4,428% |
| Suppliers | 440/4 | €237 | €10,749 | +€10,512 | +4,428% |
| Advances received on contracts in progress | 46 | - | €10,000 | +€10,000 | |
| Taxes, remuneration and social security | 45 | €25,767 | €20,239 | -€5,527 | -21.5% |
| Taxes | 450/3 | €25,767 | €20,239 | -€5,527 | -21.5% |
| Other amounts payable | 47/48 | €2,221 | €21,896 | +€19,675 | +886% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,755 | €14,387 | -€368 | -2.5% |
| Other operating charges | 640/8 | €2,481 | €2,557 | +€76 | +3.1% |
| Gross operating margin | 9900 | €50,331 | €27,115 | -€23,216 | -46.1% |
| Operating profit (loss) | 9901 | €33,095 | €10,171 | -€22,924 | -69.3% |
| Financial income | 75/76B | €9,396 | €7,500 | -€1,896 | -20.2% |
| Recurring financial income | 75 | €9,396 | €7,500 | -€1,896 | -20.2% |
| Financial charges | 65/66B | €3,759 | €4,063 | +€304 | +8.1% |
| Recurring financial charges | 65 | €3,759 | €4,063 | +€304 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | €38,732 | €13,608 | -€25,124 | -64.9% |
| Income taxes | 67/77 | €12,935 | €5,122 | -€7,813 | -60.4% |
| Profit (loss) for the period | 9904 | €25,797 | €8,486 | -€17,311 | -67.1% |
| Profit (loss) for the period to be appropriated | 9905 | €25,797 | €8,486 | -€17,311 | -67.1% |
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 13 October 2026 via checked.be.