INGECOMP: 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.
INGECOMP
Largest movements
- Receivables within one year +€307,818
up €307,818 (+162%), from €189,829 to €497,647
of which Other amounts receivable: +€307,164
- Current investments -€146,140
down €146,140 (-24.4%), from €600,000 to €453,860
- Cash -€24,476
down €24,476 (-25.1%), from €97,548 to €73,073
mainly Receivables within one year (-€307,818) and Contributions, distributions and other (-€234,500)
- Tangible fixed assets +€18,737
up €18,737 (+7.8%), from €240,638 to €259,375
of which Plant, machinery and equipment: +€31,216
- Reserves +€151,500
up €151,500 (+19.4%), from €779,360 to €930,860
of which Distributable reserves: +€151,500
- Tax, wage and social debts -€19,174
down €19,174 (-18.5%), from €103,912 to €84,738
of which Taxes: -€29,989
- Other debts +€16,655
up €16,655 (+8.2%), from €203,279 to €219,934
- Gross operating margin +€129,219
up €129,219 (+16.3%), from €793,939 to €923,158
- Staff costs +€14,619
up €14,619 (+4.5%), from €325,950 to €340,569
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 | €1,157,441 | €1,311,304 | +€153,862 | +13.3% |
| Fixed assets | 21/28 | €245,799 | €266,811 | +€21,013 | +8.5% |
| Intangible fixed assets | 21 | €4,980 | €6,778 | +€1,797 | +36.1% |
| Tangible fixed assets | 22/27 | €240,638 | €259,375 | +€18,737 | +7.8% |
| Plant, machinery and equipment | 23 | €66,908 | €98,124 | +€31,216 | +46.7% |
| Furniture and vehicles | 24 | €173,731 | €161,252 | -€12,479 | -7.2% |
| Financial fixed assets | 28 | €180 | €659 | +€479 | +266% |
| Current assets | 29/58 | €911,643 | €1,044,492 | +€132,850 | +14.6% |
| Amounts receivable within one year | 40/41 | €189,829 | €497,647 | +€307,818 | +162% |
| Trade receivables | 40 | €177,475 | €178,129 | +€654 | +0.4% |
| Other amounts receivable | 41 | €12,354 | €319,518 | +€307,164 | +2,486% |
| Current investments | 50/53 | €600,000 | €453,860 | -€146,140 | -24.4% |
| Cash at bank and in hand | 54/58 | €97,548 | €73,073 | -€24,476 | -25.1% |
| Deferred charges and accrued income | 490/1 | €24,265 | €19,913 | -€4,353 | -17.9% |
| Total equity and liabilities | 10/49 | €1,157,441 | €1,311,304 | +€153,862 | +13.3% |
| Equity | 10/15 | €798,516 | €950,074 | +€151,558 | +19.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €779,360 | €930,860 | +€151,500 | +19.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €777,500 | €929,000 | +€151,500 | +19.5% |
| Profit (loss) carried forward | 14 | €556 | €614 | +€58 | +10.4% |
| Amounts payable | 17/49 | €358,926 | €361,230 | +€2,304 | +0.6% |
| Amounts payable within one year | 42/48 | €323,138 | €324,088 | +€950 | +0.3% |
| Trade debts | 44 | €14,737 | €19,416 | +€4,679 | +31.7% |
| Suppliers | 440/4 | €14,737 | €19,416 | +€4,679 | +31.7% |
| Advances received on contracts in progress | 46 | €1,210 | €0 | -€1,210 | -100% |
| Taxes, remuneration and social security | 45 | €103,912 | €84,738 | -€19,174 | -18.5% |
| Taxes | 450/3 | €74,595 | €44,607 | -€29,989 | -40.2% |
| Remuneration and social security | 454/9 | €29,317 | €40,131 | +€10,815 | +36.9% |
| Other amounts payable | 47/48 | €203,279 | €219,934 | +€16,655 | +8.2% |
| Accrued charges and deferred income | 492/3 | €35,787 | €37,142 | +€1,355 | +3.8% |
| Remuneration, social security and pensions | 62 | €325,950 | €340,569 | +€14,619 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,036 | €63,693 | -€1,343 | -2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,431 | €6,947 | +€3,515 | +102% |
| Other operating charges | 640/8 | €2,174 | €5,344 | +€3,170 | +146% |
| Non-recurring operating charges | 66A | €100 | €50 | -€50 | -50.0% |
| Gross operating margin | 9900 | €793,939 | €923,158 | +€129,219 | +16.3% |
| Operating profit (loss) | 9901 | €397,247 | €506,555 | +€109,308 | +27.5% |
| Financial income | 75/76B | €25,074 | €19,073 | -€6,000 | -23.9% |
| Recurring financial income | 75 | €25,074 | €19,073 | -€6,000 | -23.9% |
| Financial charges | 65/66B | €2,714 | €2,241 | -€473 | -17.4% |
| Recurring financial charges | 65 | €2,714 | €2,241 | -€473 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €419,606 | €523,387 | +€103,781 | +24.7% |
| Income taxes | 67/77 | €138,403 | €137,329 | -€1,074 | -0.8% |
| Profit (loss) for the period | 9904 | €281,204 | €386,058 | +€104,854 | +37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €281,204 | €386,058 | +€104,854 | +37.3% |
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 15 October 2026 via checked.be.