Ingelbeen: 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.
What changed
Ingelbeen
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.0m
2024 · €1.7m+€1.3m
Equity
€37.5m
2024 · €34.6m+€3.0m
Cash
€301,003
2024 · €107,663+€193,341
Balance sheet total
€38.8m
2024 · €39.2m-€477,738
Largest movements
Assets
- Receivables within one year -€442,460
down €442,460 (-39.3%), from €1.1m to €682,954
of which Other amounts receivable: -€401,625
- Current investments -€420,000
down €420,000 (-3.1%), from €13.5m to €13.0m
Equity and liabilities
- Other debts -€3.3m
down €3.3m (-80.7%), from €4.1m to €792,446
- Reserves +€3.0m
up €3.0m (+17.0%), from €17.6m to €20.6m
of which Distributable reserves: +€2.6m
Income statement
- Financial income +€1.1m
up €1.1m (+261.3%), from €434,646 to €1.6m
- Turnover +€192,615
up €192,615 (+5.4%), from €3.5m to €3.7m
- Financial charges -€89,172
down €89,172 (-27.0%), from €330,030 to €240,858
- Staff costs +€76,981
up €76,981 (+10.1%), from €761,693 to €838,674
- Services and other goods +€53,510
up €53,510 (+10.3%), from €520,564 to €574,074
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
€1.7m
Turnover
+€192,615
Other operating income
+€19,028
Services and other goods
-€53,510
Staff costs
-€76,981
Depreciation
-€24,216
Other operating charges
-€4,860
Other operating items
-€6,160
Financial income
+€1.1m
Financial charges
+€89,172
Taxes
-€8,020
Result 2025
€3.0m
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.
From operations
+€118,750
Investment
+€74,590
Financing
€0
Cash 2024
€107,663
From operations (derived)
+€118,750
Net result for the year
+€3.0m
Depreciation
+€113,491
Receivables within one year
+€442,460
Deferred charges and accrued income
+€40,538
Trade debts
-€28,337
Tax, wage and social debts
-€12,168
Other debts
-€3.3m
Accrued charges and deferred income
-€100,580
Investment (derived)
+€74,590
Investment in fixed assets (net)
-€345,410
Current investments
+€420,000
Cash 2025
€301,003
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €39,243,812 | €38,766,073 | -€477,738 | -1.2% |
| Fixed assets | 21/28 | €24,458,708 | €24,690,627 | +€231,919 | +0.9% |
| Tangible fixed assets | 22/27 | €235,733 | €453,518 | +€217,785 | +92.4% |
| Furniture and vehicles | 24 | €235,733 | €420,977 | +€185,244 | +78.6% |
| Other tangible fixed assets | 26 | - | €32,541 | +€32,541 | |
| Financial fixed assets | 28 | €24,222,975 | €24,237,109 | +€14,134 | +0.1% |
| Affiliated companies | 280/1 | €24,222,975 | €24,237,109 | +€14,134 | +0.1% |
| Participating interests | 280 | €24,222,975 | €24,237,109 | +€14,134 | +0.1% |
| Current assets | 29/58 | €14,785,104 | €14,075,446 | -€709,657 | -4.8% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,125,414 | €682,954 | -€442,460 | -39.3% |
| Trade receivables | 40 | €420,377 | €379,542 | -€40,835 | -9.7% |
| Other amounts receivable | 41 | €705,037 | €303,412 | -€401,625 | -57.0% |
| Current investments | 50/53 | €13,450,000 | €13,030,000 | -€420,000 | -3.1% |
| Other investments | 51/53 | €13,450,000 | €13,030,000 | -€420,000 | -3.1% |
| Cash at bank and in hand | 54/58 | €107,663 | €301,003 | +€193,341 | +179.6% |
| Deferred charges and accrued income | 490/1 | €102,027 | €61,489 | -€40,538 | -39.7% |
| Total equity and liabilities | 10/49 | €39,243,812 | €38,766,073 | -€477,738 | -1.2% |
| Equity | 10/15 | €34,553,176 | €37,538,341 | +€3.0m | +8.6% |
| Contributions | 10/11 | €16,962,223 | €16,962,223 | = | 0.0% |
| Reserves | 13 | €17,590,953 | €20,576,118 | +€3.0m | +17.0% |
| Tax-exempt reserves | 132 | €1,157,852 | €1,578,852 | +€421,000 | +36.4% |
| Distributable reserves | 133 | €16,433,101 | €18,997,267 | +€2.6m | +15.6% |
| Amounts payable | 17/49 | €4,690,636 | €1,227,732 | -€3.5m | -73.8% |
| Amounts payable within one year | 42/48 | €4,331,197 | €968,873 | -€3.4m | -77.6% |
| Trade debts | 44 | €35,542 | €7,205 | -€28,337 | -79.7% |
| Suppliers | 440/4 | €35,542 | €7,205 | -€28,337 | -79.7% |
| Taxes, remuneration and social security | 45 | €181,390 | €169,221 | -€12,168 | -6.7% |
| Taxes | 450/3 | €32,093 | €65,831 | +€33,738 | +105.1% |
| Remuneration and social security | 454/9 | €149,297 | €103,390 | -€45,907 | -30.7% |
| Other amounts payable | 47/48 | €4,114,265 | €792,446 | -€3.3m | -80.7% |
| Accrued charges and deferred income | 492/3 | €359,439 | €258,859 | -€100,580 | -28.0% |
| Operating income | 70/76A | €3,574,688 | €3,796,247 | +€221,559 | +6.2% |
| Turnover | 70 | €3,535,459 | €3,728,073 | +€192,615 | +5.4% |
| Other operating income | 74 | €38,816 | €57,844 | +€19,028 | +49.0% |
| Non-recurring operating income | 76A | €413 | €10,330 | +€9,917 | +2399.9% |
| Operating charges | 60/66A | €1,376,162 | €1,551,805 | +€175,643 | +12.8% |
| Services and other goods | 61 | €520,564 | €574,074 | +€53,510 | +10.3% |
| Remuneration, social security and pensions | 62 | €761,693 | €838,674 | +€76,981 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,275 | €113,491 | +€24,216 | +27.1% |
| Other operating charges | 640/8 | €4,630 | €9,490 | +€4,860 | +105.0% |
| Non-recurring operating charges | 66A | - | €16,077 | +€16,077 | |
| Operating profit (loss) | 9901 | €2,198,526 | €2,244,442 | +€45,916 | +2.1% |
| Financial income | 75/76B | €434,646 | €1,570,420 | +€1.1m | +261.3% |
| Recurring financial income | 75 | €434,646 | €1,570,420 | +€1.1m | +261.3% |
| Income from financial fixed assets | 750 | €10,693 | €1,250,106 | +€1.2m | +11591.3% |
| Income from current assets | 751 | €423,954 | €320,314 | -€103,639 | -24.4% |
| Other financial income | 752/9 | - | €0 | = | |
| Financial charges | 65/66B | €330,030 | €240,858 | -€89,172 | -27.0% |
| Recurring financial charges | 65 | €330,030 | €240,858 | -€89,172 | -27.0% |
| Debt charges | 650 | €329,999 | €240,782 | -€89,217 | -27.0% |
| Other financial charges | 652/9 | €31 | €76 | +€45 | +142.2% |
| Profit (loss) for the period before taxes | 9903 | €2,303,142 | €3,574,004 | +€1.3m | +55.2% |
| Income taxes | 67/77 | €580,819 | €588,838 | +€8,020 | +1.4% |
| Taxes | 670/3 | €580,819 | €588,838 | +€8,020 | +1.4% |
| Profit (loss) for the period | 9904 | €1,722,324 | €2,985,166 | +€1.3m | +73.3% |
| Transfer from tax-exempt reserves | 789 | €120,281 | €0 | -€120,281 | -100.0% |
| Transfer to tax-exempt reserves | 689 | €421,000 | €421,000 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,421,604 | €2,564,166 | +€1.1m | +80.4% |
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 5 October 2026 via checked.be.