INGELOG GROUP: 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.
INGELOG GROUP
Largest movements
- Financial fixed assets +€114,950
up €114,950 (+2,276%), from €5,050 to €120,000
- Cash +€31,255
up €31,255 (+465%), from €6,726 to €37,981
mainly Contributions, distributions and other (+€184,540) and Receivables within one year (+€10,541)
- Receivables within one year -€10,541
down €10,541 (-74.0%), from €14,254 to €3,713
of which Trade receivables: -€9,006
- Formation expenses +€6,675
new in 2025: €6,675
- Deferred charges and accrued income -€4,901
down €4,901 (-80.2%), from €6,111 to €1,210
- Revaluation surpluses +€115,000
new in 2025: €115,000
- Contributions +€71,400
up €71,400 (+384%), from €18,600 to €90,000
- Profit (loss) carried forward -€34,743
down €34,743 (-259%), from -€13,396 to -€48,139
- Other debts -€8,871
down €8,871 (-28.5%), from €31,159 to €22,288
- Reserves -€1,860
down €1,860 (-100%), from €1,860 to €0
- Gross operating margin -€35,212
down €35,212, from €11,925 to -€23,287
- Other operating charges +€5,000
new in 2025: €5,000
- Depreciation -€2,781
down €2,781 (-33.3%), from €8,347 to €5,566
- Taxes -€458
down €458 (-35.2%), from €1,301 to €843
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 | €38,317 | €180,357 | +€142,040 | +371% |
| Formation expenses | 20 | - | €6,675 | +€6,675 | |
| Fixed assets | 21/28 | €11,226 | €130,778 | +€119,552 | +1,065% |
| Tangible fixed assets | 22/27 | €6,176 | €10,778 | +€4,602 | +74.5% |
| Land and buildings | 22 | €123 | €0 | -€123 | -100% |
| Plant, machinery and equipment | 23 | €1,964 | €6,436 | +€4,472 | +228% |
| Furniture and vehicles | 24 | €4,089 | €4,342 | +€253 | +6.2% |
| Financial fixed assets | 28 | €5,050 | €120,000 | +€114,950 | +2,276% |
| Current assets | 29/58 | €27,091 | €42,904 | +€15,813 | +58.4% |
| Amounts receivable within one year | 40/41 | €14,254 | €3,713 | -€10,541 | -74.0% |
| Trade receivables | 40 | €12,719 | €3,713 | -€9,006 | -70.8% |
| Other amounts receivable | 41 | €1,535 | €0 | -€1,535 | -100% |
| Cash at bank and in hand | 54/58 | €6,726 | €37,981 | +€31,255 | +465% |
| Deferred charges and accrued income | 490/1 | €6,111 | €1,210 | -€4,901 | -80.2% |
| Total equity and liabilities | 10/49 | €38,317 | €180,357 | +€142,040 | +371% |
| Equity | 10/15 | €7,064 | €156,861 | +€149,797 | +2,121% |
| Contributions | 10/11 | €18,600 | €90,000 | +€71,400 | +384% |
| Capital | 10 | - | €90,000 | +€90,000 | |
| Issued capital | 100 | - | €90,000 | +€90,000 | |
| Revaluation surpluses | 12 | - | €115,000 | +€115,000 | |
| Reserves | 13 | €1,860 | €0 | -€1,860 | -100% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Legal reserve | 130 | - | €0 | = | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Profit (loss) carried forward | 14 | -€13,396 | -€48,139 | -€34,743 | -259% |
| Amounts payable | 17/49 | €31,253 | €23,496 | -€7,757 | -24.8% |
| Amounts payable within one year | 42/48 | €31,253 | €23,496 | -€7,757 | -24.8% |
| Trade debts | 44 | €94 | €1,097 | +€1,003 | +1,067% |
| Suppliers | 440/4 | €94 | €1,097 | +€1,003 | +1,067% |
| Taxes, remuneration and social security | 45 | - | €111 | +€111 | |
| Taxes | 450/3 | - | €111 | +€111 | |
| Other amounts payable | 47/48 | €31,159 | €22,288 | -€8,871 | -28.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,347 | €5,566 | -€2,781 | -33.3% |
| Other operating charges | 640/8 | - | €5,000 | +€5,000 | |
| Gross operating margin | 9900 | €11,925 | -€23,287 | -€35,212 | |
| Operating profit (loss) | 9901 | €3,578 | -€33,853 | -€37,431 | |
| Financial charges | 65/66B | €87 | €47 | -€40 | -46.0% |
| Recurring financial charges | 65 | €87 | €47 | -€40 | -46.0% |
| Profit (loss) for the period before taxes | 9903 | €3,491 | -€33,900 | -€37,391 | |
| Income taxes | 67/77 | €1,301 | €843 | -€458 | -35.2% |
| Profit (loss) for the period | 9904 | €2,190 | -€34,743 | -€36,933 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,190 | -€34,743 | -€36,933 |
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 18 October 2026 via checked.be.