Ingelvet: 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.
Ingelvet
Largest movements
- Receivables within one year -€33,437
down €33,437 (-12.0%), from €279,245 to €245,808
of which Other amounts receivable: -€49,895
- Cash +€31,188
up €31,188 (+23.0%), from €135,882 to €167,069
mainly Other debts (+€195,834) and Net result for the year (+€40,847)
- Tangible fixed assets +€7,016
up €7,016 (+24.5%), from €28,628 to €35,645
of which Furniture and vehicles: +€8,298
- Reserves -€199,153
down €199,153 (-52.0%), from €382,634 to €183,481
of which Distributable reserves: -€199,153
- Other debts +€195,834
up €195,834 (+151048.4%), from €130 to €195,964
- Tax, wage and social debts +€8,327
up €8,327 (+20.5%), from €40,667 to €48,994
- Gross operating margin -€55,775
down €55,775 (-44.6%), from €125,046 to €69,272
- Taxes -€13,012
down €13,012 (-55.9%), from €23,288 to €10,276
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €444,758 | €449,543 | +€4,785 | +1.1% |
| Fixed assets | 21/28 | €28,628 | €35,645 | +€7,016 | +24.5% |
| Tangible fixed assets | 22/27 | €28,628 | €35,645 | +€7,016 | +24.5% |
| Plant, machinery and equipment | 23 | €6,020 | €4,738 | -€1,282 | -21.3% |
| Furniture and vehicles | 24 | €22,608 | €30,906 | +€8,298 | +36.7% |
| Current assets | 29/58 | €416,130 | €413,898 | -€2,231 | -0.5% |
| Amounts receivable within one year | 40/41 | €279,245 | €245,808 | -€33,437 | -12.0% |
| Trade receivables | 40 | €12,513 | €28,970 | +€16,458 | +131.5% |
| Other amounts receivable | 41 | €266,732 | €216,837 | -€49,895 | -18.7% |
| Cash at bank and in hand | 54/58 | €135,882 | €167,069 | +€31,188 | +23.0% |
| Deferred charges and accrued income | 490/1 | €1,004 | €1,021 | +€18 | +1.8% |
| Total equity and liabilities | 10/49 | €444,758 | €449,543 | +€4,785 | +1.1% |
| Equity | 10/15 | €402,634 | €203,481 | -€199,153 | -49.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €382,634 | €183,481 | -€199,153 | -52.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €380,634 | €181,481 | -€199,153 | -52.3% |
| Amounts payable | 17/49 | €42,124 | €246,062 | +€203,938 | +484.1% |
| Amounts payable within one year | 42/48 | €42,124 | €246,062 | +€203,938 | +484.1% |
| Trade debts | 44 | €1,327 | €1,104 | -€223 | -16.8% |
| Suppliers | 440/4 | €1,327 | €1,104 | -€223 | -16.8% |
| Taxes, remuneration and social security | 45 | €40,667 | €48,994 | +€8,327 | +20.5% |
| Taxes | 450/3 | €40,667 | €48,994 | +€8,327 | +20.5% |
| Other amounts payable | 47/48 | €130 | €195,964 | +€195,834 | +151048.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,070 | €17,086 | +€1,016 | +6.3% |
| Other operating charges | 640/8 | €757 | €787 | +€30 | +4.0% |
| Gross operating margin | 9900 | €125,046 | €69,272 | -€55,775 | -44.6% |
| Operating profit (loss) | 9901 | €108,219 | €51,398 | -€56,821 | -52.5% |
| Financial income | 75/76B | €75 | - | -€75 | |
| Recurring financial income | 75 | €75 | - | -€75 | |
| Financial charges | 65/66B | €997 | €275 | -€722 | -72.4% |
| Recurring financial charges | 65 | €997 | €275 | -€722 | -72.4% |
| Profit (loss) for the period before taxes | 9903 | €107,297 | €51,123 | -€56,174 | -52.4% |
| Income taxes | 67/77 | €23,288 | €10,276 | -€13,012 | -55.9% |
| Profit (loss) for the period | 9904 | €84,009 | €40,847 | -€43,162 | -51.4% |
| Profit (loss) for the period to be appropriated | 9905 | €84,009 | €40,847 | -€43,162 | -51.4% |
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 29 September 2026 via checked.be.