Ingenix: 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.
Ingenix
Largest movements
- Intangible fixed assets +€147,312
up €147,312 (+148%), from €99,358 to €246,670
- Tangible fixed assets -€65,863
down €65,863 (-4.4%), from €1.5m to €1.4m
of which Land and buildings: -€55,404
- Cash +€31,421
up €31,421 (+35.1%), from €89,443 to €120,865
mainly Depreciation (+€162,630) and Net result for the year (+€131,271)
- Reserves +€131,271
up €131,271 (+69.9%), from €187,678 to €318,949
- Debts after one year -€85,662
down €85,662 (-7.0%), from €1.2m to €1.1m
- Investment grants +€41,233
new in 2025: €41,233
- Current portion of long-term debt +€30,434
up €30,434 (+34.0%), from €89,411 to €119,845
- Staff costs -€110,060
down €110,060 (-11.6%), from €948,133 to €838,073
- Gross operating margin +€99,357
up €99,357 (+8.7%), from €1.1m to €1.2m
- Taxes +€64,304
up €64,304 (+1,353%), from €4,754 to €69,058
- Depreciation +€45,455
up €45,455 (+38.8%), from €117,175 to €162,630
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 | €2,041,651 | €2,172,193 | +€130,542 | +6.4% |
| Fixed assets | 21/28 | €1,599,900 | €1,681,419 | +€81,519 | +5.1% |
| Intangible fixed assets | 21 | €99,358 | €246,670 | +€147,312 | +148% |
| Tangible fixed assets | 22/27 | €1,500,117 | €1,434,255 | -€65,863 | -4.4% |
| Land and buildings | 22 | €1,119,013 | €1,063,609 | -€55,404 | -5.0% |
| Plant, machinery and equipment | 23 | €350,679 | €323,282 | -€27,397 | -7.8% |
| Furniture and vehicles | 24 | €30,425 | €47,363 | +€16,938 | +55.7% |
| Financial fixed assets | 28 | €425 | €495 | +€70 | +16.5% |
| Current assets | 29/58 | €441,751 | €490,774 | +€49,023 | +11.1% |
| Amounts receivable within one year | 40/41 | €332,895 | €348,794 | +€15,899 | +4.8% |
| Trade receivables | 40 | €322,300 | €333,144 | +€10,844 | +3.4% |
| Other amounts receivable | 41 | €10,595 | €15,650 | +€5,055 | +47.7% |
| Cash at bank and in hand | 54/58 | €89,443 | €120,865 | +€31,421 | +35.1% |
| Deferred charges and accrued income | 490/1 | €19,413 | €21,115 | +€1,702 | +8.8% |
| Total equity and liabilities | 10/49 | €2,041,651 | €2,172,193 | +€130,542 | +6.4% |
| Equity | 10/15 | €194,878 | €367,381 | +€172,503 | +88.5% |
| Contributions | 10/11 | €7,200 | €7,200 | = | 0.0% |
| Reserves | 13 | €187,678 | €318,949 | +€131,271 | +69.9% |
| Distributable reserves | 133 | €187,678 | €318,949 | +€131,271 | +69.9% |
| Investment grants | 15 | - | €41,233 | +€41,233 | |
| Provisions and deferred taxes | 16 | - | €13,744 | +€13,744 | |
| Deferred taxes | 168 | - | €13,744 | +€13,744 | |
| Amounts payable | 17/49 | €1,846,773 | €1,791,067 | -€55,705 | -3.0% |
| Amounts payable after more than one year | 17 | €1,224,413 | €1,138,751 | -€85,662 | -7.0% |
| Financial debts | 170/4 | €1,224,413 | €1,138,751 | -€85,662 | -7.0% |
| Amounts payable within one year | 42/48 | €614,812 | €645,050 | +€30,238 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €89,411 | €119,845 | +€30,434 | +34.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €295,596 | €288,198 | -€7,398 | -2.5% |
| Suppliers | 440/4 | €295,596 | €288,198 | -€7,398 | -2.5% |
| Taxes, remuneration and social security | 45 | €229,094 | €235,867 | +€6,773 | +3.0% |
| Taxes | 450/3 | €49,515 | €87,020 | +€37,505 | +75.7% |
| Remuneration and social security | 454/9 | €179,579 | €148,847 | -€30,732 | -17.1% |
| Other amounts payable | 47/48 | €711 | €1,141 | +€429 | +60.3% |
| Accrued charges and deferred income | 492/3 | €7,548 | €7,266 | -€282 | -3.7% |
| Remuneration, social security and pensions | 62 | €948,133 | €838,073 | -€110,060 | -11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,175 | €162,630 | +€45,455 | +38.8% |
| Other operating charges | 640/8 | €2,369 | €6,940 | +€4,570 | +193% |
| Non-recurring operating charges | 66A | €30 | €0 | -€30 | -100% |
| Gross operating margin | 9900 | €1,141,311 | €1,240,669 | +€99,357 | +8.7% |
| Operating profit (loss) | 9901 | €73,603 | €233,026 | +€159,422 | +217% |
| Financial income | 75/76B | €290 | €10,310 | +€10,019 | +3,449% |
| Recurring financial income | 75 | €290 | €10,310 | +€10,019 | +3,449% |
| Financial charges | 65/66B | €48,256 | €46,443 | -€1,813 | -3.8% |
| Recurring financial charges | 65 | €48,256 | €46,443 | -€1,813 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €25,638 | €196,892 | +€171,254 | +668% |
| Transfer from deferred taxes | 780 | - | €3,436 | +€3,436 | |
| Income taxes | 67/77 | €4,754 | €69,058 | +€64,304 | +1,353% |
| Profit (loss) for the period | 9904 | €20,884 | €131,271 | +€110,386 | +529% |
| Profit (loss) for the period to be appropriated | 9905 | €20,884 | €131,271 | +€110,386 | +529% |
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 17 October 2026 via checked.be.