INGENTIEF: 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.
INGENTIEF
Largest movements
- Receivables within one year +€29,447
up €29,447 (+99.6%), from €29,570 to €59,017
of which Trade receivables: +€20,570
- Cash +€16,247
up €16,247 (+198%), from €8,212 to €24,459
mainly Net result for the year (+€130,770) and Tax, wage and social debts (+€7,580)
- Reserves +€130,800
up €130,800 (+131%), from €99,688 to €230,488
of which Distributable reserves: +€130,800
- Debts after one year -€83,834
down €83,834 (-6.6%), from €1.3m to €1.2m
- Financial income +€65,000
new in 2025: €65,000
- Gross operating margin +€4,134
up €4,134 (+3.0%), from €138,637 to €142,771
- Financial charges -€3,653
down €3,653 (-6.7%), from €54,609 to €50,956
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 | €1,532,752 | €1,576,931 | +€44,179 | +2.9% |
| Fixed assets | 21/28 | €1,493,808 | €1,492,261 | -€1,547 | -0.1% |
| Tangible fixed assets | 22/27 | €3,808 | €2,261 | -€1,547 | -40.6% |
| Plant, machinery and equipment | 23 | €179 | €64 | -€115 | -64.3% |
| Furniture and vehicles | 24 | €3,630 | €2,197 | -€1,432 | -39.5% |
| Financial fixed assets | 28 | €1,490,000 | €1,490,000 | = | 0.0% |
| Current assets | 29/58 | €38,944 | €84,670 | +€45,726 | +117% |
| Amounts receivable within one year | 40/41 | €29,570 | €59,017 | +€29,447 | +99.6% |
| Trade receivables | 40 | €20,570 | €41,140 | +€20,570 | +100% |
| Other amounts receivable | 41 | €9,000 | €17,877 | +€8,877 | +98.6% |
| Cash at bank and in hand | 54/58 | €8,212 | €24,459 | +€16,247 | +198% |
| Deferred charges and accrued income | 490/1 | €1,162 | €1,195 | +€33 | +2.8% |
| Total equity and liabilities | 10/49 | €1,532,752 | €1,576,931 | +€44,179 | +2.9% |
| Equity | 10/15 | €100,740 | €231,510 | +€130,770 | +130% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €99,688 | €230,488 | +€130,800 | +131% |
| Tax-exempt reserves | 132 | €88 | €88 | = | 0.0% |
| Distributable reserves | 133 | €99,600 | €230,400 | +€130,800 | +131% |
| Profit (loss) carried forward | 14 | €52 | €22 | -€30 | -57.4% |
| Amounts payable | 17/49 | €1,432,012 | €1,345,421 | -€86,591 | -6.0% |
| Amounts payable after more than one year | 17 | €1,270,909 | €1,187,075 | -€83,834 | -6.6% |
| Financial debts | 170/4 | €1,270,909 | €1,187,075 | -€83,834 | -6.6% |
| Amounts payable within one year | 42/48 | €145,315 | €152,897 | +€7,582 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €86,625 | €90,650 | +€4,025 | +4.6% |
| Financial debts | 43 | €8 | €10 | +€2 | +21.7% |
| Other loans | 439 | €8 | €10 | +€2 | +21.7% |
| Trade debts | 44 | €946 | €94 | -€852 | -90.1% |
| Suppliers | 440/4 | €946 | €94 | -€852 | -90.1% |
| Taxes, remuneration and social security | 45 | €11,678 | €19,258 | +€7,580 | +64.9% |
| Taxes | 450/3 | €11,678 | €19,258 | +€7,580 | +64.9% |
| Other amounts payable | 47/48 | €46,058 | €42,886 | -€3,172 | -6.9% |
| Accrued charges and deferred income | 492/3 | €15,788 | €5,449 | -€10,339 | -65.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,881 | €1,547 | -€334 | -17.8% |
| Other operating charges | 640/8 | €1,756 | €1,935 | +€180 | +10.2% |
| Gross operating margin | 9900 | €138,637 | €142,771 | +€4,134 | +3.0% |
| Operating profit (loss) | 9901 | €135,000 | €139,288 | +€4,289 | +3.2% |
| Financial income | 75/76B | - | €65,000 | +€65,000 | |
| Recurring financial income | 75 | - | €65,000 | +€65,000 | |
| Financial charges | 65/66B | €54,609 | €50,956 | -€3,653 | -6.7% |
| Recurring financial charges | 65 | €54,609 | €50,956 | -€3,653 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €80,390 | €153,332 | +€72,942 | +90.7% |
| Income taxes | 67/77 | €22,560 | €22,562 | +€2 | 0.0% |
| Profit (loss) for the period | 9904 | €57,831 | €130,770 | +€72,939 | +126% |
| Profit (loss) for the period to be appropriated | 9905 | €57,831 | €130,770 | +€72,939 | +126% |
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.