INGENUM: 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.
INGENUM
Largest movements
- Receivables within one year +€52,069
up €52,069 (+42.5%), from €122,456 to €174,525
of which Trade receivables: +€42,456
- Cash +€25,933
up €25,933 (+46.7%), from €55,568 to €81,501
mainly Tax, wage and social debts (+€97,839) and Depreciation (+€31,886)
- Intangible fixed assets -€14,375
down €14,375 (-14.0%), from €102,555 to €88,180
- Tax, wage and social debts +€97,839
up €97,839 (+185.2%), from €52,839 to €150,679
of which Remuneration and social security: +€70,551
- Other debts -€57,836
down €57,836 (-70.5%), from €82,018 to €24,182
- Debts after one year +€21,105
up €21,105 (+21.0%), from €100,383 to €121,488
- Trade debts -€16,432
down €16,432 (-37.3%), from €44,109 to €27,677
- Current portion of long-term debt +€15,992
up €15,992 (+35.9%), from €44,506 to €60,499
- Staff costs +€154,741
up €154,741 (+37.4%), from €413,329 to €568,070
- Gross operating margin +€81,499
up €81,499 (+14.1%), from €578,971 to €660,470
- Taxes -€13,176
down €13,176 (-48.0%), from €27,438 to €14,262
- Financial charges +€8,313
up €8,313 (+47.0%), from €17,677 to €25,990
- Depreciation +€7,094
up €7,094 (+28.6%), from €24,792 to €31,886
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 | €342,456 | €404,639 | +€62,183 | +18.2% |
| Fixed assets | 21/28 | €143,966 | €128,222 | -€15,744 | -10.9% |
| Intangible fixed assets | 21 | €102,555 | €88,180 | -€14,375 | -14.0% |
| Tangible fixed assets | 22/27 | €39,904 | €38,534 | -€1,369 | -3.4% |
| Plant, machinery and equipment | 23 | €30,632 | €29,055 | -€1,577 | -5.1% |
| Furniture and vehicles | 24 | €9,272 | €9,479 | +€207 | +2.2% |
| Financial fixed assets | 28 | €1,508 | €1,508 | = | 0.0% |
| Current assets | 29/58 | €198,489 | €276,417 | +€77,927 | +39.3% |
| Amounts receivable within one year | 40/41 | €122,456 | €174,525 | +€52,069 | +42.5% |
| Trade receivables | 40 | €96,224 | €138,679 | +€42,456 | +44.1% |
| Other amounts receivable | 41 | €26,233 | €35,845 | +€9,613 | +36.6% |
| Cash at bank and in hand | 54/58 | €55,568 | €81,501 | +€25,933 | +46.7% |
| Deferred charges and accrued income | 490/1 | €20,465 | €20,390 | -€75 | -0.4% |
| Total equity and liabilities | 10/49 | €342,456 | €404,639 | +€62,183 | +18.2% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable | 17/49 | €323,856 | €386,039 | +€62,183 | +19.2% |
| Amounts payable after more than one year | 17 | €100,383 | €121,488 | +€21,105 | +21.0% |
| Financial debts | 170/4 | €100,383 | €121,488 | +€21,105 | +21.0% |
| Amounts payable within one year | 42/48 | €223,473 | €263,037 | +€39,564 | +17.7% |
| Current portion of amounts payable after more than one year | 42 | €44,506 | €60,499 | +€15,992 | +35.9% |
| Trade debts | 44 | €44,109 | €27,677 | -€16,432 | -37.3% |
| Suppliers | 440/4 | €44,109 | €27,677 | -€16,432 | -37.3% |
| Taxes, remuneration and social security | 45 | €52,839 | €150,679 | +€97,839 | +185.2% |
| Taxes | 450/3 | €7,312 | €34,600 | +€27,288 | +373.2% |
| Remuneration and social security | 454/9 | €45,527 | €116,079 | +€70,551 | +155.0% |
| Other amounts payable | 47/48 | €82,018 | €24,182 | -€57,836 | -70.5% |
| Accrued charges and deferred income | 492/3 | - | €1,513 | +€1,513 | |
| Remuneration, social security and pensions | 62 | €413,329 | €568,070 | +€154,741 | +37.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,792 | €31,886 | +€7,094 | +28.6% |
| Other operating charges | 640/8 | €1,155 | €752 | -€403 | -34.9% |
| Gross operating margin | 9900 | €578,971 | €660,470 | +€81,499 | +14.1% |
| Operating profit (loss) | 9901 | €139,695 | €59,762 | -€79,932 | -57.2% |
| Financial income | 75/76B | €1,446 | €3,178 | +€1,732 | +119.8% |
| Recurring financial income | 75 | €1,446 | €3,178 | +€1,732 | +119.8% |
| Financial charges | 65/66B | €17,677 | €25,990 | +€8,313 | +47.0% |
| Recurring financial charges | 65 | €17,677 | €25,990 | +€8,313 | +47.0% |
| Profit (loss) for the period before taxes | 9903 | €123,464 | €36,950 | -€86,514 | -70.1% |
| Income taxes | 67/77 | €27,438 | €14,262 | -€13,176 | -48.0% |
| Profit (loss) for the period | 9904 | €96,026 | €22,688 | -€73,338 | -76.4% |
| Profit (loss) for the period to be appropriated | 9905 | €96,026 | €22,688 | -€73,338 | -76.4% |
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 7 October 2026 via checked.be.