INGEO: 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.
INGEO
Largest movements
- Cash -€23,528
down €23,528 (-26.0%), from €90,436 to €66,908
mainly Contributions, distributions and other (-€73,290) and Trade debts (-€21,596)
- Tangible fixed assets -€15,783
down €15,783 (-27.2%), from €57,981 to €42,198
of which Furniture and vehicles: -€12,148
- Receivables within one year -€14,283
down €14,283 (-17.8%), from €80,102 to €65,819
of which Trade receivables: -€38,013
- Reserves -€25,000
down €25,000 (-50.0%), from €50,000 to €25,000
- Trade debts -€21,596
down €21,596 (-73.4%), from €29,419 to €7,823
- Debts after one year -€15,504
down €15,504 (-66.6%), from €23,277 to €7,773
- Other debts +€7,690
up €7,690 (+9.5%), from €81,259 to €88,949
- Tax, wage and social debts +€3,702
up €3,702 (+35.4%), from €10,444 to €14,146
of which Remuneration and social security: +€6,108
- Gross operating margin +€10,434
up €10,434 (+14.8%), from €70,732 to €81,166
- Taxes +€4,310
up €4,310 (+35.5%), from €12,127 to €16,437
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 | €231,476 | €177,795 | -€53,681 | -23.2% |
| Fixed assets | 21/28 | €57,981 | €42,198 | -€15,783 | -27.2% |
| Tangible fixed assets | 22/27 | €57,981 | €42,198 | -€15,783 | -27.2% |
| Furniture and vehicles | 24 | €44,569 | €32,421 | -€12,148 | -27.3% |
| Other tangible fixed assets | 26 | €13,412 | €9,777 | -€3,635 | -27.1% |
| Current assets | 29/58 | €173,495 | €135,597 | -€37,898 | -21.8% |
| Amounts receivable within one year | 40/41 | €80,102 | €65,819 | -€14,283 | -17.8% |
| Trade receivables | 40 | €53,102 | €15,089 | -€38,013 | -71.6% |
| Other amounts receivable | 41 | €27,000 | €50,730 | +€23,730 | +87.9% |
| Cash at bank and in hand | 54/58 | €90,436 | €66,908 | -€23,528 | -26.0% |
| Deferred charges and accrued income | 490/1 | €2,957 | €2,870 | -€87 | -2.9% |
| Total equity and liabilities | 10/49 | €231,476 | €177,795 | -€53,681 | -23.2% |
| Equity | 10/15 | €72,120 | €43,600 | -€28,520 | -39.5% |
| Contributions | 10/11 | €20,460 | €18,600 | -€1,860 | -9.1% |
| Reserves | 13 | €50,000 | €25,000 | -€25,000 | -50.0% |
| Distributable reserves | 133 | €50,000 | €25,000 | -€25,000 | -50.0% |
| Profit (loss) carried forward | 14 | €1,660 | - | -€1,660 | |
| Amounts payable | 17/49 | €159,356 | €134,195 | -€25,161 | -15.8% |
| Amounts payable after more than one year | 17 | €23,277 | €7,773 | -€15,504 | -66.6% |
| Financial debts | 170/4 | €23,277 | €7,773 | -€15,504 | -66.6% |
| Amounts payable within one year | 42/48 | €136,079 | €126,422 | -€9,657 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €14,957 | €15,504 | +€547 | +3.7% |
| Trade debts | 44 | €29,419 | €7,823 | -€21,596 | -73.4% |
| Suppliers | 440/4 | €29,419 | €7,823 | -€21,596 | -73.4% |
| Taxes, remuneration and social security | 45 | €10,444 | €14,146 | +€3,702 | +35.4% |
| Taxes | 450/3 | €10,444 | €8,038 | -€2,406 | -23.0% |
| Remuneration and social security | 454/9 | - | €6,108 | +€6,108 | |
| Other amounts payable | 47/48 | €81,259 | €88,949 | +€7,690 | +9.5% |
| Non-recurring operating income | 76A | €100 | - | -€100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,733 | €17,537 | -€196 | -1.1% |
| Other operating charges | 640/8 | €1,655 | €1,672 | +€17 | +1.0% |
| Gross operating margin | 9900 | €70,732 | €81,166 | +€10,434 | +14.8% |
| Operating profit (loss) | 9901 | €51,344 | €61,957 | +€10,613 | +20.7% |
| Financial income | 75/76B | €119 | €558 | +€439 | +368.9% |
| Recurring financial income | 75 | €119 | €558 | +€439 | +368.9% |
| Financial charges | 65/66B | €1,935 | €1,308 | -€627 | -32.4% |
| Recurring financial charges | 65 | €1,935 | €1,308 | -€627 | -32.4% |
| Profit (loss) for the period before taxes | 9903 | €49,528 | €61,207 | +€11,679 | +23.6% |
| Income taxes | 67/77 | €12,127 | €16,437 | +€4,310 | +35.5% |
| Profit (loss) for the period | 9904 | €37,401 | €44,770 | +€7,369 | +19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,401 | €44,770 | +€7,369 | +19.7% |
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 5 October 2026 via checked.be.