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
- Financial fixed assets +€2.9m
up €2.9m (+2136238.5%), from €135 to €2.9m
- Current investments -€502,166
down €502,166 (-100.0%), from €502,166 to €0
- Receivables within one year +€476,328
up €476,328 (+71.6%), from €664,995 to €1.1m
of which Other amounts receivable: +€478,726
- Intangible fixed assets +€329,606
up €329,606 (+14408.6%), from €2,288 to €331,894
- Tangible fixed assets +€253,281
up €253,281 (+125.5%), from €201,804 to €455,085
- Debts after one year +€2.2m
up €2.2m (+14369.1%), from €15,596 to €2.3m
of which Other amounts payable: +€2.2m
- Other debts +€882,706
new in 2025: €882,706
- Trade debts +€239,734
up €239,734 (+261.7%), from €91,599 to €331,333
- Reserves +€114,598
up €114,598 (+9.5%), from €1.2m to €1.3m
of which Distributable reserves: +€114,598
- Tax, wage and social debts +€62,674
up €62,674 (+47.8%), from €131,253 to €193,927
of which Taxes: +€51,600
- Staff costs +€482,188
up €482,188 (+127.8%), from €377,201 to €859,389
- Gross operating margin +€470,294
up €470,294 (+58.4%), from €805,968 to €1.3m
- Depreciation +€101,291
up €101,291 (+85.2%), from €118,839 to €220,130
- Financial income +€35,416
up €35,416 (+390.8%), from €9,062 to €44,478
- Financial charges +€30,747
up €30,747 (+2940.7%), from €1,046 to €31,792
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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,485,189 | €5,039,759 | +€3.6m | +239.3% |
| Fixed assets | 21/28 | €204,227 | €3,671,036 | +€3.5m | +1697.5% |
| Intangible fixed assets | 21 | €2,288 | €331,894 | +€329,606 | +14408.6% |
| Tangible fixed assets | 22/27 | €201,804 | €455,085 | +€253,281 | +125.5% |
| Land and buildings | 22 | - | €8,081 | +€8,081 | |
| Plant, machinery and equipment | 23 | €59,005 | €106,757 | +€47,752 | +80.9% |
| Furniture and vehicles | 24 | €142,799 | €218,661 | +€75,863 | +53.1% |
| Leasing and similar rights | 25 | - | €48,215 | +€48,215 | |
| Other tangible fixed assets | 26 | - | €73,370 | +€73,370 | |
| Financial fixed assets | 28 | €135 | €2,884,057 | +€2.9m | +2136238.5% |
| Current assets | 29/58 | €1,280,963 | €1,368,723 | +€87,760 | +6.9% |
| Stocks and contracts in progress | 3 | €18,000 | €0 | -€18,000 | -100.0% |
| Stocks | 30/36 | €18,000 | €0 | -€18,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €664,995 | €1,141,323 | +€476,328 | +71.6% |
| Trade receivables | 40 | €404,913 | €402,515 | -€2,398 | -0.6% |
| Other amounts receivable | 41 | €260,082 | €738,808 | +€478,726 | +184.1% |
| Current investments | 50/53 | €502,166 | €0 | -€502,166 | -100.0% |
| Cash at bank and in hand | 54/58 | €87,486 | €202,006 | +€114,521 | +130.9% |
| Deferred charges and accrued income | 490/1 | €8,317 | €25,393 | +€17,076 | +205.3% |
| Total equity and liabilities | 10/49 | €1,485,189 | €5,039,759 | +€3.6m | +239.3% |
| Equity | 10/15 | €1,209,809 | €1,323,944 | +€114,135 | +9.4% |
| Contributions | 10/11 | €2,046 | €2,046 | = | 0.0% |
| Reserves | 13 | €1,207,300 | €1,321,898 | +€114,598 | +9.5% |
| Non-distributable reserves | 130/1 | €17,300 | €17,300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €17,300 | €17,300 | = | 0.0% |
| Distributable reserves | 133 | €1,190,000 | €1,304,598 | +€114,598 | +9.6% |
| Profit (loss) carried forward | 14 | €463 | €0 | -€463 | -100.0% |
| Amounts payable | 17/49 | €275,380 | €3,715,815 | +€3.4m | +1249.3% |
| Amounts payable after more than one year | 17 | €15,596 | €2,256,564 | +€2.2m | +14369.1% |
| Financial debts | 170/4 | €15,596 | €58,856 | +€43,260 | +277.4% |
| Other amounts payable | 178/9 | - | €2,197,707 | +€2.2m | |
| Amounts payable within one year | 42/48 | €258,920 | €1,459,251 | +€1.2m | +463.6% |
| Current portion of amounts payable after more than one year | 42 | €36,069 | €36,777 | +€708 | +2.0% |
| Financial debts | 43 | - | €897 | +€897 | |
| Credit institutions | 430/8 | - | €897 | +€897 | |
| Trade debts | 44 | €91,599 | €331,333 | +€239,734 | +261.7% |
| Suppliers | 440/4 | €91,599 | €331,333 | +€239,734 | +261.7% |
| Advances received on contracts in progress | 46 | - | €13,611 | +€13,611 | |
| Taxes, remuneration and social security | 45 | €131,253 | €193,927 | +€62,674 | +47.8% |
| Taxes | 450/3 | €73,717 | €125,317 | +€51,600 | +70.0% |
| Remuneration and social security | 454/9 | €57,535 | €68,610 | +€11,074 | +19.2% |
| Other amounts payable | 47/48 | - | €882,706 | +€882,706 | |
| Accrued charges and deferred income | 492/3 | €864 | €0 | -€864 | -100.0% |
| Non-recurring operating income | 76A | - | €11,652 | +€11,652 | |
| Remuneration, social security and pensions | 62 | €377,201 | €859,389 | +€482,188 | +127.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,839 | €220,130 | +€101,291 | +85.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,184 | -€2,459 | -€5,644 | |
| Other operating charges | 640/8 | €2,693 | €6,019 | +€3,326 | +123.5% |
| Non-recurring operating charges | 66A | - | €15,307 | +€15,307 | |
| Gross operating margin | 9900 | €805,968 | €1,276,262 | +€470,294 | +58.4% |
| Operating profit (loss) | 9901 | €304,050 | €177,875 | -€126,175 | -41.5% |
| Financial income | 75/76B | €9,062 | €44,478 | +€35,416 | +390.8% |
| Recurring financial income | 75 | €9,062 | €44,478 | +€35,416 | +390.8% |
| Financial charges | 65/66B | €1,046 | €31,792 | +€30,747 | +2940.7% |
| Recurring financial charges | 65 | €1,046 | €31,792 | +€30,747 | +2940.7% |
| Profit (loss) for the period before taxes | 9903 | €312,067 | €190,561 | -€121,506 | -38.9% |
| Income taxes | 67/77 | €77,555 | €76,426 | -€1,128 | -1.5% |
| Profit (loss) for the period | 9904 | €234,512 | €114,135 | -€120,378 | -51.3% |
| Profit (loss) for the period to be appropriated | 9905 | €234,512 | €114,135 | -€120,378 | -51.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.