INGEXP: what changed
INGEXP
Largest movements
- Receivables within one year +€37,394
up €37,394 (+114%), from €32,845 to €70,239
of which Trade receivables: +€28,928
- Cash -€18,688
down €18,688 (-33.9%), from €55,080 to €36,392
mainly Receivables within one year (-€37,394) and Contributions, distributions and other (-€35,199)
- Tangible fixed assets -€6,674
down €6,674 (-6.9%), from €96,035 to €89,361
of which Land and buildings: -€8,217
- Debts after one year -€23,136
down €23,136 (-20.8%), from €111,263 to €88,127
of which Financial debts: -€24,916
- Trade debts +€19,327
up €19,327 (+203%), from €9,499 to €28,826
- Other debts +€8,004
up €8,004 (+36.5%), from €21,945 to €29,949
- Tax, wage and social debts +€5,006
up €5,006 (+26.6%), from €18,808 to €23,814
- Gross operating margin -€6,300
down €6,300 (-6.2%), from €101,494 to €95,194
- Taxes -€3,843
down €3,843 (-16.4%), from €23,423 to €19,581
- Financial charges +€2,168
up €2,168 (+36.3%), from €5,969 to €8,137
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €299,779 | €309,141 | +€9,362 | +3.1% |
| Fixed assets | 21/28 | €197,748 | €190,024 | -€7,724 | -3.9% |
| Tangible fixed assets | 22/27 | €96,035 | €89,361 | -€6,674 | -6.9% |
| Land and buildings | 22 | €77,637 | €69,420 | -€8,217 | -10.6% |
| Furniture and vehicles | 24 | €10,206 | €8,727 | -€1,480 | -14.5% |
| Leasing and similar rights | 25 | €7,974 | €11,051 | +€3,077 | +38.6% |
| Other tangible fixed assets | 26 | €218 | €163 | -€54 | -25.0% |
| Financial fixed assets | 28 | €101,713 | €100,663 | -€1,050 | -1.0% |
| Current assets | 29/58 | €102,031 | €119,117 | +€17,086 | +16.7% |
| Amounts receivable after more than one year | 29 | €4,000 | €2,500 | -€1,500 | -37.5% |
| Other amounts receivable | 291 | €4,000 | €2,500 | -€1,500 | -37.5% |
| Amounts receivable within one year | 40/41 | €32,845 | €70,239 | +€37,394 | +114% |
| Trade receivables | 40 | €23,565 | €52,493 | +€28,928 | +123% |
| Other amounts receivable | 41 | €9,281 | €17,746 | +€8,466 | +91.2% |
| Cash at bank and in hand | 54/58 | €55,080 | €36,392 | -€18,688 | -33.9% |
| Deferred charges and accrued income | 490/1 | €10,105 | €9,986 | -€119 | -1.2% |
| Total equity and liabilities | 10/49 | €299,779 | €309,141 | +€9,362 | +3.1% |
| Equity | 10/15 | €101,302 | €100,534 | -€768 | -0.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €95,102 | €94,334 | -€768 | -0.8% |
| Distributable reserves | 133 | €95,102 | €94,334 | -€768 | -0.8% |
| Amounts payable | 17/49 | €198,478 | €208,608 | +€10,130 | +5.1% |
| Amounts payable after more than one year | 17 | €111,263 | €88,127 | -€23,136 | -20.8% |
| Financial debts | 170/4 | €111,263 | €86,347 | -€24,916 | -22.4% |
| Other amounts payable | 178/9 | - | €1,780 | +€1,780 | |
| Amounts payable within one year | 42/48 | €87,215 | €120,481 | +€33,266 | +38.1% |
| Current portion of amounts payable after more than one year | 42 | €36,963 | €37,892 | +€929 | +2.5% |
| Trade debts | 44 | €9,499 | €28,826 | +€19,327 | +203% |
| Suppliers | 440/4 | €9,499 | €28,826 | +€19,327 | +203% |
| Taxes, remuneration and social security | 45 | €18,808 | €23,814 | +€5,006 | +26.6% |
| Taxes | 450/3 | €18,808 | €23,814 | +€5,006 | +26.6% |
| Other amounts payable | 47/48 | €21,945 | €29,949 | +€8,004 | +36.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,357 | €26,836 | -€521 | -1.9% |
| Other operating charges | 640/8 | €3,294 | €3,260 | -€35 | -1.0% |
| Non-recurring operating charges | 66A | - | €2,965 | +€2,965 | |
| Gross operating margin | 9900 | €101,494 | €95,194 | -€6,300 | -6.2% |
| Operating profit (loss) | 9901 | €70,842 | €62,133 | -€8,709 | -12.3% |
| Financial income | 75/76B | €44 | €15 | -€29 | -66.2% |
| Recurring financial income | 75 | €44 | €15 | -€29 | -66.2% |
| Financial charges | 65/66B | €5,969 | €8,137 | +€2,168 | +36.3% |
| Recurring financial charges | 65 | €5,969 | €8,137 | +€2,168 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | €64,918 | €54,012 | -€10,906 | -16.8% |
| Income taxes | 67/77 | €23,423 | €19,581 | -€3,843 | -16.4% |
| Profit (loss) for the period | 9904 | €41,494 | €34,431 | -€7,064 | -17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €41,494 | €34,431 | -€7,064 | -17.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.