INGOTEC: 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.
INGOTEC
Largest movements
- Tangible fixed assets -€34,378
down €34,378 (-8.5%), from €402,946 to €368,568
- Other debts -€39,000
down €39,000 (-46.4%), from €84,000 to €45,000
- Trade debts -€28,006
down €28,006 (-83.0%), from €33,754 to €5,748
- Reserves +€24,627
up €24,627 (+12.1%), from €203,536 to €228,163
- Tax, wage and social debts +€5,928
up €5,928 (+172.0%), from €3,447 to €9,375
- Gross operating margin +€22,297
up €22,297 (+33.5%), from €66,511 to €88,808
- Taxes +€7,161
up €7,161 (+426.2%), from €1,680 to €8,842
- Staff costs -€5,094
down €5,094, from €630 to -€4,464
- Other operating charges -€2,672
down €2,672 (-10.8%), from €24,681 to €22,009
- Depreciation +€1,812
up €1,812 (+5.6%), from €32,566 to €34,378
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 | €458,797 | €420,614 | -€38,183 | -8.3% |
| Fixed assets | 21/28 | €402,946 | €368,568 | -€34,378 | -8.5% |
| Tangible fixed assets | 22/27 | €402,946 | €368,568 | -€34,378 | -8.5% |
| Land and buildings | 22 | €402,946 | €368,568 | -€34,378 | -8.5% |
| Current assets | 29/58 | €55,850 | €52,045 | -€3,805 | -6.8% |
| Amounts receivable within one year | 40/41 | €44,073 | €43,407 | -€666 | -1.5% |
| Trade receivables | 40 | €42,544 | €43,407 | +€863 | +2.0% |
| Other amounts receivable | 41 | €1,529 | - | -€1,529 | |
| Cash at bank and in hand | 54/58 | €11,777 | €8,638 | -€3,139 | -26.7% |
| Total equity and liabilities | 10/49 | €458,797 | €420,614 | -€38,183 | -8.3% |
| Equity | 10/15 | €335,864 | €360,491 | +€24,627 | +7.3% |
| Contributions | 10/11 | €132,328 | €132,328 | = | 0.0% |
| Reserves | 13 | €203,536 | €228,163 | +€24,627 | +12.1% |
| Distributable reserves | 133 | €203,536 | €228,163 | +€24,627 | +12.1% |
| Amounts payable | 17/49 | €122,932 | €60,123 | -€62,810 | -51.1% |
| Amounts payable within one year | 42/48 | €121,200 | €60,123 | -€61,078 | -50.4% |
| Trade debts | 44 | €33,754 | €5,748 | -€28,006 | -83.0% |
| Suppliers | 440/4 | €33,754 | €5,748 | -€28,006 | -83.0% |
| Taxes, remuneration and social security | 45 | €3,447 | €9,375 | +€5,928 | +172.0% |
| Taxes | 450/3 | €3,447 | €9,375 | +€5,928 | +172.0% |
| Other amounts payable | 47/48 | €84,000 | €45,000 | -€39,000 | -46.4% |
| Accrued charges and deferred income | 492/3 | €1,732 | - | -€1,732 | |
| Remuneration, social security and pensions | 62 | €630 | -€4,464 | -€5,094 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,566 | €34,378 | +€1,812 | +5.6% |
| Other operating charges | 640/8 | €24,681 | €22,009 | -€2,672 | -10.8% |
| Gross operating margin | 9900 | €66,511 | €88,808 | +€22,297 | +33.5% |
| Operating profit (loss) | 9901 | €8,634 | €36,885 | +€28,251 | +327.2% |
| Financial charges | 65/66B | €4,553 | €3,416 | -€1,137 | -25.0% |
| Recurring financial charges | 65 | €4,553 | €3,416 | -€1,137 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €4,081 | €33,469 | +€29,388 | +720.2% |
| Income taxes | 67/77 | €1,680 | €8,842 | +€7,161 | +426.2% |
| Profit (loss) for the period | 9904 | €2,400 | €24,627 | +€22,227 | +926.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,400 | €24,627 | +€22,227 | +926.1% |
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 9 October 2026 via checked.be.