INGRID QUINET: what changed
Two financial 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.
INGRID QUINET
Largest movements
- Stocks and contracts -€28,000
down €28,000 (-58.3%), from €48,000 to €20,000
- Receivables within one year -€27,418
down €27,418 (-9.7%), from €283,456 to €256,038
of which Other amounts receivable: -€21,787
- Tangible fixed assets -€16,354
down €16,354 (-22.0%), from €74,167 to €57,814
of which Furniture and vehicles: -€15,597
- Cash +€11,698
up €11,698 (+6.3%), from €186,065 to €197,763
mainly Net result for the year (+€35,943) and Stocks and contracts (+€28,000)
- Profit (loss) carried forward -€30,557
down €30,557 (-6.6%), from €463,686 to €433,129
- Trade debts -€20,030
down €20,030 (-86.3%), from €23,214 to €3,184
- Debts after one year -€11,358
down €11,358 (-29.6%), from €38,377 to €27,019
- Gross operating margin -€88,238
down €88,238 (-56.1%), from €157,229 to €68,990
- Taxes -€20,932
down €20,932 (-62.1%), from €33,718 to €12,786
- Depreciation +€9,141
up €9,141 (+127%), from €7,213 to €16,354
- Other operating charges -€2,613
down €2,613 (-67.7%), from €3,859 to €1,245
- Financial income -€1,836
down €1,836 (-99.0%), from €1,853 to €18
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.
Derived cash bridge
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 | €594,178 | €534,219 | -€59,959 | -10.1% |
| Fixed assets | 21/28 | €74,167 | €57,814 | -€16,354 | -22.0% |
| Tangible fixed assets | 22/27 | €74,167 | €57,814 | -€16,354 | -22.0% |
| Plant, machinery and equipment | 23 | €2,360 | €1,604 | -€757 | -32.1% |
| Furniture and vehicles | 24 | €71,807 | €56,210 | -€15,597 | -21.7% |
| Current assets | 29/58 | €520,011 | €476,405 | -€43,606 | -8.4% |
| Stocks and contracts in progress | 3 | €48,000 | €20,000 | -€28,000 | -58.3% |
| Stocks | 30/36 | €48,000 | €20,000 | -€28,000 | -58.3% |
| Amounts receivable within one year | 40/41 | €283,456 | €256,038 | -€27,418 | -9.7% |
| Trade receivables | 40 | €58,432 | €52,800 | -€5,632 | -9.6% |
| Other amounts receivable | 41 | €225,025 | €203,238 | -€21,787 | -9.7% |
| Cash at bank and in hand | 54/58 | €186,065 | €197,763 | +€11,698 | +6.3% |
| Deferred charges and accrued income | 490/1 | €2,490 | €2,605 | +€115 | +4.6% |
| Total equity and liabilities | 10/49 | €594,178 | €534,219 | -€59,959 | -10.1% |
| Equity | 10/15 | €487,010 | €456,453 | -€30,557 | -6.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €17,124 | €17,124 | = | 0.0% |
| Distributable reserves | 133 | €17,124 | €17,124 | = | 0.0% |
| Profit (loss) carried forward | 14 | €463,686 | €433,129 | -€30,557 | -6.6% |
| Amounts payable | 17/49 | €107,169 | €77,766 | -€29,403 | -27.4% |
| Amounts payable after more than one year | 17 | €38,377 | €27,019 | -€11,358 | -29.6% |
| Financial debts | 170/4 | €38,377 | €27,019 | -€11,358 | -29.6% |
| Amounts payable within one year | 42/48 | €68,791 | €50,747 | -€18,045 | -26.2% |
| Current portion of amounts payable after more than one year | 42 | €19,109 | €21,095 | +€1,985 | +10.4% |
| Trade debts | 44 | €23,214 | €3,184 | -€20,030 | -86.3% |
| Suppliers | 440/4 | €23,214 | €3,184 | -€20,030 | -86.3% |
| Taxes, remuneration and social security | 45 | €26,468 | €26,468 | = | 0.0% |
| Taxes | 450/3 | €26,468 | €26,468 | = | 0.0% |
| Non-recurring operating income | 76A | €11,000 | - | -€11,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,213 | €16,354 | +€9,141 | +127% |
| Other operating charges | 640/8 | €3,859 | €1,245 | -€2,613 | -67.7% |
| Gross operating margin | 9900 | €157,229 | €68,990 | -€88,238 | -56.1% |
| Operating profit (loss) | 9901 | €146,157 | €51,391 | -€94,765 | -64.8% |
| Financial income | 75/76B | €1,853 | €18 | -€1,836 | -99.0% |
| Recurring financial income | 75 | €1,853 | €18 | -€1,836 | -99.0% |
| Financial charges | 65/66B | €2,260 | €2,679 | +€419 | +18.5% |
| Recurring financial charges | 65 | €2,260 | €2,679 | +€419 | +18.5% |
| Profit (loss) for the period before taxes | 9903 | €145,750 | €48,730 | -€97,020 | -66.6% |
| Income taxes | 67/77 | €33,718 | €12,786 | -€20,932 | -62.1% |
| Profit (loss) for the period | 9904 | €112,032 | €35,943 | -€76,088 | -67.9% |
| Profit (loss) for the period to be appropriated | 9905 | €112,032 | €35,943 | -€76,088 | -67.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.