VAN INGELGEM GREGORY: 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.
VAN INGELGEM GREGORY
Largest movements
- Tangible fixed assets +€21,378
up €21,378 (+3.2%), from €669,182 to €690,560
of which Furniture and vehicles: +€42,982
- Receivables within one year -€12,639
down €12,639 (-75.1%), from €16,828 to €4,190
- Reserves +€32,000
new in 2025: €32,000
- Other debts -€27,282
down €27,282 (-22.6%), from €120,646 to €93,365
- Current portion of long-term debt +€18,040
up €18,040 (+55.0%), from €32,803 to €50,843
- Profit (loss) carried forward -€13,630
down €13,630 (-44.9%), from €30,345 to €16,715
- Financial charges +€31,856
up €31,856 (+55.9%), from €56,986 to €88,842
- Gross operating margin +€16,364
up €16,364 (+8.6%), from €189,779 to €206,143
- Taxes +€8,752
up €8,752 (+84.6%), from €10,350 to €19,103
- Depreciation +€2,418
up €2,418 (+5.6%), from €43,075 to €45,493
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 | €972,576 | €978,375 | +€5,799 | +0.6% |
| Fixed assets | 21/28 | €669,182 | €690,560 | +€21,378 | +3.2% |
| Tangible fixed assets | 22/27 | €669,182 | €690,560 | +€21,378 | +3.2% |
| Furniture and vehicles | 24 | €16,587 | €59,570 | +€42,982 | +259% |
| Leasing and similar rights | 25 | €652,595 | €630,991 | -€21,604 | -3.3% |
| Current assets | 29/58 | €303,394 | €287,815 | -€15,579 | -5.1% |
| Amounts receivable within one year | 40/41 | €16,828 | €4,190 | -€12,639 | -75.1% |
| Other amounts receivable | 41 | €16,828 | €4,190 | -€12,639 | -75.1% |
| Cash at bank and in hand | 54/58 | €214,565 | €211,625 | -€2,940 | -1.4% |
| Deferred charges and accrued income | 490/1 | €72,000 | €72,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €972,576 | €978,375 | +€5,799 | +0.6% |
| Equity | 10/15 | €123,095 | €141,465 | +€18,370 | +14.9% |
| Contributions | 10/11 | €92,750 | €92,750 | = | 0.0% |
| Reserves | 13 | - | €32,000 | +€32,000 | |
| Distributable reserves | 133 | - | €32,000 | +€32,000 | |
| Profit (loss) carried forward | 14 | €30,345 | €16,715 | -€13,630 | -44.9% |
| Amounts payable | 17/49 | €849,481 | €836,910 | -€12,571 | -1.5% |
| Amounts payable after more than one year | 17 | €692,225 | €686,686 | -€5,538 | -0.8% |
| Financial debts | 170/4 | €692,225 | €686,686 | -€5,538 | -0.8% |
| Amounts payable within one year | 42/48 | €157,257 | €150,224 | -€7,033 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €32,803 | €50,843 | +€18,040 | +55.0% |
| Trade debts | 44 | €3,808 | €3,799 | -€9 | -0.2% |
| Suppliers | 440/4 | €3,808 | €3,799 | -€9 | -0.2% |
| Taxes, remuneration and social security | 45 | - | €2,218 | +€2,218 | |
| Taxes | 450/3 | - | €2,218 | +€2,218 | |
| Other amounts payable | 47/48 | €120,646 | €93,365 | -€27,282 | -22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,075 | €45,493 | +€2,418 | +5.6% |
| Other operating charges | 640/8 | €3,756 | €3,875 | +€119 | +3.2% |
| Non-recurring operating charges | 66A | €46,084 | €1,091 | -€44,993 | -97.6% |
| Gross operating margin | 9900 | €189,779 | €206,143 | +€16,364 | +8.6% |
| Operating profit (loss) | 9901 | €96,865 | €155,685 | +€58,821 | +60.7% |
| Financial income | 75/76B | €816 | €975 | +€159 | +19.4% |
| Recurring financial income | 75 | €816 | €975 | +€159 | +19.4% |
| Financial charges | 65/66B | €56,986 | €88,842 | +€31,856 | +55.9% |
| Recurring financial charges | 65 | €56,986 | €88,842 | +€31,856 | +55.9% |
| Profit (loss) for the period before taxes | 9903 | €40,695 | €67,818 | +€27,123 | +66.6% |
| Income taxes | 67/77 | €10,350 | €19,103 | +€8,752 | +84.6% |
| Profit (loss) for the period | 9904 | €30,345 | €48,715 | +€18,370 | +60.5% |
| Profit (loss) for the period to be appropriated | 9905 | €30,345 | €48,715 | +€18,370 | +60.5% |
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 14 October 2026 via checked.be.