INCANDESCENCE: 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.
What changed
INCANDESCENCE
NACE 43.211, General electrical installation work
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€151,582
2024 · €15,141+€136,441
Equity
€870,370
2024 · €863,643+€6,727
Cash
€174,971
2024 · €3,703+€171,268
Balance sheet total
€1.0m
2024 · €923,558+€107,971
Largest movements
Assets
- Cash +€171,268
up €171,268 (+4,626%), from €3,703 to €174,971
mainly Net result for the year (+€151,582) and Receivables within one year (+€68,239)
- Receivables within one year -€68,239
down €68,239 (-8.4%), from €816,822 to €748,582
of which Other amounts receivable: -€60,239
Equity and liabilities
- Current portion of long-term debt +€55,813
new in 2025: €55,813
- Tax, wage and social debts +€48,654
up €48,654 (+133%), from €36,694 to €85,348
Income statement
- Gross operating margin +€188,043
up €188,043 (+1,089%), from €17,261 to €205,304
- Taxes +€48,354
up €48,354 (+244%), from €19,790 to €68,144
- Financial income -€3,465
down €3,465 (-10.4%), from €33,198 to €29,733
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.
Result 2024
€15,141
Gross operating margin
+€188,043
Depreciation
+€164
Other operating charges
-€1,822
Financial income
-€3,465
Financial charges
+€1,876
Taxes
-€48,354
Result 2025
€151,582
raises the resultlowers the result
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.
From operations
+€269,031
Investment
€0
Financing
-€97,763
Cash 2024
€3,703
From operations (derived)
+€269,031
Net result for the year
+€151,582
Receivables after one year
-€2,324
Receivables within one year
+€68,239
Deferred charges and accrued income
-€2,618
Trade debts
+€5,556
Tax, wage and social debts
+€48,654
Accrued charges and deferred income
-€58
Financing
-€97,763
Current portion of long-term debt
+€55,813
Short-term financial debts
-€8,720
Contributions, distributions and other
-€144,855
Cash 2025
€174,971
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €923,558 | €1,031,529 | +€107,971 | +11.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €5,000 | €5,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Land and buildings | 22 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €918,558 | €1,026,529 | +€107,971 | +11.8% |
| Amounts receivable after more than one year | 29 | €96,366 | €98,690 | +€2,324 | +2.4% |
| Other amounts receivable | 291 | €96,366 | €98,690 | +€2,324 | +2.4% |
| Amounts receivable within one year | 40/41 | €816,822 | €748,582 | -€68,239 | -8.4% |
| Trade receivables | 40 | €8,000 | €0 | -€8,000 | -100% |
| Other amounts receivable | 41 | €808,822 | €748,582 | -€60,239 | -7.4% |
| Cash at bank and in hand | 54/58 | €3,703 | €174,971 | +€171,268 | +4,626% |
| Deferred charges and accrued income | 490/1 | €1,668 | €4,286 | +€2,618 | +157% |
| Total equity and liabilities | 10/49 | €923,558 | €1,031,529 | +€107,971 | +11.7% |
| Equity | 10/15 | €863,643 | €870,370 | +€6,727 | +0.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €777,385 | €784,112 | +€6,727 | +0.9% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €774,286 | €781,013 | +€6,727 | +0.9% |
| Profit (loss) carried forward | 14 | €24,758 | €24,758 | = | 0.0% |
| Amounts payable | 17/49 | €59,915 | €161,160 | +€101,245 | +169% |
| Amounts payable after more than one year | 17 | €3,600 | €3,600 | = | 0.0% |
| Other amounts payable | 178/9 | €3,600 | €3,600 | = | 0.0% |
| Amounts payable within one year | 42/48 | €56,074 | €157,377 | +€101,302 | +181% |
| Current portion of amounts payable after more than one year | 42 | - | €55,813 | +€55,813 | |
| Financial debts | 43 | €9,774 | €1,054 | -€8,720 | -89.2% |
| Credit institutions | 430/8 | €9,774 | €1,054 | -€8,720 | -89.2% |
| Trade debts | 44 | €9,606 | €15,162 | +€5,556 | +57.8% |
| Suppliers | 440/4 | €9,606 | €15,162 | +€5,556 | +57.8% |
| Taxes, remuneration and social security | 45 | €36,694 | €85,348 | +€48,654 | +133% |
| Taxes | 450/3 | €36,694 | €85,348 | +€48,654 | +133% |
| Other amounts payable | 47/48 | - | €0 | = | |
| Accrued charges and deferred income | 492/3 | €240 | €183 | -€58 | -24.1% |
| Remuneration, social security and pensions | 62 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €164 | - | -€164 | |
| Other operating charges | 640/8 | €11,442 | €13,264 | +€1,822 | +15.9% |
| Gross operating margin | 9900 | €17,261 | €205,304 | +€188,043 | +1,089% |
| Operating profit (loss) | 9901 | €5,655 | €192,039 | +€186,384 | +3,296% |
| Financial income | 75/76B | €33,198 | €29,733 | -€3,465 | -10.4% |
| Recurring financial income | 75 | €33,198 | €29,733 | -€3,465 | -10.4% |
| Financial charges | 65/66B | €3,923 | €2,046 | -€1,876 | -47.8% |
| Recurring financial charges | 65 | €3,923 | €2,046 | -€1,876 | -47.8% |
| Profit (loss) for the period before taxes | 9903 | €34,931 | €219,726 | +€184,796 | +529% |
| Income taxes | 67/77 | €19,790 | €68,144 | +€48,354 | +244% |
| Profit (loss) for the period | 9904 | €15,141 | €151,582 | +€136,441 | +901% |
| Profit (loss) for the period to be appropriated | 9905 | €15,141 | €151,582 | +€136,441 | +901% |
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 1 November 2026 via checked.be.