INCANTO: 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.
INCANTO
Largest movements
- Tangible fixed assets -€19,719
down €19,719 (-11.2%), from €176,073 to €156,355
of which Land and buildings: -€12,022
- Cash +€3,714
up €3,714 (+18.8%), from €19,731 to €23,445
mainly Depreciation (+€19,719) and Net result for the year (+€4,121)
- Stocks and contracts -€2,450
down €2,450 (-10.2%), from €24,026 to €21,577
- Current portion of long-term debt -€21,879
down €21,879 (-91.0%), from €24,034 to €2,155
- Reserves +€3,288
up €3,288 (+6.0%), from €54,932 to €58,220
- Depreciation -€6,772
down €6,772 (-25.6%), from €26,491 to €19,719
- Gross operating margin -€5,393
down €5,393 (-13.7%), from €39,471 to €34,078
- Taxes +€903
up €903 (+45.6%), from €1,982 to €2,885
- Financial charges -€461
down €461 (-9.9%), from €4,638 to €4,177
- Financial income +€412
new in 2025: €412
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 | €228,661 | €208,523 | -€20,138 | -8.8% |
| Fixed assets | 21/28 | €176,073 | €156,355 | -€19,719 | -11.2% |
| Tangible fixed assets | 22/27 | €176,073 | €156,355 | -€19,719 | -11.2% |
| Land and buildings | 22 | €157,901 | €145,880 | -€12,022 | -7.6% |
| Plant, machinery and equipment | 23 | €3,086 | €1,941 | -€1,145 | -37.1% |
| Furniture and vehicles | 24 | €15,086 | €8,534 | -€6,552 | -43.4% |
| Current assets | 29/58 | €52,588 | €52,168 | -€419 | -0.8% |
| Stocks and contracts in progress | 3 | €24,026 | €21,577 | -€2,450 | -10.2% |
| Stocks | 30/36 | €24,026 | €21,577 | -€2,450 | -10.2% |
| Amounts receivable within one year | 40/41 | €3,891 | €1,835 | -€2,056 | -52.8% |
| Trade receivables | 40 | €1,873 | €1,835 | -€38 | -2.0% |
| Other amounts receivable | 41 | €2,018 | - | -€2,018 | |
| Cash at bank and in hand | 54/58 | €19,731 | €23,445 | +€3,714 | +18.8% |
| Deferred charges and accrued income | 490/1 | €4,939 | €5,312 | +€373 | +7.6% |
| Total equity and liabilities | 10/49 | €228,661 | €208,523 | -€20,138 | -8.8% |
| Equity | 10/15 | €123,532 | €126,820 | +€3,288 | +2.7% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €54,932 | €58,220 | +€3,288 | +6.0% |
| Distributable reserves | 133 | €54,932 | €58,220 | +€3,288 | +6.0% |
| Amounts payable | 17/49 | €105,129 | €81,703 | -€23,426 | -22.3% |
| Amounts payable after more than one year | 17 | €27,322 | €25,167 | -€2,155 | -7.9% |
| Financial debts | 170/4 | €27,322 | €25,167 | -€2,155 | -7.9% |
| Amounts payable within one year | 42/48 | €77,807 | €56,536 | -€21,271 | -27.3% |
| Current portion of amounts payable after more than one year | 42 | €24,034 | €2,155 | -€21,879 | -91.0% |
| Trade debts | 44 | €7,921 | €7,263 | -€658 | -8.3% |
| Suppliers | 440/4 | €7,921 | €7,263 | -€658 | -8.3% |
| Taxes, remuneration and social security | 45 | €3,875 | €4,097 | +€222 | +5.7% |
| Taxes | 450/3 | €3,875 | €4,097 | +€222 | +5.7% |
| Other amounts payable | 47/48 | €41,977 | €43,021 | +€1,044 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,491 | €19,719 | -€6,772 | -25.6% |
| Other operating charges | 640/8 | €3,558 | €3,589 | +€31 | +0.9% |
| Gross operating margin | 9900 | €39,471 | €34,078 | -€5,393 | -13.7% |
| Operating profit (loss) | 9901 | €9,422 | €10,771 | +€1,349 | +14.3% |
| Financial income | 75/76B | - | €412 | +€412 | |
| Recurring financial income | 75 | - | €412 | +€412 | |
| Financial charges | 65/66B | €4,638 | €4,177 | -€461 | -9.9% |
| Recurring financial charges | 65 | €4,638 | €4,177 | -€461 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €4,784 | €7,006 | +€2,222 | +46.4% |
| Income taxes | 67/77 | €1,982 | €2,885 | +€903 | +45.6% |
| Profit (loss) for the period | 9904 | €2,802 | €4,121 | +€1,319 | +47.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,802 | €4,121 | +€1,319 | +47.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.