INCE: 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.
INCE
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+1851.4%), from €60,677 to €1.2m
of which Land and buildings: +€1.1m
- Cash +€316,607
up €316,607 (+173.8%), from €182,125 to €498,732
mainly Debts after one year (+€816,285) and Net result for the year (+€262,687)
- Debts after one year +€816,285
up €816,285 (+6530.3%), from €12,500 to €828,785
- Trade debts +€260,898
up €260,898 (+50.0%), from €521,904 to €782,802
- Reserves +€200,000
up €200,000 (+131.7%), from €151,860 to €351,860
of which Distributable reserves: +€201,860
- Tax, wage and social debts +€91,729
up €91,729 (+76.4%), from €119,987 to €211,716
of which Taxes: +€72,379
- Profit (loss) carried forward +€62,687
up €62,687 (+14.6%), from €428,703 to €491,390
- Financial charges +€45,813
up €45,813 (+19859.0%), from €231 to €46,044
- Write-downs -€29,646
no longer reported in 2024 (was €29,646)
- Taxes -€29,551
down €29,551 (-23.8%), from €124,398 to €94,847
- Gross operating margin +€24,205
up €24,205 (+5.4%), from €451,665 to €475,870
- Depreciation +€19,260
up €19,260 (+43.2%), from €44,550 to €63,811
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,254,248 | €2,716,674 | +€1.5m | +116.6% |
| Fixed assets | 21/28 | €61,613 | €1,184,967 | +€1.1m | +1823.2% |
| Tangible fixed assets | 22/27 | €60,677 | €1,184,032 | +€1.1m | +1851.4% |
| Land and buildings | 22 | - | €1,145,298 | +€1.1m | |
| Plant, machinery and equipment | 23 | €13,062 | €8,222 | -€4,840 | -37.1% |
| Furniture and vehicles | 24 | €47,615 | €30,511 | -€17,104 | -35.9% |
| Financial fixed assets | 28 | €936 | €936 | = | 0.0% |
| Current assets | 29/58 | €1,192,635 | €1,531,706 | +€339,071 | +28.4% |
| Amounts receivable within one year | 40/41 | €1,007,828 | €1,031,166 | +€23,337 | +2.3% |
| Trade receivables | 40 | €998,521 | €1,019,294 | +€20,773 | +2.1% |
| Other amounts receivable | 41 | €9,308 | €11,872 | +€2,564 | +27.6% |
| Cash at bank and in hand | 54/58 | €182,125 | €498,732 | +€316,607 | +173.8% |
| Deferred charges and accrued income | 490/1 | €2,682 | €1,808 | -€874 | -32.6% |
| Total equity and liabilities | 10/49 | €1,254,248 | €2,716,674 | +€1.5m | +116.6% |
| Equity | 10/15 | €599,163 | €861,850 | +€262,687 | +43.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €151,860 | €351,860 | +€200,000 | +131.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €150,000 | €351,860 | +€201,860 | +134.6% |
| Profit (loss) carried forward | 14 | €428,703 | €491,390 | +€62,687 | +14.6% |
| Amounts payable | 17/49 | €655,085 | €1,854,824 | +€1.2m | +183.1% |
| Amounts payable after more than one year | 17 | €12,500 | €828,785 | +€816,285 | +6530.3% |
| Financial debts | 170/4 | €12,500 | €828,785 | +€816,285 | +6530.3% |
| Amounts payable within one year | 42/48 | €642,585 | €1,026,038 | +€383,453 | +59.7% |
| Current portion of amounts payable after more than one year | 42 | - | €27,720 | +€27,720 | |
| Trade debts | 44 | €521,904 | €782,802 | +€260,898 | +50.0% |
| Suppliers | 440/4 | €521,904 | €782,802 | +€260,898 | +50.0% |
| Taxes, remuneration and social security | 45 | €119,987 | €211,716 | +€91,729 | +76.4% |
| Taxes | 450/3 | €119,987 | €192,366 | +€72,379 | +60.3% |
| Remuneration and social security | 454/9 | - | €19,350 | +€19,350 | |
| Other amounts payable | 47/48 | €694 | €3,800 | +€3,106 | +447.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,550 | €63,811 | +€19,260 | +43.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €29,646 | - | -€29,646 | |
| Other operating charges | 640/8 | €102 | €8,486 | +€8,384 | +8236.8% |
| Gross operating margin | 9900 | €451,665 | €475,870 | +€24,205 | +5.4% |
| Operating profit (loss) | 9901 | €377,366 | €403,573 | +€26,207 | +6.9% |
| Financial income | 75/76B | €37 | €4 | -€32 | -88.5% |
| Recurring financial income | 75 | €37 | €4 | -€32 | -88.5% |
| Financial charges | 65/66B | €231 | €46,044 | +€45,813 | +19859.0% |
| Recurring financial charges | 65 | €231 | €46,044 | +€45,813 | +19859.0% |
| Profit (loss) for the period before taxes | 9903 | €377,172 | €357,534 | -€19,638 | -5.2% |
| Income taxes | 67/77 | €124,398 | €94,847 | -€29,551 | -23.8% |
| Profit (loss) for the period | 9904 | €252,775 | €262,687 | +€9,912 | +3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €252,775 | €262,687 | +€9,912 | +3.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.