Ince Construct: 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.
Ince Construct
Largest movements
- Receivables within one year +€123,742
up €123,742 (+88.1%), from €140,411 to €264,154
of which Trade receivables: +€76,843
- Cash +€19,924
up €19,924 (+54.0%), from €36,892 to €56,817
mainly Trade debts (+€95,148) and Net result for the year (+€26,375)
- Financial fixed assets -€7,050
no longer reported in 2025 (was €7,050)
- Tangible fixed assets +€6,477
up €6,477 (+23.0%), from €28,149 to €34,627
of which Furniture and vehicles: +€16,282
- Trade debts +€95,148
up €95,148 (+911%), from €10,446 to €105,594
- Reserves +€26,000
up €26,000 (+24.7%), from €105,148 to €131,148
- Tax, wage and social debts +€22,954
up €22,954 (+103%), from €22,213 to €45,168
of which Taxes: +€25,096
- Staff costs +€21,253
up €21,253 (+100%), from €21,209 to €42,462
- Gross operating margin -€17,772
down €17,772 (-14.3%), from €124,674 to €106,902
- Other operating charges +€2,593
up €2,593 (+565%), from €459 to €3,053
- Depreciation +€2,118
up €2,118 (+19.6%), from €10,834 to €12,952
- Financial charges -€1,783
down €1,783 (-70.0%), from €2,548 to €764
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 | €212,503 | €356,981 | +€144,478 | +68.0% |
| Fixed assets | 21/28 | €35,199 | €34,627 | -€573 | -1.6% |
| Tangible fixed assets | 22/27 | €28,149 | €34,627 | +€6,477 | +23.0% |
| Land and buildings | 22 | €11,485 | €10,528 | -€957 | -8.3% |
| Plant, machinery and equipment | 23 | €9,752 | €5,943 | -€3,809 | -39.1% |
| Furniture and vehicles | 24 | €1,873 | €18,155 | +€16,282 | +869% |
| Leasing and similar rights | 25 | €5,040 | - | -€5,040 | |
| Financial fixed assets | 28 | €7,050 | - | -€7,050 | |
| Current assets | 29/58 | €177,304 | €322,354 | +€145,051 | +81.8% |
| Amounts receivable within one year | 40/41 | €140,411 | €264,154 | +€123,742 | +88.1% |
| Trade receivables | 40 | €123,740 | €200,582 | +€76,843 | +62.1% |
| Other amounts receivable | 41 | €16,672 | €63,571 | +€46,899 | +281% |
| Cash at bank and in hand | 54/58 | €36,892 | €56,817 | +€19,924 | +54.0% |
| Deferred charges and accrued income | 490/1 | - | €1,384 | +€1,384 | |
| Total equity and liabilities | 10/49 | €212,503 | €356,981 | +€144,478 | +68.0% |
| Equity | 10/15 | €173,761 | €200,136 | +€26,375 | +15.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €105,148 | €131,148 | +€26,000 | +24.7% |
| Distributable reserves | 133 | €105,148 | €131,148 | +€26,000 | +24.7% |
| Profit (loss) carried forward | 14 | €58,613 | €58,989 | +€375 | +0.6% |
| Amounts payable | 17/49 | €38,742 | €156,844 | +€118,102 | +305% |
| Amounts payable within one year | 42/48 | €38,742 | €156,844 | +€118,102 | +305% |
| Current portion of amounts payable after more than one year | 42 | €6,083 | €6,083 | = | 0.0% |
| Trade debts | 44 | €10,446 | €105,594 | +€95,148 | +911% |
| Suppliers | 440/4 | €10,446 | €105,594 | +€95,148 | +911% |
| Taxes, remuneration and social security | 45 | €22,213 | €45,168 | +€22,954 | +103% |
| Taxes | 450/3 | €19,082 | €44,178 | +€25,096 | +132% |
| Remuneration and social security | 454/9 | €3,131 | €990 | -€2,141 | -68.4% |
| Remuneration, social security and pensions | 62 | €21,209 | €42,462 | +€21,253 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,834 | €12,952 | +€2,118 | +19.6% |
| Other operating charges | 640/8 | €459 | €3,053 | +€2,593 | +565% |
| Gross operating margin | 9900 | €124,674 | €106,902 | -€17,772 | -14.3% |
| Operating profit (loss) | 9901 | €92,172 | €48,435 | -€43,737 | -47.5% |
| Financial income | 75/76B | - | €425 | +€425 | |
| Recurring financial income | 75 | - | €425 | +€425 | |
| Financial charges | 65/66B | €2,548 | €764 | -€1,783 | -70.0% |
| Recurring financial charges | 65 | €2,548 | €764 | -€1,783 | -70.0% |
| Profit (loss) for the period before taxes | 9903 | €89,625 | €48,096 | -€41,528 | -46.3% |
| Income taxes | 67/77 | €23,266 | €21,721 | -€1,545 | -6.6% |
| Profit (loss) for the period | 9904 | €66,359 | €26,375 | -€39,984 | -60.3% |
| Profit (loss) for the period to be appropriated | 9905 | €66,359 | €26,375 | -€39,984 | -60.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.