INCEL SOLUTIONS: 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.
INCEL SOLUTIONS
Largest movements
- Cash +€51,776
up €51,776 (+69.1%), from €74,936 to €126,712
mainly Net result for the year (+€105,077) and Tax, wage and social debts (+€9,372)
- Receivables within one year +€2,527
up €2,527 (+14.7%), from €17,132 to €19,658
of which Trade receivables: +€3,323
- Reserves +€29,946
up €29,946 (+39.9%), from €75,132 to €105,077
- Tax, wage and social debts +€9,372
up €9,372 (+56.5%), from €16,598 to €25,969
- Other debts +€8,802
new in 2025: €8,802
- Trade debts +€6,819
up €6,819 (+5944.4%), from €115 to €6,934
- Gross operating margin +€110,372
up €110,372 (+436.1%), from €25,308 to €135,681
- Taxes +€24,044
up €24,044 (+506.7%), from €4,745 to €28,789
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.
Cash bridge derived
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 | €93,844 | €148,782 | +€54,938 | +58.5% |
| Fixed assets | 21/28 | €1,380 | €1,306 | -€74 | -5.3% |
| Tangible fixed assets | 22/27 | €1,380 | €1,306 | -€74 | -5.3% |
| Furniture and vehicles | 24 | €1,380 | €1,306 | -€74 | -5.3% |
| Current assets | 29/58 | €92,464 | €147,476 | +€55,012 | +59.5% |
| Amounts receivable within one year | 40/41 | €17,132 | €19,658 | +€2,527 | +14.7% |
| Trade receivables | 40 | €16,335 | €19,658 | +€3,323 | +20.3% |
| Other amounts receivable | 41 | €797 | €0 | -€797 | -100.0% |
| Cash at bank and in hand | 54/58 | €74,936 | €126,712 | +€51,776 | +69.1% |
| Deferred charges and accrued income | 490/1 | €396 | €1,105 | +€709 | +179.1% |
| Total equity and liabilities | 10/49 | €93,844 | €148,782 | +€54,938 | +58.5% |
| Equity | 10/15 | €77,132 | €107,077 | +€29,946 | +38.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €75,132 | €105,077 | +€29,946 | +39.9% |
| Distributable reserves | 133 | €75,132 | €105,077 | +€29,946 | +39.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €16,713 | €41,705 | +€24,993 | +149.5% |
| Amounts payable within one year | 42/48 | €16,713 | €41,705 | +€24,993 | +149.5% |
| Trade debts | 44 | €115 | €6,934 | +€6,819 | +5944.4% |
| Suppliers | 440/4 | €115 | €6,934 | +€6,819 | +5944.4% |
| Taxes, remuneration and social security | 45 | €16,598 | €25,969 | +€9,372 | +56.5% |
| Taxes | 450/3 | €16,598 | €25,969 | +€9,372 | +56.5% |
| Other amounts payable | 47/48 | - | €8,802 | +€8,802 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,566 | €1,260 | -€306 | -19.6% |
| Other operating charges | 640/8 | €790 | €400 | -€391 | -49.4% |
| Gross operating margin | 9900 | €25,308 | €135,681 | +€110,372 | +436.1% |
| Operating profit (loss) | 9901 | €22,952 | €134,021 | +€111,070 | +483.9% |
| Financial income | 75/76B | €215 | €0 | -€215 | -100.0% |
| Recurring financial income | 75 | €215 | €0 | -€215 | -100.0% |
| Financial charges | 65/66B | €147 | €155 | +€8 | +5.6% |
| Recurring financial charges | 65 | €147 | €155 | +€8 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €23,019 | €133,866 | +€110,847 | +481.5% |
| Income taxes | 67/77 | €4,745 | €28,789 | +€24,044 | +506.7% |
| Profit (loss) for the period | 9904 | €18,274 | €105,077 | +€86,803 | +475.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,274 | €105,077 | +€86,803 | +475.0% |
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 9 October 2026 via checked.be.