INCENDIUM: 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.
INCENDIUM
Largest movements
- Cash +€12,653
up €12,653 (+955.6%), from €1,324 to €13,977
mainly Net result for the year (+€19,796) and Depreciation (+€10,764)
- Tangible fixed assets -€5,977
down €5,977 (-7.0%), from €85,894 to €79,916
of which Land and buildings: -€6,606
- Receivables within one year -€3,892
down €3,892 (-40.3%), from €9,652 to €5,760
of which Trade receivables: -€3,037
- Deferred charges and accrued income +€3,123
up €3,123 (+179.7%), from €1,737 to €4,860
- Receivables after one year -€2,000
down €2,000 (-14.3%), from €14,000 to €12,000
- Reserves +€18,963
up €18,963 (+43.0%), from €44,100 to €63,063
- Debts after one year -€8,727
down €8,727 (-36.7%), from €23,760 to €15,033
- Tax, wage and social debts -€4,319
down €4,319 (-37.5%), from €11,503 to €7,184
- Trade debts -€2,046
down €2,046 (-62.1%), from €3,294 to €1,248
- Advances received -€1,600
down €1,600 (-100.0%), from €1,600 to €0
- Gross operating margin +€9,562
up €9,562 (+28.9%), from €33,029 to €42,590
- Taxes +€2,357
up €2,357 (+33.8%), from €6,975 to €9,332
- Financial charges -€1,105
down €1,105 (-31.8%), from €3,469 to €2,364
- Other operating charges -€857
down €857 (-59.1%), from €1,450 to €593
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 | €112,973 | €116,512 | +€3,540 | +3.1% |
| Fixed assets | 21/28 | €86,260 | €79,916 | -€6,344 | -7.4% |
| Intangible fixed assets | 21 | €366 | €0 | -€366 | -100.0% |
| Tangible fixed assets | 22/27 | €85,894 | €79,916 | -€5,977 | -7.0% |
| Land and buildings | 22 | €74,526 | €67,919 | -€6,606 | -8.9% |
| Plant, machinery and equipment | 23 | €3,425 | €2,818 | -€607 | -17.7% |
| Furniture and vehicles | 24 | €7,943 | €9,179 | +€1,236 | +15.6% |
| Current assets | 29/58 | €26,713 | €36,596 | +€9,883 | +37.0% |
| Amounts receivable after more than one year | 29 | €14,000 | €12,000 | -€2,000 | -14.3% |
| Other amounts receivable | 291 | €14,000 | €12,000 | -€2,000 | -14.3% |
| Amounts receivable within one year | 40/41 | €9,652 | €5,760 | -€3,892 | -40.3% |
| Trade receivables | 40 | €6,796 | €3,760 | -€3,037 | -44.7% |
| Other amounts receivable | 41 | €2,855 | €2,000 | -€855 | -30.0% |
| Cash at bank and in hand | 54/58 | €1,324 | €13,977 | +€12,653 | +955.6% |
| Deferred charges and accrued income | 490/1 | €1,737 | €4,860 | +€3,123 | +179.7% |
| Total equity and liabilities | 10/49 | €112,973 | €116,512 | +€3,540 | +3.1% |
| Equity | 10/15 | €62,700 | €81,663 | +€18,963 | +30.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,100 | €63,063 | +€18,963 | +43.0% |
| Distributable reserves | 133 | €44,100 | €63,063 | +€18,963 | +43.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €50,273 | €34,849 | -€15,424 | -30.7% |
| Amounts payable after more than one year | 17 | €23,760 | €15,033 | -€8,727 | -36.7% |
| Financial debts | 170/4 | €23,760 | €15,033 | -€8,727 | -36.7% |
| Amounts payable within one year | 42/48 | €25,729 | €19,342 | -€6,388 | -24.8% |
| Current portion of amounts payable after more than one year | 42 | €8,731 | €8,727 | -€4 | 0.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €3,294 | €1,248 | -€2,046 | -62.1% |
| Suppliers | 440/4 | €3,294 | €1,248 | -€2,046 | -62.1% |
| Advances received on contracts in progress | 46 | €1,600 | €0 | -€1,600 | -100.0% |
| Taxes, remuneration and social security | 45 | €11,503 | €7,184 | -€4,319 | -37.5% |
| Taxes | 450/3 | €11,503 | €7,184 | -€4,319 | -37.5% |
| Other amounts payable | 47/48 | €601 | €2,183 | +€1,582 | +263.1% |
| Accrued charges and deferred income | 492/3 | €784 | €475 | -€309 | -39.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,614 | €10,764 | +€150 | +1.4% |
| Other operating charges | 640/8 | €1,450 | €593 | -€857 | -59.1% |
| Gross operating margin | 9900 | €33,029 | €42,590 | +€9,562 | +28.9% |
| Operating profit (loss) | 9901 | €20,965 | €31,233 | +€10,268 | +49.0% |
| Financial income | 75/76B | €244 | €259 | +€15 | +6.0% |
| Recurring financial income | 75 | €244 | €259 | +€15 | +6.0% |
| Financial charges | 65/66B | €3,469 | €2,364 | -€1,105 | -31.8% |
| Recurring financial charges | 65 | €3,469 | €2,364 | -€1,105 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | €17,740 | €29,128 | +€11,387 | +64.2% |
| Income taxes | 67/77 | €6,975 | €9,332 | +€2,357 | +33.8% |
| Profit (loss) for the period | 9904 | €10,766 | €19,796 | +€9,030 | +83.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,766 | €19,796 | +€9,030 | +83.9% |
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 10 October 2026 via checked.be.