INCEPTO: 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.
INCEPTO
Largest movements
- Receivables within one year -€16,709
down €16,709 (-43.9%), from €38,053 to €21,345
of which Other amounts receivable: -€14,423
- Intangible fixed assets -€11,987
down €11,987 (-8.9%), from €133,955 to €121,968
- Cash -€11,045
down €11,045 (-30.1%), from €36,737 to €25,692
mainly Investment in fixed assets (net) (-€71,019) and Other debts (-€19,210)
- Other debts -€19,210
down €19,210 (-100%), from €19,210 to €0
- Tax, wage and social debts -€9,320
down €9,320 (-89.0%), from €10,473 to €1,154
- Trade debts -€9,317
down €9,317 (-75.9%), from €12,282 to €2,965
- Profit (loss) carried forward -€3,848
down €3,848, from €0 to -€3,848
- Depreciation +€15,855
up €15,855 (+23.2%), from €68,464 to €84,320
- Gross operating margin -€9,111
down €9,111 (-9.2%), from €99,010 to €89,899
- Taxes -€6,295
down €6,295 (-91.9%), from €6,852 to €557
- Other operating charges -€5,134
down €5,134 (-64.4%), from €7,974 to €2,841
- Financial charges +€3,112
up €3,112 (+107%), from €2,916 to €6,029
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 | €215,017 | €172,983 | -€42,034 | -19.5% |
| Fixed assets | 21/28 | €137,768 | €124,468 | -€13,300 | -9.7% |
| Intangible fixed assets | 21 | €133,955 | €121,968 | -€11,987 | -8.9% |
| Tangible fixed assets | 22/27 | €3,713 | €2,400 | -€1,314 | -35.4% |
| Furniture and vehicles | 24 | €3,713 | €2,400 | -€1,314 | -35.4% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €77,249 | €48,516 | -€28,733 | -37.2% |
| Amounts receivable within one year | 40/41 | €38,053 | €21,345 | -€16,709 | -43.9% |
| Trade receivables | 40 | €16,805 | €14,519 | -€2,285 | -13.6% |
| Other amounts receivable | 41 | €21,248 | €6,825 | -€14,423 | -67.9% |
| Cash at bank and in hand | 54/58 | €36,737 | €25,692 | -€11,045 | -30.1% |
| Deferred charges and accrued income | 490/1 | €2,459 | €1,479 | -€980 | -39.8% |
| Total equity and liabilities | 10/49 | €215,017 | €172,983 | -€42,034 | -19.5% |
| Equity | 10/15 | €172,452 | €168,604 | -€3,848 | -2.2% |
| Contributions | 10/11 | €7,068 | €7,068 | = | 0.0% |
| Reserves | 13 | €165,384 | €165,384 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €163,524 | €163,524 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€3,848 | -€3,848 | |
| Amounts payable | 17/49 | €42,565 | €4,379 | -€38,186 | -89.7% |
| Amounts payable within one year | 42/48 | €41,965 | €4,118 | -€37,846 | -90.2% |
| Trade debts | 44 | €12,282 | €2,965 | -€9,317 | -75.9% |
| Suppliers | 440/4 | €12,282 | €2,965 | -€9,317 | -75.9% |
| Taxes, remuneration and social security | 45 | €10,473 | €1,154 | -€9,320 | -89.0% |
| Taxes | 450/3 | €10,473 | €1,154 | -€9,320 | -89.0% |
| Other amounts payable | 47/48 | €19,210 | €0 | -€19,210 | -100% |
| Accrued charges and deferred income | 492/3 | €600 | €260 | -€340 | -56.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,464 | €84,320 | +€15,855 | +23.2% |
| Other operating charges | 640/8 | €7,974 | €2,841 | -€5,134 | -64.4% |
| Gross operating margin | 9900 | €99,010 | €89,899 | -€9,111 | -9.2% |
| Operating profit (loss) | 9901 | €22,571 | €2,738 | -€19,833 | -87.9% |
| Financial income | 75/76B | €269 | €0 | -€269 | -100% |
| Recurring financial income | 75 | €269 | €0 | -€269 | -100% |
| Financial charges | 65/66B | €2,916 | €6,029 | +€3,112 | +107% |
| Recurring financial charges | 65 | €2,916 | €6,029 | +€3,112 | +107% |
| Profit (loss) for the period before taxes | 9903 | €19,924 | -€3,290 | -€23,214 | |
| Income taxes | 67/77 | €6,852 | €557 | -€6,295 | -91.9% |
| Profit (loss) for the period | 9904 | €13,072 | -€3,848 | -€16,920 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,072 | -€3,848 | -€16,920 |
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 17 October 2026 via checked.be.