INCERTA: 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.
INCERTA
Largest movements
- Receivables within one year -€595,744
down €595,744 (-40.0%), from €1.5m to €894,076
of which Other amounts receivable: -€832,928
- Receivables after one year +€378,000
up €378,000 (+100.8%), from €375,000 to €753,000
- Cash +€169,729
up €169,729 (+292.7%), from €57,984 to €227,713
mainly Receivables within one year (+€595,744) and Net result for the year (+€366,773)
- Deferred charges and accrued income +€44,201
up €44,201 (+436.8%), from €10,119 to €54,321
- Intangible fixed assets -€31,354
down €31,354 (-96.9%), from €32,349 to €995
- Reserves +€366,773
up €366,773 (+750.6%), from €48,864 to €415,637
of which Distributable reserves: +€366,773
- Trade debts -€297,397
down €297,397 (-82.4%), from €361,025 to €63,628
- Short-term financial debts -€125,000
down €125,000 (-100.0%), from €125,000 to €0
- Accrued charges and deferred income +€31,288
up €31,288 (+3.0%), from €1.0m to €1.1m
- Gross operating margin +€778,190
up €778,190 (+84.5%), from €921,262 to €1.7m
- Staff costs -€107,711
down €107,711 (-7.6%), from €1.4m to €1.3m
- Financial income +€24,795
up €24,795 (+149.8%), from €16,548 to €41,343
- Write-downs -€22,397
down €22,397 (-100.0%), from €22,397 to €0
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 | €1,983,617 | €1,952,464 | -€31,153 | -1.6% |
| Fixed assets | 21/28 | €50,693 | €23,354 | -€27,339 | -53.9% |
| Intangible fixed assets | 21 | €32,349 | €995 | -€31,354 | -96.9% |
| Tangible fixed assets | 22/27 | €18,024 | €22,039 | +€4,015 | +22.3% |
| Furniture and vehicles | 24 | €18,024 | €22,039 | +€4,015 | +22.3% |
| Financial fixed assets | 28 | €320 | €320 | = | 0.0% |
| Current assets | 29/58 | €1,932,924 | €1,929,110 | -€3,813 | -0.2% |
| Amounts receivable after more than one year | 29 | €375,000 | €753,000 | +€378,000 | +100.8% |
| Other amounts receivable | 291 | €375,000 | €753,000 | +€378,000 | +100.8% |
| Amounts receivable within one year | 40/41 | €1,489,820 | €894,076 | -€595,744 | -40.0% |
| Trade receivables | 40 | €651,657 | €888,841 | +€237,184 | +36.4% |
| Other amounts receivable | 41 | €838,163 | €5,235 | -€832,928 | -99.4% |
| Cash at bank and in hand | 54/58 | €57,984 | €227,713 | +€169,729 | +292.7% |
| Deferred charges and accrued income | 490/1 | €10,119 | €54,321 | +€44,201 | +436.8% |
| Total equity and liabilities | 10/49 | €1,983,617 | €1,952,464 | -€31,153 | -1.6% |
| Equity | 10/15 | €190,220 | €556,993 | +€366,773 | +192.8% |
| Contributions | 10/11 | €141,356 | €141,356 | = | 0.0% |
| Reserves | 13 | €48,864 | €415,637 | +€366,773 | +750.6% |
| Non-distributable reserves | 130/1 | €14,136 | €14,136 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,136 | €14,136 | = | 0.0% |
| Distributable reserves | 133 | €34,729 | €401,502 | +€366,773 | +1056.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,793,396 | €1,395,471 | -€397,926 | -22.2% |
| Amounts payable within one year | 42/48 | €746,878 | €317,664 | -€429,214 | -57.5% |
| Financial debts | 43 | €125,000 | €0 | -€125,000 | -100.0% |
| Credit institutions | 430/8 | €125,000 | €0 | -€125,000 | -100.0% |
| Trade debts | 44 | €361,025 | €63,628 | -€297,397 | -82.4% |
| Suppliers | 440/4 | €361,025 | €63,628 | -€297,397 | -82.4% |
| Taxes, remuneration and social security | 45 | €260,853 | €254,036 | -€6,816 | -2.6% |
| Taxes | 450/3 | €84,360 | €91,631 | +€7,272 | +8.6% |
| Remuneration and social security | 454/9 | €176,493 | €162,405 | -€14,088 | -8.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,046,518 | €1,077,806 | +€31,288 | +3.0% |
| Remuneration, social security and pensions | 62 | €1,419,491 | €1,311,780 | -€107,711 | -7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,354 | €41,877 | -€1,477 | -3.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,397 | €0 | -€22,397 | -100.0% |
| Other operating charges | 640/8 | €1,408 | €1,143 | -€265 | -18.9% |
| Non-recurring operating charges | 66A | €26,772 | €0 | -€26,772 | -100.0% |
| Gross operating margin | 9900 | €921,262 | €1,699,453 | +€778,190 | +84.5% |
| Operating profit (loss) | 9901 | -€592,160 | €344,653 | +€936,813 | |
| Financial income | 75/76B | €16,548 | €41,343 | +€24,795 | +149.8% |
| Recurring financial income | 75 | €16,548 | €41,343 | +€24,795 | +149.8% |
| Financial charges | 65/66B | €19,361 | €16,415 | -€2,947 | -15.2% |
| Recurring financial charges | 65 | €19,361 | €16,415 | -€2,947 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | -€594,973 | €369,581 | +€964,554 | |
| Income taxes | 67/77 | €3,687 | €2,808 | -€879 | -23.8% |
| Profit (loss) for the period | 9904 | -€598,660 | €366,773 | +€965,434 | |
| Profit (loss) for the period to be appropriated | 9905 | -€598,660 | €366,773 | +€965,434 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.