INCIPIAS: 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.
INCIPIAS
Largest movements
- Receivables within one year -€6,654
down €6,654 (-90.8%), from €7,327 to €673
of which Trade receivables: -€6,722
- Cash +€6,104
up €6,104 (+110%), from €5,528 to €11,632
mainly Receivables within one year (+€6,654) and Depreciation (+€4,275)
- Tangible fixed assets -€3,890
down €3,890 (-36.6%), from €10,637 to €6,747
- Deferred charges and accrued income +€591
up €591 (+651%), from €91 to €681
- Debts after one year -€2,796
down €2,796 (-100%), from €2,796 to €0
- Current portion of long-term debt -€1,917
down €1,917 (-40.7%), from €4,714 to €2,796
- Trade debts +€467
new in 2025: €467
- Gross operating margin +€1,254
up €1,254 (+29.6%), from €4,236 to €5,490
- Depreciation -€137
down €137 (-3.1%), from €4,412 to €4,275
- Taxes +€132
new in 2025: €132
- Financial charges -€58
down €58 (-16.6%), from €348 to €290
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 | €23,628 | €19,779 | -€3,850 | -16.3% |
| Fixed assets | 21/28 | €10,682 | €6,793 | -€3,890 | -36.4% |
| Tangible fixed assets | 22/27 | €10,637 | €6,747 | -€3,890 | -36.6% |
| Furniture and vehicles | 24 | €10,637 | €6,747 | -€3,890 | -36.6% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €12,946 | €12,986 | +€40 | +0.3% |
| Amounts receivable within one year | 40/41 | €7,327 | €673 | -€6,654 | -90.8% |
| Trade receivables | 40 | €7,327 | €605 | -€6,722 | -91.7% |
| Other amounts receivable | 41 | - | €68 | +€68 | |
| Cash at bank and in hand | 54/58 | €5,528 | €11,632 | +€6,104 | +110% |
| Deferred charges and accrued income | 490/1 | €91 | €681 | +€591 | +651% |
| Total equity and liabilities | 10/49 | €23,628 | €19,779 | -€3,850 | -16.3% |
| Equity | 10/15 | €14,468 | €14,618 | +€150 | +1.0% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €12,500 | €12,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,500 | €12,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,532 | -€10,382 | +€150 | +1.4% |
| Amounts payable | 17/49 | €9,160 | €5,161 | -€3,999 | -43.7% |
| Amounts payable after more than one year | 17 | €2,796 | €0 | -€2,796 | -100% |
| Financial debts | 170/4 | €2,796 | €0 | -€2,796 | -100% |
| Amounts payable within one year | 42/48 | €6,273 | €5,161 | -€1,112 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €4,714 | €2,796 | -€1,917 | -40.7% |
| Trade debts | 44 | - | €467 | +€467 | |
| Suppliers | 440/4 | - | €467 | +€467 | |
| Taxes, remuneration and social security | 45 | €1,114 | €1,225 | +€111 | +10.0% |
| Taxes | 450/3 | €1,114 | €1,025 | -€89 | -8.0% |
| Remuneration and social security | 454/9 | - | €200 | +€200 | |
| Other amounts payable | 47/48 | €446 | €672 | +€227 | +50.9% |
| Accrued charges and deferred income | 492/3 | €91 | €0 | -€91 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,412 | €4,275 | -€137 | -3.1% |
| Other operating charges | 640/8 | €626 | €643 | +€17 | +2.8% |
| Gross operating margin | 9900 | €4,236 | €5,490 | +€1,254 | +29.6% |
| Operating profit (loss) | 9901 | -€802 | €572 | +€1,374 | |
| Financial income | 75/76B | €9 | €0 | -€9 | -100% |
| Recurring financial income | 75 | €9 | €0 | -€9 | -100% |
| Financial charges | 65/66B | €348 | €290 | -€58 | -16.6% |
| Recurring financial charges | 65 | €348 | €290 | -€58 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,141 | €282 | +€1,423 | |
| Income taxes | 67/77 | - | €132 | +€132 | |
| Profit (loss) for the period | 9904 | -€1,141 | €150 | +€1,291 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,141 | €150 | +€1,291 |
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 19 October 2026 via checked.be.