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
- Cash -€26,800
down €26,800 (-77.1%), from €34,754 to €7,953
mainly Contributions, distributions and other (-€59,000) and Tax, wage and social debts (-€2,496)
- Receivables within one year -€5,904
down €5,904 (-31.9%), from €18,536 to €12,632
of which Trade receivables: -€3,830
- Deferred charges and accrued income -€894
down €894 (-12.3%), from €7,283 to €6,389
- Profit (loss) carried forward -€46,294
down €46,294 (-94.5%), from €48,973 to €2,679
- Other debts +€13,952
up €13,952 (+1,389%), from €1,005 to €14,956
- Tax, wage and social debts -€2,496
down €2,496 (-36.7%), from €6,799 to €4,303
- Trade debts +€1,483
up €1,483 (+896%), from €166 to €1,648
- Gross operating margin -€18,505
down €18,505 (-46.7%), from €39,621 to €21,115
- Taxes -€3,598
down €3,598 (-45.6%), from €7,889 to €4,291
- Other operating charges +€397
up €397 (+412%), from €96 to €493
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 | €61,981 | €28,604 | -€33,377 | -53.8% |
| Fixed assets | 21/28 | €1,409 | €1,630 | +€221 | +15.7% |
| Tangible fixed assets | 22/27 | €1,409 | €1,630 | +€221 | +15.7% |
| Plant, machinery and equipment | 23 | €394 | €0 | -€394 | -100% |
| Furniture and vehicles | 24 | €1,015 | €1,630 | +€615 | +60.6% |
| Current assets | 29/58 | €60,573 | €26,975 | -€33,598 | -55.5% |
| Amounts receivable within one year | 40/41 | €18,536 | €12,632 | -€5,904 | -31.9% |
| Trade receivables | 40 | €16,462 | €12,632 | -€3,830 | -23.3% |
| Other amounts receivable | 41 | €2,074 | €0 | -€2,074 | -100% |
| Cash at bank and in hand | 54/58 | €34,754 | €7,953 | -€26,800 | -77.1% |
| Deferred charges and accrued income | 490/1 | €7,283 | €6,389 | -€894 | -12.3% |
| Total equity and liabilities | 10/49 | €61,981 | €28,604 | -€33,377 | -53.8% |
| Equity | 10/15 | €53,973 | €7,679 | -€46,294 | -85.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,973 | €2,679 | -€46,294 | -94.5% |
| Amounts payable | 17/49 | €8,008 | €20,925 | +€12,917 | +161% |
| Amounts payable within one year | 42/48 | €8,008 | €20,925 | +€12,917 | +161% |
| Financial debts | 43 | €39 | €18 | -€21 | -54.9% |
| Other loans | 439 | €39 | €18 | -€21 | -54.9% |
| Trade debts | 44 | €166 | €1,648 | +€1,483 | +896% |
| Suppliers | 440/4 | €166 | €1,648 | +€1,483 | +896% |
| Taxes, remuneration and social security | 45 | €6,799 | €4,303 | -€2,496 | -36.7% |
| Taxes | 450/3 | €6,799 | €4,303 | -€2,496 | -36.7% |
| Other amounts payable | 47/48 | €1,005 | €14,956 | +€13,952 | +1,389% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €722 | €933 | +€211 | +29.2% |
| Other operating charges | 640/8 | €96 | €493 | +€397 | +412% |
| Gross operating margin | 9900 | €39,621 | €21,115 | -€18,505 | -46.7% |
| Operating profit (loss) | 9901 | €38,802 | €19,689 | -€19,113 | -49.3% |
| Financial income | 75/76B | €3 | €0 | -€3 | -100% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100% |
| Financial charges | 65/66B | €2,838 | €2,692 | -€146 | -5.1% |
| Recurring financial charges | 65 | €2,838 | €2,692 | -€146 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €35,967 | €16,997 | -€18,970 | -52.7% |
| Income taxes | 67/77 | €7,889 | €4,291 | -€3,598 | -45.6% |
| Profit (loss) for the period | 9904 | €28,078 | €12,706 | -€15,372 | -54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €28,078 | €12,706 | -€15,372 | -54.7% |
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 15 October 2026 via checked.be.