INCIPIUM: 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.
INCIPIUM
Largest movements
- Receivables within one year +€28,676
up €28,676 (+674.4%), from €4,252 to €32,928
of which Trade receivables: +€25,650
- Tangible fixed assets +€18,683
up €18,683 (+56.6%), from €32,998 to €51,681
- Cash +€4,800
up €4,800 (+146.0%), from €3,288 to €8,088
mainly Other debts (+€45,635) and Trade debts (+€10,849)
- Other debts +€45,635
up €45,635 (+12.8%), from €356,721 to €402,356
- Trade debts +€10,849
up €10,849 (+279.3%), from €3,885 to €14,734
- Profit (loss) carried forward -€4,325
down €4,325 (-10.8%), from -€40,168 to -€44,493
- Turnover +€44,794
up €44,794 (+241.7%), from €18,535 to €63,329
- Gross operating margin +€26,431
up €26,431, from -€21,193 to €5,238
- Purchases and services +€18,363
up €18,363 (+46.2%), from €39,728 to €58,091
- Depreciation -€2,326
down €2,326 (-20.4%), from €11,422 to €9,096
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 | €340,438 | €392,597 | +€52,159 | +15.3% |
| Fixed assets | 21/28 | €332,898 | €351,581 | +€18,683 | +5.6% |
| Tangible fixed assets | 22/27 | €32,998 | €51,681 | +€18,683 | +56.6% |
| Furniture and vehicles | 24 | €32,998 | €51,681 | +€18,683 | +56.6% |
| Financial fixed assets | 28 | €299,900 | €299,900 | = | 0.0% |
| Current assets | 29/58 | €7,540 | €41,016 | +€33,476 | +444.0% |
| Amounts receivable within one year | 40/41 | €4,252 | €32,928 | +€28,676 | +674.4% |
| Trade receivables | 40 | - | €25,650 | +€25,650 | |
| Other amounts receivable | 41 | €4,252 | €7,278 | +€3,026 | +71.2% |
| Cash at bank and in hand | 54/58 | €3,288 | €8,088 | +€4,800 | +146.0% |
| Total equity and liabilities | 10/49 | €340,438 | €392,597 | +€52,159 | +15.3% |
| Equity | 10/15 | -€20,168 | -€24,493 | -€4,325 | -21.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,168 | -€44,493 | -€4,325 | -10.8% |
| Amounts payable | 17/49 | €360,606 | €417,090 | +€56,484 | +15.7% |
| Amounts payable within one year | 42/48 | €360,606 | €417,090 | +€56,484 | +15.7% |
| Trade debts | 44 | €3,885 | €14,734 | +€10,849 | +279.3% |
| Suppliers | 440/4 | €3,885 | €14,734 | +€10,849 | +279.3% |
| Other amounts payable | 47/48 | €356,721 | €402,356 | +€45,635 | +12.8% |
| Turnover | 70 | €18,535 | €63,329 | +€44,794 | +241.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €39,728 | €58,091 | +€18,363 | +46.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,422 | €9,096 | -€2,326 | -20.4% |
| Other operating charges | 640/8 | €733 | €386 | -€347 | -47.3% |
| Gross operating margin | 9900 | -€21,193 | €5,238 | +€26,431 | |
| Operating profit (loss) | 9901 | -€33,348 | -€4,244 | +€29,104 | +87.3% |
| Financial charges | 65/66B | €89 | €81 | -€8 | -9.0% |
| Recurring financial charges | 65 | €89 | €81 | -€8 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | -€33,437 | -€4,325 | +€29,112 | +87.1% |
| Profit (loss) for the period | 9904 | -€33,437 | -€4,325 | +€29,112 | +87.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,437 | -€4,325 | +€29,112 | +87.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.