INCITATO: 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.
INCITATO
Largest movements
- Cash +€13,562
up €13,562 (+1241.4%), from €1,092 to €14,654
mainly Depreciation (+€13,067) and Net result for the year (+€8,828)
- Tangible fixed assets -€12,260
down €12,260 (-27.7%), from €44,202 to €31,943
of which Furniture and vehicles: -€8,202
- Receivables within one year +€5,119
up €5,119 (+37.3%), from €13,706 to €18,825
of which Other amounts receivable: +€10,610
- Reserves +€6,213
up €6,213 (+147.9%), from €4,200 to €10,413
of which Distributable reserves: +€6,213
- Other debts -€3,684
down €3,684 (-100.0%), from €3,684 to €0
- Tax, wage and social debts +€2,809
up €2,809 (+103.8%), from €2,707 to €5,516
- Profit (loss) carried forward +€2,615
up €2,615, from -€2,615 to €0
- Trade debts -€1,698
down €1,698 (-98.1%), from €1,731 to €33
- Gross operating margin -€22,480
down €22,480 (-42.4%), from €53,066 to €30,586
- Depreciation -€4,206
down €4,206 (-24.3%), from €17,273 to €13,067
- Taxes +€3,173
up €3,173 (+105.3%), from €3,013 to €6,186
- Other operating charges +€2,193
up €2,193 (+927.0%), from €237 to €2,430
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 | €59,707 | €65,962 | +€6,255 | +10.5% |
| Fixed assets | 21/28 | €44,442 | €31,988 | -€12,454 | -28.0% |
| Intangible fixed assets | 21 | €194 | €0 | -€194 | -100.0% |
| Tangible fixed assets | 22/27 | €44,202 | €31,943 | -€12,260 | -27.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €28,452 | €20,249 | -€8,202 | -28.8% |
| Other tangible fixed assets | 26 | €15,751 | €11,694 | -€4,057 | -25.8% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €15,266 | €33,975 | +€18,709 | +122.6% |
| Amounts receivable within one year | 40/41 | €13,706 | €18,825 | +€5,119 | +37.3% |
| Trade receivables | 40 | €13,706 | €8,214 | -€5,492 | -40.1% |
| Other amounts receivable | 41 | - | €10,610 | +€10,610 | |
| Cash at bank and in hand | 54/58 | €1,092 | €14,654 | +€13,562 | +1241.4% |
| Deferred charges and accrued income | 490/1 | €467 | €496 | +€29 | +6.2% |
| Total equity and liabilities | 10/49 | €59,707 | €65,962 | +€6,255 | +10.5% |
| Equity | 10/15 | €51,585 | €60,413 | +€8,828 | +17.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €4,200 | €10,413 | +€6,213 | +147.9% |
| Non-distributable reserves | 130/1 | €4,200 | €4,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,200 | €4,200 | = | 0.0% |
| Distributable reserves | 133 | - | €6,213 | +€6,213 | |
| Profit (loss) carried forward | 14 | -€2,615 | €0 | +€2,615 | |
| Amounts payable | 17/49 | €8,122 | €5,549 | -€2,573 | -31.7% |
| Amounts payable within one year | 42/48 | €8,122 | €5,549 | -€2,573 | -31.7% |
| Trade debts | 44 | €1,731 | €33 | -€1,698 | -98.1% |
| Suppliers | 440/4 | €1,731 | €33 | -€1,698 | -98.1% |
| Taxes, remuneration and social security | 45 | €2,707 | €5,516 | +€2,809 | +103.8% |
| Taxes | 450/3 | €2,707 | €5,516 | +€2,809 | +103.8% |
| Other amounts payable | 47/48 | €3,684 | €0 | -€3,684 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,273 | €13,067 | -€4,206 | -24.3% |
| Other operating charges | 640/8 | €237 | €2,430 | +€2,193 | +927.0% |
| Gross operating margin | 9900 | €53,066 | €30,586 | -€22,480 | -42.4% |
| Operating profit (loss) | 9901 | €35,557 | €15,090 | -€20,467 | -57.6% |
| Financial income | 75/76B | €5 | €110 | +€105 | +2167.7% |
| Recurring financial income | 75 | €5 | €110 | +€105 | +2167.7% |
| Financial charges | 65/66B | €189 | €186 | -€3 | -1.7% |
| Recurring financial charges | 65 | €189 | €186 | -€3 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €35,372 | €15,014 | -€20,358 | -57.6% |
| Income taxes | 67/77 | €3,013 | €6,186 | +€3,173 | +105.3% |
| Profit (loss) for the period | 9904 | €32,360 | €8,828 | -€23,531 | -72.7% |
| Profit (loss) for the period to be appropriated | 9905 | €32,360 | €8,828 | -€23,531 | -72.7% |
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 6 October 2026 via checked.be.