INCO: 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.
INCO
Largest movements
- Cash -€65,471
down €65,471 (-36.8%), from €177,906 to €112,435
mainly Net result for the year (-€57,228) and Other debts (-€17,068)
- Intangible fixed assets -€11,747
down €11,747 (-50.0%), from €23,495 to €11,748
- Profit (loss) carried forward -€57,228
down €57,228 (-47.2%), from €121,200 to €63,972
- Other debts -€17,068
down €17,068 (-76.5%), from €22,310 to €5,242
- Debts after one year -€5,778
down €5,778 (-70.3%), from €8,216 to €2,438
- Gross operating margin -€39,725
down €39,725 (-3,406%), from -€1,166 to -€40,891
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 | €226,415 | €147,960 | -€78,455 | -34.7% |
| Fixed assets | 21/28 | €39,690 | €26,012 | -€13,678 | -34.5% |
| Intangible fixed assets | 21 | €23,495 | €11,748 | -€11,747 | -50.0% |
| Tangible fixed assets | 22/27 | €16,195 | €14,265 | -€1,930 | -11.9% |
| Plant, machinery and equipment | 23 | €15,724 | €13,612 | -€2,112 | -13.4% |
| Furniture and vehicles | 24 | €471 | €653 | +€182 | +38.6% |
| Current assets | 29/58 | €186,725 | €121,947 | -€64,777 | -34.7% |
| Amounts receivable within one year | 40/41 | €6,500 | €6,500 | = | 0.0% |
| Other amounts receivable | 41 | €6,500 | €6,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €177,906 | €112,435 | -€65,471 | -36.8% |
| Deferred charges and accrued income | 490/1 | €2,319 | €3,012 | +€693 | +29.9% |
| Total equity and liabilities | 10/49 | €226,415 | €147,960 | -€78,455 | -34.7% |
| Equity | 10/15 | €189,400 | €132,172 | -€57,228 | -30.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €121,200 | €63,972 | -€57,228 | -47.2% |
| Amounts payable | 17/49 | €37,015 | €15,788 | -€21,227 | -57.3% |
| Amounts payable after more than one year | 17 | €8,216 | €2,438 | -€5,778 | -70.3% |
| Financial debts | 170/4 | €8,216 | €2,438 | -€5,778 | -70.3% |
| Amounts payable within one year | 42/48 | €28,799 | €13,350 | -€15,449 | -53.6% |
| Current portion of amounts payable after more than one year | 42 | €5,676 | €5,778 | +€102 | +1.8% |
| Trade debts | 44 | €813 | €2,329 | +€1,517 | +187% |
| Suppliers | 440/4 | €813 | €2,329 | +€1,517 | +187% |
| Other amounts payable | 47/48 | €22,310 | €5,242 | -€17,068 | -76.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,066 | €14,272 | +€206 | +1.5% |
| Other operating charges | 640/8 | €1,393 | €1,572 | +€179 | +12.8% |
| Gross operating margin | 9900 | -€1,166 | -€40,891 | -€39,725 | -3,406% |
| Operating profit (loss) | 9901 | -€16,625 | -€56,735 | -€40,109 | -241% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €716 | €493 | -€222 | -31.1% |
| Recurring financial charges | 65 | €716 | €493 | -€222 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | -€17,341 | -€57,228 | -€39,887 | -230% |
| Profit (loss) for the period | 9904 | -€17,341 | -€57,228 | -€39,887 | -230% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,341 | -€57,228 | -€39,887 | -230% |
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 14 October 2026 via checked.be.