INCOBO: 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.
What changed
INCOBO
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€4,130
2024 · -€541-€3,589
Equity
€2.0m
2024 · €2.0m-€4,130
Cash
€1,910
2024 · €2,050-€140
Balance sheet total
€4.6m
2024 · €4.5m+€79,230
Largest movements
Assets
- Receivables within one year +€75,739
up €75,739 (+13.9%), from €546,812 to €622,551
of which Trade receivables: +€42,100
Equity and liabilities
- Debts after one year +€84,400
up €84,400 (+4.0%), from €2.1m to €2.2m
of which Other amounts payable: +€177,080
Income statement
- Financial charges +€14,345
up €14,345 (+76.9%), from €18,655 to €33,000
- Financial income +€4,023
new in 2025: €4,023
- Gross operating margin +€2,029
up €2,029 (+8.1%), from €25,131 to €27,161
- Other operating charges -€2,009
down €2,009 (-54.4%), from €3,694 to €1,685
- Taxes -€2,004
down €2,004 (-90.2%), from €2,223 to €219
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.
Result 2024
-€541
Gross operating margin
+€2,029
Depreciation
+€690
Other operating charges
+€2,009
Financial income
+€4,023
Financial charges
-€14,345
Taxes
+€2,004
Result 2025
-€4,130
raises the resultlowers the result
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.
From operations
-€85,478
Investment
€0
Financing
+€85,339
Cash 2024
€2,050
From operations (derived)
-€85,478
Net result for the year
-€4,130
Depreciation
+€411
Receivables within one year
-€75,739
Deferred charges and accrued income
-€4,041
Trade debts
+€25,223
Tax, wage and social debts
-€2,750
Other debts
-€24,452
Financing
+€85,339
Debts after one year
+€84,400
Current portion of long-term debt
+€939
Cash 2025
€1,910
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,474,555 | €4,553,784 | +€79,230 | +1.8% |
| Fixed assets | 21/28 | €3,838,815 | €3,838,404 | -€411 | 0.0% |
| Tangible fixed assets | 22/27 | €708 | €297 | -€411 | -58.1% |
| Plant, machinery and equipment | 23 | €593 | €297 | -€297 | -50.0% |
| Furniture and vehicles | 24 | €114 | - | -€114 | |
| Financial fixed assets | 28 | €3,838,108 | €3,838,108 | = | 0.0% |
| Current assets | 29/58 | €635,739 | €715,380 | +€79,641 | +12.5% |
| Amounts receivable within one year | 40/41 | €546,812 | €622,551 | +€75,739 | +13.9% |
| Trade receivables | 40 | €37,954 | €80,054 | +€42,100 | +111% |
| Other amounts receivable | 41 | €508,858 | €542,498 | +€33,639 | +6.6% |
| Cash at bank and in hand | 54/58 | €2,050 | €1,910 | -€140 | -6.8% |
| Deferred charges and accrued income | 490/1 | €86,877 | €90,918 | +€4,041 | +4.7% |
| Total equity and liabilities | 10/49 | €4,474,555 | €4,553,784 | +€79,230 | +1.8% |
| Equity | 10/15 | €2,024,897 | €2,020,767 | -€4,130 | -0.2% |
| Contributions | 10/11 | €1,799,638 | €1,799,638 | = | 0.0% |
| Reserves | 13 | €226,800 | €226,800 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,800 | €3,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,800 | €3,800 | = | 0.0% |
| Distributable reserves | 133 | €223,000 | €223,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,541 | -€5,671 | -€4,130 | -268% |
| Amounts payable | 17/49 | €2,449,657 | €2,533,017 | +€83,360 | +3.4% |
| Amounts payable after more than one year | 17 | €2,133,654 | €2,218,053 | +€84,400 | +4.0% |
| Financial debts | 170/4 | €312,728 | €220,048 | -€92,680 | -29.6% |
| Other amounts payable | 178/9 | €1,820,926 | €1,998,006 | +€177,080 | +9.7% |
| Amounts payable within one year | 42/48 | €294,183 | €293,143 | -€1,040 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €91,741 | €92,680 | +€939 | +1.0% |
| Trade debts | 44 | €33,191 | €58,414 | +€25,223 | +76.0% |
| Suppliers | 440/4 | €33,191 | €58,414 | +€25,223 | +76.0% |
| Taxes, remuneration and social security | 45 | €6,554 | €3,804 | -€2,750 | -42.0% |
| Taxes | 450/3 | €4,826 | €3,751 | -€1,075 | -22.3% |
| Remuneration and social security | 454/9 | €1,728 | €53 | -€1,675 | -96.9% |
| Other amounts payable | 47/48 | €162,697 | €138,245 | -€24,452 | -15.0% |
| Accrued charges and deferred income | 492/3 | €21,821 | €21,821 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,100 | €411 | -€690 | -62.7% |
| Other operating charges | 640/8 | €3,694 | €1,685 | -€2,009 | -54.4% |
| Gross operating margin | 9900 | €25,131 | €27,161 | +€2,029 | +8.1% |
| Operating profit (loss) | 9901 | €20,337 | €25,065 | +€4,728 | +23.2% |
| Financial income | 75/76B | - | €4,023 | +€4,023 | |
| Recurring financial income | 75 | - | €4,023 | +€4,023 | |
| Financial charges | 65/66B | €18,655 | €33,000 | +€14,345 | +76.9% |
| Recurring financial charges | 65 | €18,655 | €33,000 | +€14,345 | +76.9% |
| Profit (loss) for the period before taxes | 9903 | €1,682 | -€3,912 | -€5,593 | |
| Income taxes | 67/77 | €2,223 | €219 | -€2,004 | -90.2% |
| Profit (loss) for the period | 9904 | -€541 | -€4,130 | -€3,589 | -663% |
| Profit (loss) for the period to be appropriated | 9905 | -€541 | -€4,130 | -€3,589 | -663% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.