Incobox: 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.
Incobox
Largest movements
- Tangible fixed assets +€437,712
up €437,712 (+37.1%), from €1.2m to €1.6m
of which Land and buildings: +€480,817
- Stocks and contracts -€274,400
no longer reported in 2025 (was €274,400)
- Cash -€64,212
down €64,212 (-34.6%), from €185,691 to €121,479
mainly Investment in fixed assets (net) (-€531,516) and Contributions, distributions and other (-€416,096)
- Receivables within one year +€53,585
up €53,585 (+3,049%), from €1,758 to €55,342
of which Trade receivables: +€51,637
- Other debts +€416,096
up €416,096 (+2,080%), from €20,000 to €436,096
- Reserves -€214,657
down €214,657 (-17.8%), from €1.2m to €990,832
- Debts after one year -€88,000
down €88,000 (-15.8%), from €557,333 to €469,333
- Tax, wage and social debts +€37,515
up €37,515 (+64.7%), from €58,013 to €95,528
- Depreciation +€23,473
up €23,473 (+33.4%), from €70,331 to €93,804
- Gross operating margin +€13,528
up €13,528 (+3.4%), from €399,989 to €413,517
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 | €1,949,975 | €2,102,701 | +€152,727 | +7.8% |
| Fixed assets | 21/28 | €1,477,955 | €1,915,667 | +€437,712 | +29.6% |
| Tangible fixed assets | 22/27 | €1,178,955 | €1,616,667 | +€437,712 | +37.1% |
| Land and buildings | 22 | €1,034,285 | €1,515,102 | +€480,817 | +46.5% |
| Furniture and vehicles | 24 | €144,670 | €101,565 | -€43,105 | -29.8% |
| Financial fixed assets | 28 | €299,000 | €299,000 | = | 0.0% |
| Current assets | 29/58 | €472,020 | €187,034 | -€284,985 | -60.4% |
| Stocks and contracts in progress | 3 | €274,400 | - | -€274,400 | |
| Stocks | 30/36 | €274,400 | - | -€274,400 | |
| Amounts receivable within one year | 40/41 | €1,758 | €55,342 | +€53,585 | +3,049% |
| Trade receivables | 40 | - | €51,637 | +€51,637 | |
| Other amounts receivable | 41 | €1,758 | €3,705 | +€1,948 | +111% |
| Cash at bank and in hand | 54/58 | €185,691 | €121,479 | -€64,212 | -34.6% |
| Deferred charges and accrued income | 490/1 | €10,171 | €10,213 | +€42 | +0.4% |
| Total equity and liabilities | 10/49 | €1,949,975 | €2,102,701 | +€152,727 | +7.8% |
| Equity | 10/15 | €1,224,089 | €1,009,432 | -€214,657 | -17.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,205,489 | €990,832 | -€214,657 | -17.8% |
| Distributable reserves | 133 | €1,205,489 | €990,832 | -€214,657 | -17.8% |
| Amounts payable | 17/49 | €725,886 | €1,093,269 | +€367,384 | +50.6% |
| Amounts payable after more than one year | 17 | €557,333 | €469,333 | -€88,000 | -15.8% |
| Financial debts | 170/4 | €557,333 | €469,333 | -€88,000 | -15.8% |
| Amounts payable within one year | 42/48 | €168,534 | €622,997 | +€454,462 | +270% |
| Current portion of amounts payable after more than one year | 42 | €88,000 | €88,000 | = | 0.0% |
| Trade debts | 44 | €2,521 | €3,373 | +€851 | +33.8% |
| Suppliers | 440/4 | €2,521 | €3,373 | +€851 | +33.8% |
| Taxes, remuneration and social security | 45 | €58,013 | €95,528 | +€37,515 | +64.7% |
| Taxes | 450/3 | €58,013 | €95,528 | +€37,515 | +64.7% |
| Other amounts payable | 47/48 | €20,000 | €436,096 | +€416,096 | +2,080% |
| Accrued charges and deferred income | 492/3 | €18 | €940 | +€922 | +5,022% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,331 | €93,804 | +€23,473 | +33.4% |
| Other operating charges | 640/8 | €12,338 | €10,624 | -€1,714 | -13.9% |
| Gross operating margin | 9900 | €399,989 | €413,517 | +€13,528 | +3.4% |
| Operating profit (loss) | 9901 | €317,320 | €309,089 | -€8,231 | -2.6% |
| Financial income | 75/76B | €537 | €50 | -€487 | -90.7% |
| Recurring financial income | 75 | €537 | €50 | -€487 | -90.7% |
| Financial charges | 65/66B | €8,729 | €8,216 | -€513 | -5.9% |
| Recurring financial charges | 65 | €8,729 | €8,216 | -€513 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €309,128 | €300,923 | -€8,205 | -2.7% |
| Income taxes | 67/77 | €101,363 | €99,484 | -€1,879 | -1.9% |
| Profit (loss) for the period | 9904 | €207,765 | €201,439 | -€6,326 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €207,765 | €201,439 | -€6,326 | -3.0% |
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 28 October 2026 via checked.be.