INCONEL: 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.
INCONEL
Largest movements
- Receivables within one year +€58,148
up €58,148 (+42.2%), from €137,670 to €195,818
of which Other amounts receivable: +€32,954
- Cash -€15,830
down €15,830 (-46.6%), from €33,940 to €18,110
mainly Receivables within one year (-€58,148) and Other debts (-€13,595)
- Tangible fixed assets -€10,446
down €10,446 (-16.8%), from €62,258 to €51,812
- Reserves +€46,658
up €46,658 (+13.7%), from €339,962 to €386,620
of which Distributable reserves: +€46,658
- Other debts -€13,595
down €13,595 (-55.0%), from €24,720 to €11,125
- Tax, wage and social debts +€10,024
up €10,024 (+49.1%), from €20,404 to €30,428
- Debts after one year -€9,274
down €9,274 (-24.2%), from €38,325 to €29,051
- Depreciation +€10,810
up €10,810 (+353.5%), from €3,058 to €13,868
- Financial income +€2,633
up €2,633 (+31.3%), from €8,423 to €11,056
- Other operating charges -€1,574
down €1,574 (-73.5%), from €2,142 to €568
- Taxes -€1,399
down €1,399 (-5.1%), from €27,457 to €26,058
- Gross operating margin +€1,082
up €1,082 (+1.2%), from €89,451 to €90,533
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 | €457,314 | €490,011 | +€32,697 | +7.1% |
| Fixed assets | 21/28 | €62,258 | €51,812 | -€10,446 | -16.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €62,258 | €51,812 | -€10,446 | -16.8% |
| Furniture and vehicles | 24 | €62,258 | €51,812 | -€10,446 | -16.8% |
| Current assets | 29/58 | €395,055 | €438,199 | +€43,143 | +10.9% |
| Amounts receivable after more than one year | 29 | €214,000 | €214,000 | = | 0.0% |
| Other amounts receivable | 291 | €214,000 | €214,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €137,670 | €195,818 | +€58,148 | +42.2% |
| Trade receivables | 40 | €0 | €25,194 | +€25,194 | |
| Other amounts receivable | 41 | €137,670 | €170,624 | +€32,954 | +23.9% |
| Cash at bank and in hand | 54/58 | €33,940 | €18,110 | -€15,830 | -46.6% |
| Deferred charges and accrued income | 490/1 | €9,445 | €10,270 | +€825 | +8.7% |
| Total equity and liabilities | 10/49 | €457,314 | €490,011 | +€32,697 | +7.1% |
| Equity | 10/15 | €352,362 | €399,020 | +€46,658 | +13.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €339,962 | €386,620 | +€46,658 | +13.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €319,352 | €366,010 | +€46,658 | +14.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €104,952 | €90,991 | -€13,961 | -13.3% |
| Amounts payable after more than one year | 17 | €38,325 | €29,051 | -€9,274 | -24.2% |
| Financial debts | 170/4 | €38,325 | €29,051 | -€9,274 | -24.2% |
| Amounts payable within one year | 42/48 | €66,627 | €61,940 | -€4,687 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €9,944 | €10,274 | +€330 | +3.3% |
| Financial debts | 43 | €8,519 | €5,623 | -€2,895 | -34.0% |
| Credit institutions | 430/8 | €8,519 | €5,623 | -€2,895 | -34.0% |
| Trade debts | 44 | €3,040 | €4,489 | +€1,449 | +47.7% |
| Suppliers | 440/4 | €3,040 | €4,489 | +€1,449 | +47.7% |
| Taxes, remuneration and social security | 45 | €20,404 | €30,428 | +€10,024 | +49.1% |
| Taxes | 450/3 | €20,404 | €30,428 | +€10,024 | +49.1% |
| Other amounts payable | 47/48 | €24,720 | €11,125 | -€13,595 | -55.0% |
| Non-recurring operating income | 76A | €14,876 | €0 | -€14,876 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,058 | €13,868 | +€10,810 | +353.5% |
| Other operating charges | 640/8 | €2,142 | €568 | -€1,574 | -73.5% |
| Gross operating margin | 9900 | €89,451 | €90,533 | +€1,082 | +1.2% |
| Operating profit (loss) | 9901 | €84,250 | €76,097 | -€8,153 | -9.7% |
| Financial income | 75/76B | €8,423 | €11,056 | +€2,633 | +31.3% |
| Recurring financial income | 75 | €8,423 | €11,056 | +€2,633 | +31.3% |
| Financial charges | 65/66B | €2,629 | €3,311 | +€683 | +26.0% |
| Recurring financial charges | 65 | €2,629 | €3,311 | +€683 | +26.0% |
| Profit (loss) for the period before taxes | 9903 | €90,044 | €83,841 | -€6,203 | -6.9% |
| Income taxes | 67/77 | €27,457 | €26,058 | -€1,399 | -5.1% |
| Profit (loss) for the period | 9904 | €62,587 | €57,784 | -€4,803 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €62,587 | €57,784 | -€4,803 | -7.7% |
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 4 October 2026 via checked.be.