Incopneu: 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.
Incopneu
Largest movements
- Cash +€45,587
up €45,587 (+42.1%), from €108,241 to €153,828
mainly Net result for the year (+€44,477) and Depreciation (+€1,742)
- Profit (loss) carried forward +€44,477
up €44,477 (+107%), from €41,663 to €86,140
- Gross operating margin +€3,561
up €3,561 (+5.8%), from €61,280 to €64,840
- Taxes +€1,028
up €1,028 (+7.5%), from €13,798 to €14,826
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 | €190,450 | €234,970 | +€44,519 | +23.4% |
| Fixed assets | 21/28 | €82,210 | €80,467 | -€1,742 | -2.1% |
| Tangible fixed assets | 22/27 | €82,210 | €80,467 | -€1,742 | -2.1% |
| Land and buildings | 22 | €82,210 | €80,467 | -€1,742 | -2.1% |
| Current assets | 29/58 | €108,241 | €154,502 | +€46,262 | +42.7% |
| Amounts receivable within one year | 40/41 | - | €675 | +€675 | |
| Other amounts receivable | 41 | - | €675 | +€675 | |
| Cash at bank and in hand | 54/58 | €108,241 | €153,828 | +€45,587 | +42.1% |
| Total equity and liabilities | 10/49 | €190,450 | €234,970 | +€44,519 | +23.4% |
| Equity | 10/15 | €186,313 | €230,790 | +€44,477 | +23.9% |
| Contributions | 10/11 | €131,500 | €131,500 | = | 0.0% |
| Capital | 10 | €131,500 | €131,500 | = | 0.0% |
| Issued capital | 100 | €131,500 | €131,500 | = | 0.0% |
| Reserves | 13 | €13,150 | €13,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,150 | €13,150 | = | 0.0% |
| Legal reserve | 130 | €13,150 | €13,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,663 | €86,140 | +€44,477 | +107% |
| Amounts payable | 17/49 | €4,137 | €4,180 | +€43 | +1.0% |
| Amounts payable within one year | 42/48 | €4,137 | €4,180 | +€43 | +1.0% |
| Trade debts | 44 | €2,240 | €2,127 | -€113 | -5.0% |
| Suppliers | 440/4 | €2,240 | €2,127 | -€113 | -5.0% |
| Taxes, remuneration and social security | 45 | €1,898 | €2,053 | +€156 | +8.2% |
| Taxes | 450/3 | €1,898 | €2,053 | +€156 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,742 | €1,742 | = | 0.0% |
| Other operating charges | 640/8 | €3,731 | €3,316 | -€415 | -11.1% |
| Gross operating margin | 9900 | €61,280 | €64,840 | +€3,561 | +5.8% |
| Operating profit (loss) | 9901 | €55,807 | €59,782 | +€3,975 | +7.1% |
| Financial charges | 65/66B | €617 | €480 | -€136 | -22.1% |
| Recurring financial charges | 65 | €617 | €480 | -€136 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €55,190 | €59,302 | +€4,112 | +7.5% |
| Income taxes | 67/77 | €13,798 | €14,826 | +€1,028 | +7.5% |
| Profit (loss) for the period | 9904 | €41,393 | €44,477 | +€3,084 | +7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €41,393 | €44,477 | +€3,084 | +7.5% |
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 22 October 2026 via checked.be.