InCorDev: 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.
InCorDev
Largest movements
- Cash -€17,689
down €17,689 (-44.6%), from €39,699 to €22,010
mainly Net result for the year (-€255,727) and Debts after one year (-€21,691)
- Receivables within one year -€12,992
down €12,992 (-34.4%), from €37,799 to €24,806
of which Trade receivables: -€8,634
- Other debts +€260,428
up €260,428 (+193%), from €134,977 to €395,406
- Profit (loss) carried forward -€255,727
down €255,727 (-229%), from -€111,895 to -€367,623
- Debts after one year -€21,691
down €21,691 (-15.9%), from €136,585 to €114,893
- Trade debts -€11,276
down €11,276 (-90.3%), from €12,486 to €1,210
- Accrued charges and deferred income -€3,625
down €3,625 (-100%), from €3,625 to €0
- Gross operating margin -€191,844
down €191,844, from €2,310 to -€189,535
- Financial charges +€5,669
up €5,669 (+166%), from €3,408 to €9,078
- Financial income -€2,296
down €2,296 (-100.0%), from €2,296 to €1
- Staff costs +€2,131
up €2,131 (+4.0%), from €53,431 to €55,563
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €342,742 | €311,268 | -€31,474 | -9.2% |
| Fixed assets | 21/28 | €265,245 | €264,220 | -€1,025 | -0.4% |
| Tangible fixed assets | 22/27 | €265,245 | €264,220 | -€1,025 | -0.4% |
| Land and buildings | 22 | €264,220 | €264,220 | = | 0.0% |
| Furniture and vehicles | 24 | €1,025 | €0 | -€1,025 | -100% |
| Current assets | 29/58 | €77,498 | €47,048 | -€30,450 | -39.3% |
| Amounts receivable within one year | 40/41 | €37,799 | €24,806 | -€12,992 | -34.4% |
| Trade receivables | 40 | €22,463 | €13,830 | -€8,634 | -38.4% |
| Other amounts receivable | 41 | €15,335 | €10,977 | -€4,359 | -28.4% |
| Cash at bank and in hand | 54/58 | €39,699 | €22,010 | -€17,689 | -44.6% |
| Deferred charges and accrued income | 490/1 | - | €232 | +€232 | |
| Total equity and liabilities | 10/49 | €342,742 | €311,268 | -€31,474 | -9.2% |
| Equity | 10/15 | €27,140 | -€228,588 | -€255,727 | |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Reserves | 13 | €121,035 | €121,035 | = | 0.0% |
| Distributable reserves | 133 | €121,035 | €121,035 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€111,895 | -€367,623 | -€255,727 | -229% |
| Amounts payable | 17/49 | €315,603 | €539,856 | +€224,253 | +71.1% |
| Amounts payable after more than one year | 17 | €136,585 | €114,893 | -€21,691 | -15.9% |
| Financial debts | 170/4 | €136,585 | €114,893 | -€21,691 | -15.9% |
| Amounts payable within one year | 42/48 | €175,393 | €424,962 | +€249,570 | +142% |
| Current portion of amounts payable after more than one year | 42 | €21,390 | €21,723 | +€333 | +1.6% |
| Trade debts | 44 | €12,486 | €1,210 | -€11,276 | -90.3% |
| Suppliers | 440/4 | €12,486 | €1,210 | -€11,276 | -90.3% |
| Taxes, remuneration and social security | 45 | €6,538 | €6,623 | +€85 | +1.3% |
| Taxes | 450/3 | €11 | €0 | -€11 | -100% |
| Remuneration and social security | 454/9 | €6,527 | €6,623 | +€96 | +1.5% |
| Other amounts payable | 47/48 | €134,977 | €395,406 | +€260,428 | +193% |
| Accrued charges and deferred income | 492/3 | €3,625 | €0 | -€3,625 | -100% |
| Remuneration, social security and pensions | 62 | €53,431 | €55,563 | +€2,131 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,252 | €1,025 | -€1,227 | -54.5% |
| Other operating charges | 640/8 | €357 | €529 | +€172 | +48.2% |
| Gross operating margin | 9900 | €2,310 | -€189,535 | -€191,844 | |
| Operating profit (loss) | 9901 | -€53,730 | -€246,651 | -€192,920 | -359% |
| Financial income | 75/76B | €2,296 | €1 | -€2,296 | -100.0% |
| Recurring financial income | 75 | €2,296 | €1 | -€2,296 | -100.0% |
| Financial charges | 65/66B | €3,408 | €9,078 | +€5,669 | +166% |
| Recurring financial charges | 65 | €3,408 | €9,078 | +€5,669 | +166% |
| Profit (loss) for the period before taxes | 9903 | -€54,842 | -€255,727 | -€200,885 | -366% |
| Profit (loss) for the period | 9904 | -€54,842 | -€255,727 | -€200,885 | -366% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,842 | -€255,727 | -€200,885 | -366% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.