INCOS: 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.
INCOS
Largest movements
- Current investments -€49,762
down €49,762 (-100.0%), from €49,762 to €0
- Cash +€23,463
up €23,463 (+29.9%), from €78,501 to €101,964
mainly Current investments (+€49,762) and Depreciation (+€20,540)
- Receivables within one year -€15,687
down €15,687 (-53.4%), from €29,387 to €13,700
of which Other amounts receivable: -€15,935
- Tangible fixed assets -€7,668
down €7,668 (-9.2%), from €83,051 to €75,383
of which Furniture and vehicles: -€5,713
- Receivables after one year +€6,192
up €6,192 (+2.6%), from €239,081 to €245,274
- Profit (loss) carried forward -€36,544
new in 2025: -€36,544
- Provisions -€14,235
down €14,235 (-9.4%), from €151,100 to €136,865
- Trade debts +€7,547
up €7,547 (+150.9%), from €5,000 to €12,547
- Financial charges +€47,438
up €47,438 (+237.9%), from €19,939 to €67,376
- Gross operating margin +€5,950
up €5,950 (+21.8%), from €27,331 to €33,280
- Provisions -€3,789
down €3,789 (-36.3%), from -€10,446 to -€14,235
- Financial income +€3,620
up €3,620 (+58.3%), from €6,210 to €9,830
- Taxes +€1,689
up €1,689 (+932.4%), from €181 to €1,870
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 | €479,782 | €436,679 | -€43,103 | -9.0% |
| Fixed assets | 21/28 | €83,051 | €75,383 | -€7,668 | -9.2% |
| Tangible fixed assets | 22/27 | €83,051 | €75,383 | -€7,668 | -9.2% |
| Land and buildings | 22 | €72,981 | €71,512 | -€1,469 | -2.0% |
| Plant, machinery and equipment | 23 | €2,375 | €1,889 | -€486 | -20.5% |
| Furniture and vehicles | 24 | €7,695 | €1,982 | -€5,713 | -74.2% |
| Current assets | 29/58 | €396,731 | €361,296 | -€35,435 | -8.9% |
| Amounts receivable after more than one year | 29 | €239,081 | €245,274 | +€6,192 | +2.6% |
| Other amounts receivable | 291 | €239,081 | €245,274 | +€6,192 | +2.6% |
| Amounts receivable within one year | 40/41 | €29,387 | €13,700 | -€15,687 | -53.4% |
| Trade receivables | 40 | - | €248 | +€248 | |
| Other amounts receivable | 41 | €29,387 | €13,452 | -€15,935 | -54.2% |
| Current investments | 50/53 | €49,762 | €0 | -€49,762 | -100.0% |
| Cash at bank and in hand | 54/58 | €78,501 | €101,964 | +€23,463 | +29.9% |
| Deferred charges and accrued income | 490/1 | - | €359 | +€359 | |
| Total equity and liabilities | 10/49 | €479,782 | €436,679 | -€43,103 | -9.0% |
| Equity | 10/15 | €323,502 | €286,958 | -€36,544 | -11.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €261,502 | €261,502 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €255,302 | €255,302 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€36,544 | -€36,544 | |
| Provisions and deferred taxes | 16 | €151,100 | €136,865 | -€14,235 | -9.4% |
| Provisions for liabilities and charges | 160/5 | €151,100 | €136,865 | -€14,235 | -9.4% |
| Other liabilities and charges | 164/5 | €151,100 | €136,865 | -€14,235 | -9.4% |
| Amounts payable | 17/49 | €5,180 | €12,855 | +€7,676 | +148.2% |
| Amounts payable within one year | 42/48 | €5,180 | €12,765 | +€7,586 | +146.5% |
| Trade debts | 44 | €5,000 | €12,547 | +€7,547 | +150.9% |
| Suppliers | 440/4 | €5,000 | €12,547 | +€7,547 | +150.9% |
| Taxes, remuneration and social security | 45 | €180 | €219 | +€39 | +21.7% |
| Taxes | 450/3 | €180 | €219 | +€39 | +21.7% |
| Accrued charges and deferred income | 492/3 | - | €90 | +€90 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,771 | €20,540 | -€230 | -1.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€10,446 | -€14,235 | -€3,789 | -36.3% |
| Other operating charges | 640/8 | €3,096 | €2,611 | -€485 | -15.7% |
| Non-recurring operating charges | 66A | - | €1,492 | +€1,492 | |
| Gross operating margin | 9900 | €27,331 | €33,280 | +€5,950 | +21.8% |
| Operating profit (loss) | 9901 | €13,910 | €22,872 | +€8,962 | +64.4% |
| Financial income | 75/76B | €6,210 | €9,830 | +€3,620 | +58.3% |
| Recurring financial income | 75 | €6,210 | €9,830 | +€3,620 | +58.3% |
| Financial charges | 65/66B | €19,939 | €67,376 | +€47,438 | +237.9% |
| Recurring financial charges | 65 | €19,939 | €67,376 | +€47,438 | +237.9% |
| Profit (loss) for the period before taxes | 9903 | €181 | -€34,674 | -€34,855 | |
| Income taxes | 67/77 | €181 | €1,870 | +€1,689 | +932.4% |
| Profit (loss) for the period | 9904 | €0 | -€36,544 | -€36,544 | |
| Profit (loss) for the period to be appropriated | 9905 | €0 | -€36,544 | -€36,544 |
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 30 September 2026 via checked.be.