INCOTEC: 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.
INCOTEC
Largest movements
- Cash -€49,160
down €49,160 (-7.7%), from €639,234 to €590,074
mainly Debts after one year (-€47,878) and Investment in fixed assets (net) (-€40,470)
- Receivables within one year +€21,943
up €21,943 (+32.9%), from €66,732 to €88,675
of which Trade receivables: +€17,607
- Tangible fixed assets +€15,580
up €15,580 (+3.6%), from €436,755 to €452,335
of which Furniture and vehicles: +€34,045
- Reserves +€66,050
up €66,050 (+8.1%), from €818,179 to €884,229
of which Distributable reserves: +€66,050
- Debts after one year -€47,878
down €47,878 (-33.8%), from €141,797 to €93,919
- Other debts -€36,739
down €36,739 (-36.5%), from €100,747 to €64,008
- Trade debts +€12,402
up €12,402 (+189%), from €6,570 to €18,973
- Gross operating margin -€50,629
down €50,629 (-28.3%), from €178,661 to €128,033
- Taxes -€21,384
down €21,384 (-41.0%), from €52,162 to €30,778
- Financial income -€11,646
down €11,646 (-92.1%), from €12,647 to €1,001
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 | €1,147,120 | €1,137,654 | -€9,466 | -0.8% |
| Fixed assets | 21/28 | €436,755 | €452,335 | +€15,580 | +3.6% |
| Tangible fixed assets | 22/27 | €436,755 | €452,335 | +€15,580 | +3.6% |
| Land and buildings | 22 | €421,851 | €403,385 | -€18,465 | -4.4% |
| Furniture and vehicles | 24 | €14,904 | €48,950 | +€34,045 | +228% |
| Current assets | 29/58 | €710,365 | €685,319 | -€25,046 | -3.5% |
| Amounts receivable within one year | 40/41 | €66,732 | €88,675 | +€21,943 | +32.9% |
| Trade receivables | 40 | €66,732 | €84,339 | +€17,607 | +26.4% |
| Other amounts receivable | 41 | - | €4,336 | +€4,336 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €639,234 | €590,074 | -€49,160 | -7.7% |
| Deferred charges and accrued income | 490/1 | €4,399 | €6,569 | +€2,171 | +49.3% |
| Total equity and liabilities | 10/49 | €1,147,120 | €1,137,654 | -€9,466 | -0.8% |
| Equity | 10/15 | €830,579 | €896,629 | +€66,050 | +8.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €818,179 | €884,229 | +€66,050 | +8.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €780,679 | €846,729 | +€66,050 | +8.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €316,541 | €241,024 | -€75,516 | -23.9% |
| Amounts payable after more than one year | 17 | €141,797 | €93,919 | -€47,878 | -33.8% |
| Financial debts | 170/4 | €141,797 | €93,919 | -€47,878 | -33.8% |
| Amounts payable within one year | 42/48 | €174,488 | €140,085 | -€34,404 | -19.7% |
| Current portion of amounts payable after more than one year | 42 | €51,016 | €51,833 | +€817 | +1.6% |
| Trade debts | 44 | €6,570 | €18,973 | +€12,402 | +189% |
| Suppliers | 440/4 | €6,570 | €18,973 | +€12,402 | +189% |
| Taxes, remuneration and social security | 45 | €16,155 | €5,271 | -€10,884 | -67.4% |
| Taxes | 450/3 | €16,155 | €3,771 | -€12,384 | -76.7% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €100,747 | €64,008 | -€36,739 | -36.5% |
| Accrued charges and deferred income | 492/3 | €255 | €7,020 | +€6,765 | +2,648% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,199 | €24,890 | +€1,691 | +7.3% |
| Other operating charges | 640/8 | €4,077 | €4,304 | +€227 | +5.6% |
| Gross operating margin | 9900 | €178,661 | €128,033 | -€50,629 | -28.3% |
| Operating profit (loss) | 9901 | €151,385 | €98,838 | -€52,547 | -34.7% |
| Financial income | 75/76B | €12,647 | €1,001 | -€11,646 | -92.1% |
| Recurring financial income | 75 | €12,647 | €1,001 | -€11,646 | -92.1% |
| Financial charges | 65/66B | €3,681 | €3,011 | -€670 | -18.2% |
| Recurring financial charges | 65 | €3,681 | €3,011 | -€670 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €160,351 | €96,828 | -€63,523 | -39.6% |
| Income taxes | 67/77 | €52,162 | €30,778 | -€21,384 | -41.0% |
| Profit (loss) for the period | 9904 | €108,189 | €66,050 | -€42,139 | -38.9% |
| Profit (loss) for the period to be appropriated | 9905 | €108,189 | €66,050 | -€42,139 | -38.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.