INCREMENTUM: 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.
INCREMENTUM
Largest movements
- Receivables within one year -€30,211
down €30,211 (-57.1%), from €52,939 to €22,728
of which Trade receivables: -€20,970
- Cash +€18,741
up €18,741 (+27.2%), from €69,010 to €87,750
mainly Other debts (+€81,943) and Receivables within one year (+€30,211)
- Deferred charges and accrued income -€12,459
down €12,459 (-95.0%), from €13,120 to €661
- Profit (loss) carried forward -€104,166
down €104,166 (-80.0%), from €130,174 to €26,007
- Other debts +€81,943
up €81,943 (+553.4%), from €14,807 to €96,750
- Debts after one year -€9,950
down €9,950 (-10.2%), from €97,947 to €87,997
of which Financial debts: -€10,848
- Tax, wage and social debts +€5,595
up €5,595 (+24.3%), from €23,055 to €28,649
- Gross operating margin -€53,825
down €53,825 (-56.2%), from €95,737 to €41,912
- Financial charges -€19,201
down €19,201 (-80.3%), from €23,901 to €4,700
- Taxes -€7,996
down €7,996 (-53.3%), from €15,006 to €7,010
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 | €279,844 | €254,528 | -€25,317 | -9.0% |
| Fixed assets | 21/28 | €144,776 | €143,389 | -€1,387 | -1.0% |
| Tangible fixed assets | 22/27 | €144,673 | €142,388 | -€2,285 | -1.6% |
| Land and buildings | 22 | €144,673 | €141,781 | -€2,892 | -2.0% |
| Furniture and vehicles | 24 | - | €607 | +€607 | |
| Financial fixed assets | 28 | €103 | €1,000 | +€898 | +874.7% |
| Current assets | 29/58 | €135,068 | €111,139 | -€23,930 | -17.7% |
| Amounts receivable within one year | 40/41 | €52,939 | €22,728 | -€30,211 | -57.1% |
| Trade receivables | 40 | €35,652 | €14,683 | -€20,970 | -58.8% |
| Other amounts receivable | 41 | €17,287 | €8,045 | -€9,242 | -53.5% |
| Cash at bank and in hand | 54/58 | €69,010 | €87,750 | +€18,741 | +27.2% |
| Deferred charges and accrued income | 490/1 | €13,120 | €661 | -€12,459 | -95.0% |
| Total equity and liabilities | 10/49 | €279,844 | €254,528 | -€25,317 | -9.0% |
| Equity | 10/15 | €132,174 | €28,007 | -€104,166 | -78.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €130,174 | €26,007 | -€104,166 | -80.0% |
| Amounts payable | 17/49 | €147,671 | €226,520 | +€78,850 | +53.4% |
| Amounts payable after more than one year | 17 | €97,947 | €87,997 | -€9,950 | -10.2% |
| Financial debts | 170/4 | €97,947 | €87,099 | -€10,848 | -11.1% |
| Other amounts payable | 178/9 | - | €898 | +€898 | |
| Amounts payable within one year | 42/48 | €48,628 | €137,518 | +€88,891 | +182.8% |
| Current portion of amounts payable after more than one year | 42 | €10,418 | €10,848 | +€429 | +4.1% |
| Trade debts | 44 | €347 | €1,271 | +€924 | +266.2% |
| Suppliers | 440/4 | €347 | €1,271 | +€924 | +266.2% |
| Taxes, remuneration and social security | 45 | €23,055 | €28,649 | +€5,595 | +24.3% |
| Taxes | 450/3 | €23,055 | €28,649 | +€5,595 | +24.3% |
| Other amounts payable | 47/48 | €14,807 | €96,750 | +€81,943 | +553.4% |
| Accrued charges and deferred income | 492/3 | €1,096 | €1,005 | -€91 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,892 | €2,980 | +€88 | +3.0% |
| Other operating charges | 640/8 | €550 | €566 | +€16 | +2.9% |
| Gross operating margin | 9900 | €95,737 | €41,912 | -€53,825 | -56.2% |
| Operating profit (loss) | 9901 | €92,295 | €38,366 | -€53,929 | -58.4% |
| Financial income | 75/76B | - | €185 | +€185 | |
| Recurring financial income | 75 | - | €185 | +€185 | |
| Financial charges | 65/66B | €23,901 | €4,700 | -€19,201 | -80.3% |
| Recurring financial charges | 65 | €23,901 | €4,700 | -€19,201 | -80.3% |
| Profit (loss) for the period before taxes | 9903 | €68,393 | €33,851 | -€34,543 | -50.5% |
| Income taxes | 67/77 | €15,006 | €7,010 | -€7,996 | -53.3% |
| Profit (loss) for the period | 9904 | €53,387 | €26,840 | -€26,547 | -49.7% |
| Profit (loss) for the period to be appropriated | 9905 | €53,387 | €26,840 | -€26,547 | -49.7% |
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.