AICE: 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.
AICE
Largest movements
- Receivables within one year +€296,706
up €296,706 (+63.6%), from €466,336 to €763,042
of which Trade receivables: +€378,078
- Stocks and contracts -€90,013
down €90,013 (-7.7%), from €1.2m to €1.1m
- Cash -€49,503
down €49,503 (-19.1%), from €259,490 to €209,988
mainly Receivables within one year (-€296,706) and Contributions, distributions and other (-€100,000)
- Tangible fixed assets -€24,595
down €24,595 (-21.4%), from €115,156 to €90,560
- Trade debts +€151,392
up €151,392 (+24.0%), from €631,009 to €782,400
- Short-term financial debts -€80,914
down €80,914 (-16.6%), from €488,061 to €407,147
- Tax, wage and social debts +€72,669
up €72,669 (+66.9%), from €108,573 to €181,242
of which Taxes: +€102,449
- Profit (loss) carried forward +€67,162
up €67,162 (+13.5%), from €495,773 to €562,935
- Debts after one year -€50,965
down €50,965 (-53.6%), from €95,141 to €44,176
- Gross operating margin +€330,938
up €330,938 (+59.7%), from €554,075 to €885,013
- Staff costs +€91,222
up €91,222 (+22.9%), from €398,836 to €490,058
- Taxes +€57,551
up €57,551 (+830.6%), from €6,929 to €64,480
- Write-downs +€12,503
new in 2025: €12,503
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 | €2,105,208 | €2,216,934 | +€111,726 | +5.3% |
| Fixed assets | 21/28 | €196,007 | €157,299 | -€38,708 | -19.7% |
| Intangible fixed assets | 21 | €80,851 | €66,739 | -€14,113 | -17.5% |
| Tangible fixed assets | 22/27 | €115,156 | €90,560 | -€24,595 | -21.4% |
| Land and buildings | 22 | €9,017 | €7,946 | -€1,071 | -11.9% |
| Plant, machinery and equipment | 23 | €34,846 | €28,565 | -€6,281 | -18.0% |
| Furniture and vehicles | 24 | €12,133 | €7,130 | -€5,004 | -41.2% |
| Leasing and similar rights | 25 | €59,160 | €46,920 | -€12,240 | -20.7% |
| Current assets | 29/58 | €1,909,201 | €2,059,635 | +€150,434 | +7.9% |
| Stocks and contracts in progress | 3 | €1,172,377 | €1,082,364 | -€90,013 | -7.7% |
| Stocks | 30/36 | €1,172,377 | €1,082,364 | -€90,013 | -7.7% |
| Amounts receivable within one year | 40/41 | €466,336 | €763,042 | +€296,706 | +63.6% |
| Trade receivables | 40 | €383,883 | €761,961 | +€378,078 | +98.5% |
| Other amounts receivable | 41 | €82,453 | €1,081 | -€81,372 | -98.7% |
| Cash at bank and in hand | 54/58 | €259,490 | €209,988 | -€49,503 | -19.1% |
| Deferred charges and accrued income | 490/1 | €10,998 | €4,241 | -€6,757 | -61.4% |
| Total equity and liabilities | 10/49 | €2,105,208 | €2,216,934 | +€111,726 | +5.3% |
| Equity | 10/15 | €550,773 | €617,935 | +€67,162 | +12.2% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €495,773 | €562,935 | +€67,162 | +13.5% |
| Provisions and deferred taxes | 16 | €25,000 | €25,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €25,000 | €25,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €25,000 | €25,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,529,435 | €1,573,999 | +€44,564 | +2.9% |
| Amounts payable after more than one year | 17 | €95,141 | €44,176 | -€50,965 | -53.6% |
| Financial debts | 170/4 | €95,141 | €44,176 | -€50,965 | -53.6% |
| Amounts payable within one year | 42/48 | €1,432,764 | €1,525,723 | +€92,959 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €67,346 | €50,965 | -€16,381 | -24.3% |
| Financial debts | 43 | €488,061 | €407,147 | -€80,914 | -16.6% |
| Credit institutions | 430/8 | €488,061 | €407,147 | -€80,914 | -16.6% |
| Trade debts | 44 | €631,009 | €782,400 | +€151,392 | +24.0% |
| Suppliers | 440/4 | €631,009 | €782,400 | +€151,392 | +24.0% |
| Advances received on contracts in progress | 46 | €77,775 | €43,485 | -€34,290 | -44.1% |
| Taxes, remuneration and social security | 45 | €108,573 | €181,242 | +€72,669 | +66.9% |
| Taxes | 450/3 | €55,483 | €157,932 | +€102,449 | +184.6% |
| Remuneration and social security | 454/9 | €53,090 | €23,311 | -€29,779 | -56.1% |
| Other amounts payable | 47/48 | €60,000 | €60,482 | +€482 | +0.8% |
| Accrued charges and deferred income | 492/3 | €1,530 | €4,100 | +€2,570 | +167.9% |
| Non-recurring operating income | 76A | €9,971 | €17,603 | +€7,632 | +76.5% |
| Remuneration, social security and pensions | 62 | €398,836 | €490,058 | +€91,222 | +22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,818 | €37,981 | -€3,837 | -9.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €12,503 | +€12,503 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€3,000 | - | +€3,000 | |
| Other operating charges | 640/8 | €14,054 | €13,294 | -€760 | -5.4% |
| Non-recurring operating charges | 66A | - | €70,160 | +€70,160 | |
| Gross operating margin | 9900 | €554,075 | €885,013 | +€330,938 | +59.7% |
| Operating profit (loss) | 9901 | €102,367 | €261,017 | +€158,650 | +155.0% |
| Financial income | 75/76B | €43 | €455 | +€412 | +956.6% |
| Recurring financial income | 75 | €43 | €455 | +€412 | +956.6% |
| Financial charges | 65/66B | €34,303 | €29,830 | -€4,473 | -13.0% |
| Recurring financial charges | 65 | €34,303 | €29,830 | -€4,473 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €68,107 | €231,642 | +€163,535 | +240.1% |
| Income taxes | 67/77 | €6,929 | €64,480 | +€57,551 | +830.6% |
| Profit (loss) for the period | 9904 | €61,178 | €167,162 | +€105,984 | +173.2% |
| Profit (loss) for the period to be appropriated | 9905 | €61,178 | €167,162 | +€105,984 | +173.2% |
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 11 October 2026 via checked.be.