CICA: 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.
What changed
CICA
NACE 68.121, Development of residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2,180
2024 · €372,833-€370,653
Equity
€790,883
2024 · €788,702+€2,180
Cash
€15,925
2024 · €89,480-€73,555
Balance sheet total
€3.1m
2024 · €2.9m+€287,416
Largest movements
Assets
- Tangible fixed assets +€446,357
up €446,357 (+25.8%), from €1.7m to €2.2m
of which Land and buildings: +€463,260
- Receivables within one year -€76,597
down €76,597 (-90.3%), from €84,824 to €8,226
- Cash -€73,555
down €73,555 (-82.2%), from €89,480 to €15,925
mainly Investment in fixed assets (net) (-€553,575) and Trade debts (-€29,517)
Equity and liabilities
- Debts after one year +€275,116
up €275,116 (+31.6%), from €871,240 to €1.1m
- Current portion of long-term debt +€32,352
up €32,352 (+23.6%), from €137,067 to €169,419
Income statement
- Gross operating margin -€486,767
down €486,767 (-60.9%), from €799,295 to €312,528
- Financial charges -€19,482
down €19,482 (-19.9%), from €97,911 to €78,429
- Depreciation +€9,388
up €9,388 (+9.6%), from €97,830 to €107,218
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.
Result 2024
€372,833
Gross operating margin
-€486,767
Staff costs
-€3,382
Depreciation
-€9,388
Other operating charges
-€860
Financial income
+€204
Financial charges
+€19,482
Taxes
-€7,715
Deferred taxes and other
+€117,774
Result 2025
€2,180
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.
From operations
+€172,553
Investment
-€553,575
Financing
+€307,468
Cash 2024
€89,480
From operations (derived)
+€172,553
Net result for the year
+€2,180
Depreciation
+€107,218
Receivables within one year
+€76,597
Deferred charges and accrued income
+€8,790
Smaller working-capital items
-€1,715
Trade debts
-€29,517
Tax, wage and social debts
+€3,412
Other debts
+€5,587
Investment (derived)
-€553,575
Investment in fixed assets (net)
-€553,575
Financing
+€307,468
Debts after one year
+€275,116
Current portion of long-term debt
+€32,352
Cash 2025
€15,925
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,851,662 | €3,139,077 | +€287,416 | +10.1% |
| Fixed assets | 21/28 | €2,656,295 | €3,102,653 | +€446,357 | +16.8% |
| Tangible fixed assets | 22/27 | €1,729,912 | €2,176,269 | +€446,357 | +25.8% |
| Land and buildings | 22 | €1,159,571 | €1,622,830 | +€463,260 | +40.0% |
| Plant, machinery and equipment | 23 | €8,450 | €12,560 | +€4,110 | +48.6% |
| Furniture and vehicles | 24 | €50,415 | €30,815 | -€19,600 | -38.9% |
| Leasing and similar rights | 25 | €1,349 | - | -€1,349 | |
| Other tangible fixed assets | 26 | €510,126 | €510,063 | -€63 | 0.0% |
| Financial fixed assets | 28 | €926,384 | €926,384 | = | 0.0% |
| Current assets | 29/58 | €195,366 | €36,425 | -€158,942 | -81.4% |
| Amounts receivable within one year | 40/41 | €84,824 | €8,226 | -€76,597 | -90.3% |
| Trade receivables | 40 | €84,824 | €8,226 | -€76,597 | -90.3% |
| Cash at bank and in hand | 54/58 | €89,480 | €15,925 | -€73,555 | -82.2% |
| Deferred charges and accrued income | 490/1 | €21,063 | €12,273 | -€8,790 | -41.7% |
| Total equity and liabilities | 10/49 | €2,851,662 | €3,139,077 | +€287,416 | +10.1% |
| Equity | 10/15 | €788,702 | €790,883 | +€2,180 | +0.3% |
| Contributions | 10/11 | €69,410 | €69,410 | = | 0.0% |
| Outside capital | 11 | €69,410 | €69,410 | = | 0.0% |
| Other | 1109/19 | €69,410 | €69,410 | = | 0.0% |
| Reserves | 13 | €368,486 | €366,244 | -€2,242 | -0.6% |
| Non-distributable reserves | 130/1 | €6,941 | €6,941 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,941 | €6,941 | = | 0.0% |
| Tax-exempt reserves | 132 | €361,545 | €359,303 | -€2,242 | -0.6% |
| Profit (loss) carried forward | 14 | €350,806 | €355,229 | +€4,423 | +1.3% |
| Provisions and deferred taxes | 16 | €122,008 | €120,853 | -€1,155 | -0.9% |
| Deferred taxes | 168 | €122,008 | €120,853 | -€1,155 | -0.9% |
| Amounts payable | 17/49 | €1,940,952 | €2,227,341 | +€286,390 | +14.8% |
| Amounts payable after more than one year | 17 | €871,240 | €1,146,356 | +€275,116 | +31.6% |
| Financial debts | 170/4 | €871,240 | €1,146,356 | +€275,116 | +31.6% |
| Amounts payable within one year | 42/48 | €1,069,151 | €1,080,985 | +€11,834 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €137,067 | €169,419 | +€32,352 | +23.6% |
| Trade debts | 44 | €69,552 | €40,035 | -€29,517 | -42.4% |
| Suppliers | 440/4 | €69,552 | €40,035 | -€29,517 | -42.4% |
| Taxes, remuneration and social security | 45 | €15,700 | €19,112 | +€3,412 | +21.7% |
| Taxes | 450/3 | €9,800 | €12,620 | +€2,820 | +28.8% |
| Remuneration and social security | 454/9 | €5,900 | €6,492 | +€592 | +10.0% |
| Other amounts payable | 47/48 | €846,833 | €852,419 | +€5,587 | +0.7% |
| Accrued charges and deferred income | 492/3 | €560 | - | -€560 | |
| Remuneration, social security and pensions | 62 | €51,933 | €55,315 | +€3,382 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,830 | €107,218 | +€9,388 | +9.6% |
| Other operating charges | 640/8 | €62,004 | €62,864 | +€860 | +1.4% |
| Gross operating margin | 9900 | €799,295 | €312,528 | -€486,767 | -60.9% |
| Operating profit (loss) | 9901 | €587,529 | €87,131 | -€500,398 | -85.2% |
| Financial income | 75/76B | €9 | €213 | +€204 | +2151.6% |
| Recurring financial income | 75 | €9 | €213 | +€204 | +2151.6% |
| Financial charges | 65/66B | €97,911 | €78,429 | -€19,482 | -19.9% |
| Recurring financial charges | 65 | €97,911 | €78,429 | -€19,482 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €489,627 | €8,915 | -€480,712 | -98.2% |
| Transfer from deferred taxes | 780 | €1,155 | €1,155 | = | 0.0% |
| Transfer to deferred taxes | 680 | €117,774 | - | -€117,774 | |
| Income taxes | 67/77 | €175 | €7,889 | +€7,715 | +4419.1% |
| Profit (loss) for the period | 9904 | €372,833 | €2,180 | -€370,653 | -99.4% |
| Transfer from tax-exempt reserves | 789 | €2,242 | €2,242 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €353,323 | - | -€353,323 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,752 | €4,423 | -€17,329 | -79.7% |
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.