Dr.Robert Ickx: 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.
Dr.Robert Ickx
Largest movements
- Receivables within one year +€119,717
up €119,717 (+45.7%), from €262,152 to €381,869
- Tangible fixed assets -€60,918
down €60,918 (-9.7%), from €630,583 to €569,665
of which Land and buildings: -€38,607
- Cash +€25,845
up €25,845 (+49.9%), from €51,827 to €77,672
mainly Net result for the year (+€201,753) and Depreciation (+€63,717)
- Reserves +€201,753
up €201,753 (+13.9%), from €1.5m to €1.7m
- Debts after one year -€121,636
down €121,636 (-72.6%), from €167,564 to €45,929
- Gross operating margin +€34,088
up €34,088 (+10.9%), from €311,920 to €346,009
- Taxes +€12,352
up €12,352 (+14.9%), from €82,982 to €95,333
- Financial charges -€4,822
down €4,822 (-36.3%), from €13,273 to €8,451
- Other operating charges -€4,672
down €4,672 (-45.6%), from €10,243 to €5,572
- Depreciation +€4,268
up €4,268 (+7.2%), from €59,449 to €63,717
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 | €1,893,577 | €1,979,784 | +€86,207 | +4.6% |
| Fixed assets | 21/28 | €630,683 | €569,765 | -€60,918 | -9.7% |
| Tangible fixed assets | 22/27 | €630,583 | €569,665 | -€60,918 | -9.7% |
| Land and buildings | 22 | €528,655 | €490,047 | -€38,607 | -7.3% |
| Plant, machinery and equipment | 23 | - | €2,387 | +€2,387 | |
| Furniture and vehicles | 24 | €101,928 | €77,231 | -€24,698 | -24.2% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €1,262,894 | €1,410,019 | +€147,125 | +11.6% |
| Amounts receivable after more than one year | 29 | €843,800 | €843,800 | = | 0.0% |
| Other amounts receivable | 291 | €843,800 | €843,800 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €262,152 | €381,869 | +€119,717 | +45.7% |
| Other amounts receivable | 41 | €262,152 | €381,869 | +€119,717 | +45.7% |
| Cash at bank and in hand | 54/58 | €51,827 | €77,672 | +€25,845 | +49.9% |
| Deferred charges and accrued income | 490/1 | €105,115 | €106,678 | +€1,563 | +1.5% |
| Total equity and liabilities | 10/49 | €1,893,577 | €1,979,784 | +€86,207 | +4.6% |
| Equity | 10/15 | €1,465,256 | €1,667,008 | +€201,753 | +13.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,452,856 | €1,654,608 | +€201,753 | +13.9% |
| Distributable reserves | 133 | €1,452,856 | €1,654,608 | +€201,753 | +13.9% |
| Amounts payable | 17/49 | €428,321 | €312,776 | -€115,546 | -27.0% |
| Amounts payable after more than one year | 17 | €167,564 | €45,929 | -€121,636 | -72.6% |
| Financial debts | 170/4 | €167,564 | €45,929 | -€121,636 | -72.6% |
| Amounts payable within one year | 42/48 | €260,757 | €266,847 | +€6,090 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €80,409 | €84,846 | +€4,437 | +5.5% |
| Trade debts | 44 | €3,250 | €3,686 | +€436 | +13.4% |
| Suppliers | 440/4 | €3,250 | €3,686 | +€436 | +13.4% |
| Taxes, remuneration and social security | 45 | €177,098 | €178,315 | +€1,217 | +0.7% |
| Taxes | 450/3 | €177,098 | €178,315 | +€1,217 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,449 | €63,717 | +€4,268 | +7.2% |
| Other operating charges | 640/8 | €10,243 | €5,572 | -€4,672 | -45.6% |
| Gross operating margin | 9900 | €311,920 | €346,009 | +€34,088 | +10.9% |
| Operating profit (loss) | 9901 | €242,228 | €276,720 | +€34,492 | +14.2% |
| Financial income | 75/76B | €24,868 | €28,817 | +€3,949 | +15.9% |
| Recurring financial income | 75 | €24,868 | €28,817 | +€3,949 | +15.9% |
| Financial charges | 65/66B | €13,273 | €8,451 | -€4,822 | -36.3% |
| Recurring financial charges | 65 | €13,273 | €8,451 | -€4,822 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €253,822 | €297,086 | +€43,264 | +17.0% |
| Income taxes | 67/77 | €82,982 | €95,333 | +€12,352 | +14.9% |
| Profit (loss) for the period | 9904 | €170,841 | €201,753 | +€30,912 | +18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €170,841 | €201,753 | +€30,912 | +18.1% |
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 29 October 2026 via checked.be.