I.C.H.: 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.
I.C.H.
Largest movements
- Tangible fixed assets -€52,739
down €52,739 (-36.3%), from €145,087 to €92,348
of which Furniture and vehicles: -€39,993
- Receivables within one year -€41,176
down €41,176 (-47.6%), from €86,546 to €45,370
of which Trade receivables: -€24,267
- Intangible fixed assets -€12,000
down €12,000 (-33.3%), from €36,000 to €24,000
- Cash -€10,990
no longer reported in 2025 (was €10,990)
mainly Trade debts (-€38,292) and Other debts (-€37,442)
- Deferred charges and accrued income +€5,143
up €5,143 (+345%), from €1,491 to €6,634
- Trade debts -€38,292
down €38,292 (-30.8%), from €124,419 to €86,127
- Other debts -€37,442
down €37,442 (-55.0%), from €68,105 to €30,664
- Debts after one year -€33,097
down €33,097 (-24.9%), from €133,097 to €100,000
of which Financial debts: -€33,097
- Profit (loss) carried forward +€11,019
up €11,019 (+16.6%), from -€66,312 to -€55,293
- Tax, wage and social debts -€8,905
no longer reported in 2025 (was €8,905)
- Gross operating margin +€27,683
up €27,683 (+18.8%), from €147,411 to €175,094
- Staff costs -€25,878
down €25,878 (-16.6%), from €155,427 to €129,549
- Other operating charges -€7,308
down €7,308 (-89.6%), from €8,155 to €846
- Depreciation +€2,201
up €2,201 (+7.4%), from €29,596 to €31,796
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 | €307,885 | €196,549 | -€111,336 | -36.2% |
| Fixed assets | 21/28 | €189,087 | €124,348 | -€64,739 | -34.2% |
| Intangible fixed assets | 21 | €36,000 | €24,000 | -€12,000 | -33.3% |
| Tangible fixed assets | 22/27 | €145,087 | €92,348 | -€52,739 | -36.3% |
| Land and buildings | 22 | €26,364 | €22,960 | -€3,405 | -12.9% |
| Plant, machinery and equipment | 23 | €62,142 | €52,801 | -€9,341 | -15.0% |
| Furniture and vehicles | 24 | €56,580 | €16,587 | -€39,993 | -70.7% |
| Financial fixed assets | 28 | €8,000 | €8,000 | = | 0.0% |
| Current assets | 29/58 | €118,799 | €72,201 | -€46,598 | -39.2% |
| Stocks and contracts in progress | 3 | €19,772 | €20,197 | +€425 | +2.1% |
| Stocks | 30/36 | €19,772 | €20,197 | +€425 | +2.1% |
| Amounts receivable within one year | 40/41 | €86,546 | €45,370 | -€41,176 | -47.6% |
| Trade receivables | 40 | €64,586 | €40,318 | -€24,267 | -37.6% |
| Other amounts receivable | 41 | €21,960 | €5,052 | -€16,908 | -77.0% |
| Cash at bank and in hand | 54/58 | €10,990 | - | -€10,990 | |
| Deferred charges and accrued income | 490/1 | €1,491 | €6,634 | +€5,143 | +345% |
| Total equity and liabilities | 10/49 | €307,885 | €196,549 | -€111,336 | -36.2% |
| Equity | 10/15 | -€45,852 | -€34,833 | +€11,019 | +24.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,312 | -€55,293 | +€11,019 | +16.6% |
| Amounts payable | 17/49 | €353,737 | €231,382 | -€122,355 | -34.6% |
| Amounts payable after more than one year | 17 | €133,097 | €100,000 | -€33,097 | -24.9% |
| Financial debts | 170/4 | €33,097 | - | -€33,097 | |
| Other amounts payable | 178/9 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €220,641 | €131,382 | -€89,259 | -40.5% |
| Current portion of amounts payable after more than one year | 42 | €19,212 | €14,592 | -€4,620 | -24.0% |
| Trade debts | 44 | €124,419 | €86,127 | -€38,292 | -30.8% |
| Suppliers | 440/4 | €124,419 | €86,127 | -€38,292 | -30.8% |
| Taxes, remuneration and social security | 45 | €8,905 | - | -€8,905 | |
| Taxes | 450/3 | €8,905 | - | -€8,905 | |
| Other amounts payable | 47/48 | €68,105 | €30,664 | -€37,442 | -55.0% |
| Remuneration, social security and pensions | 62 | €155,427 | €129,549 | -€25,878 | -16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,596 | €31,796 | +€2,201 | +7.4% |
| Other operating charges | 640/8 | €8,155 | €846 | -€7,308 | -89.6% |
| Operating charges capitalised as restructuring costs | 649 | - | -€823 | -€823 | |
| Gross operating margin | 9900 | €147,411 | €175,094 | +€27,683 | +18.8% |
| Operating profit (loss) | 9901 | -€45,765 | €13,726 | +€59,491 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €4,402 | €2,708 | -€1,694 | -38.5% |
| Recurring financial charges | 65 | €4,402 | €2,708 | -€1,694 | -38.5% |
| Profit (loss) for the period before taxes | 9903 | -€50,167 | €11,019 | +€61,186 | |
| Profit (loss) for the period | 9904 | -€50,167 | €11,019 | +€61,186 | |
| Profit (loss) for the period to be appropriated | 9905 | -€50,167 | €11,019 | +€61,186 |
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 25 October 2026 via checked.be.