i-CoDe: 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.
i-CoDe
Largest movements
- Cash +€10,308
up €10,308 (+18.3%), from €56,325 to €66,632
mainly Net result for the year (+€20,840) and Depreciation (+€11,447)
- Tangible fixed assets -€5,375
down €5,375 (-17.5%), from €30,715 to €25,340
of which Furniture and vehicles: -€8,245
- Receivables within one year +€5,328
up €5,328 (+61.1%), from €8,719 to €14,046
of which Trade receivables: +€7,405
- Deferred charges and accrued income +€3,683
up €3,683 (+153.7%), from €2,396 to €6,080
- Reserves +€17,021
up €17,021 (+25.1%), from €67,759 to €84,780
- Other debts -€6,815
down €6,815 (-37.5%), from €18,165 to €11,350
- Tax, wage and social debts +€4,125
up €4,125 (+116.0%), from €3,555 to €7,679
of which Taxes: +€4,125
- Contributions -€2,897
down €2,897 (-13.5%), from €21,497 to €18,600
- Trade debts +€2,467
up €2,467 (+120.4%), from €2,049 to €4,516
- Gross operating margin -€7,811
down €7,811 (-15.2%), from €51,232 to €43,422
- Taxes -€1,813
down €1,813 (-16.4%), from €11,057 to €9,244
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 | €113,024 | €126,968 | +€13,944 | +12.3% |
| Fixed assets | 21/28 | €30,715 | €25,340 | -€5,375 | -17.5% |
| Tangible fixed assets | 22/27 | €30,715 | €25,340 | -€5,375 | -17.5% |
| Plant, machinery and equipment | 23 | €3,164 | €6,034 | +€2,870 | +90.7% |
| Furniture and vehicles | 24 | €27,551 | €19,306 | -€8,245 | -29.9% |
| Current assets | 29/58 | €82,309 | €101,627 | +€19,319 | +23.5% |
| Amounts receivable within one year | 40/41 | €8,719 | €14,046 | +€5,328 | +61.1% |
| Trade receivables | 40 | €6,582 | €13,988 | +€7,405 | +112.5% |
| Other amounts receivable | 41 | €2,136 | €59 | -€2,078 | -97.3% |
| Current investments | 50/53 | €14,869 | €14,869 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €56,325 | €66,632 | +€10,308 | +18.3% |
| Deferred charges and accrued income | 490/1 | €2,396 | €6,080 | +€3,683 | +153.7% |
| Total equity and liabilities | 10/49 | €113,024 | €126,968 | +€13,944 | +12.3% |
| Equity | 10/15 | €89,255 | €103,380 | +€14,125 | +15.8% |
| Contributions | 10/11 | €21,497 | €18,600 | -€2,897 | -13.5% |
| Reserves | 13 | €67,759 | €84,780 | +€17,021 | +25.1% |
| Distributable reserves | 133 | €67,759 | €84,780 | +€17,021 | +25.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €23,769 | €23,588 | -€181 | -0.8% |
| Amounts payable within one year | 42/48 | €23,769 | €23,588 | -€181 | -0.8% |
| Financial debts | 43 | €0 | €42 | +€42 | |
| Credit institutions | 430/8 | €0 | €42 | +€42 | |
| Trade debts | 44 | €2,049 | €4,516 | +€2,467 | +120.4% |
| Suppliers | 440/4 | €2,049 | €4,516 | +€2,467 | +120.4% |
| Taxes, remuneration and social security | 45 | €3,555 | €7,679 | +€4,125 | +116.0% |
| Taxes | 450/3 | €3,555 | €7,679 | +€4,125 | +116.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €18,165 | €11,350 | -€6,815 | -37.5% |
| Non-recurring operating income | 76A | - | €1,653 | +€1,653 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,022 | €11,447 | +€424 | +3.9% |
| Other operating charges | 640/8 | €968 | €1,349 | +€382 | +39.4% |
| Gross operating margin | 9900 | €51,232 | €43,422 | -€7,811 | -15.2% |
| Operating profit (loss) | 9901 | €39,242 | €30,625 | -€8,617 | -22.0% |
| Financial income | 75/76B | €24 | €0 | -€24 | -100.0% |
| Recurring financial income | 75 | €24 | €0 | -€24 | -100.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €498 | €541 | +€43 | +8.6% |
| Recurring financial charges | 65 | €498 | €541 | +€43 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | €38,769 | €30,085 | -€8,684 | -22.4% |
| Income taxes | 67/77 | €11,057 | €9,244 | -€1,813 | -16.4% |
| Profit (loss) for the period | 9904 | €27,712 | €20,840 | -€6,871 | -24.8% |
| Profit (loss) for the period to be appropriated | 9905 | €27,712 | €20,840 | -€6,871 | -24.8% |
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 5 October 2026 via checked.be.