I.CY: 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.CY
Largest movements
- Cash -€31,744
down €31,744 (-41.6%), from €76,394 to €44,650
mainly Tax, wage and social debts (-€35,875) and Investment in fixed assets (net) (-€20,582)
- Receivables within one year -€20,559
no longer reported in 2025 (was €20,559)
- Tangible fixed assets +€16,808
up €16,808 (+111.0%), from €15,136 to €31,944
of which Other tangible fixed assets: +€17,756
- Current investments +€10,574
up €10,574 (+17.3%), from €61,004 to €71,578
- Intangible fixed assets -€2,284
down €2,284 (-21.0%), from €10,885 to €8,601
- Tax, wage and social debts -€35,875
down €35,875 (-76.7%), from €46,771 to €10,896
- Profit (loss) carried forward +€10,798
up €10,798 (+8.3%), from €130,337 to €141,135
- Gross operating margin -€31,554
down €31,554 (-63.6%), from €49,587 to €18,034
- Taxes -€8,129
down €8,129 (-84.7%), from €9,593 to €1,463
- Depreciation +€3,498
up €3,498 (+136.7%), from €2,559 to €6,058
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 | €183,978 | €157,467 | -€26,512 | -14.4% |
| Fixed assets | 21/28 | €26,021 | €40,546 | +€14,524 | +55.8% |
| Intangible fixed assets | 21 | €10,885 | €8,601 | -€2,284 | -21.0% |
| Tangible fixed assets | 22/27 | €15,136 | €31,944 | +€16,808 | +111.0% |
| Furniture and vehicles | 24 | €2,117 | €2,409 | +€292 | +13.8% |
| Other tangible fixed assets | 26 | €11,779 | €29,535 | +€17,756 | +150.7% |
| Assets under construction and advance payments | 27 | €1,240 | - | -€1,240 | |
| Current assets | 29/58 | €157,957 | €116,921 | -€41,036 | -26.0% |
| Amounts receivable within one year | 40/41 | €20,559 | - | -€20,559 | |
| Trade receivables | 40 | €20,559 | - | -€20,559 | |
| Current investments | 50/53 | €61,004 | €71,578 | +€10,574 | +17.3% |
| Cash at bank and in hand | 54/58 | €76,394 | €44,650 | -€31,744 | -41.6% |
| Deferred charges and accrued income | 490/1 | - | €694 | +€694 | |
| Total equity and liabilities | 10/49 | €183,978 | €157,467 | -€26,512 | -14.4% |
| Equity | 10/15 | €134,337 | €145,135 | +€10,798 | +8.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €130,337 | €141,135 | +€10,798 | +8.3% |
| Amounts payable | 17/49 | €49,641 | €12,332 | -€37,310 | -75.2% |
| Amounts payable within one year | 42/48 | €49,641 | €12,332 | -€37,310 | -75.2% |
| Financial debts | 43 | €773 | €888 | +€115 | +14.9% |
| Credit institutions | 430/8 | €773 | €888 | +€115 | +14.9% |
| Trade debts | 44 | €1,965 | €519 | -€1,446 | -73.6% |
| Suppliers | 440/4 | €1,965 | €519 | -€1,446 | -73.6% |
| Taxes, remuneration and social security | 45 | €46,771 | €10,896 | -€35,875 | -76.7% |
| Taxes | 450/3 | €46,771 | €10,896 | -€35,875 | -76.7% |
| Other amounts payable | 47/48 | €133 | €28 | -€104 | -78.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,559 | €6,058 | +€3,498 | +136.7% |
| Other operating charges | 640/8 | €433 | €446 | +€12 | +2.9% |
| Gross operating margin | 9900 | €49,587 | €18,034 | -€31,554 | -63.6% |
| Operating profit (loss) | 9901 | €46,595 | €11,530 | -€35,064 | -75.3% |
| Financial income | 75/76B | €1,004 | €820 | -€184 | -18.4% |
| Recurring financial income | 75 | €1,004 | €820 | -€184 | -18.4% |
| Financial charges | 65/66B | €196 | €89 | -€107 | -54.7% |
| Recurring financial charges | 65 | €196 | €89 | -€107 | -54.7% |
| Profit (loss) for the period before taxes | 9903 | €47,403 | €12,261 | -€35,142 | -74.1% |
| Income taxes | 67/77 | €9,593 | €1,463 | -€8,129 | -84.7% |
| Profit (loss) for the period | 9904 | €37,810 | €10,798 | -€27,012 | -71.4% |
| Profit (loss) for the period to be appropriated | 9905 | €37,810 | €10,798 | -€27,012 | -71.4% |
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.