IC-Belgium: 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.
IC-Belgium
Largest movements
- Intangible fixed assets -€13,536
down €13,536 (-13.2%), from €102,619 to €89,083
- Receivables within one year +€6,177
new in 2025: €6,177
- Cash +€2,883
up €2,883 (+81.0%), from €3,561 to €6,445
mainly Depreciation (+€17,358) and Net result for the year (+€15,774)
- Other debts -€22,382
down €22,382 (-74.7%), from €29,963 to €7,581
- Profit (loss) carried forward +€15,774
up €15,774 (+22.4%), from €70,545 to €86,318
- Gross operating margin -€20,892
down €20,892 (-38.6%), from €54,072 to €33,179
- Financial income +€7,360
new in 2025: €7,360
of which Financial income: +€7,360
- Depreciation -€1,930
down €1,930 (-10.0%), from €19,287 to €17,358
- Taxes +€719
up €719 (+11.9%), from €6,071 to €6,790
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 | €108,554 | €103,490 | -€5,064 | -4.7% |
| Fixed assets | 21/28 | €104,531 | €90,755 | -€13,776 | -13.2% |
| Intangible fixed assets | 21 | €102,619 | €89,083 | -€13,536 | -13.2% |
| Tangible fixed assets | 22/27 | €1,912 | €1,672 | -€241 | -12.6% |
| Plant, machinery and equipment | 23 | €497 | €38 | -€459 | -92.4% |
| Furniture and vehicles | 24 | €1,415 | €1,634 | +€218 | +15.4% |
| Current assets | 29/58 | €4,022 | €12,735 | +€8,712 | +216.6% |
| Amounts receivable within one year | 40/41 | - | €6,177 | +€6,177 | |
| Trade receivables | 40 | - | €6,177 | +€6,177 | |
| Cash at bank and in hand | 54/58 | €3,561 | €6,445 | +€2,883 | +81.0% |
| Deferred charges and accrued income | 490/1 | €461 | €113 | -€348 | -75.5% |
| Total equity and liabilities | 10/49 | €108,554 | €103,490 | -€5,064 | -4.7% |
| Equity | 10/15 | €71,645 | €87,418 | +€15,774 | +22.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,545 | €86,318 | +€15,774 | +22.4% |
| Amounts payable | 17/49 | €36,909 | €16,072 | -€20,838 | -56.5% |
| Amounts payable within one year | 42/48 | €36,909 | €16,072 | -€20,838 | -56.5% |
| Trade debts | 44 | €876 | €1,700 | +€825 | +94.2% |
| Suppliers | 440/4 | €876 | €1,700 | +€825 | +94.2% |
| Taxes, remuneration and social security | 45 | €6,071 | €6,790 | +€719 | +11.9% |
| Taxes | 450/3 | €6,071 | €6,790 | +€719 | +11.9% |
| Other amounts payable | 47/48 | €29,963 | €7,581 | -€22,382 | -74.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,287 | €17,358 | -€1,930 | -10.0% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €54,072 | €33,179 | -€20,892 | -38.6% |
| Operating profit (loss) | 9901 | €34,400 | €15,434 | -€18,966 | -55.1% |
| Financial income | 75/76B | - | €7,360 | +€7,360 | |
| Recurring financial income | 75 | - | €7,360 | +€7,360 | |
| Non-recurring financial income | 76B | - | €7,360 | +€7,360 | |
| Financial charges | 65/66B | €223 | €230 | +€7 | +3.3% |
| Recurring financial charges | 65 | €223 | €230 | +€7 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | €34,177 | €22,564 | -€11,613 | -34.0% |
| Income taxes | 67/77 | €6,071 | €6,790 | +€719 | +11.9% |
| Profit (loss) for the period | 9904 | €28,106 | €15,774 | -€12,332 | -43.9% |
| Profit (loss) for the period to be appropriated | 9905 | €28,106 | €15,774 | -€12,332 | -43.9% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.