IC Invest: 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 Invest
Largest movements
- Tangible fixed assets +€37,939
up €37,939 (+53.1%), from €71,472 to €109,411
of which Leasing and similar rights: +€36,185
- Receivables within one year +€23,177
up €23,177 (+11.3%), from €204,641 to €227,818
of which Other amounts receivable: +€14,991
- Other debts +€58,044
up €58,044 (+52.0%), from €111,719 to €169,763
- Trade debts -€6,815
down €6,815 (-82.6%), from €8,251 to €1,436
- Short-term financial debts +€5,136
up €5,136 (+42.8%), from €11,987 to €17,123
- Gross operating margin -€8,389
down €8,389 (-16.1%), from €52,014 to €43,625
- Taxes -€5,118
down €5,118 (-89.6%), from €5,710 to €592
- Depreciation +€3,716
up €3,716 (+14.5%), from €25,715 to €29,431
- Financial charges +€3,100
up €3,100 (+40.4%), from €7,669 to €10,769
- Other operating charges +€1,004
up €1,004 (+67.1%), from €1,496 to €2,500
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €341,243 | €401,048 | +€59,805 | +17.5% |
| Fixed assets | 21/28 | €131,472 | €169,411 | +€37,939 | +28.9% |
| Tangible fixed assets | 22/27 | €71,472 | €109,411 | +€37,939 | +53.1% |
| Furniture and vehicles | 24 | €71,472 | €73,226 | +€1,754 | +2.5% |
| Leasing and similar rights | 25 | - | €36,185 | +€36,185 | |
| Financial fixed assets | 28 | €60,000 | €60,000 | = | 0.0% |
| Current assets | 29/58 | €209,771 | €231,637 | +€21,866 | +10.4% |
| Stocks and contracts in progress | 3 | €1,485 | €1,485 | = | 0.0% |
| Stocks | 30/36 | €1,485 | €1,485 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €204,641 | €227,818 | +€23,177 | +11.3% |
| Trade receivables | 40 | €9,975 | €18,161 | +€8,186 | +82.1% |
| Other amounts receivable | 41 | €194,666 | €209,657 | +€14,991 | +7.7% |
| Cash at bank and in hand | 54/58 | €191 | - | -€191 | |
| Deferred charges and accrued income | 490/1 | €3,454 | €2,334 | -€1,120 | -32.4% |
| Total equity and liabilities | 10/49 | €341,243 | €401,048 | +€59,805 | +17.5% |
| Equity | 10/15 | €110,025 | €110,359 | +€334 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €91,425 | €91,759 | +€334 | +0.4% |
| Distributable reserves | 133 | €91,425 | €91,759 | +€334 | +0.4% |
| Amounts payable | 17/49 | €231,218 | €290,689 | +€59,471 | +25.7% |
| Amounts payable after more than one year | 17 | €51,476 | €54,958 | +€3,482 | +6.8% |
| Financial debts | 170/4 | €51,476 | €54,958 | +€3,482 | +6.8% |
| Amounts payable within one year | 42/48 | €175,055 | €230,223 | +€55,168 | +31.5% |
| Current portion of amounts payable after more than one year | 42 | €35,667 | €33,340 | -€2,327 | -6.5% |
| Financial debts | 43 | €11,987 | €17,123 | +€5,136 | +42.8% |
| Credit institutions | 430/8 | €11,987 | €17,123 | +€5,136 | +42.8% |
| Trade debts | 44 | €8,251 | €1,436 | -€6,815 | -82.6% |
| Suppliers | 440/4 | €8,251 | €1,436 | -€6,815 | -82.6% |
| Taxes, remuneration and social security | 45 | €7,431 | €8,561 | +€1,130 | +15.2% |
| Taxes | 450/3 | €3,884 | €8,561 | +€4,677 | +120.4% |
| Remuneration and social security | 454/9 | €3,547 | - | -€3,547 | |
| Other amounts payable | 47/48 | €111,719 | €169,763 | +€58,044 | +52.0% |
| Accrued charges and deferred income | 492/3 | €4,687 | €5,508 | +€821 | +17.5% |
| Non-recurring operating income | 76A | - | €4,465 | +€4,465 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,715 | €29,431 | +€3,716 | +14.5% |
| Other operating charges | 640/8 | €1,496 | €2,500 | +€1,004 | +67.1% |
| Gross operating margin | 9900 | €52,014 | €43,625 | -€8,389 | -16.1% |
| Operating profit (loss) | 9901 | €24,803 | €11,694 | -€13,109 | -52.9% |
| Financial income | 75/76B | €2 | €1 | -€1 | -50.0% |
| Recurring financial income | 75 | €2 | €1 | -€1 | -50.0% |
| Financial charges | 65/66B | €7,669 | €10,769 | +€3,100 | +40.4% |
| Recurring financial charges | 65 | €7,669 | €10,769 | +€3,100 | +40.4% |
| Profit (loss) for the period before taxes | 9903 | €17,136 | €926 | -€16,210 | -94.6% |
| Income taxes | 67/77 | €5,710 | €592 | -€5,118 | -89.6% |
| Profit (loss) for the period | 9904 | €11,426 | €334 | -€11,092 | -97.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,426 | €334 | -€11,092 | -97.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.