IC PROJECT: 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 PROJECT
Largest movements
- Cash +€106,580
up €106,580 (+1522.2%), from €7,002 to €113,582
mainly Other debts (+€121,143) and Net result for the year (+€48,399)
- Receivables within one year +€34,800
up €34,800 (+14.0%), from €249,408 to €284,208
of which Trade receivables: +€115,978
- Other debts +€121,143
up €121,143 (+1213.4%), from €9,984 to €131,127
- Trade debts -€51,295
down €51,295 (-33.4%), from €153,360 to €102,064
- Profit (loss) carried forward +€30,212
up €30,212 (+37.1%), from €81,510 to €111,722
- Reserves +€18,187
new in 2025: €18,187
- Tax, wage and social debts +€14,769
up €14,769 (+228.6%), from €6,462 to €21,231
- Gross operating margin -€51,200
down €51,200 (-46.1%), from €111,026 to €59,825
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 | €261,216 | €400,294 | +€139,077 | +53.2% |
| Formation expenses | 20 | €573 | €287 | -€287 | -50.0% |
| Fixed assets | 21/28 | €4,233 | €2,217 | -€2,017 | -47.6% |
| Tangible fixed assets | 22/27 | €4,233 | €2,217 | -€2,017 | -47.6% |
| Furniture and vehicles | 24 | €4,233 | €2,217 | -€2,017 | -47.6% |
| Current assets | 29/58 | €256,410 | €397,790 | +€141,381 | +55.1% |
| Amounts receivable within one year | 40/41 | €249,408 | €284,208 | +€34,800 | +14.0% |
| Trade receivables | 40 | €168,231 | €284,208 | +€115,978 | +68.9% |
| Other amounts receivable | 41 | €81,177 | - | -€81,177 | |
| Cash at bank and in hand | 54/58 | €7,002 | €113,582 | +€106,580 | +1522.2% |
| Total equity and liabilities | 10/49 | €261,216 | €400,294 | +€139,077 | +53.2% |
| Equity | 10/15 | €91,410 | €139,809 | +€48,399 | +52.9% |
| Contributions | 10/11 | €9,900 | €9,900 | = | 0.0% |
| Capital | 10 | €9,900 | €9,900 | = | 0.0% |
| Issued capital | 100 | €9,900 | €9,900 | = | 0.0% |
| Reserves | 13 | - | €18,187 | +€18,187 | |
| Tax-exempt reserves | 132 | - | €18,187 | +€18,187 | |
| Profit (loss) carried forward | 14 | €81,510 | €111,722 | +€30,212 | +37.1% |
| Provisions and deferred taxes | 16 | - | €6,062 | +€6,062 | |
| Deferred taxes | 168 | - | €6,062 | +€6,062 | |
| Amounts payable | 17/49 | €169,806 | €254,423 | +€84,617 | +49.8% |
| Amounts payable within one year | 42/48 | €169,806 | €254,423 | +€84,617 | +49.8% |
| Trade debts | 44 | €153,360 | €102,064 | -€51,295 | -33.4% |
| Suppliers | 440/4 | €153,360 | €102,064 | -€51,295 | -33.4% |
| Taxes, remuneration and social security | 45 | €6,462 | €21,231 | +€14,769 | +228.6% |
| Taxes | 450/3 | €6,462 | €21,231 | +€14,769 | +228.6% |
| Other amounts payable | 47/48 | €9,984 | €131,127 | +€121,143 | +1213.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,103 | €2,303 | +€200 | +9.5% |
| Other operating charges | 640/8 | €3,290 | €2,244 | -€1,046 | -31.8% |
| Gross operating margin | 9900 | €111,026 | €59,825 | -€51,200 | -46.1% |
| Operating profit (loss) | 9901 | €105,632 | €55,278 | -€50,354 | -47.7% |
| Financial charges | 65/66B | €372 | €292 | -€80 | -21.5% |
| Recurring financial charges | 65 | €372 | €292 | -€80 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €105,260 | €54,985 | -€50,274 | -47.8% |
| Transfer to deferred taxes | 680 | - | €6,062 | +€6,062 | |
| Income taxes | 67/77 | €490 | €525 | +€35 | +7.1% |
| Profit (loss) for the period | 9904 | €104,770 | €48,399 | -€56,371 | -53.8% |
| Transfer to tax-exempt reserves | 689 | - | €18,187 | +€18,187 | |
| Profit (loss) for the period to be appropriated | 9905 | €104,770 | €30,212 | -€74,558 | -71.2% |
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 11 October 2026 via checked.be.