IC PROJECTS: 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 PROJECTS
Largest movements
- Stocks and contracts +€412,345
up €412,345 (+132.3%), from €311,701 to €724,046
- Receivables within one year -€175,449
down €175,449 (-66.4%), from €264,207 to €88,758
of which Other amounts receivable: -€174,804
- Cash -€59,554
down €59,554 (-58.3%), from €102,167 to €42,613
mainly Stocks and contracts (-€412,345) and Tax, wage and social debts (-€3,153)
- Other debts +€160,000
new in 2025: €160,000
- Reserves +€11,841
up €11,841 (+8.7%), from €135,489 to €147,329
- Financial income -€3,393
down €3,393 (-52.2%), from €6,500 to €3,107
- Gross operating margin -€1,691
down €1,691 (-10.5%), from €16,043 to €14,352
- Taxes +€518
up €518 (+10.7%), from €4,842 to €5,360
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 | €678,075 | €855,417 | +€177,342 | +26.2% |
| Current assets | 29/58 | €678,075 | €855,417 | +€177,342 | +26.2% |
| Stocks and contracts in progress | 3 | €311,701 | €724,046 | +€412,345 | +132.3% |
| Contracts in progress | 37 | €311,701 | €724,046 | +€412,345 | +132.3% |
| Amounts receivable within one year | 40/41 | €264,207 | €88,758 | -€175,449 | -66.4% |
| Trade receivables | 40 | €2,393 | €1,748 | -€645 | -27.0% |
| Other amounts receivable | 41 | €261,814 | €87,010 | -€174,804 | -66.8% |
| Cash at bank and in hand | 54/58 | €102,167 | €42,613 | -€59,554 | -58.3% |
| Total equity and liabilities | 10/49 | €678,075 | €855,417 | +€177,342 | +26.2% |
| Equity | 10/15 | €635,489 | €647,329 | +€11,841 | +1.9% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €135,489 | €147,329 | +€11,841 | +8.7% |
| Distributable reserves | 133 | €135,489 | €147,329 | +€11,841 | +8.7% |
| Amounts payable | 17/49 | €42,587 | €208,088 | +€165,501 | +388.6% |
| Amounts payable within one year | 42/48 | €42,587 | €207,328 | +€164,741 | +386.8% |
| Trade debts | 44 | €37,909 | €45,803 | +€7,895 | +20.8% |
| Suppliers | 440/4 | €37,909 | €45,803 | +€7,895 | +20.8% |
| Taxes, remuneration and social security | 45 | €4,678 | €1,525 | -€3,153 | -67.4% |
| Taxes | 450/3 | €4,678 | €1,525 | -€3,153 | -67.4% |
| Other amounts payable | 47/48 | - | €160,000 | +€160,000 | |
| Accrued charges and deferred income | 492/3 | - | €760 | +€760 | |
| Other operating charges | 640/8 | €309 | €226 | -€83 | -26.9% |
| Gross operating margin | 9900 | €16,043 | €14,352 | -€1,691 | -10.5% |
| Operating profit (loss) | 9901 | €15,735 | €14,127 | -€1,608 | -10.2% |
| Financial income | 75/76B | €6,500 | €3,107 | -€3,393 | -52.2% |
| Recurring financial income | 75 | €6,500 | €3,107 | -€3,393 | -52.2% |
| Financial charges | 65/66B | €48 | €34 | -€15 | -30.2% |
| Recurring financial charges | 65 | €48 | €34 | -€15 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | €22,187 | €17,201 | -€4,986 | -22.5% |
| Income taxes | 67/77 | €4,842 | €5,360 | +€518 | +10.7% |
| Profit (loss) for the period | 9904 | €17,345 | €11,841 | -€5,504 | -31.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,345 | €11,841 | -€5,504 | -31.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.