IC SOUTH: 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 SOUTH
Largest movements
- Receivables within one year -€7,409
down €7,409 (-56.8%), from €13,056 to €5,646
of which Trade receivables: -€7,690
- Cash +€2,785
up €2,785 (+129%), from €2,156 to €4,941
mainly Receivables within one year (+€7,409) and Tax, wage and social debts (+€302)
- Other debts -€4,706
down €4,706 (-47.3%), from €9,955 to €5,249
- Tax, wage and social debts +€302
up €302 (+6.2%), from €4,876 to €5,178
of which Taxes: +€1,604
- Trade debts -€257
down €257 (-4.8%), from €5,299 to €5,042
- Purchases and services -€22,809
down €22,809 (-54.7%), from €41,727 to €18,919
- Staff costs +€7,685
up €7,685 (+27.4%), from €28,001 to €35,687
- Gross operating margin +€3,227
up €3,227 (+9.7%), from €33,292 to €36,520
- Depreciation -€1,240
no longer reported in 2025 (was €1,240)
- Other operating charges -€822
down €822 (-63.8%), from €1,289 to €467
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.
Derived cash bridge
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 | €16,265 | €11,611 | -€4,653 | -28.6% |
| Fixed assets | 21/28 | €1,024 | €1,024 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,024 | €1,024 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,024 | €1,024 | = | 0.0% |
| Current assets | 29/58 | €15,241 | €10,588 | -€4,653 | -30.5% |
| Amounts receivable within one year | 40/41 | €13,056 | €5,646 | -€7,409 | -56.8% |
| Trade receivables | 40 | €13,050 | €5,361 | -€7,690 | -58.9% |
| Other amounts receivable | 41 | €6 | €286 | +€280 | +4,698% |
| Cash at bank and in hand | 54/58 | €2,156 | €4,941 | +€2,785 | +129% |
| Deferred charges and accrued income | 490/1 | €29 | - | -€29 | |
| Total equity and liabilities | 10/49 | €16,265 | €11,611 | -€4,653 | -28.6% |
| Equity | 10/15 | -€3,865 | -€3,858 | +€8 | +0.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Capital | 10 | €2,000 | €2,000 | = | 0.0% |
| Issued capital | 100 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Legal reserve | 130 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,965 | -€5,957 | +€8 | +0.1% |
| Amounts payable | 17/49 | €20,130 | €15,469 | -€4,661 | -23.2% |
| Amounts payable within one year | 42/48 | €20,130 | €15,469 | -€4,661 | -23.2% |
| Trade debts | 44 | €5,299 | €5,042 | -€257 | -4.8% |
| Suppliers | 440/4 | €5,299 | €5,042 | -€257 | -4.8% |
| Taxes, remuneration and social security | 45 | €4,876 | €5,178 | +€302 | +6.2% |
| Taxes | 450/3 | €1,198 | €2,802 | +€1,604 | +134% |
| Remuneration and social security | 454/9 | €3,678 | €2,376 | -€1,302 | -35.4% |
| Other amounts payable | 47/48 | €9,955 | €5,249 | -€4,706 | -47.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €41,727 | €18,919 | -€22,809 | -54.7% |
| Remuneration, social security and pensions | 62 | €28,001 | €35,687 | +€7,685 | +27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,240 | - | -€1,240 | |
| Other operating charges | 640/8 | €1,289 | €467 | -€822 | -63.8% |
| Non-recurring operating charges | 66A | €10,661 | - | -€10,661 | |
| Gross operating margin | 9900 | €33,292 | €36,520 | +€3,227 | +9.7% |
| Operating profit (loss) | 9901 | -€7,899 | €367 | +€8,265 | |
| Financial charges | 65/66B | €56 | €51 | -€5 | -8.2% |
| Recurring financial charges | 65 | €56 | €51 | -€5 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | -€7,954 | €316 | +€8,270 | |
| Income taxes | 67/77 | - | €308 | +€308 | |
| Profit (loss) for the period | 9904 | -€7,954 | €8 | +€7,962 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,954 | €8 | +€7,962 |
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 13 October 2026 via checked.be.