ICA: 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.
ICA
Largest movements
- Tangible fixed assets +€62,948
new in 2025: €62,948
of which Plant, machinery and equipment: +€62,029
- Receivables within one year -€29,680
down €29,680 (-34.1%), from €87,015 to €57,335
of which Trade receivables: -€53,953
- Cash +€18,634
up €18,634 (+601%), from €3,101 to €21,736
mainly Debts after one year (+€40,809) and Receivables within one year (+€29,680)
- Debts after one year +€40,809
new in 2025: €40,809
- Short-term financial debts +€9,300
new in 2025: €9,300
- Profit (loss) carried forward +€2,177
up €2,177 (+7.2%), from €30,419 to €32,595
- Gross operating margin +€23,415
up €23,415 (+152%), from €15,413 to €38,828
- Other operating charges +€14,243
up €14,243 (+468%), from €3,041 to €17,284
- Depreciation +€8,024
new in 2025: €8,024
- Staff costs +€5,212
new in 2025: €5,212
- Financial charges +€3,854
up €3,854 (+738%), from €522 to €4,376
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 | €92,997 | €144,900 | +€51,902 | +55.8% |
| Fixed assets | 21/28 | €2,881 | €65,829 | +€62,948 | +2,185% |
| Tangible fixed assets | 22/27 | - | €62,948 | +€62,948 | |
| Plant, machinery and equipment | 23 | - | €62,029 | +€62,029 | |
| Furniture and vehicles | 24 | - | €919 | +€919 | |
| Financial fixed assets | 28 | €2,881 | €2,881 | = | 0.0% |
| Current assets | 29/58 | €90,116 | €79,071 | -€11,045 | -12.3% |
| Amounts receivable within one year | 40/41 | €87,015 | €57,335 | -€29,680 | -34.1% |
| Trade receivables | 40 | €75,672 | €21,719 | -€53,953 | -71.3% |
| Other amounts receivable | 41 | €11,344 | €35,616 | +€24,273 | +214% |
| Cash at bank and in hand | 54/58 | €3,101 | €21,736 | +€18,634 | +601% |
| Total equity and liabilities | 10/49 | €92,997 | €144,900 | +€51,902 | +55.8% |
| Equity | 10/15 | €38,479 | €40,655 | +€2,177 | +5.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,419 | €32,595 | +€2,177 | +7.2% |
| Amounts payable | 17/49 | €54,519 | €104,244 | +€49,726 | +91.2% |
| Amounts payable after more than one year | 17 | - | €40,809 | +€40,809 | |
| Financial debts | 170/4 | - | €40,809 | +€40,809 | |
| Amounts payable within one year | 42/48 | €54,519 | €63,435 | +€8,917 | +16.4% |
| Financial debts | 43 | - | €9,300 | +€9,300 | |
| Credit institutions | 430/8 | - | €9,300 | +€9,300 | |
| Trade debts | 44 | €10,964 | €12,099 | +€1,135 | +10.4% |
| Suppliers | 440/4 | €10,964 | €12,099 | +€1,135 | +10.4% |
| Taxes, remuneration and social security | 45 | €28,507 | €27,482 | -€1,025 | -3.6% |
| Taxes | 450/3 | €16,191 | €17,116 | +€925 | +5.7% |
| Remuneration and social security | 454/9 | €12,316 | €10,366 | -€1,950 | -15.8% |
| Other amounts payable | 47/48 | €15,047 | €14,553 | -€494 | -3.3% |
| Remuneration, social security and pensions | 62 | - | €5,212 | +€5,212 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €8,024 | +€8,024 | |
| Other operating charges | 640/8 | €3,041 | €17,284 | +€14,243 | +468% |
| Gross operating margin | 9900 | €15,413 | €38,828 | +€23,415 | +152% |
| Operating profit (loss) | 9901 | €12,372 | €8,308 | -€4,064 | -32.8% |
| Financial income | 75/76B | €29 | €39 | +€10 | +34.6% |
| Recurring financial income | 75 | €29 | €39 | +€10 | +34.6% |
| Financial charges | 65/66B | €522 | €4,376 | +€3,854 | +738% |
| Recurring financial charges | 65 | €522 | €4,376 | +€3,854 | +738% |
| Profit (loss) for the period before taxes | 9903 | €11,878 | €3,970 | -€7,908 | -66.6% |
| Income taxes | 67/77 | €3,000 | €1,793 | -€1,207 | -40.2% |
| Profit (loss) for the period | 9904 | €8,878 | €2,177 | -€6,701 | -75.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,878 | €2,177 | -€6,701 | -75.5% |
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 20 October 2026 via checked.be.