ICAREL: 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.
ICAREL
Largest movements
- Receivables within one year -€20,695
down €20,695 (-46.5%), from €44,466 to €23,771
of which Other amounts receivable: -€17,128
- Cash -€5,205
down €5,205 (-30.6%), from €17,017 to €11,812
mainly Trade debts (-€19,457) and Tax, wage and social debts (-€8,503)
- Tangible fixed assets -€2,635
down €2,635 (-20.3%), from €12,994 to €10,359
of which Plant, machinery and equipment: -€1,913
- Deferred charges and accrued income +€947
up €947 (+121.9%), from €777 to €1,724
- Trade debts -€19,457
down €19,457 (-81.5%), from €23,873 to €4,416
- Tax, wage and social debts -€8,503
down €8,503 (-75.1%), from €11,326 to €2,822
of which Remuneration and social security: -€8,272
- Gross operating margin -€5,646
down €5,646 (-19.4%), from €29,076 to €23,430
- Depreciation -€1,577
down €1,577 (-37.4%), from €4,213 to €2,635
- Staff costs +€1,408
up €1,408 (+7.2%), from €19,539 to €20,947
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 | €75,610 | €48,023 | -€27,587 | -36.5% |
| Fixed assets | 21/28 | €13,351 | €10,716 | -€2,635 | -19.7% |
| Tangible fixed assets | 22/27 | €12,994 | €10,359 | -€2,635 | -20.3% |
| Plant, machinery and equipment | 23 | €11,911 | €9,998 | -€1,913 | -16.1% |
| Furniture and vehicles | 24 | €1,083 | €361 | -€722 | -66.7% |
| Financial fixed assets | 28 | €357 | €357 | = | 0.0% |
| Current assets | 29/58 | €62,259 | €37,307 | -€24,952 | -40.1% |
| Amounts receivable within one year | 40/41 | €44,466 | €23,771 | -€20,695 | -46.5% |
| Trade receivables | 40 | €22,410 | €18,844 | -€3,566 | -15.9% |
| Other amounts receivable | 41 | €22,055 | €4,927 | -€17,128 | -77.7% |
| Cash at bank and in hand | 54/58 | €17,017 | €11,812 | -€5,205 | -30.6% |
| Deferred charges and accrued income | 490/1 | €777 | €1,724 | +€947 | +121.9% |
| Total equity and liabilities | 10/49 | €75,610 | €48,023 | -€27,587 | -36.5% |
| Equity | 10/15 | €40,411 | €40,411 | = | 0.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €4,659 | €4,659 | = | 0.0% |
| Distributable reserves | 133 | €4,659 | €4,659 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,292 | €15,292 | = | 0.0% |
| Amounts payable | 17/49 | €35,199 | €7,611 | -€27,587 | -78.4% |
| Amounts payable within one year | 42/48 | €35,199 | €7,611 | -€27,587 | -78.4% |
| Trade debts | 44 | €23,873 | €4,416 | -€19,457 | -81.5% |
| Suppliers | 440/4 | €23,873 | €4,416 | -€19,457 | -81.5% |
| Taxes, remuneration and social security | 45 | €11,326 | €2,822 | -€8,503 | -75.1% |
| Taxes | 450/3 | €646 | €414 | -€232 | -35.9% |
| Remuneration and social security | 454/9 | €10,680 | €2,408 | -€8,272 | -77.5% |
| Other amounts payable | 47/48 | - | €373 | +€373 | |
| Remuneration, social security and pensions | 62 | €19,539 | €20,947 | +€1,408 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,213 | €2,635 | -€1,577 | -37.4% |
| Other operating charges | 640/8 | €152 | €199 | +€47 | +31.2% |
| Non-recurring operating charges | 66A | €124 | €112 | -€13 | -10.2% |
| Gross operating margin | 9900 | €29,076 | €23,430 | -€5,646 | -19.4% |
| Operating profit (loss) | 9901 | €5,048 | -€463 | -€5,511 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €404 | €220 | -€184 | -45.6% |
| Recurring financial charges | 65 | €404 | €220 | -€184 | -45.6% |
| Profit (loss) for the period before taxes | 9903 | €4,644 | -€683 | -€5,327 | |
| Income taxes | 67/77 | €1,795 | €2,024 | +€229 | +12.8% |
| Profit (loss) for the period | 9904 | €2,849 | -€2,707 | -€5,556 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,849 | -€2,707 | -€5,556 |
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.