ICARO: what changed
Two fiscal 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.
ICARO
Largest movements
- Cash +€1,382
up €1,382 (+2164.7%), from €64 to €1,446
mainly Receivables within one year (+€1,259) and Deferred charges and accrued income (+€1,000)
- Receivables within one year -€1,259
down €1,259 (-4.7%), from €26,928 to €25,669
of which Trade receivables: -€4,373
- Deferred charges and accrued income -€1,000
no longer reported in 2025 (was €1,000)
- Trade debts -€1,187
down €1,187 (-49.5%), from €2,400 to €1,213
- Profit (loss) carried forward +€310
up €310 (+50.8%), from -€610 to -€300
- Gross operating margin +€1,187
up €1,187, from -€53 to €1,134
- Financial charges +€398
up €398 (+283.2%), from €140 to €538
- Financial income +€114
new in 2025: €114
- Other operating charges +€12
up €12 (+3.2%), from €387 to €400
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 | €27,992 | €27,114 | -€877 | -3.1% |
| Current assets | 29/58 | €27,992 | €27,114 | -€877 | -3.1% |
| Amounts receivable within one year | 40/41 | €26,928 | €25,669 | -€1,259 | -4.7% |
| Trade receivables | 40 | €4,458 | €85 | -€4,373 | -98.1% |
| Other amounts receivable | 41 | €22,470 | €25,584 | +€3,114 | +13.9% |
| Cash at bank and in hand | 54/58 | €64 | €1,446 | +€1,382 | +2164.7% |
| Deferred charges and accrued income | 490/1 | €1,000 | - | -€1,000 | |
| Total equity and liabilities | 10/49 | €27,992 | €27,114 | -€877 | -3.1% |
| Equity | 10/15 | €17,990 | €18,300 | +€310 | +1.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€610 | -€300 | +€310 | +50.8% |
| Amounts payable | 17/49 | €10,002 | €8,815 | -€1,187 | -11.9% |
| Amounts payable within one year | 42/48 | €6,002 | €4,815 | -€1,187 | -19.8% |
| Trade debts | 44 | €2,400 | €1,213 | -€1,187 | -49.5% |
| Suppliers | 440/4 | €2,400 | €1,213 | -€1,187 | -49.5% |
| Other amounts payable | 47/48 | €3,602 | €3,602 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,000 | €4,000 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€53 | €1,134 | +€1,187 | |
| Operating profit (loss) | 9901 | -€440 | €734 | +€1,174 | |
| Financial income | 75/76B | - | €114 | +€114 | |
| Recurring financial income | 75 | - | €114 | +€114 | |
| Financial charges | 65/66B | €140 | €538 | +€398 | +283.2% |
| Recurring financial charges | 65 | €140 | €538 | +€398 | +283.2% |
| Profit (loss) for the period before taxes | 9903 | -€580 | €310 | +€890 | |
| Profit (loss) for the period | 9904 | -€580 | €310 | +€890 | |
| Profit (loss) for the period to be appropriated | 9905 | -€580 | €310 | +€890 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.