ICARUS DREAM: 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.
ICARUS DREAM
Largest movements
- Receivables within one year -€89,102
down €89,102 (-77.5%), from €115,000 to €25,898
- Deferred charges and accrued income -€17,067
no longer reported in 2025 (was €17,067)
- Tangible fixed assets -€14,568
down €14,568 (-54.1%), from €26,939 to €12,370
- Cash -€8,163
down €8,163 (-55.8%), from €14,627 to €6,465
mainly Debts after one year (-€58,870) and Current portion of long-term debt (-€42,086)
- Debts after one year -€58,870
no longer reported in 2025 (was €58,870)
- Current portion of long-term debt -€42,086
no longer reported in 2025 (was €42,086)
- Profit (loss) carried forward -€26,489
down €26,489 (-13.2%), from €200,256 to €173,766
- Trade debts -€19,120
down €19,120 (-79.7%), from €23,994 to €4,874
- Other debts +€10,091
up €10,091 (+2.9%), from €351,394 to €361,485
- Other operating charges +€26,883
up €26,883 (+5,719%), from €470 to €27,353
- Depreciation -€8,586
down €8,586 (-92.8%), from €9,250 to €664
- Gross operating margin -€8,405
down €8,405 (-61.0%), from €13,772 to €5,366
- Financial charges +€977
up €977 (+34.1%), from €2,862 to €3,839
- Taxes -€218
no longer reported in 2025 (was €218)
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 | €803,761 | €674,861 | -€128,901 | -16.0% |
| Fixed assets | 21/28 | €657,067 | €642,498 | -€14,568 | -2.2% |
| Tangible fixed assets | 22/27 | €26,939 | €12,370 | -€14,568 | -54.1% |
| Furniture and vehicles | 24 | €26,939 | €12,370 | -€14,568 | -54.1% |
| Financial fixed assets | 28 | €630,128 | €630,128 | = | 0.0% |
| Current assets | 29/58 | €146,695 | €32,362 | -€114,332 | -77.9% |
| Amounts receivable within one year | 40/41 | €115,000 | €25,898 | -€89,102 | -77.5% |
| Other amounts receivable | 41 | €115,000 | €25,898 | -€89,102 | -77.5% |
| Cash at bank and in hand | 54/58 | €14,627 | €6,465 | -€8,163 | -55.8% |
| Deferred charges and accrued income | 490/1 | €17,067 | - | -€17,067 | |
| Total equity and liabilities | 10/49 | €803,761 | €674,861 | -€128,901 | -16.0% |
| Equity | 10/15 | €327,417 | €300,928 | -€26,489 | -8.1% |
| Contributions | 10/11 | €115,000 | €115,000 | = | 0.0% |
| Capital | 10 | €115,000 | €115,000 | = | 0.0% |
| Issued capital | 100 | €115,000 | €115,000 | = | 0.0% |
| Reserves | 13 | €12,161 | €12,161 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,161 | €12,161 | = | 0.0% |
| Legal reserve | 130 | €12,161 | €12,161 | = | 0.0% |
| Profit (loss) carried forward | 14 | €200,256 | €173,766 | -€26,489 | -13.2% |
| Amounts payable | 17/49 | €476,345 | €373,933 | -€102,411 | -21.5% |
| Amounts payable after more than one year | 17 | €58,870 | - | -€58,870 | |
| Financial debts | 170/4 | €58,870 | - | -€58,870 | |
| Amounts payable within one year | 42/48 | €417,475 | €373,933 | -€43,541 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €42,086 | - | -€42,086 | |
| Trade debts | 44 | €23,994 | €4,874 | -€19,120 | -79.7% |
| Suppliers | 440/4 | €23,994 | €4,874 | -€19,120 | -79.7% |
| Taxes, remuneration and social security | 45 | - | €7,574 | +€7,574 | |
| Remuneration and social security | 454/9 | - | €7,574 | +€7,574 | |
| Other amounts payable | 47/48 | €351,394 | €361,485 | +€10,091 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,250 | €664 | -€8,586 | -92.8% |
| Other operating charges | 640/8 | €470 | €27,353 | +€26,883 | +5,719% |
| Gross operating margin | 9900 | €13,772 | €5,366 | -€8,405 | -61.0% |
| Operating profit (loss) | 9901 | €4,051 | -€22,651 | -€26,702 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,862 | €3,839 | +€977 | +34.1% |
| Recurring financial charges | 65 | €2,862 | €3,839 | +€977 | +34.1% |
| Profit (loss) for the period before taxes | 9903 | €1,190 | -€26,489 | -€27,679 | |
| Income taxes | 67/77 | €218 | - | -€218 | |
| Profit (loss) for the period | 9904 | €972 | -€26,489 | -€27,461 | |
| Profit (loss) for the period to be appropriated | 9905 | €972 | -€26,489 | -€27,461 |
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 17 October 2026 via checked.be.