ICARUS GROUP: 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.
What changed
ICARUS GROUP
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€525,781
2024 · -€647,483+€121,702
Equity
€11.3m
2024 · €11.9m-€525,781
Cash
€1,017
2024 · €594+€423
Balance sheet total
€23.5m
2024 · €23.7m-€189,046
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Debts after one year +€738,118
up €738,118 (+6.9%), from €10.7m to €11.4m
of which Other amounts payable: +€986,436
- Profit (loss) carried forward -€525,781
down €525,781 (-11.0%), from -€4.8m to -€5.3m
- Trade debts -€305,261
down €305,261 (-49.0%), from €622,713 to €317,452
Income statement
- Financial charges -€142,834
down €142,834 (-34.2%), from €417,855 to €275,021
- Staff costs -€68,359
down €68,359 (-11.8%), from €577,381 to €509,022
- Services and other goods +€49,506
up €49,506 (+6.2%), from €799,296 to €848,802
- Turnover -€40,926
down €40,926 (-3.5%), from €1.2m to €1.1m
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.
Result 2024
-€647,483
Turnover
-€40,926
Other operating income
-€129
Services and other goods
-€49,506
Staff costs
+€68,359
Depreciation
-€0
Other operating charges
+€2,722
Financial income
+€507
Financial charges
+€142,834
Taxes
-€2,160
Result 2025
-€525,781
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.
From operations
-€673,425
Investment
€0
Financing
+€673,848
Cash 2024
€594
From operations (derived)
-€673,425
Net result for the year
-€525,781
Depreciation
+€8,680
Receivables within one year
+€168,948
Deferred charges and accrued income
+€11,841
Trade debts
-€305,261
Tax, wage and social debts
-€34,813
Accrued charges and deferred income
+€2,961
Financing
+€673,848
Debts after one year
+€738,118
Current portion of long-term debt
-€63,738
Short-term financial debts
-€531
Cash 2025
€1,017
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,707,192 | €23,518,146 | -€189,046 | -0.8% |
| Fixed assets | 21/28 | €22,783,442 | €22,774,762 | -€8,680 | 0.0% |
| Tangible fixed assets | 22/27 | €33,995 | €25,316 | -€8,680 | -25.5% |
| Furniture and vehicles | 24 | €33,995 | €25,316 | -€8,680 | -25.5% |
| Financial fixed assets | 28 | €22,749,446 | €22,749,446 | = | 0.0% |
| Affiliated companies | 280/1 | €22,749,446 | €22,749,446 | = | 0.0% |
| Participating interests | 280 | €22,749,446 | €22,749,446 | = | 0.0% |
| Current assets | 29/58 | €923,750 | €743,384 | -€180,366 | -19.5% |
| Amounts receivable within one year | 40/41 | €897,143 | €728,196 | -€168,948 | -18.8% |
| Trade receivables | 40 | €750,859 | €718,196 | -€32,663 | -4.4% |
| Other amounts receivable | 41 | €146,284 | €10,000 | -€136,284 | -93.2% |
| Cash at bank and in hand | 54/58 | €594 | €1,017 | +€423 | +71.3% |
| Deferred charges and accrued income | 490/1 | €26,013 | €14,172 | -€11,841 | -45.5% |
| Total equity and liabilities | 10/49 | €23,707,192 | €23,518,146 | -€189,046 | -0.8% |
| Equity | 10/15 | €11,866,676 | €11,340,896 | -€525,781 | -4.4% |
| Contributions | 10/11 | €15,400,000 | €15,400,000 | = | 0.0% |
| Capital | 10 | €15,400,000 | €15,400,000 | = | 0.0% |
| Issued capital | 100 | €15,400,000 | €15,400,000 | = | 0.0% |
| Reserves | 13 | €1,257,147 | €1,257,147 | = | 0.0% |
| Non-distributable reserves | 130/1 | €73,693 | €73,693 | = | 0.0% |
| Legal reserve | 130 | €73,693 | €73,693 | = | 0.0% |
| Distributable reserves | 133 | €1,183,455 | €1,183,455 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,790,471 | -€5,316,252 | -€525,781 | -11.0% |
| Amounts payable | 17/49 | €11,840,516 | €12,177,251 | +€336,735 | +2.8% |
| Amounts payable after more than one year | 17 | €10,667,005 | €11,405,123 | +€738,118 | +6.9% |
| Financial debts | 170/4 | €275,942 | €27,625 | -€248,318 | -90.0% |
| Subordinated loans | 170 | €260,500 | €20,038 | -€240,462 | -92.3% |
| Credit institutions | 173 | €15,442 | €7,586 | -€7,856 | -50.9% |
| Other amounts payable | 178/9 | €10,391,063 | €11,377,499 | +€986,436 | +9.5% |
| Amounts payable within one year | 42/48 | €1,164,067 | €759,723 | -€404,344 | -34.7% |
| Current portion of amounts payable after more than one year | 42 | €425,210 | €361,472 | -€63,738 | -15.0% |
| Financial debts | 43 | €3,096 | €2,565 | -€531 | -17.2% |
| Credit institutions | 430/8 | €3,096 | €2,565 | -€531 | -17.2% |
| Trade debts | 44 | €622,713 | €317,452 | -€305,261 | -49.0% |
| Suppliers | 440/4 | €622,713 | €317,452 | -€305,261 | -49.0% |
| Taxes, remuneration and social security | 45 | €113,048 | €78,234 | -€34,813 | -30.8% |
| Taxes | 450/3 | €16,936 | €14,422 | -€2,514 | -14.8% |
| Remuneration and social security | 454/9 | €96,112 | €63,813 | -€32,300 | -33.6% |
| Accrued charges and deferred income | 492/3 | €9,443 | €12,404 | +€2,961 | +31.4% |
| Operating income | 70/76A | €1,159,957 | €1,118,903 | -€41,054 | -3.5% |
| Turnover | 70 | €1,153,190 | €1,112,264 | -€40,926 | -3.5% |
| Other operating income | 74 | €6,767 | €6,638 | -€129 | -1.9% |
| Operating charges | 60/66A | €1,388,610 | €1,367,034 | -€21,575 | -1.6% |
| Services and other goods | 61 | €799,296 | €848,802 | +€49,506 | +6.2% |
| Remuneration, social security and pensions | 62 | €577,381 | €509,022 | -€68,359 | -11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,680 | €8,680 | +€0 | 0.0% |
| Other operating charges | 640/8 | €3,252 | €530 | -€2,722 | -83.7% |
| Operating profit (loss) | 9901 | -€228,652 | -€248,132 | -€19,479 | -8.5% |
| Financial income | 75/76B | - | €507 | +€507 | |
| Recurring financial income | 75 | - | €507 | +€507 | |
| Other financial income | 752/9 | - | €507 | +€507 | |
| Financial charges | 65/66B | €417,855 | €275,021 | -€142,834 | -34.2% |
| Recurring financial charges | 65 | €417,855 | €275,021 | -€142,834 | -34.2% |
| Debt charges | 650 | €416,473 | €274,915 | -€141,558 | -34.0% |
| Other financial charges | 652/9 | €1,382 | €106 | -€1,276 | -92.3% |
| Profit (loss) for the period before taxes | 9903 | -€646,507 | -€522,645 | +€123,863 | +19.2% |
| Income taxes | 67/77 | €976 | €3,136 | +€2,160 | +221.4% |
| Taxes | 670/3 | €976 | €3,136 | +€2,160 | +221.4% |
| Profit (loss) for the period | 9904 | -€647,483 | -€525,781 | +€121,702 | +18.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€647,483 | -€525,781 | +€121,702 | +18.8% |
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.