ICB-PROJECTS: 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.
ICB-PROJECTS
Largest movements
- Tangible fixed assets +€24,503
up €24,503 (+1303.9%), from €1,879 to €26,382
- Receivables within one year +€13,992
up €13,992 (+143.4%), from €9,756 to €23,748
of which Other amounts receivable: +€13,401
- Cash -€7,982
down €7,982 (-16.6%), from €48,034 to €40,052
mainly Investment in fixed assets (net) (-€32,000) and Other debts (-€17,785)
- Profit (loss) carried forward +€31,498
up €31,498 (+85.1%), from €37,014 to €68,511
- Other debts -€17,785
no longer reported in 2025 (was €17,785)
- Current portion of long-term debt +€10,029
new in 2025: €10,029
- Debts after one year +€4,288
new in 2025: €4,288
- Tax, wage and social debts +€1,726
up €1,726 (+79.9%), from €2,159 to €3,885
- Taxes -€12,367
down €12,367 (-75.0%), from €16,500 to €4,133
- Depreciation +€7,094
up €7,094 (+1761.6%), from €403 to €7,497
- Gross operating margin -€980
down €980 (-2.2%), from €45,169 to €44,189
- Financial charges +€474
up €474 (+252.0%), from €188 to €662
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 | €59,669 | €90,182 | +€30,513 | +51.1% |
| Fixed assets | 21/28 | €1,879 | €26,382 | +€24,503 | +1303.9% |
| Tangible fixed assets | 22/27 | €1,879 | €26,382 | +€24,503 | +1303.9% |
| Furniture and vehicles | 24 | €1,879 | €26,382 | +€24,503 | +1303.9% |
| Current assets | 29/58 | €57,790 | €63,800 | +€6,010 | +10.4% |
| Amounts receivable within one year | 40/41 | €9,756 | €23,748 | +€13,992 | +143.4% |
| Trade receivables | 40 | €9,756 | €10,347 | +€591 | +6.1% |
| Other amounts receivable | 41 | - | €13,401 | +€13,401 | |
| Cash at bank and in hand | 54/58 | €48,034 | €40,052 | -€7,982 | -16.6% |
| Total equity and liabilities | 10/49 | €59,669 | €90,182 | +€30,513 | +51.1% |
| Equity | 10/15 | €39,514 | €71,011 | +€31,498 | +79.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,014 | €68,511 | +€31,498 | +85.1% |
| Amounts payable | 17/49 | €20,155 | €19,171 | -€985 | -4.9% |
| Amounts payable after more than one year | 17 | - | €4,288 | +€4,288 | |
| Financial debts | 170/4 | - | €4,288 | +€4,288 | |
| Amounts payable within one year | 42/48 | €20,155 | €14,883 | -€5,272 | -26.2% |
| Current portion of amounts payable after more than one year | 42 | - | €10,029 | +€10,029 | |
| Trade debts | 44 | €212 | €970 | +€758 | +358.0% |
| Suppliers | 440/4 | €212 | €970 | +€758 | +358.0% |
| Taxes, remuneration and social security | 45 | €2,159 | €3,885 | +€1,726 | +79.9% |
| Taxes | 450/3 | €2,159 | €3,885 | +€1,726 | +79.9% |
| Other amounts payable | 47/48 | €17,785 | - | -€17,785 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €403 | €7,497 | +€7,094 | +1761.6% |
| Other operating charges | 640/8 | €766 | €400 | -€367 | -47.8% |
| Gross operating margin | 9900 | €45,169 | €44,189 | -€980 | -2.2% |
| Operating profit (loss) | 9901 | €44,000 | €36,292 | -€7,707 | -17.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €188 | €662 | +€474 | +252.0% |
| Recurring financial charges | 65 | €188 | €662 | +€474 | +252.0% |
| Profit (loss) for the period before taxes | 9903 | €43,812 | €35,630 | -€8,181 | -18.7% |
| Income taxes | 67/77 | €16,500 | €4,133 | -€12,367 | -75.0% |
| Profit (loss) for the period | 9904 | €27,312 | €31,498 | +€4,186 | +15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €27,312 | €31,498 | +€4,186 | +15.3% |
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.