ICC MidCo: 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
ICC MidCo
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€175,552
2024 · -€23,583+€199,135
Equity
€248.4m
2024 · €183.0m+€65.5m
Cash
€5,316
2024 · €493,277-€487,961
Balance sheet total
€283.9m
2024 · €209.2m+€74.7m
Largest movements
Assets
- Financial fixed assets +€66.2m
up €66.2m (+36.3%), from €182.5m to €248.7m
- Receivables within one year +€10.2m
up €10.2m (+40.8%), from €25.0m to €35.2m
Equity and liabilities
- Contributions +€65.3m
up €65.3m (+35.7%), from €183.0m to €248.3m
- Other debts +€10.0m
up €10.0m (+39.9%), from €25.0m to €35.0m
Income statement
No income-statement line moved by more than 1% of the activity.
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
-€23,583
Other operating charges
-€941
Other operating items
-€62,688
Financial income
+€301,162
Financial charges
+€16,922
Taxes
-€55,320
Result 2025
€175,552
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€471,298
Investment
-€66.2m
Financing
+€65.3m
Cash 2024
€493,277
From operations (derived)
+€471,298
Net result for the year
+€175,552
Receivables within one year
-€10.2m
Deferred charges and accrued income
+€1.2m
Trade debts
+€461,880
Tax, wage and social debts
+€55,320
Other debts
+€10.0m
Accrued charges and deferred income
-€1.2m
Investment (derived)
-€66.2m
Investment in fixed assets (net)
-€66.2m
Financing
+€65.3m
Contributions, distributions and other
+€65.3m
Cash 2025
€5,316
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €209,223,323 | €283,949,272 | +€74.7m | +35.7% |
| Fixed assets | 21/28 | €182,503,816 | €248,738,283 | +€66.2m | +36.3% |
| Financial fixed assets | 28 | €182,503,816 | €248,738,283 | +€66.2m | +36.3% |
| Affiliated companies | 280/1 | €182,503,816 | €248,738,283 | +€66.2m | +36.3% |
| Participating interests | 280 | €182,503,816 | €248,738,283 | +€66.2m | +36.3% |
| Current assets | 29/58 | €26,719,506 | €35,210,988 | +€8.5m | +31.8% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €25,000,000 | €35,205,672 | +€10.2m | +40.8% |
| Other amounts receivable | 41 | €25,000,000 | €35,205,672 | +€10.2m | +40.8% |
| Cash at bank and in hand | 54/58 | €493,277 | €5,316 | -€487,961 | -98.9% |
| Deferred charges and accrued income | 490/1 | €1,226,229 | €0 | -€1.2m | -100% |
| Total equity and liabilities | 10/49 | €209,223,323 | €283,949,272 | +€74.7m | +35.7% |
| Equity | 10/15 | €182,981,358 | €248,432,118 | +€65.5m | +35.8% |
| Contributions | 10/11 | €183,004,941 | €248,280,149 | +€65.3m | +35.7% |
| Reserves | 13 | - | €151,968 | +€151,968 | |
| Distributable reserves | 133 | - | €151,968 | +€151,968 | |
| Profit (loss) carried forward | 14 | -€23,583 | €0 | +€23,583 | |
| Amounts payable | 17/49 | €26,241,965 | €35,517,154 | +€9.3m | +35.3% |
| Amounts payable within one year | 42/48 | €25,015,000 | €35,517,154 | +€10.5m | +42.0% |
| Trade debts | 44 | - | €461,880 | +€461,880 | |
| Suppliers | 440/4 | - | €461,880 | +€461,880 | |
| Taxes, remuneration and social security | 45 | - | €55,320 | +€55,320 | |
| Taxes | 450/3 | - | €55,320 | +€55,320 | |
| Other amounts payable | 47/48 | €25,015,000 | €34,999,954 | +€10.0m | +39.9% |
| Accrued charges and deferred income | 492/3 | €1,226,965 | €0 | -€1.2m | -100.0% |
| Operating charges | 60/66A | €22,402 | €86,031 | +€63,630 | +284% |
| Services and other goods | 61 | €22,394 | €85,083 | +€62,688 | +280% |
| Other operating charges | 640/8 | €8 | €949 | +€941 | +12,552% |
| Operating profit (loss) | 9901 | -€22,402 | -€86,031 | -€63,630 | -284% |
| Financial income | 75/76B | €1,226,229 | €1,527,391 | +€301,162 | +24.6% |
| Recurring financial income | 75 | €1,226,229 | €831,826 | -€394,404 | -32.2% |
| Income from current assets | 751 | €1,226,229 | €831,825 | -€394,404 | -32.2% |
| Other financial income | 752/9 | - | €1 | +€1 | |
| Non-recurring financial income | 76B | - | €695,566 | +€695,566 | |
| Financial charges | 65/66B | €1,227,411 | €1,210,488 | -€16,922 | -1.4% |
| Recurring financial charges | 65 | €1,227,411 | €1,210,488 | -€16,922 | -1.4% |
| Debt charges | 650 | €1,226,965 | €793,101 | -€433,864 | -35.4% |
| Other financial charges | 652/9 | €446 | €417,388 | +€416,942 | +93,558% |
| Profit (loss) for the period before taxes | 9903 | -€23,583 | €230,872 | +€254,455 | |
| Income taxes | 67/77 | - | €55,320 | +€55,320 | |
| Taxes | 670/3 | - | €55,320 | +€55,320 | |
| Profit (loss) for the period | 9904 | -€23,583 | €175,552 | +€199,135 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,583 | €175,552 | +€199,135 |
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 1 November 2026 via checked.be.