ICEMAN: 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.
ICEMAN
Largest movements
- Tangible fixed assets -€100,797
down €100,797 (-5.2%), from €2.0m to €1.9m
- Receivables within one year +€96,645
up €96,645 (+23.9%), from €403,848 to €500,492
- Deferred charges and accrued income -€42,663
no longer reported in 2025 (was €42,663)
- Debts after one year -€76,316
down €76,316 (-8.0%), from €959,284 to €882,968
- Depreciation -€32,732
down €32,732 (-24.5%), from €133,528 to €100,797
- Other operating charges +€8,536
up €8,536 (+36.3%), from €23,507 to €32,043
- Gross operating margin +€7,192
up €7,192 (+4.3%), from €165,640 to €172,833
- Financial income -€4,110
down €4,110 (-26.0%), from €15,794 to €11,684
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 | €2,437,912 | €2,374,469 | -€63,443 | -2.6% |
| Fixed assets | 21/28 | €1,957,260 | €1,856,463 | -€100,797 | -5.1% |
| Tangible fixed assets | 22/27 | €1,955,260 | €1,854,463 | -€100,797 | -5.2% |
| Land and buildings | 22 | €1,955,260 | €1,854,463 | -€100,797 | -5.2% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €480,652 | €518,005 | +€37,354 | +7.8% |
| Amounts receivable within one year | 40/41 | €403,848 | €500,492 | +€96,645 | +23.9% |
| Other amounts receivable | 41 | €403,848 | €500,492 | +€96,645 | +23.9% |
| Cash at bank and in hand | 54/58 | €34,141 | €17,513 | -€16,628 | -48.7% |
| Deferred charges and accrued income | 490/1 | €42,663 | - | -€42,663 | |
| Total equity and liabilities | 10/49 | €2,437,912 | €2,374,469 | -€63,443 | -2.6% |
| Equity | 10/15 | -€160,149 | -€155,624 | +€4,526 | +2.8% |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Reserves | 13 | €7,145 | €7,145 | = | 0.0% |
| Distributable reserves | 133 | €7,145 | €7,145 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€285,895 | -€281,369 | +€4,526 | +1.6% |
| Amounts payable | 17/49 | €2,598,061 | €2,530,092 | -€67,969 | -2.6% |
| Amounts payable after more than one year | 17 | €959,284 | €882,968 | -€76,316 | -8.0% |
| Financial debts | 170/4 | €959,284 | €882,968 | -€76,316 | -8.0% |
| Amounts payable within one year | 42/48 | €1,638,778 | €1,644,227 | +€5,449 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €73,511 | €76,316 | +€2,805 | +3.8% |
| Trade debts | 44 | €6,779 | €2,166 | -€4,613 | -68.0% |
| Suppliers | 440/4 | €6,779 | €2,166 | -€4,613 | -68.0% |
| Other amounts payable | 47/48 | €1,558,488 | €1,565,744 | +€7,257 | +0.5% |
| Accrued charges and deferred income | 492/3 | - | €2,898 | +€2,898 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,528 | €100,797 | -€32,732 | -24.5% |
| Other operating charges | 640/8 | €23,507 | €32,043 | +€8,536 | +36.3% |
| Gross operating margin | 9900 | €165,640 | €172,833 | +€7,192 | +4.3% |
| Operating profit (loss) | 9901 | €8,605 | €39,993 | +€31,388 | +364.8% |
| Financial income | 75/76B | €15,794 | €11,684 | -€4,110 | -26.0% |
| Recurring financial income | 75 | €15,794 | €11,684 | -€4,110 | -26.0% |
| Financial charges | 65/66B | €47,808 | €47,151 | -€657 | -1.4% |
| Recurring financial charges | 65 | €47,808 | €47,151 | -€657 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | -€23,409 | €4,526 | +€27,935 | |
| Profit (loss) for the period | 9904 | -€23,409 | €4,526 | +€27,935 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,409 | €4,526 | +€27,935 |
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 9 October 2026 via checked.be.