ICEN MARKT: 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.
ICEN MARKT
Largest movements
- Stocks and contracts +€21,290
up €21,290 (+15.2%), from €139,650 to €160,940
- Receivables within one year +€11,040
up €11,040 (+63.2%), from €17,457 to €28,497
of which Trade receivables: +€9,032
- Tangible fixed assets -€10,390
down €10,390 (-7.8%), from €133,160 to €122,770
of which Land and buildings: -€6,637
- Cash -€5,751
down €5,751 (-60.1%), from €9,577 to €3,825
mainly Debts after one year (-€23,505) and Stocks and contracts (-€21,290)
- Short-term financial debts +€49,319
new in 2026: €49,319
- Debts after one year -€23,505
down €23,505 (-58.1%), from €40,454 to €16,949
- Accrued charges and deferred income -€19,986
down €19,986 (-100%), from €19,986 to €0
- Trade debts +€14,527
up €14,527 (+19.8%), from €73,308 to €87,836
- Tax, wage and social debts -€6,771
down €6,771 (-18.2%), from €37,119 to €30,349
of which Taxes: -€6,713
- Staff costs +€55,010
up €55,010 (+42.0%), from €131,094 to €186,104
- Gross operating margin +€39,420
up €39,420 (+20.3%), from €194,371 to €233,791
- Depreciation -€17,355
down €17,355 (-49.1%), from €35,351 to €17,996
- Financial charges +€8,255
up €8,255 (+150%), from €5,487 to €13,742
- Other operating charges +€2,382
up €2,382 (+21.2%), from €11,223 to €13,606
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €316,093 | €330,046 | +€13,953 | +4.4% |
| Fixed assets | 21/28 | €138,017 | €127,627 | -€10,390 | -7.5% |
| Intangible fixed assets | 21 | €2,857 | €2,857 | = | 0.0% |
| Tangible fixed assets | 22/27 | €133,160 | €122,770 | -€10,390 | -7.8% |
| Land and buildings | 22 | €107,979 | €101,342 | -€6,637 | -6.1% |
| Plant, machinery and equipment | 23 | €23,321 | €16,912 | -€6,409 | -27.5% |
| Furniture and vehicles | 24 | €1,860 | €4,516 | +€2,656 | +143% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €178,076 | €202,419 | +€24,343 | +13.7% |
| Stocks and contracts in progress | 3 | €139,650 | €160,940 | +€21,290 | +15.2% |
| Stocks | 30/36 | €139,650 | €160,940 | +€21,290 | +15.2% |
| Amounts receivable within one year | 40/41 | €17,457 | €28,497 | +€11,040 | +63.2% |
| Trade receivables | 40 | €12,333 | €21,365 | +€9,032 | +73.2% |
| Other amounts receivable | 41 | €5,124 | €7,132 | +€2,008 | +39.2% |
| Cash at bank and in hand | 54/58 | €9,577 | €3,825 | -€5,751 | -60.1% |
| Deferred charges and accrued income | 490/1 | €11,392 | €9,157 | -€2,236 | -19.6% |
| Total equity and liabilities | 10/49 | €316,093 | €330,046 | +€13,953 | +4.4% |
| Equity | 10/15 | €85,366 | €86,853 | +€1,487 | +1.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €65,366 | €66,853 | +€1,487 | +2.3% |
| Distributable reserves | 133 | €65,366 | €66,853 | +€1,487 | +2.3% |
| Amounts payable | 17/49 | €230,727 | €243,193 | +€12,466 | +5.4% |
| Amounts payable after more than one year | 17 | €40,454 | €16,949 | -€23,505 | -58.1% |
| Financial debts | 170/4 | €40,454 | €16,949 | -€23,505 | -58.1% |
| Amounts payable within one year | 42/48 | €170,287 | €226,245 | +€55,958 | +32.9% |
| Current portion of amounts payable after more than one year | 42 | €31,275 | €25,530 | -€5,744 | -18.4% |
| Financial debts | 43 | - | €49,319 | +€49,319 | |
| Credit institutions | 430/8 | - | €49,319 | +€49,319 | |
| Trade debts | 44 | €73,308 | €87,836 | +€14,527 | +19.8% |
| Suppliers | 440/4 | €73,308 | €87,836 | +€14,527 | +19.8% |
| Advances received on contracts in progress | 46 | - | €4,627 | +€4,627 | |
| Taxes, remuneration and social security | 45 | €37,119 | €30,349 | -€6,771 | -18.2% |
| Taxes | 450/3 | €10,099 | €3,386 | -€6,713 | -66.5% |
| Remuneration and social security | 454/9 | €27,020 | €26,963 | -€57 | -0.2% |
| Other amounts payable | 47/48 | €28,585 | €28,585 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €19,986 | €0 | -€19,986 | -100% |
| Remuneration, social security and pensions | 62 | €131,094 | €186,104 | +€55,010 | +42.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,351 | €17,996 | -€17,355 | -49.1% |
| Other operating charges | 640/8 | €11,223 | €13,606 | +€2,382 | +21.2% |
| Gross operating margin | 9900 | €194,371 | €233,791 | +€39,420 | +20.3% |
| Operating profit (loss) | 9901 | €16,704 | €16,085 | -€618 | -3.7% |
| Financial income | 75/76B | €303 | €476 | +€173 | +57.0% |
| Recurring financial income | 75 | €303 | €476 | +€173 | +57.0% |
| Financial charges | 65/66B | €5,487 | €13,742 | +€8,255 | +150% |
| Recurring financial charges | 65 | €5,487 | €13,742 | +€8,255 | +150% |
| Profit (loss) for the period before taxes | 9903 | €11,520 | €2,819 | -€8,701 | -75.5% |
| Income taxes | 67/77 | €2,861 | €1,332 | -€1,528 | -53.4% |
| Profit (loss) for the period | 9904 | €8,659 | €1,487 | -€7,172 | -82.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,659 | €1,487 | -€7,172 | -82.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.