ICFAN: 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.
ICFAN
Largest movements
- Cash -€107,508
down €107,508 (-52.4%), from €205,127 to €97,619
mainly Investment in fixed assets (net) (-€112,721) and Debts after one year (-€49,303)
- Tangible fixed assets +€73,654
up €73,654 (+6.9%), from €1.1m to €1.1m
- Profit (loss) carried forward +€53,217
up €53,217 (+3.9%), from -€1.4m to -€1.3m
- Debts after one year -€49,303
down €49,303 (-2.5%), from €2.0m to €2.0m
- Current portion of long-term debt -€46,397
down €46,397 (-37.3%), from €124,468 to €78,071
- Tax, wage and social debts +€21,069
up €21,069 (+1,596%), from €1,320 to €22,388
- Gross operating margin +€1,697
up €1,697 (+1.3%), from €133,061 to €134,757
- Financial charges -€1,666
down €1,666 (-3.9%), from €42,558 to €40,892
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,281,723 | €1,250,192 | -€31,531 | -2.5% |
| Fixed assets | 21/28 | €1,065,115 | €1,138,769 | +€73,654 | +6.9% |
| Tangible fixed assets | 22/27 | €1,065,115 | €1,138,769 | +€73,654 | +6.9% |
| Land and buildings | 22 | €1,065,115 | €1,138,769 | +€73,654 | +6.9% |
| Current assets | 29/58 | €216,609 | €111,424 | -€105,185 | -48.6% |
| Amounts receivable within one year | 40/41 | €10,817 | €13,165 | +€2,349 | +21.7% |
| Trade receivables | 40 | €10,817 | €13,037 | +€2,220 | +20.5% |
| Other amounts receivable | 41 | €0 | €129 | +€129 | |
| Cash at bank and in hand | 54/58 | €205,127 | €97,619 | -€107,508 | -52.4% |
| Deferred charges and accrued income | 490/1 | €666 | €639 | -€27 | -4.0% |
| Total equity and liabilities | 10/49 | €1,281,723 | €1,250,192 | -€31,531 | -2.5% |
| Equity | 10/15 | -€857,481 | -€804,265 | +€53,217 | +6.2% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,357,481 | -€1,304,265 | +€53,217 | +3.9% |
| Amounts payable | 17/49 | €2,139,205 | €2,054,457 | -€84,748 | -4.0% |
| Amounts payable after more than one year | 17 | €2,001,148 | €1,951,844 | -€49,303 | -2.5% |
| Financial debts | 170/4 | €2,001,148 | €1,951,844 | -€49,303 | -2.5% |
| Amounts payable within one year | 42/48 | €137,078 | €102,613 | -€34,465 | -25.1% |
| Current portion of amounts payable after more than one year | 42 | €124,468 | €78,071 | -€46,397 | -37.3% |
| Trade debts | 44 | €9,202 | €65 | -€9,137 | -99.3% |
| Suppliers | 440/4 | €9,202 | €65 | -€9,137 | -99.3% |
| Advances received on contracts in progress | 46 | €2,089 | €2,089 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,320 | €22,388 | +€21,069 | +1,596% |
| Taxes | 450/3 | €1,320 | €22,388 | +€21,069 | +1,596% |
| Accrued charges and deferred income | 492/3 | €979 | €0 | -€979 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,036 | €39,066 | +€1,031 | +2.7% |
| Other operating charges | 640/8 | €2,211 | €1,582 | -€630 | -28.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €133,061 | €134,757 | +€1,697 | +1.3% |
| Operating profit (loss) | 9901 | €92,814 | €94,109 | +€1,296 | +1.4% |
| Financial income | 75/76B | €1 | €0 | -€1 | -94.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -94.0% |
| Financial charges | 65/66B | €42,558 | €40,892 | -€1,666 | -3.9% |
| Recurring financial charges | 65 | €42,558 | €40,892 | -€1,666 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €50,257 | €53,217 | +€2,960 | +5.9% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €50,257 | €53,217 | +€2,960 | +5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €50,257 | €53,217 | +€2,960 | +5.9% |
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 14 October 2026 via checked.be.