ICHI: 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
ICHI
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€90,213
2024 · €70,437+€19,776
Equity
€63,763
2024 · €57,550+€6,213
Cash
€10,928
2024 · €9,654+€1,274
Balance sheet total
€829,430
2024 · €881,944-€52,514
Largest movements
Assets
- Tangible fixed assets -€48,165
down €48,165 (-5.7%), from €845,788 to €797,622
of which Land and buildings: -€47,371
Equity and liabilities
- Debts after one year -€105,273
down €105,273 (-55.4%), from €190,147 to €84,874
of which Financial debts: -€105,273
- Other debts +€48,993
up €48,993 (+9.5%), from €515,676 to €564,670
Income statement
- Gross operating margin +€16,287
up €16,287 (+11.4%), from €142,786 to €159,073
- Financial charges -€4,897
down €4,897 (-40.2%), from €12,170 to €7,274
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
€70,437
Gross operating margin
+€16,287
Depreciation
-€865
Other operating charges
-€324
Other operating items
+€343
Financial income
-€322
Financial charges
+€4,897
Taxes
-€241
Result 2025
€90,213
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
+€187,080
Investment
-€813
Financing
-€184,994
Cash 2024
€9,654
From operations (derived)
+€187,080
Net result for the year
+€90,213
Depreciation
+€49,041
Receivables within one year
+€635
Deferred charges and accrued income
+€4,924
Trade debts
-€4,913
Tax, wage and social debts
-€1,388
Other debts
+€48,993
Accrued charges and deferred income
-€426
Investment (derived)
-€813
Investment in fixed assets (net)
-€876
Current investments
+€63
Financing
-€184,994
Debts after one year
-€105,273
Current portion of long-term debt
+€4,279
Contributions, distributions and other
-€84,000
Cash 2025
€10,928
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €881,944 | €829,430 | -€52,514 | -6.0% |
| Fixed assets | 21/28 | €845,867 | €797,702 | -€48,165 | -5.7% |
| Tangible fixed assets | 22/27 | €845,788 | €797,622 | -€48,165 | -5.7% |
| Land and buildings | 22 | €843,455 | €796,084 | -€47,371 | -5.6% |
| Plant, machinery and equipment | 23 | €2,333 | €1,538 | -€794 | -34.0% |
| Financial fixed assets | 28 | €79 | €79 | = | 0.0% |
| Current assets | 29/58 | €36,077 | €31,728 | -€4,348 | -12.1% |
| Amounts receivable within one year | 40/41 | €13,435 | €12,801 | -€635 | -4.7% |
| Other amounts receivable | 41 | €13,435 | €12,801 | -€635 | -4.7% |
| Current investments | 50/53 | €8,063 | €8,000 | -€63 | -0.8% |
| Cash at bank and in hand | 54/58 | €9,654 | €10,928 | +€1,274 | +13.2% |
| Deferred charges and accrued income | 490/1 | €4,924 | - | -€4,924 | |
| Total equity and liabilities | 10/49 | €881,944 | €829,430 | -€52,514 | -6.0% |
| Equity | 10/15 | €57,550 | €63,763 | +€6,213 | +10.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,840 | €16,840 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,840 | €16,840 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,110 | €28,323 | +€6,213 | +28.1% |
| Amounts payable | 17/49 | €824,394 | €765,667 | -€58,727 | -7.1% |
| Amounts payable after more than one year | 17 | €190,147 | €84,874 | -€105,273 | -55.4% |
| Financial debts | 170/4 | €177,787 | €72,514 | -€105,273 | -59.2% |
| Other amounts payable | 178/9 | €12,360 | €12,360 | = | 0.0% |
| Amounts payable within one year | 42/48 | €631,807 | €678,779 | +€46,972 | +7.4% |
| Current portion of amounts payable after more than one year | 42 | €109,586 | €113,864 | +€4,279 | +3.9% |
| Trade debts | 44 | €4,935 | €22 | -€4,913 | -99.6% |
| Suppliers | 440/4 | €4,935 | €22 | -€4,913 | -99.6% |
| Taxes, remuneration and social security | 45 | €1,610 | €223 | -€1,388 | -86.2% |
| Taxes | 450/3 | €1,610 | €223 | -€1,388 | -86.2% |
| Other amounts payable | 47/48 | €515,676 | €564,670 | +€48,993 | +9.5% |
| Accrued charges and deferred income | 492/3 | €2,440 | €2,014 | -€426 | -17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,176 | €49,041 | +€865 | +1.8% |
| Other operating charges | 640/8 | €10,329 | €10,652 | +€324 | +3.1% |
| Non-recurring operating charges | 66A | €343 | - | -€343 | |
| Gross operating margin | 9900 | €142,786 | €159,073 | +€16,287 | +11.4% |
| Operating profit (loss) | 9901 | €83,938 | €99,380 | +€15,442 | +18.4% |
| Financial income | 75/76B | €500 | €178 | -€322 | -64.3% |
| Recurring financial income | 75 | €500 | €178 | -€322 | -64.3% |
| Financial charges | 65/66B | €12,170 | €7,274 | -€4,897 | -40.2% |
| Recurring financial charges | 65 | €12,170 | €7,274 | -€4,897 | -40.2% |
| Profit (loss) for the period before taxes | 9903 | €72,268 | €92,284 | +€20,017 | +27.7% |
| Income taxes | 67/77 | €1,830 | €2,071 | +€241 | +13.2% |
| Profit (loss) for the period | 9904 | €70,437 | €90,213 | +€19,776 | +28.1% |
| Profit (loss) for the period to be appropriated | 9905 | €70,437 | €90,213 | +€19,776 | +28.1% |
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 25 October 2026 via checked.be.