ICICO: 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.
ICICO
Largest movements
- Receivables within one year -€95,204
down €95,204 (-80.4%), from €118,346 to €23,142
of which Trade receivables: -€76,368
- Stocks and contracts -€41,290
down €41,290 (-87.8%), from €47,040 to €5,750
- Tangible fixed assets -€28,966
down €28,966 (-22.1%), from €130,821 to €101,855
of which Furniture and vehicles: -€24,530
- Provisions -€92,129
no longer reported in 2025 (was €92,129)
- Trade debts -€64,990
down €64,990 (-62.3%), from €104,240 to €39,250
- Tax, wage and social debts -€42,341
down €42,341 (-77.3%), from €54,781 to €12,440
- Profit (loss) carried forward +€40,246
up €40,246, from -€25,103 to €15,143
- Provisions -€92,129
new in 2025: -€92,129
- Taxes +€11,716
up €11,716, from -€254 to €11,463
- Other operating charges +€11,520
up €11,520 (+325%), from €3,545 to €15,065
- Depreciation +€2,370
up €2,370 (+8.7%), from €27,381 to €29,751
- Staff costs -€1,707
no longer reported in 2025 (was €1,707)
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 | €1,062,469 | €893,630 | -€168,838 | -15.9% |
| Fixed assets | 21/28 | €130,821 | €101,855 | -€28,966 | -22.1% |
| Tangible fixed assets | 22/27 | €130,821 | €101,855 | -€28,966 | -22.1% |
| Land and buildings | 22 | €26,810 | €24,593 | -€2,217 | -8.3% |
| Plant, machinery and equipment | 23 | €3,895 | €1,676 | -€2,219 | -57.0% |
| Furniture and vehicles | 24 | €100,116 | €75,586 | -€24,530 | -24.5% |
| Current assets | 29/58 | €931,647 | €791,775 | -€139,872 | -15.0% |
| Stocks and contracts in progress | 3 | €47,040 | €5,750 | -€41,290 | -87.8% |
| Stocks | 30/36 | €47,040 | €5,750 | -€41,290 | -87.8% |
| Amounts receivable within one year | 40/41 | €118,346 | €23,142 | -€95,204 | -80.4% |
| Trade receivables | 40 | €94,844 | €18,476 | -€76,368 | -80.5% |
| Other amounts receivable | 41 | €23,501 | €4,665 | -€18,836 | -80.1% |
| Cash at bank and in hand | 54/58 | €766,262 | €762,884 | -€3,378 | -0.4% |
| Total equity and liabilities | 10/49 | €1,062,469 | €893,630 | -€168,838 | -15.9% |
| Equity | 10/15 | €797,792 | €838,038 | +€40,246 | +5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €804,295 | €804,295 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,211 | €14,211 | = | 0.0% |
| Distributable reserves | 133 | €788,225 | €788,225 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,103 | €15,143 | +€40,246 | |
| Provisions and deferred taxes | 16 | €92,129 | - | -€92,129 | |
| Provisions for liabilities and charges | 160/5 | €92,129 | - | -€92,129 | |
| Pensions and similar obligations | 160 | €92,129 | - | -€92,129 | |
| Amounts payable | 17/49 | €172,547 | €55,592 | -€116,955 | -67.8% |
| Amounts payable within one year | 42/48 | €172,547 | €55,592 | -€116,955 | -67.8% |
| Current portion of amounts payable after more than one year | 42 | €2,130 | €2,130 | = | 0.0% |
| Trade debts | 44 | €104,240 | €39,250 | -€64,990 | -62.3% |
| Suppliers | 440/4 | €104,240 | €39,250 | -€64,990 | -62.3% |
| Taxes, remuneration and social security | 45 | €54,781 | €12,440 | -€42,341 | -77.3% |
| Taxes | 450/3 | €54,781 | €12,440 | -€42,341 | -77.3% |
| Other amounts payable | 47/48 | €11,396 | €1,772 | -€9,624 | -84.5% |
| Remuneration, social security and pensions | 62 | €1,707 | - | -€1,707 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,381 | €29,751 | +€2,370 | +8.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€92,129 | -€92,129 | |
| Other operating charges | 640/8 | €3,545 | €15,065 | +€11,520 | +325% |
| Gross operating margin | 9900 | -€1,525 | -€1,522 | +€3 | +0.2% |
| Operating profit (loss) | 9901 | -€34,157 | €45,791 | +€79,948 | |
| Financial income | 75/76B | €5,278 | €6,636 | +€1,358 | +25.7% |
| Recurring financial income | 75 | €5,278 | €6,636 | +€1,358 | +25.7% |
| Financial charges | 65/66B | €505 | €719 | +€214 | +42.3% |
| Recurring financial charges | 65 | €505 | €719 | +€214 | +42.3% |
| Profit (loss) for the period before taxes | 9903 | -€29,384 | €51,708 | +€81,093 | |
| Income taxes | 67/77 | -€254 | €11,463 | +€11,716 | |
| Profit (loss) for the period | 9904 | -€29,131 | €40,246 | +€69,376 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,131 | €40,246 | +€69,376 |
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 17 October 2026 via checked.be.