ICK: what changed
Two fiscal 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
ICK
NACE 41.001, General construction of residential buildings
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€357,913
2024 · €262,094+€95,819
Equity
€2.4m
2024 · €2.2m+€257,913
Cash
€67,207
2024 · €66,988+€219
Balance sheet total
€3.9m
2024 · €3.6m+€304,137
Largest movements
Assets
- Tangible fixed assets +€205,916
up €205,916 (+19.8%), from €1.0m to €1.2m
of which Leasing and similar rights: +€262,853
- Receivables within one year -€151,053
down €151,053 (-24.5%), from €616,484 to €465,431
of which Other amounts receivable: -€84,965
- Current investments +€150,180
up €150,180 (+30.0%), from €500,737 to €650,918
- Stocks and contracts +€97,069
up €97,069 (+7.2%), from €1.3m to €1.4m
of which Stocks: +€61,004
Equity and liabilities
- Profit (loss) carried forward +€257,913
up €257,913 (+22.7%), from €1.1m to €1.4m
- Trade debts -€129,641
down €129,641 (-36.4%), from €355,981 to €226,340
- Debts after one year +€93,001
up €93,001 (+15.7%), from €591,124 to €684,126
- Current portion of long-term debt +€54,312
up €54,312 (+37.1%), from €146,537 to €200,849
Income statement
- Gross operating margin +€217,306
up €217,306 (+8.5%), from €2.6m to €2.8m
- Staff costs +€58,444
up €58,444 (+3.1%), from €1.9m to €2.0m
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
€262,094
Gross operating margin
+€217,306
Staff costs
-€58,444
Depreciation
-€13,644
Other operating charges
+€1,368
Other operating items
-€35,602
Financial income
+€849
Financial charges
+€682
Taxes
-€16,695
Result 2025
€357,913
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.
From operations
+€556,885
Investment
-€603,980
Financing
+€47,313
Cash 2024
€66,988
From operations (derived)
+€556,885
Net result for the year
+€357,913
Depreciation
+€247,663
Stocks and contracts
-€97,069
Receivables within one year
+€151,053
Deferred charges and accrued income
-€1,585
Trade debts
-€129,641
Tax, wage and social debts
+€26,852
Accrued charges and deferred income
+€1,700
Investment (derived)
-€603,980
Investment in fixed assets (net)
-€453,799
Current investments
-€150,180
Financing
+€47,313
Debts after one year
+€93,001
Current portion of long-term debt
+€54,312
Contributions, distributions and other
-€100,000
Cash 2025
€67,207
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,586,685 | €3,890,822 | +€304,137 | +8.5% |
| Fixed assets | 21/28 | €1,048,432 | €1,254,569 | +€206,136 | +19.7% |
| Tangible fixed assets | 22/27 | €1,038,362 | €1,244,279 | +€205,916 | +19.8% |
| Land and buildings | 22 | €439,883 | €374,378 | -€65,505 | -14.9% |
| Plant, machinery and equipment | 23 | €391,716 | €402,317 | +€10,601 | +2.7% |
| Furniture and vehicles | 24 | €2,266 | €232 | -€2,033 | -89.7% |
| Leasing and similar rights | 25 | €204,499 | €467,352 | +€262,853 | +128.5% |
| Financial fixed assets | 28 | €10,070 | €10,290 | +€220 | +2.2% |
| Current assets | 29/58 | €2,538,252 | €2,636,254 | +€98,001 | +3.9% |
| Stocks and contracts in progress | 3 | €1,340,631 | €1,437,700 | +€97,069 | +7.2% |
| Stocks | 30/36 | €1,177,752 | €1,238,757 | +€61,004 | +5.2% |
| Contracts in progress | 37 | €162,879 | €198,944 | +€36,065 | +22.1% |
| Amounts receivable within one year | 40/41 | €616,484 | €465,431 | -€151,053 | -24.5% |
| Trade receivables | 40 | €531,519 | €465,431 | -€66,088 | -12.4% |
| Other amounts receivable | 41 | €84,965 | - | -€84,965 | |
| Current investments | 50/53 | €500,737 | €650,918 | +€150,180 | +30.0% |
| Cash at bank and in hand | 54/58 | €66,988 | €67,207 | +€219 | +0.3% |
| Deferred charges and accrued income | 490/1 | €13,413 | €14,998 | +€1,585 | +11.8% |
| Total equity and liabilities | 10/49 | €3,586,685 | €3,890,822 | +€304,137 | +8.5% |
| Equity | 10/15 | €2,177,388 | €2,435,301 | +€257,913 | +11.8% |
| Contributions | 10/11 | €172,310 | €172,310 | = | 0.0% |
| Capital | 10 | €172,310 | €172,310 | = | 0.0% |
| Issued capital | 100 | €172,310 | €172,310 | = | 0.0% |
| Reserves | 13 | €866,490 | €866,490 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,231 | €17,231 | = | 0.0% |
| Legal reserve | 130 | €17,231 | €17,231 | = | 0.0% |
| Distributable reserves | 133 | €849,259 | €849,259 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,138,588 | €1,396,501 | +€257,913 | +22.7% |
| Amounts payable | 17/49 | €1,409,297 | €1,455,521 | +€46,224 | +3.3% |
| Amounts payable after more than one year | 17 | €591,124 | €684,126 | +€93,001 | +15.7% |
| Financial debts | 170/4 | €591,124 | €684,126 | +€93,001 | +15.7% |
| Amounts payable within one year | 42/48 | €813,838 | €765,361 | -€48,477 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €146,537 | €200,849 | +€54,312 | +37.1% |
| Trade debts | 44 | €355,981 | €226,340 | -€129,641 | -36.4% |
| Suppliers | 440/4 | €355,981 | €226,340 | -€129,641 | -36.4% |
| Taxes, remuneration and social security | 45 | €311,319 | €338,171 | +€26,852 | +8.6% |
| Taxes | 450/3 | €52,920 | €99,484 | +€46,564 | +88.0% |
| Remuneration and social security | 454/9 | €258,400 | €238,688 | -€19,712 | -7.6% |
| Accrued charges and deferred income | 492/3 | €4,335 | €6,035 | +€1,700 | +39.2% |
| Remuneration, social security and pensions | 62 | €1,902,069 | €1,960,513 | +€58,444 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €234,019 | €247,663 | +€13,644 | +5.8% |
| Other operating charges | 640/8 | €36,178 | €34,811 | -€1,368 | -3.8% |
| Non-recurring operating charges | 66A | €267 | €35,870 | +€35,602 | +13330.8% |
| Gross operating margin | 9900 | €2,567,376 | €2,784,682 | +€217,306 | +8.5% |
| Operating profit (loss) | 9901 | €394,843 | €505,826 | +€110,983 | +28.1% |
| Financial income | 75/76B | €2,391 | €3,240 | +€849 | +35.5% |
| Recurring financial income | 75 | €2,391 | €3,240 | +€849 | +35.5% |
| Financial charges | 65/66B | €40,433 | €39,750 | -€682 | -1.7% |
| Recurring financial charges | 65 | €40,433 | €39,750 | -€682 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €356,801 | €469,316 | +€112,514 | +31.5% |
| Income taxes | 67/77 | €94,707 | €111,403 | +€16,695 | +17.6% |
| Profit (loss) for the period | 9904 | €262,094 | €357,913 | +€95,819 | +36.6% |
| Profit (loss) for the period to be appropriated | 9905 | €262,094 | €357,913 | +€95,819 | +36.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.