ICLAV: 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.
ICLAV
Largest movements
- Current investments +€4,661
up €4,661 (+3.7%), from €126,176 to €130,837
- Tangible fixed assets -€2,938
down €2,938 (-22.5%), from €13,051 to €10,113
- Profit (loss) carried forward +€2,329
up €2,329 (+4.1%), from -€57,059 to -€54,730
- Financial income -€5,666
down €5,666 (-41.1%), from €13,778 to €8,112
of which Non-recurring financial income: -€9,090
- Financial charges -€3,888
down €3,888 (-74.5%), from €5,216 to €1,328
of which Non-recurring financial charges: -€4,738
- Taxes -€1,312
down €1,312 (-53.6%), from €2,447 to €1,135
- Other operating charges +€170
up €170 (+20.3%), from €838 to €1,008
- Gross operating margin +€83
up €83 (+4.9%), from -€1,682 to -€1,599
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €148,644 | €149,114 | +€470 | +0.3% |
| Fixed assets | 21/28 | €13,051 | €10,113 | -€2,938 | -22.5% |
| Tangible fixed assets | 22/27 | €13,051 | €10,113 | -€2,938 | -22.5% |
| Land and buildings | 22 | €13,051 | €10,113 | -€2,938 | -22.5% |
| Current assets | 29/58 | €135,593 | €139,001 | +€3,408 | +2.5% |
| Current investments | 50/53 | €126,176 | €130,837 | +€4,661 | +3.7% |
| Cash at bank and in hand | 54/58 | €9,356 | €8,134 | -€1,222 | -13.1% |
| Deferred charges and accrued income | 490/1 | €61 | €30 | -€31 | -50.8% |
| Total equity and liabilities | 10/49 | €148,644 | €149,114 | +€470 | +0.3% |
| Equity | 10/15 | €69,278 | €70,139 | +€861 | +1.2% |
| Contributions | 10/11 | €111,000 | €111,000 | = | 0.0% |
| Capital | 10 | €111,000 | €111,000 | = | 0.0% |
| Issued capital | 100 | €111,000 | €111,000 | = | 0.0% |
| Reserves | 13 | €15,337 | €13,869 | -€1,468 | -9.6% |
| Non-distributable reserves | 130/1 | €10,932 | €10,932 | = | 0.0% |
| Legal reserve | 130 | €10,932 | €10,932 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,405 | €2,937 | -€1,468 | -33.3% |
| Profit (loss) carried forward | 14 | -€57,059 | -€54,730 | +€2,329 | +4.1% |
| Provisions and deferred taxes | 16 | €2,270 | €1,513 | -€757 | -33.3% |
| Deferred taxes | 168 | €2,270 | €1,513 | -€757 | -33.3% |
| Amounts payable | 17/49 | €77,096 | €77,462 | +€366 | +0.5% |
| Amounts payable within one year | 42/48 | €77,096 | €77,462 | +€366 | +0.5% |
| Taxes, remuneration and social security | 45 | €1,584 | €1,950 | +€366 | +23.1% |
| Taxes | 450/3 | €1,584 | €1,950 | +€366 | +23.1% |
| Other amounts payable | 47/48 | €75,512 | €75,512 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,938 | €2,938 | = | 0.0% |
| Other operating charges | 640/8 | €838 | €1,008 | +€170 | +20.3% |
| Gross operating margin | 9900 | -€1,682 | -€1,599 | +€83 | +4.9% |
| Operating profit (loss) | 9901 | -€5,458 | -€5,545 | -€87 | -1.6% |
| Financial income | 75/76B | €13,778 | €8,112 | -€5,666 | -41.1% |
| Recurring financial income | 75 | €3,000 | €6,424 | +€3,424 | +114.1% |
| Non-recurring financial income | 76B | €10,778 | €1,688 | -€9,090 | -84.3% |
| Financial charges | 65/66B | €5,216 | €1,328 | -€3,888 | -74.5% |
| Recurring financial charges | 65 | €478 | €1,328 | +€850 | +177.8% |
| Non-recurring financial charges | 66B | €4,738 | - | -€4,738 | |
| Profit (loss) for the period before taxes | 9903 | €3,104 | €1,239 | -€1,865 | -60.1% |
| Transfer from deferred taxes | 780 | €756 | €757 | +€1 | +0.1% |
| Income taxes | 67/77 | €2,447 | €1,135 | -€1,312 | -53.6% |
| Profit (loss) for the period | 9904 | €1,413 | €861 | -€552 | -39.1% |
| Transfer from tax-exempt reserves | 789 | €1,469 | €1,468 | -€1 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,882 | €2,329 | -€553 | -19.2% |
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 11 October 2026 via checked.be.