ICM Europe: what changed
What changed
ICM Europe
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€53,928
2024 · -€67,896+€121,823
Equity
€31,532
2024 · -€22,395+€53,928
Cash
€2,944
2024 · -+€2,944
Balance sheet total
€884,011
2024 · €904,682-€20,671
Largest movements
Assets
- Intangible fixed assets -€20,088
down €20,088 (-11.9%), from €168,623 to €148,535
Equity and liabilities
- Other debts +€77,729
new in 2025: €77,729
- Accrued charges and deferred income -€67,830
down €67,830 (-67.8%), from €100,000 to €32,170
- Profit (loss) carried forward +€53,928
up €53,928 (+17.4%), from -€309,895 to -€255,968
- Debts after one year -€37,370
down €37,370 (-6.5%), from €576,300 to €538,930
- Tax, wage and social debts -€23,788
no longer reported in 2025 (was €23,788)
Income statement
- Gross operating margin +€79,050
up €79,050 (+673%), from €11,748 to €90,798
- Depreciation -€30,174
down €30,174 (-51.3%), from €58,860 to €28,686
- Financial charges -€11,581
down €11,581 (-58.6%), from €19,765 to €8,184
- Taxes -€1,019
no longer reported in 2025 (was €1,019)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€67,896
Gross operating margin
+€79,050
Depreciation
+€30,174
Financial charges
+€11,581
Taxes
+€1,019
Result 2025
€53,928
raises the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€47,693
Investment
-€1,476
Financing
-€43,272
Cash 2024
€0
From operations (derived)
+€47,693
Net result for the year
+€53,928
Depreciation
+€28,686
Receivables within one year
-€3,594
Trade debts
-€17,437
Tax, wage and social debts
-€23,788
Other debts
+€77,729
Accrued charges and deferred income
-€67,830
Investment (derived)
-€1,476
Investment in fixed assets (net)
-€1,476
Financing
-€43,272
Debts after one year
-€37,370
Short-term financial debts
-€5,903
Cash 2025
€2,944
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €904,682 | €884,011 | -€20,671 | -2.3% |
| Fixed assets | 21/28 | €571,645 | €544,435 | -€27,210 | -4.8% |
| Intangible fixed assets | 21 | €168,623 | €148,535 | -€20,088 | -11.9% |
| Tangible fixed assets | 22/27 | €102,847 | €95,725 | -€7,122 | -6.9% |
| Plant, machinery and equipment | 23 | €102,847 | €95,725 | -€7,122 | -6.9% |
| Financial fixed assets | 28 | €300,175 | €300,175 | = | 0.0% |
| Current assets | 29/58 | €333,037 | €339,576 | +€6,539 | +2.0% |
| Amounts receivable within one year | 40/41 | €333,037 | €336,631 | +€3,594 | +1.1% |
| Trade receivables | 40 | €175,872 | €148,063 | -€27,809 | -15.8% |
| Other amounts receivable | 41 | €157,165 | €188,568 | +€31,403 | +20.0% |
| Cash at bank and in hand | 54/58 | - | €2,944 | +€2,944 | |
| Total equity and liabilities | 10/49 | €904,682 | €884,011 | -€20,671 | -2.3% |
| Equity | 10/15 | -€22,395 | €31,532 | +€53,928 | |
| Contributions | 10/11 | €287,500 | €287,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€309,895 | -€255,968 | +€53,928 | +17.4% |
| Amounts payable | 17/49 | €927,077 | €852,479 | -€74,599 | -8.0% |
| Amounts payable after more than one year | 17 | €576,300 | €538,930 | -€37,370 | -6.5% |
| Financial debts | 170/4 | €576,300 | €538,930 | -€37,370 | -6.5% |
| Amounts payable within one year | 42/48 | €250,777 | €281,379 | +€30,601 | +12.2% |
| Financial debts | 43 | €207,211 | €201,308 | -€5,903 | -2.8% |
| Credit institutions | 430/8 | €207,211 | €201,308 | -€5,903 | -2.8% |
| Trade debts | 44 | €19,779 | €2,342 | -€17,437 | -88.2% |
| Suppliers | 440/4 | €19,779 | €2,342 | -€17,437 | -88.2% |
| Taxes, remuneration and social security | 45 | €23,788 | - | -€23,788 | |
| Taxes | 450/3 | €23,788 | - | -€23,788 | |
| Other amounts payable | 47/48 | - | €77,729 | +€77,729 | |
| Accrued charges and deferred income | 492/3 | €100,000 | €32,170 | -€67,830 | -67.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,860 | €28,686 | -€30,174 | -51.3% |
| Gross operating margin | 9900 | €11,748 | €90,798 | +€79,050 | +673% |
| Operating profit (loss) | 9901 | -€47,112 | €62,112 | +€109,224 | |
| Financial charges | 65/66B | €19,765 | €8,184 | -€11,581 | -58.6% |
| Recurring financial charges | 65 | €19,765 | €8,184 | -€11,581 | -58.6% |
| Profit (loss) for the period before taxes | 9903 | -€66,877 | €53,928 | +€120,805 | |
| Income taxes | 67/77 | €1,019 | - | -€1,019 | |
| Profit (loss) for the period | 9904 | -€67,896 | €53,928 | +€121,823 | |
| Profit (loss) for the period to be appropriated | 9905 | -€67,896 | €53,928 | +€121,823 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.