ICM Watersystem: 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.
ICM Watersystem
Largest movements
- Receivables within one year -€24,418
down €24,418 (-20.2%), from €121,164 to €96,746
of which Trade receivables: -€45,364
- Stocks and contracts +€12,275
up €12,275 (+15.9%), from €77,068 to €89,343
- Cash +€5,816
up €5,816 (+376.3%), from €1,546 to €7,362
mainly Receivables within one year (+€24,418) and Trade debts (+€9,482)
- Tangible fixed assets +€3,398
new in 2025: €3,398
- Other debts -€12,079
no longer reported in 2025 (was €12,079)
- Trade debts +€9,482
up €9,482 (+506.8%), from €1,871 to €11,353
- Tax, wage and social debts -€7,356
down €7,356 (-22.4%), from €32,770 to €25,414
of which Remuneration and social security: -€6,352
- Profit (loss) carried forward +€7,030
up €7,030 (+5.2%), from €135,485 to €142,515
- Gross operating margin +€20,604
up €20,604 (+19.8%), from €104,195 to €124,799
- Staff costs +€15,903
up €15,903 (+17.5%), from €90,657 to €106,561
- Other operating charges +€1,686
up €1,686 (+76.8%), from €2,195 to €3,880
- Taxes +€1,412
up €1,412 (+39.4%), from €3,587 to €4,999
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 | €203,568 | €200,181 | -€3,387 | -1.7% |
| Fixed assets | 21/28 | €2,250 | €5,648 | +€3,398 | +151.0% |
| Tangible fixed assets | 22/27 | - | €3,398 | +€3,398 | |
| Furniture and vehicles | 24 | - | €3,398 | +€3,398 | |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €201,318 | €194,532 | -€6,785 | -3.4% |
| Stocks and contracts in progress | 3 | €77,068 | €89,343 | +€12,275 | +15.9% |
| Stocks | 30/36 | €77,068 | €89,343 | +€12,275 | +15.9% |
| Amounts receivable within one year | 40/41 | €121,164 | €96,746 | -€24,418 | -20.2% |
| Trade receivables | 40 | €106,364 | €61,000 | -€45,364 | -42.6% |
| Other amounts receivable | 41 | €14,800 | €35,746 | +€20,946 | +141.5% |
| Cash at bank and in hand | 54/58 | €1,546 | €7,362 | +€5,816 | +376.3% |
| Deferred charges and accrued income | 490/1 | €1,540 | €1,081 | -€459 | -29.8% |
| Total equity and liabilities | 10/49 | €203,568 | €200,181 | -€3,387 | -1.7% |
| Equity | 10/15 | €156,385 | €163,415 | +€7,030 | +4.5% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Outside capital | 11 | €19,000 | €19,000 | = | 0.0% |
| Other | 1109/19 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,900 | €1,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €135,485 | €142,515 | +€7,030 | +5.2% |
| Amounts payable | 17/49 | €47,183 | €36,766 | -€10,417 | -22.1% |
| Amounts payable within one year | 42/48 | €47,183 | €36,766 | -€10,417 | -22.1% |
| Financial debts | 43 | €463 | - | -€463 | |
| Credit institutions | 430/8 | €463 | - | -€463 | |
| Trade debts | 44 | €1,871 | €11,353 | +€9,482 | +506.8% |
| Suppliers | 440/4 | €1,871 | €11,353 | +€9,482 | +506.8% |
| Taxes, remuneration and social security | 45 | €32,770 | €25,414 | -€7,356 | -22.4% |
| Taxes | 450/3 | €26,418 | €25,414 | -€1,005 | -3.8% |
| Remuneration and social security | 454/9 | €6,352 | - | -€6,352 | |
| Other amounts payable | 47/48 | €12,079 | - | -€12,079 | |
| Remuneration, social security and pensions | 62 | €90,657 | €106,561 | +€15,903 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €486 | €729 | +€244 | +50.1% |
| Other operating charges | 640/8 | €2,195 | €3,880 | +€1,686 | +76.8% |
| Gross operating margin | 9900 | €104,195 | €124,799 | +€20,604 | +19.8% |
| Operating profit (loss) | 9901 | €10,858 | €13,629 | +€2,771 | +25.5% |
| Financial charges | 65/66B | €2,781 | €1,600 | -€1,181 | -42.5% |
| Recurring financial charges | 65 | €2,781 | €1,600 | -€1,181 | -42.5% |
| Profit (loss) for the period before taxes | 9903 | €8,077 | €12,029 | +€3,952 | +48.9% |
| Income taxes | 67/77 | €3,587 | €4,999 | +€1,412 | +39.4% |
| Profit (loss) for the period | 9904 | €4,490 | €7,030 | +€2,540 | +56.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,490 | €7,030 | +€2,540 | +56.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.