ICN DEVELOPMENT: 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.
ICN DEVELOPMENT
Largest movements
- Cash +€290,765
up €290,765 (+309%), from €94,155 to €384,919
mainly Other debts (+€1.4m) and Depreciation (+€74,633)
- Tangible fixed assets -€72,750
down €72,750 (-20.2%), from €360,497 to €287,747
of which Other tangible fixed assets: -€56,379
- Other debts +€1.4m
up €1.4m (+41.7%), from €3.4m to €4.8m
- Profit (loss) carried forward -€631,162
down €631,162 (-32.2%), from -€2.0m to -€2.6m
- Trade debts -€594,528
down €594,528 (-16.0%), from €3.7m to €3.1m
- Gross operating margin +€2.9m
up €2.9m (+89.6%), from -€3.2m to -€332,784
- Write-downs +€1.4m
up €1.4m (+98.2%), from -€1.4m to -€25,000
- Staff costs +€205,758
up €205,758, from -€141,505 to €64,253
- Financial charges +€120,289
up €120,289 (+165%), from €72,812 to €193,101
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 | €5,172,869 | €5,375,724 | +€202,854 | +3.9% |
| Fixed assets | 21/28 | €366,580 | €293,397 | -€73,182 | -20.0% |
| Intangible fixed assets | 21 | €432 | €0 | -€432 | -100% |
| Tangible fixed assets | 22/27 | €360,497 | €287,747 | -€72,750 | -20.2% |
| Plant, machinery and equipment | 23 | €27,870 | €23,596 | -€4,274 | -15.3% |
| Furniture and vehicles | 24 | €57,980 | €45,884 | -€12,096 | -20.9% |
| Other tangible fixed assets | 26 | €274,647 | €218,268 | -€56,379 | -20.5% |
| Financial fixed assets | 28 | €5,650 | €5,650 | = | 0.0% |
| Current assets | 29/58 | €4,806,290 | €5,082,326 | +€276,036 | +5.7% |
| Amounts receivable within one year | 40/41 | €4,709,084 | €4,695,691 | -€13,393 | -0.3% |
| Trade receivables | 40 | €3,614,837 | €3,490,963 | -€123,873 | -3.4% |
| Other amounts receivable | 41 | €1,094,248 | €1,204,728 | +€110,480 | +10.1% |
| Cash at bank and in hand | 54/58 | €94,155 | €384,919 | +€290,765 | +309% |
| Deferred charges and accrued income | 490/1 | €3,051 | €1,716 | -€1,335 | -43.8% |
| Total equity and liabilities | 10/49 | €5,172,869 | €5,375,724 | +€202,854 | +3.9% |
| Equity | 10/15 | -€1,940,007 | -€2,571,168 | -€631,162 | -32.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,962,007 | -€2,593,168 | -€631,162 | -32.2% |
| Amounts payable | 17/49 | €7,112,876 | €7,946,892 | +€834,016 | +11.7% |
| Amounts payable within one year | 42/48 | €7,112,876 | €7,940,788 | +€827,912 | +11.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €3,715,439 | €3,120,911 | -€594,528 | -16.0% |
| Suppliers | 440/4 | €3,715,439 | €3,120,911 | -€594,528 | -16.0% |
| Taxes, remuneration and social security | 45 | €19,493 | €34,573 | +€15,079 | +77.4% |
| Taxes | 450/3 | €401 | €2,794 | +€2,393 | +597% |
| Remuneration and social security | 454/9 | €19,092 | €31,779 | +€12,686 | +66.4% |
| Other amounts payable | 47/48 | €3,377,944 | €4,785,305 | +€1.4m | +41.7% |
| Accrued charges and deferred income | 492/3 | €0 | €6,104 | +€6,104 | |
| Remuneration, social security and pensions | 62 | -€141,505 | €64,253 | +€205,758 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,078 | €74,633 | -€15,445 | -17.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,381,000 | -€25,000 | +€1.4m | +98.2% |
| Other operating charges | 640/8 | €24,497 | €23,577 | -€920 | -3.8% |
| Gross operating margin | 9900 | -€3,192,177 | -€332,784 | +€2.9m | +89.6% |
| Operating profit (loss) | 9901 | -€1,784,247 | -€470,246 | +€1.3m | +73.6% |
| Financial income | 75/76B | €29,178 | €32,185 | +€3,007 | +10.3% |
| Recurring financial income | 75 | €29,178 | €32,185 | +€3,007 | +10.3% |
| Financial charges | 65/66B | €72,812 | €193,101 | +€120,289 | +165% |
| Recurring financial charges | 65 | €72,812 | €193,101 | +€120,289 | +165% |
| Profit (loss) for the period before taxes | 9903 | -€1,827,880 | -€631,162 | +€1.2m | +65.5% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€1,827,880 | -€631,162 | +€1.2m | +65.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,827,880 | -€631,162 | +€1.2m | +65.5% |
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 20 October 2026 via checked.be.