ICO: 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.
ICO
Largest movements
- Tangible fixed assets -€100,163
down €100,163 (-71.5%), from €139,996 to €39,833
- Cash +€93,072
up €93,072 (+4359.3%), from €2,135 to €95,207
mainly Investment in fixed assets (net) (+€95,601) and Net result for the year (+€32,681)
- Other debts -€29,631
no longer reported in 2025 (was €29,631)
- Profit (loss) carried forward +€20,220
no longer reported in 2025 (was -€20,220)
- Reserves +€12,082
up €12,082 (+27.0%), from €44,742 to €56,824
of which Distributable reserves: +€17,191
- Debts after one year -€10,119
down €10,119 (-41.4%), from €24,455 to €14,336
- Provisions -€1,686
down €1,686 (-6.9%), from €24,510 to €22,824
- Turnover -€22,832
down €22,832 (-52.1%), from €43,805 to €20,973
- Gross operating margin +€22,816
up €22,816 (+133.0%), from €17,153 to €39,969
- Depreciation -€4,286
down €4,286 (-48.4%), from €8,848 to €4,562
- Purchases and services +€3,527
up €3,527 (+13.2%), from €26,652 to €30,179
- Taxes +€1,045
up €1,045 (+253.6%), from €412 to €1,457
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 | €144,637 | €136,454 | -€8,183 | -5.7% |
| Fixed assets | 21/28 | €139,996 | €39,833 | -€100,163 | -71.5% |
| Tangible fixed assets | 22/27 | €139,996 | €39,833 | -€100,163 | -71.5% |
| Land and buildings | 22 | €139,996 | €39,833 | -€100,163 | -71.5% |
| Current assets | 29/58 | €4,641 | €96,621 | +€91,980 | +1981.9% |
| Cash at bank and in hand | 54/58 | €2,135 | €95,207 | +€93,072 | +4359.3% |
| Deferred charges and accrued income | 490/1 | €2,506 | €1,414 | -€1,092 | -43.6% |
| Total equity and liabilities | 10/49 | €144,637 | €136,454 | -€8,183 | -5.7% |
| Equity | 10/15 | €55,922 | €88,224 | +€32,302 | +57.8% |
| Contributions | 10/11 | €31,400 | €31,400 | = | 0.0% |
| Reserves | 13 | €44,742 | €56,824 | +€12,082 | +27.0% |
| Non-distributable reserves | 130/1 | €39 | €39 | = | 0.0% |
| Reserves not available under the articles | 1311 | €39 | €39 | = | 0.0% |
| Tax-exempt reserves | 132 | €44,703 | €39,594 | -€5,109 | -11.4% |
| Distributable reserves | 133 | - | €17,191 | +€17,191 | |
| Profit (loss) carried forward | 14 | -€20,220 | - | +€20,220 | |
| Provisions and deferred taxes | 16 | €24,510 | €22,824 | -€1,686 | -6.9% |
| Deferred taxes | 168 | €24,510 | €22,824 | -€1,686 | -6.9% |
| Amounts payable | 17/49 | €64,205 | €25,406 | -€38,799 | -60.4% |
| Amounts payable after more than one year | 17 | €24,455 | €14,336 | -€10,119 | -41.4% |
| Financial debts | 170/4 | €24,455 | €14,336 | -€10,119 | -41.4% |
| Amounts payable within one year | 42/48 | €39,750 | €11,070 | -€28,680 | -72.2% |
| Current portion of amounts payable after more than one year | 42 | €10,119 | €10,119 | = | 0.0% |
| Taxes, remuneration and social security | 45 | - | €951 | +€951 | |
| Taxes | 450/3 | - | €951 | +€951 | |
| Other amounts payable | 47/48 | €29,631 | - | -€29,631 | |
| Turnover | 70 | €43,805 | €20,973 | -€22,832 | -52.1% |
| Non-recurring operating income | 76A | - | €49,175 | +€49,175 | |
| Goods, raw materials, services and sundry goods | 60/61 | €26,652 | €30,179 | +€3,527 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,848 | €4,562 | -€4,286 | -48.4% |
| Other operating charges | 640/8 | €2,761 | €1,778 | -€983 | -35.6% |
| Gross operating margin | 9900 | €17,153 | €39,969 | +€22,816 | +133.0% |
| Operating profit (loss) | 9901 | €5,544 | €33,629 | +€28,085 | +506.6% |
| Financial income | 75/76B | - | €12 | +€12 | |
| Recurring financial income | 75 | - | €12 | +€12 | |
| Non-recurring financial income | 76B | - | €12 | +€12 | |
| Financial charges | 65/66B | €1,520 | €1,189 | -€331 | -21.8% |
| Recurring financial charges | 65 | €1,520 | €1,189 | -€331 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €4,024 | €32,452 | +€28,428 | +706.5% |
| Transfer from deferred taxes | 780 | €1,686 | €1,686 | = | 0.0% |
| Income taxes | 67/77 | €412 | €1,457 | +€1,045 | +253.6% |
| Profit (loss) for the period | 9904 | €5,298 | €32,681 | +€27,383 | +516.9% |
| Transfer from tax-exempt reserves | 789 | €5,110 | €5,110 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,408 | €37,791 | +€27,383 | +263.1% |
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 10 October 2026 via checked.be.