ICO: 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.
What changed
ICO
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€916
2024 · €96,944-€96,028
Equity
€11.9m
2024 · €11.9m-€11,359
Cash
€94,250
2024 · €206,194-€111,945
Balance sheet total
€16.8m
2024 · €14.6m+€2.2m
Largest movements
Assets
- Tangible fixed assets +€1.9m
up €1.9m (+24.1%), from €7.7m to €9.6m
of which Land and buildings: +€2.0m
- Receivables within one year +€440,190
up €440,190 (+39.7%), from €1.1m to €1.5m
of which Trade receivables: +€406,761
Equity and liabilities
- Debts after one year +€1.4m
up €1.4m (+198.1%), from €730,691 to €2.2m
- Current portion of long-term debt +€383,475
up €383,475 (+226.5%), from €169,309 to €552,784
- Other debts +€348,508
up €348,508 (+32.0%), from €1.1m to €1.4m
Income statement
- Turnover +€161,173
up €161,173 (+5.0%), from €3.2m to €3.4m
- Staff costs +€113,141
up €113,141 (+7.5%), from €1.5m to €1.6m
- Services and other goods +€93,361
up €93,361 (+7.7%), from €1.2m to €1.3m
- Taxes -€62,800
down €62,800 (-73.4%), from €85,609 to €22,809
of which Taxes: -€64,100
- Other operating income -€52,452
down €52,452 (-20.8%), from €252,228 to €199,776
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.
Result 2024
€96,944
Turnover
+€161,173
Other operating income
-€52,452
Services and other goods
-€93,361
Staff costs
-€113,141
Depreciation
-€18,908
Other operating charges
+€10,118
Other operating items
-€9,392
Financial income
-€37
Financial charges
-€22,873
Taxes
+€62,800
Deferred taxes and other
-€19,955
Result 2025
€916
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.
From operations
+€321,481
Investment
-€2.3m
Financing
+€1.8m
Cash 2024
€206,194
From operations (derived)
+€321,481
Net result for the year
+€916
Depreciation
+€389,551
Receivables within one year
-€440,190
Provisions
-€11,190
Trade debts
+€68,314
Tax, wage and social debts
-€34,428
Other debts
+€348,508
Investment (derived)
-€2.3m
Investment in fixed assets (net)
-€2.3m
Financing
+€1.8m
Debts after one year
+€1.4m
Current portion of long-term debt
+€383,475
Contributions, distributions and other
-€12,275
Cash 2025
€94,250
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,590,142 | €16,780,679 | +€2.2m | +15.0% |
| Fixed assets | 21/28 | €13,274,282 | €15,136,574 | +€1.9m | +14.0% |
| Tangible fixed assets | 22/27 | €7,712,304 | €9,574,596 | +€1.9m | +24.1% |
| Land and buildings | 22 | €7,356,783 | €9,331,218 | +€2.0m | +26.8% |
| Plant, machinery and equipment | 23 | €228,068 | €128,667 | -€99,401 | -43.6% |
| Furniture and vehicles | 24 | €127,454 | €114,712 | -€12,742 | -10.0% |
| Financial fixed assets | 28 | €5,561,978 | €5,561,978 | = | 0.0% |
| Affiliated companies | 280/1 | €5,561,978 | €5,561,978 | = | 0.0% |
| Participating interests | 280 | €5,561,978 | €5,561,978 | = | 0.0% |
| Current assets | 29/58 | €1,315,860 | €1,644,105 | +€328,246 | +24.9% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,109,665 | €1,549,855 | +€440,190 | +39.7% |
| Trade receivables | 40 | €422,600 | €829,361 | +€406,761 | +96.3% |
| Other amounts receivable | 41 | €687,066 | €720,494 | +€33,429 | +4.9% |
| Cash at bank and in hand | 54/58 | €206,194 | €94,250 | -€111,945 | -54.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €14,590,142 | €16,780,679 | +€2.2m | +15.0% |
| Equity | 10/15 | €11,870,618 | €11,859,259 | -€11,359 | -0.1% |
| Contributions | 10/11 | €373,745 | €373,745 | = | 0.0% |
| Capital | 10 | €373,745 | €373,745 | = | 0.0% |
| Issued capital | 100 | €373,745 | €373,745 | = | 0.0% |
| Reserves | 13 | €11,451,317 | €11,442,260 | -€9,056 | -0.1% |
| Non-distributable reserves | 130/1 | €187,375 | €187,375 | = | 0.0% |
| Legal reserve | 130 | €187,375 | €187,375 | = | 0.0% |
| Tax-exempt reserves | 132 | €167,445 | €136,178 | -€31,268 | -18.7% |
| Distributable reserves | 133 | €11,096,496 | €11,118,708 | +€22,212 | +0.2% |
| Investment grants | 15 | €45,556 | €43,253 | -€2,303 | -5.1% |
| Provisions and deferred taxes | 16 | €65,715 | €54,524 | -€11,190 | -17.0% |
| Deferred taxes | 168 | €65,715 | €54,524 | -€11,190 | -17.0% |
| Amounts payable | 17/49 | €2,653,809 | €4,866,895 | +€2.2m | +83.4% |
| Amounts payable after more than one year | 17 | €730,691 | €2,177,907 | +€1.4m | +198.1% |
| Financial debts | 170/4 | €730,691 | €2,177,907 | +€1.4m | +198.1% |
| Credit institutions | 173 | €730,691 | €2,177,907 | +€1.4m | +198.1% |
| Amounts payable within one year | 42/48 | €1,923,118 | €2,688,988 | +€765,870 | +39.8% |
| Current portion of amounts payable after more than one year | 42 | €169,309 | €552,784 | +€383,475 | +226.5% |
| Trade debts | 44 | €216,868 | €285,182 | +€68,314 | +31.5% |
| Suppliers | 440/4 | €216,868 | €285,182 | +€68,314 | +31.5% |
| Taxes, remuneration and social security | 45 | €449,051 | €414,624 | -€34,428 | -7.7% |
| Taxes | 450/3 | €218,231 | €199,683 | -€18,547 | -8.5% |
| Remuneration and social security | 454/9 | €230,821 | €214,941 | -€15,880 | -6.9% |
| Other amounts payable | 47/48 | €1,087,890 | €1,436,398 | +€348,508 | +32.0% |
| Operating income | 70/76A | €3,448,784 | €3,558,558 | +€109,775 | +3.2% |
| Turnover | 70 | €3,196,556 | €3,357,729 | +€161,173 | +5.0% |
| Other operating income | 74 | €252,228 | €199,776 | -€52,452 | -20.8% |
| Non-recurring operating income | 76A | €0 | €1,054 | +€1,054 | |
| Operating charges | 60/66A | €3,295,560 | €3,521,298 | +€225,738 | +6.8% |
| Services and other goods | 61 | €1,216,043 | €1,309,403 | +€93,361 | +7.7% |
| Remuneration, social security and pensions | 62 | €1,511,644 | €1,624,785 | +€113,141 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €370,643 | €389,551 | +€18,908 | +5.1% |
| Other operating charges | 640/8 | €197,231 | €187,113 | -€10,118 | -5.1% |
| Non-recurring operating charges | 66A | - | €10,446 | +€10,446 | |
| Operating profit (loss) | 9901 | €153,223 | €37,260 | -€115,963 | -75.7% |
| Financial income | 75/76B | €2,339 | €2,303 | -€37 | -1.6% |
| Recurring financial income | 75 | €2,339 | €2,303 | -€37 | -1.6% |
| Other financial income | 752/9 | €2,339 | €2,303 | -€37 | -1.6% |
| Financial charges | 65/66B | €4,156 | €27,028 | +€22,873 | +550.4% |
| Recurring financial charges | 65 | €4,156 | €27,028 | +€22,873 | +550.4% |
| Debt charges | 650 | €49 | €22,931 | +€22,882 | +47015.2% |
| Other financial charges | 652/9 | €4,107 | €4,097 | -€10 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €151,407 | €12,535 | -€138,872 | -91.7% |
| Transfer from deferred taxes | 780 | €31,145 | €11,190 | -€19,955 | -64.1% |
| Income taxes | 67/77 | €85,609 | €22,809 | -€62,800 | -73.4% |
| Taxes | 670/3 | €87,000 | €22,900 | -€64,100 | -73.7% |
| Tax adjustments and reversals of tax provisions | 77 | €1,391 | €91 | -€1,300 | -93.4% |
| Profit (loss) for the period | 9904 | €96,944 | €916 | -€96,028 | -99.1% |
| Transfer from tax-exempt reserves | 789 | €91,133 | €31,268 | -€59,866 | -65.7% |
| Profit (loss) for the period to be appropriated | 9905 | €188,077 | €32,184 | -€155,894 | -82.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.