iConec Wave: 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.
iConec Wave
Largest movements
- Receivables within one year -€128,165
down €128,165 (-30.2%), from €424,678 to €296,514
of which Trade receivables: -€140,744
- Cash +€81,341
up €81,341 (+88.0%), from €92,383 to €173,724
mainly Receivables within one year (+€128,165) and Net result for the year (+€114,863)
- Tangible fixed assets -€11,496
down €11,496 (-34.2%), from €33,636 to €22,140
of which Furniture and vehicles: -€10,990
- Profit (loss) carried forward -€82,137
down €82,137 (-99.2%), from €82,803 to €666
- Reserves -€62,350
down €62,350 (-75.4%), from €82,710 to €20,360
- Other debts +€41,047
up €41,047 (+12.6%), from €325,686 to €366,733
- Trade debts +€40,151
up €40,151 (+175.7%), from €22,851 to €63,003
- Accrued charges and deferred income +€8,246
up €8,246 (+56.0%), from €14,734 to €22,980
- Staff costs +€80,300
up €80,300 (+133.5%), from €60,132 to €140,432
- Gross operating margin -€35,351
down €35,351 (-10.5%), from €336,830 to €301,479
- Taxes -€28,539
down €28,539 (-46.2%), from €61,819 to €33,280
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 | €553,652 | €500,291 | -€53,361 | -9.6% |
| Fixed assets | 21/28 | €33,636 | €22,140 | -€11,496 | -34.2% |
| Tangible fixed assets | 22/27 | €33,636 | €22,140 | -€11,496 | -34.2% |
| Plant, machinery and equipment | 23 | €1,720 | €1,214 | -€506 | -29.4% |
| Furniture and vehicles | 24 | €31,916 | €20,926 | -€10,990 | -34.4% |
| Current assets | 29/58 | €520,016 | €478,151 | -€41,865 | -8.1% |
| Amounts receivable within one year | 40/41 | €424,678 | €296,514 | -€128,165 | -30.2% |
| Trade receivables | 40 | €377,557 | €236,813 | -€140,744 | -37.3% |
| Other amounts receivable | 41 | €47,122 | €59,701 | +€12,579 | +26.7% |
| Cash at bank and in hand | 54/58 | €92,383 | €173,724 | +€81,341 | +88.0% |
| Deferred charges and accrued income | 490/1 | €2,955 | €7,913 | +€4,958 | +167.8% |
| Total equity and liabilities | 10/49 | €553,652 | €500,291 | -€53,361 | -9.6% |
| Equity | 10/15 | €165,513 | €21,126 | -€144,387 | -87.2% |
| Contributions | 10/11 | - | €100 | +€100 | |
| Outside capital | 11 | - | €100 | +€100 | |
| Other | 1109/19 | - | €100 | +€100 | |
| Reserves | 13 | €82,710 | €20,360 | -€62,350 | -75.4% |
| Distributable reserves | 133 | €82,710 | €20,360 | -€62,350 | -75.4% |
| Profit (loss) carried forward | 14 | €82,803 | €666 | -€82,137 | -99.2% |
| Amounts payable | 17/49 | €388,139 | €479,165 | +€91,026 | +23.5% |
| Amounts payable within one year | 42/48 | €373,406 | €456,186 | +€82,780 | +22.2% |
| Trade debts | 44 | €22,851 | €63,003 | +€40,151 | +175.7% |
| Suppliers | 440/4 | €22,851 | €63,003 | +€40,151 | +175.7% |
| Taxes, remuneration and social security | 45 | €24,869 | €26,450 | +€1,581 | +6.4% |
| Taxes | 450/3 | €295 | €301 | +€6 | +2.0% |
| Remuneration and social security | 454/9 | €24,573 | €26,149 | +€1,575 | +6.4% |
| Other amounts payable | 47/48 | €325,686 | €366,733 | +€41,047 | +12.6% |
| Accrued charges and deferred income | 492/3 | €14,734 | €22,980 | +€8,246 | +56.0% |
| Remuneration, social security and pensions | 62 | €60,132 | €140,432 | +€80,300 | +133.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,077 | €11,496 | -€1,581 | -12.1% |
| Other operating charges | 640/8 | €387 | €567 | +€180 | +46.4% |
| Gross operating margin | 9900 | €336,830 | €301,479 | -€35,351 | -10.5% |
| Operating profit (loss) | 9901 | €263,234 | €148,985 | -€114,249 | -43.4% |
| Financial income | 75/76B | €15 | - | -€15 | |
| Recurring financial income | 75 | €15 | - | -€15 | |
| Financial charges | 65/66B | €704 | €841 | +€137 | +19.4% |
| Recurring financial charges | 65 | €704 | €841 | +€137 | +19.4% |
| Profit (loss) for the period before taxes | 9903 | €262,545 | €148,144 | -€114,401 | -43.6% |
| Income taxes | 67/77 | €61,819 | €33,280 | -€28,539 | -46.2% |
| Profit (loss) for the period | 9904 | €200,725 | €114,863 | -€85,862 | -42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €200,725 | €114,863 | -€85,862 | -42.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.