ICS DEVELOPMENT: 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.
ICS DEVELOPMENT
Largest movements
- Tangible fixed assets +€61,543
up €61,543 (+11.9%), from €517,730 to €579,273
of which Plant, machinery and equipment: +€57,717
- Receivables within one year +€19,638
up €19,638 (+34.3%), from €57,327 to €76,965
of which Trade receivables: +€10,154
- Cash -€14,879
down €14,879 (-63.8%), from €23,308 to €8,429
mainly Trade debts (-€317,148) and Investment in fixed assets (net) (-€140,007)
- Debts after one year +€346,845
new in 2025: €346,845
- Trade debts -€317,148
down €317,148 (-88.7%), from €357,670 to €40,522
- Current portion of long-term debt +€28,155
new in 2025: €28,155
- Other debts -€13,084
down €13,084 (-6.9%), from €188,814 to €175,730
- Reserves +€12,274
up €12,274 (+25.8%), from €47,500 to €59,774
- Depreciation +€46,523
up €46,523 (+144.8%), from €32,126 to €78,649
- Gross operating margin +€19,517
up €19,517 (+19.9%), from €97,984 to €117,501
- Financial charges +€16,694
up €16,694 (+205.1%), from €8,139 to €24,832
- Financial income -€1,495
down €1,495 (-98.5%), from €1,519 to €23
of which Non-recurring financial income: -€1,500
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 | €601,568 | €666,513 | +€64,944 | +10.8% |
| Fixed assets | 21/28 | €519,494 | €580,852 | +€61,358 | +11.8% |
| Intangible fixed assets | 21 | €1,765 | €1,580 | -€185 | -10.5% |
| Tangible fixed assets | 22/27 | €517,730 | €579,273 | +€61,543 | +11.9% |
| Plant, machinery and equipment | 23 | €295,208 | €352,925 | +€57,717 | +19.6% |
| Furniture and vehicles | 24 | €5,003 | €3,878 | -€1,125 | -22.5% |
| Other tangible fixed assets | 26 | €217,518 | €222,469 | +€4,951 | +2.3% |
| Current assets | 29/58 | €82,074 | €85,660 | +€3,586 | +4.4% |
| Amounts receivable within one year | 40/41 | €57,327 | €76,965 | +€19,638 | +34.3% |
| Trade receivables | 40 | €57,221 | €67,375 | +€10,154 | +17.7% |
| Other amounts receivable | 41 | €106 | €9,589 | +€9,484 | +8980.9% |
| Cash at bank and in hand | 54/58 | €23,308 | €8,429 | -€14,879 | -63.8% |
| Deferred charges and accrued income | 490/1 | €1,439 | €266 | -€1,172 | -81.5% |
| Total equity and liabilities | 10/49 | €601,568 | €666,513 | +€64,944 | +10.8% |
| Equity | 10/15 | €50,500 | €62,774 | +€12,274 | +24.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €47,500 | €59,774 | +€12,274 | +25.8% |
| Distributable reserves | 133 | €47,500 | €59,774 | +€12,274 | +25.8% |
| Amounts payable | 17/49 | €551,069 | €603,739 | +€52,670 | +9.6% |
| Amounts payable after more than one year | 17 | - | €346,845 | +€346,845 | |
| Financial debts | 170/4 | - | €346,845 | +€346,845 | |
| Amounts payable within one year | 42/48 | €551,069 | €252,932 | -€298,137 | -54.1% |
| Current portion of amounts payable after more than one year | 42 | - | €28,155 | +€28,155 | |
| Trade debts | 44 | €357,670 | €40,522 | -€317,148 | -88.7% |
| Suppliers | 440/4 | €357,670 | €40,522 | -€317,148 | -88.7% |
| Taxes, remuneration and social security | 45 | €4,585 | €8,525 | +€3,940 | +85.9% |
| Taxes | 450/3 | €4,585 | €8,525 | +€3,940 | +85.9% |
| Other amounts payable | 47/48 | €188,814 | €175,730 | -€13,084 | -6.9% |
| Accrued charges and deferred income | 492/3 | - | €3,962 | +€3,962 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,126 | €78,649 | +€46,523 | +144.8% |
| Other operating charges | 640/8 | €1,722 | €1,193 | -€529 | -30.7% |
| Gross operating margin | 9900 | €97,984 | €117,501 | +€19,517 | +19.9% |
| Operating profit (loss) | 9901 | €64,136 | €37,659 | -€26,477 | -41.3% |
| Financial income | 75/76B | €1,519 | €23 | -€1,495 | -98.5% |
| Recurring financial income | 75 | €19 | €23 | +€5 | +26.3% |
| Non-recurring financial income | 76B | €1,500 | - | -€1,500 | |
| Financial charges | 65/66B | €8,139 | €24,832 | +€16,694 | +205.1% |
| Recurring financial charges | 65 | €8,139 | €24,832 | +€16,694 | +205.1% |
| Profit (loss) for the period before taxes | 9903 | €57,516 | €12,850 | -€44,666 | -77.7% |
| Income taxes | 67/77 | €682 | €576 | -€106 | -15.5% |
| Profit (loss) for the period | 9904 | €56,834 | €12,274 | -€44,560 | -78.4% |
| Profit (loss) for the period to be appropriated | 9905 | €56,834 | €12,274 | -€44,560 | -78.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.