ICTAROS: 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.
ICTAROS
Largest movements
- Current investments +€330,747
up €330,747 (+109.9%), from €300,958 to €631,705
- Cash -€156,858
down €156,858 (-22.2%), from €706,370 to €549,512
mainly Current investments (-€330,747) and Contributions, distributions and other (-€122,000)
- Receivables within one year -€24,202
down €24,202 (-50.1%), from €48,355 to €24,153
of which Trade receivables: -€19,072
- Tangible fixed assets -€13,615
down €13,615 (-29.0%), from €46,983 to €33,368
of which Furniture and vehicles: -€15,339
- Other debts +€166,765
up €166,765 (+46.2%), from €360,784 to €527,549
- Accrued charges and deferred income -€25,392
no longer reported in 2025 (was €25,392)
- Reserves -€24,251
down €24,251 (-3.5%), from €693,640 to €669,389
- Tax, wage and social debts +€17,488
up €17,488 (+112.4%), from €15,561 to €33,049
of which Taxes: +€17,470
- Gross operating margin +€35,601
up €35,601 (+24.0%), from €148,610 to €184,211
- Financial charges +€11,279
up €11,279 (+45.8%), from €24,604 to €35,883
- Taxes +€7,519
up €7,519 (+23.9%), from €31,513 to €39,032
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 | €1,109,632 | €1,242,656 | +€133,024 | +12.0% |
| Fixed assets | 21/28 | €46,983 | €33,368 | -€13,615 | -29.0% |
| Tangible fixed assets | 22/27 | €46,983 | €33,368 | -€13,615 | -29.0% |
| Plant, machinery and equipment | 23 | - | €1,724 | +€1,724 | |
| Furniture and vehicles | 24 | €46,983 | €31,644 | -€15,339 | -32.6% |
| Current assets | 29/58 | €1,062,649 | €1,209,288 | +€146,639 | +13.8% |
| Amounts receivable within one year | 40/41 | €48,355 | €24,153 | -€24,202 | -50.1% |
| Trade receivables | 40 | €43,225 | €24,153 | -€19,072 | -44.1% |
| Other amounts receivable | 41 | €5,130 | - | -€5,130 | |
| Current investments | 50/53 | €300,958 | €631,705 | +€330,747 | +109.9% |
| Cash at bank and in hand | 54/58 | €706,370 | €549,512 | -€156,858 | -22.2% |
| Deferred charges and accrued income | 490/1 | €6,965 | €3,917 | -€3,048 | -43.8% |
| Total equity and liabilities | 10/49 | €1,109,632 | €1,242,656 | +€133,024 | +12.0% |
| Equity | 10/15 | €706,040 | €681,789 | -€24,251 | -3.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €693,640 | €669,389 | -€24,251 | -3.5% |
| Distributable reserves | 133 | €693,640 | €669,389 | -€24,251 | -3.5% |
| Amounts payable | 17/49 | €403,592 | €560,867 | +€157,275 | +39.0% |
| Amounts payable within one year | 42/48 | €378,200 | €560,867 | +€182,667 | +48.3% |
| Financial debts | 43 | - | €65 | +€65 | |
| Credit institutions | 430/8 | - | €65 | +€65 | |
| Trade debts | 44 | €1,854 | €203 | -€1,651 | -89.1% |
| Suppliers | 440/4 | €1,854 | €203 | -€1,651 | -89.1% |
| Taxes, remuneration and social security | 45 | €15,561 | €33,049 | +€17,488 | +112.4% |
| Taxes | 450/3 | €12,381 | €29,851 | +€17,470 | +141.1% |
| Remuneration and social security | 454/9 | €3,181 | €3,199 | +€18 | +0.6% |
| Other amounts payable | 47/48 | €360,784 | €527,549 | +€166,765 | +46.2% |
| Accrued charges and deferred income | 492/3 | €25,392 | - | -€25,392 | |
| Non-recurring operating income | 76A | - | €199 | +€199 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,679 | €15,372 | -€1,306 | -7.8% |
| Other operating charges | 640/8 | €2,440 | €1,757 | -€684 | -28.0% |
| Non-recurring operating charges | 66A | €601 | - | -€601 | |
| Gross operating margin | 9900 | €148,610 | €184,211 | +€35,601 | +24.0% |
| Operating profit (loss) | 9901 | €128,890 | €167,082 | +€38,192 | +29.6% |
| Financial income | 75/76B | €7,406 | €5,581 | -€1,826 | -24.6% |
| Recurring financial income | 75 | €7,406 | €5,581 | -€1,826 | -24.6% |
| Financial charges | 65/66B | €24,604 | €35,883 | +€11,279 | +45.8% |
| Recurring financial charges | 65 | €24,604 | €35,883 | +€11,279 | +45.8% |
| Profit (loss) for the period before taxes | 9903 | €111,693 | €136,780 | +€25,088 | +22.5% |
| Income taxes | 67/77 | €31,513 | €39,032 | +€7,519 | +23.9% |
| Profit (loss) for the period | 9904 | €80,180 | €97,749 | +€17,569 | +21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €80,180 | €97,749 | +€17,569 | +21.9% |
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 5 October 2026 via checked.be.