ICTIVA: 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.
What changed
ICTIVA
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€161,620
2024 · -€133,898-€27,722
Equity
€4.0m
2024 · €4.1m-€161,620
Cash
€2,513
2024 · €14,695-€12,181
Balance sheet total
€5.3m
2024 · €5.2m+€165,749
Largest movements
Assets
- Receivables within one year +€117,863
up €117,863 (+106%), from €111,271 to €229,133
of which Trade receivables: +€115,807
- Stocks and contracts +€100,301
up €100,301 (+7.8%), from €1.3m to €1.4m
Equity and liabilities
- Reserves -€161,000
down €161,000 (-4.0%), from €4.1m to €3.9m
- Short-term financial debts +€138,055
up €138,055 (+1,066%), from €12,948 to €151,002
- Other debts +€96,548
up €96,548 (+18.5%), from €523,052 to €619,600
- Trade debts +€89,419
up €89,419 (+142%), from €63,015 to €152,434
Income statement
- Financial charges -€45,732
down €45,732 (-45.6%), from €100,248 to €54,516
- Gross operating margin -€37,416
down €37,416 (-74.7%), from -€50,104 to -€87,521
- Financial income -€22,988
down €22,988 (-30.6%), from €75,002 to €52,014
- Staff costs +€8,914
new in 2025: €8,914
- Depreciation +€3,390
up €3,390 (+6.6%), from €51,266 to €54,656
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
-€133,898
Gross operating margin
-€37,416
Staff costs
-€8,914
Depreciation
-€3,390
Other operating charges
-€647
Financial income
-€22,988
Financial charges
+€45,732
Taxes
-€99
Result 2025
-€161,620
raises the resultlowers the result
Derived cash bridge
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
-€139,340
Investment
-€10,896
Financing
+€138,055
Cash 2024
€14,695
From operations (derived)
-€139,340
Net result for the year
-€161,620
Depreciation
+€54,656
Receivables after one year
+€9,241
Stocks and contracts
-€100,301
Receivables within one year
-€117,863
Deferred charges and accrued income
-€12,768
Trade debts
+€89,419
Tax, wage and social debts
+€5,086
Other debts
+€96,548
Accrued charges and deferred income
-€1,738
Investment (derived)
-€10,896
Investment in fixed assets (net)
-€48,142
Current investments
+€37,245
Financing
+€138,055
Short-term financial debts
+€138,055
Cash 2025
€2,513
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,184,139 | €5,349,888 | +€165,749 | +3.2% |
| Fixed assets | 21/28 | €2,581,146 | €2,574,632 | -€6,514 | -0.3% |
| Intangible fixed assets | 21 | €21,223 | €15,532 | -€5,691 | -26.8% |
| Tangible fixed assets | 22/27 | €2,559,924 | €2,559,101 | -€823 | 0.0% |
| Land and buildings | 22 | €2,160,251 | €2,121,420 | -€38,831 | -1.8% |
| Plant, machinery and equipment | 23 | €19,915 | €18,360 | -€1,555 | -7.8% |
| Furniture and vehicles | 24 | €7,208 | €3,910 | -€3,298 | -45.8% |
| Other tangible fixed assets | 26 | €313,530 | €313,530 | = | 0.0% |
| Assets under construction and advance payments | 27 | €59,020 | €101,880 | +€42,861 | +72.6% |
| Current assets | 29/58 | €2,602,992 | €2,775,256 | +€172,264 | +6.6% |
| Amounts receivable after more than one year | 29 | €653,142 | €643,901 | -€9,241 | -1.4% |
| Other amounts receivable | 291 | €653,142 | €643,901 | -€9,241 | -1.4% |
| Stocks and contracts in progress | 3 | €1,281,072 | €1,381,373 | +€100,301 | +7.8% |
| Stocks | 30/36 | €1,281,072 | €1,381,373 | +€100,301 | +7.8% |
| Amounts receivable within one year | 40/41 | €111,271 | €229,133 | +€117,863 | +106% |
| Trade receivables | 40 | €74,760 | €190,567 | +€115,807 | +155% |
| Other amounts receivable | 41 | €36,510 | €38,566 | +€2,056 | +5.6% |
| Current investments | 50/53 | €532,363 | €495,118 | -€37,245 | -7.0% |
| Cash at bank and in hand | 54/58 | €14,695 | €2,513 | -€12,181 | -82.9% |
| Deferred charges and accrued income | 490/1 | €10,450 | €23,218 | +€12,768 | +122% |
| Total equity and liabilities | 10/49 | €5,184,139 | €5,349,888 | +€165,749 | +3.2% |
| Equity | 10/15 | €4,139,078 | €3,977,459 | -€161,620 | -3.9% |
| Contributions | 10/11 | €85,000 | €85,000 | = | 0.0% |
| Reserves | 13 | €4,053,385 | €3,892,385 | -€161,000 | -4.0% |
| Distributable reserves | 133 | €4,053,385 | €3,892,385 | -€161,000 | -4.0% |
| Profit (loss) carried forward | 14 | €694 | €74 | -€620 | -89.3% |
| Amounts payable | 17/49 | €1,045,060 | €1,372,429 | +€327,369 | +31.3% |
| Amounts payable after more than one year | 17 | €400,000 | €400,000 | = | 0.0% |
| Financial debts | 170/4 | €400,000 | €400,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €615,122 | €944,229 | +€329,107 | +53.5% |
| Financial debts | 43 | €12,948 | €151,002 | +€138,055 | +1,066% |
| Credit institutions | 430/8 | €12,948 | €151,002 | +€138,055 | +1,066% |
| Trade debts | 44 | €63,015 | €152,434 | +€89,419 | +142% |
| Suppliers | 440/4 | €63,015 | €152,434 | +€89,419 | +142% |
| Taxes, remuneration and social security | 45 | €16,108 | €21,193 | +€5,086 | +31.6% |
| Taxes | 450/3 | €16,108 | €12,294 | -€3,814 | -23.7% |
| Remuneration and social security | 454/9 | - | €8,900 | +€8,900 | |
| Other amounts payable | 47/48 | €523,052 | €619,600 | +€96,548 | +18.5% |
| Accrued charges and deferred income | 492/3 | €29,938 | €28,200 | -€1,738 | -5.8% |
| Remuneration, social security and pensions | 62 | - | €8,914 | +€8,914 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,266 | €54,656 | +€3,390 | +6.6% |
| Other operating charges | 640/8 | €7,381 | €8,027 | +€647 | +8.8% |
| Gross operating margin | 9900 | -€50,104 | -€87,521 | -€37,416 | -74.7% |
| Operating profit (loss) | 9901 | -€108,751 | -€159,118 | -€50,367 | -46.3% |
| Financial income | 75/76B | €75,002 | €52,014 | -€22,988 | -30.6% |
| Recurring financial income | 75 | €75,002 | €52,014 | -€22,988 | -30.6% |
| Financial charges | 65/66B | €100,248 | €54,516 | -€45,732 | -45.6% |
| Recurring financial charges | 65 | €100,248 | €54,516 | -€45,732 | -45.6% |
| Profit (loss) for the period before taxes | 9903 | -€133,997 | -€161,620 | -€27,623 | -20.6% |
| Income taxes | 67/77 | -€99 | €0 | +€99 | |
| Profit (loss) for the period | 9904 | -€133,898 | -€161,620 | -€27,722 | -20.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€133,898 | -€161,620 | -€27,722 | -20.7% |
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 15 October 2026 via checked.be.