ICX: 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.
ICX
Largest movements
- Tangible fixed assets -€57,583
down €57,583 (-4.0%), from €1.4m to €1.4m
of which Land and buildings: -€55,538
- Cash -€26,691
down €26,691 (-5.7%), from €467,333 to €440,642
mainly Trade debts (-€42,805) and Debts after one year (-€33,561)
- Trade debts -€42,805
down €42,805 (-87.8%), from €48,773 to €5,968
- Debts after one year -€33,561
down €33,561 (-8.3%), from €403,909 to €370,349
- Gross operating margin -€464,591
down €464,591 (-84.5%), from €549,659 to €85,068
- Taxes -€157,197
down €157,197 (-95.1%), from €165,313 to €8,116
- Depreciation +€7,302
up €7,302 (+10.8%), from €67,468 to €74,770
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 | €1,927,809 | €1,845,468 | -€82,341 | -4.3% |
| Fixed assets | 21/28 | €1,446,825 | €1,389,242 | -€57,583 | -4.0% |
| Tangible fixed assets | 22/27 | €1,446,825 | €1,389,242 | -€57,583 | -4.0% |
| Land and buildings | 22 | €1,442,957 | €1,387,419 | -€55,538 | -3.8% |
| Plant, machinery and equipment | 23 | €1,277 | €633 | -€644 | -50.5% |
| Furniture and vehicles | 24 | €2,591 | €1,190 | -€1,400 | -54.1% |
| Current assets | 29/58 | €480,985 | €456,226 | -€24,758 | -5.1% |
| Amounts receivable within one year | 40/41 | €12,278 | €13,410 | +€1,132 | +9.2% |
| Trade receivables | 40 | €10,351 | €8,429 | -€1,922 | -18.6% |
| Other amounts receivable | 41 | €1,927 | €4,981 | +€3,054 | +158.5% |
| Cash at bank and in hand | 54/58 | €467,333 | €440,642 | -€26,691 | -5.7% |
| Deferred charges and accrued income | 490/1 | €1,373 | €2,174 | +€801 | +58.4% |
| Total equity and liabilities | 10/49 | €1,927,809 | €1,845,468 | -€82,341 | -4.3% |
| Equity | 10/15 | €1,044,879 | €1,045,007 | +€128 | 0.0% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €754,442 | €754,570 | +€128 | 0.0% |
| Non-distributable reserves | 130/1 | €31,500 | €31,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €31,500 | €31,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €322,963 | €305,698 | -€17,265 | -5.3% |
| Distributable reserves | 133 | €399,980 | €417,372 | +€17,392 | +4.3% |
| Profit (loss) carried forward | 14 | €90,436 | €90,436 | = | 0.0% |
| Provisions and deferred taxes | 16 | €162,149 | €153,951 | -€8,198 | -5.1% |
| Deferred taxes | 168 | €162,149 | €153,951 | -€8,198 | -5.1% |
| Amounts payable | 17/49 | €720,781 | €646,510 | -€74,271 | -10.3% |
| Amounts payable after more than one year | 17 | €403,909 | €370,349 | -€33,561 | -8.3% |
| Financial debts | 170/4 | €403,909 | €370,349 | -€33,561 | -8.3% |
| Amounts payable within one year | 42/48 | €314,448 | €272,518 | -€41,929 | -13.3% |
| Current portion of amounts payable after more than one year | 42 | €35,366 | €36,060 | +€694 | +2.0% |
| Trade debts | 44 | €48,773 | €5,968 | -€42,805 | -87.8% |
| Suppliers | 440/4 | €48,773 | €5,968 | -€42,805 | -87.8% |
| Taxes, remuneration and social security | 45 | €153,577 | €153,577 | = | 0.0% |
| Taxes | 450/3 | €153,577 | €153,577 | = | 0.0% |
| Other amounts payable | 47/48 | €76,731 | €76,913 | +€182 | +0.2% |
| Accrued charges and deferred income | 492/3 | €2,424 | €3,643 | +€1,219 | +50.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,468 | €74,770 | +€7,302 | +10.8% |
| Other operating charges | 640/8 | €11,588 | €7,575 | -€4,013 | -34.6% |
| Gross operating margin | 9900 | €549,659 | €85,068 | -€464,591 | -84.5% |
| Operating profit (loss) | 9901 | €470,603 | €2,723 | -€467,880 | -99.4% |
| Financial income | 75/76B | €5,813 | €7,871 | +€2,057 | +35.4% |
| Recurring financial income | 75 | €5,813 | €7,871 | +€2,057 | +35.4% |
| Financial charges | 65/66B | €10,347 | €10,548 | +€201 | +1.9% |
| Recurring financial charges | 65 | €10,347 | €10,548 | +€201 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | €466,069 | €46 | -€466,023 | -100.0% |
| Transfer from deferred taxes | 780 | €8,198 | €8,198 | = | 0.0% |
| Income taxes | 67/77 | €165,313 | €8,116 | -€157,197 | -95.1% |
| Profit (loss) for the period | 9904 | €308,954 | €128 | -€308,826 | -100.0% |
| Transfer from tax-exempt reserves | 789 | €17,265 | €17,265 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €326,218 | €17,392 | -€308,826 | -94.7% |
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 10 October 2026 via checked.be.