IKARO: 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.
IKARO
Largest movements
- Receivables within one year +€99,869
up €99,869 (+131.7%), from €75,847 to €175,716
of which Trade receivables: +€97,636
- Cash +€71,314
up €71,314 (+22.5%), from €316,841 to €388,155
mainly Other debts (+€392,439) and Net result for the year (+€283,238)
- Tangible fixed assets -€7,068
down €7,068 (-9.1%), from €77,758 to €70,690
of which Furniture and vehicles: -€17,657
- Other debts +€392,439
up €392,439 (+880.1%), from €44,589 to €437,028
- Profit (loss) carried forward -€196,762
down €196,762 (-82.7%), from €237,862 to €41,100
- Trade debts -€27,892
down €27,892 (-80.6%), from €34,595 to €6,702
- Debts after one year -€16,877
down €16,877 (-32.1%), from €52,642 to €35,764
- Tax, wage and social debts +€12,671
up €12,671 (+29.5%), from €42,923 to €55,593
of which Taxes: +€7,161
- Gross operating margin +€133,914
up €133,914 (+47.9%), from €279,488 to €413,402
- Taxes +€29,887
up €29,887 (+49.2%), from €60,716 to €90,603
- Financial charges +€16,030
up €16,030 (+526.0%), from €3,048 to €19,077
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 | €475,291 | €639,526 | +€164,235 | +34.6% |
| Fixed assets | 21/28 | €80,258 | €73,190 | -€7,068 | -8.8% |
| Tangible fixed assets | 22/27 | €77,758 | €70,690 | -€7,068 | -9.1% |
| Plant, machinery and equipment | 23 | €3,944 | €3,184 | -€760 | -19.3% |
| Furniture and vehicles | 24 | €73,814 | €56,157 | -€17,657 | -23.9% |
| Other tangible fixed assets | 26 | - | €11,349 | +€11,349 | |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €395,033 | €566,336 | +€171,303 | +43.4% |
| Amounts receivable within one year | 40/41 | €75,847 | €175,716 | +€99,869 | +131.7% |
| Trade receivables | 40 | €30,580 | €128,216 | +€97,636 | +319.3% |
| Other amounts receivable | 41 | €45,267 | €47,500 | +€2,233 | +4.9% |
| Cash at bank and in hand | 54/58 | €316,841 | €388,155 | +€71,314 | +22.5% |
| Deferred charges and accrued income | 490/1 | €2,345 | €2,465 | +€120 | +5.1% |
| Total equity and liabilities | 10/49 | €475,291 | €639,526 | +€164,235 | +34.6% |
| Equity | 10/15 | €284,302 | €87,540 | -€196,762 | -69.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €36,440 | €36,440 | = | 0.0% |
| Distributable reserves | 133 | €36,440 | €36,440 | = | 0.0% |
| Profit (loss) carried forward | 14 | €237,862 | €41,100 | -€196,762 | -82.7% |
| Amounts payable | 17/49 | €190,989 | €551,986 | +€360,997 | +189.0% |
| Amounts payable after more than one year | 17 | €52,642 | €35,764 | -€16,877 | -32.1% |
| Financial debts | 170/4 | €52,642 | €35,764 | -€16,877 | -32.1% |
| Amounts payable within one year | 42/48 | €138,347 | €516,201 | +€377,854 | +273.1% |
| Current portion of amounts payable after more than one year | 42 | €16,241 | €16,877 | +€636 | +3.9% |
| Trade debts | 44 | €34,595 | €6,702 | -€27,892 | -80.6% |
| Suppliers | 440/4 | €34,595 | €6,702 | -€27,892 | -80.6% |
| Taxes, remuneration and social security | 45 | €42,923 | €55,593 | +€12,671 | +29.5% |
| Taxes | 450/3 | €42,923 | €50,084 | +€7,161 | +16.7% |
| Remuneration and social security | 454/9 | - | €5,510 | +€5,510 | |
| Other amounts payable | 47/48 | €44,589 | €437,028 | +€392,439 | +880.1% |
| Accrued charges and deferred income | 492/3 | - | €20 | +€20 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,677 | €20,382 | +€706 | +3.6% |
| Other operating charges | 640/8 | €159 | - | -€159 | |
| Non-recurring operating charges | 66A | - | €101 | +€101 | |
| Gross operating margin | 9900 | €279,488 | €413,402 | +€133,914 | +47.9% |
| Operating profit (loss) | 9901 | €259,652 | €392,919 | +€133,266 | +51.3% |
| Financial charges | 65/66B | €3,048 | €19,077 | +€16,030 | +526.0% |
| Recurring financial charges | 65 | €3,048 | €19,077 | +€16,030 | +526.0% |
| Profit (loss) for the period before taxes | 9903 | €256,605 | €373,841 | +€117,237 | +45.7% |
| Income taxes | 67/77 | €60,716 | €90,603 | +€29,887 | +49.2% |
| Profit (loss) for the period | 9904 | €195,889 | €283,238 | +€87,350 | +44.6% |
| Profit (loss) for the period to be appropriated | 9905 | €195,889 | €283,238 | +€87,350 | +44.6% |
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 12 October 2026 via checked.be.