Innovative Coating Technologies: 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
Innovative Coating Technologies
NACE 20.590, Manufacture of chemicals and chemical products
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€22,032
2024 · €38,797-€16,765
Equity
€714,938
2024 · €692,907+€22,032
Cash
€1,492
2024 · €105,165-€103,673
Balance sheet total
€757,292
2024 · €862,568-€105,276
Largest movements
Assets
- Cash -€103,673
down €103,673 (-98.6%), from €105,165 to €1,492
mainly Other debts (-€100,000) and Trade debts (-€20,551)
Equity and liabilities
- Other debts -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Profit (loss) carried forward +€22,032
up €22,032 (+16.2%), from -€136,272 to -€114,240
- Trade debts -€20,551
down €20,551 (-37.8%), from €54,374 to €33,823
Income statement
- Gross operating margin -€10,379
down €10,379 (-11.0%), from €94,204 to €83,825
- Financial charges -€5,660
down €5,660 (-75.3%), from €7,518 to €1,858
- Staff costs +€5,483
up €5,483 (+12.8%), from €42,690 to €48,172
- Depreciation +€2,982
up €2,982 (+66.1%), from €4,515 to €7,497
- Financial income -€2,736
down €2,736 (-81.9%), from €3,342 to €606
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
€38,797
Gross operating margin
-€10,379
Staff costs
-€5,483
Depreciation
-€2,982
Write-downs
-€730
Other operating charges
+€67
Financial income
-€2,736
Financial charges
+€5,660
Taxes
-€182
Result 2025
€22,032
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.
From operations
-€100,744
Investment
-€0
Financing
-€2,929
Cash 2024
€105,165
From operations (derived)
-€100,744
Net result for the year
+€22,032
Depreciation
+€7,497
Smaller working-capital items
-€111
Receivables within one year
-€5,783
Trade debts
-€20,551
Tax, wage and social debts
-€1,091
Other debts
-€100,000
Accrued charges and deferred income
-€2,736
Investment (derived)
-€0
Investment in fixed assets (net)
-€0
Financing
-€2,929
Debts after one year
-€679
Current portion of long-term debt
-€2,250
Cash 2025
€1,492
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €862,568 | €757,292 | -€105,276 | -12.2% |
| Fixed assets | 21/28 | €31,838 | €24,341 | -€7,497 | -23.5% |
| Tangible fixed assets | 22/27 | €31,838 | €24,341 | -€7,497 | -23.5% |
| Land and buildings | 22 | - | €23,376 | +€23,376 | |
| Plant, machinery and equipment | 23 | €31,214 | €549 | -€30,665 | -98.2% |
| Furniture and vehicles | 24 | €624 | €416 | -€208 | -33.3% |
| Current assets | 29/58 | €830,730 | €732,951 | -€97,779 | -11.8% |
| Stocks and contracts in progress | 3 | €35,260 | €35,363 | +€102 | +0.3% |
| Stocks | 30/36 | €35,260 | €35,363 | +€102 | +0.3% |
| Amounts receivable within one year | 40/41 | €688,316 | €694,099 | +€5,783 | +0.8% |
| Trade receivables | 40 | €29,123 | €31,130 | +€2,006 | +6.9% |
| Other amounts receivable | 41 | €659,192 | €662,969 | +€3,777 | +0.6% |
| Cash at bank and in hand | 54/58 | €105,165 | €1,492 | -€103,673 | -98.6% |
| Deferred charges and accrued income | 490/1 | €1,989 | €1,998 | +€8 | +0.4% |
| Total equity and liabilities | 10/49 | €862,568 | €757,292 | -€105,276 | -12.2% |
| Equity | 10/15 | €692,907 | €714,938 | +€22,032 | +3.2% |
| Contributions | 10/11 | €818,049 | €818,049 | = | 0.0% |
| Capital | 10 | €818,049 | €818,049 | = | 0.0% |
| Issued capital | 100 | €818,049 | €818,049 | = | 0.0% |
| Reserves | 13 | €11,130 | €11,130 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,130 | €11,130 | = | 0.0% |
| Legal reserve | 130 | €11,130 | €11,130 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€136,272 | -€114,240 | +€22,032 | +16.2% |
| Amounts payable | 17/49 | €169,661 | €42,354 | -€127,307 | -75.0% |
| Amounts payable after more than one year | 17 | €2,294 | €1,615 | -€679 | -29.6% |
| Financial debts | 170/4 | €2,294 | €1,615 | -€679 | -29.6% |
| Amounts payable within one year | 42/48 | €164,243 | €40,350 | -€123,892 | -75.4% |
| Current portion of amounts payable after more than one year | 42 | €5,309 | €3,059 | -€2,250 | -42.4% |
| Trade debts | 44 | €54,374 | €33,823 | -€20,551 | -37.8% |
| Suppliers | 440/4 | €54,374 | €33,823 | -€20,551 | -37.8% |
| Taxes, remuneration and social security | 45 | €4,560 | €3,469 | -€1,091 | -23.9% |
| Remuneration and social security | 454/9 | €4,560 | €3,469 | -€1,091 | -23.9% |
| Other amounts payable | 47/48 | €100,000 | €0 | -€100,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €3,125 | €388 | -€2,736 | -87.6% |
| Remuneration, social security and pensions | 62 | €42,690 | €48,172 | +€5,483 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,515 | €7,497 | +€2,982 | +66.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €730 | +€730 | |
| Other operating charges | 640/8 | €4,027 | €3,960 | -€67 | -1.7% |
| Gross operating margin | 9900 | €94,204 | €83,825 | -€10,379 | -11.0% |
| Operating profit (loss) | 9901 | €42,973 | €23,466 | -€19,507 | -45.4% |
| Financial income | 75/76B | €3,342 | €606 | -€2,736 | -81.9% |
| Recurring financial income | 75 | €3,342 | €606 | -€2,736 | -81.9% |
| Financial charges | 65/66B | €7,518 | €1,858 | -€5,660 | -75.3% |
| Recurring financial charges | 65 | €7,518 | €1,858 | -€5,660 | -75.3% |
| Profit (loss) for the period before taxes | 9903 | €38,797 | €22,213 | -€16,583 | -42.7% |
| Income taxes | 67/77 | - | €182 | +€182 | |
| Profit (loss) for the period | 9904 | €38,797 | €22,032 | -€16,765 | -43.2% |
| Profit (loss) for the period to be appropriated | 9905 | €38,797 | €22,032 | -€16,765 | -43.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.