The following comments by the Board of Directors on the annual financial statements are intended to give a true and fair view of the situation of the association and its business.
Balance sheet
Assets
Total assets amounted to €18,230,326, compared with €28,217,393 the previous year. This was mainly due to a decrease in current assets: lower inventories and trade receivables.
The depreciation of fixed assets continues and, as in 2022, is steadily declining. This decline is due to the shift in investment to service mode in recent years and the move to the new building (Brucity).
Liabilities
Total liabilities amounted to €18,230,326, compared with €28,217,393 the previous year. 2023 closed with a profit and, consequently, an increase in the association's equity.
Income statement
The year closed with a profit of €198,804, compared with a profit of €253,318 the previous year.
The balance sheet structure is therefore fairly healthy, with shareholders' equity and long-term debt far exceeding fixed assets. Shareholders' equity and long-term debt far exceed fixed assets. Current liabilities are covered by current assets.
Turnover amounted to €62,898,662, compared with €57,853,240 the previous year. This reflects the increase in the budget granted by the City of Brussels. Budget required to continue projects linked to the digital transition.
2023 balance sheet after appropriation in euros
Income statement in euros
Business trends and results
i-CITY's activities are constantly expanding to meet the growing need for IT solutions for the City of Brussels and other customers.
In 2023, activities focused primarily on implementing all the functionalities needed to support the City of Brussels in its digital transition. The aim is to implement technological improvements in citizen service and administrative operations.
