Dr. ILSE JOYE: 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.
Dr. ILSE JOYE
Largest movements
- Cash +€24,893
up €24,893 (+47.6%), from €52,269 to €77,162
mainly Net result for the year (+€24,345) and Depreciation (+€7,348)
- Tangible fixed assets -€7,348
down €7,348 (-9.3%), from €78,995 to €71,647
of which Land and buildings: -€7,348
- Reserves +€24,345
up €24,345 (+16.8%), from €144,698 to €169,044
- Tax, wage and social debts -€6,302
down €6,302 (-42.3%), from €14,899 to €8,596
of which Taxes: -€5,852
- Gross operating margin -€929
down €929 (-1.8%), from €51,709 to €50,780
- Financial charges -€754
down €754 (-11.4%), from €6,637 to €5,884
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €345,264 | €364,536 | +€19,272 | +5.6% |
| Fixed assets | 21/28 | €232,995 | €225,647 | -€7,348 | -3.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €78,995 | €71,647 | -€7,348 | -9.3% |
| Land and buildings | 22 | €78,995 | €71,647 | -€7,348 | -9.3% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €154,000 | €154,000 | = | 0.0% |
| Current assets | 29/58 | €112,269 | €138,890 | +€26,621 | +23.7% |
| Amounts receivable within one year | 40/41 | €60,000 | €61,727 | +€1,727 | +2.9% |
| Trade receivables | 40 | €60,000 | €60,000 | = | 0.0% |
| Other amounts receivable | 41 | - | €1,727 | +€1,727 | |
| Cash at bank and in hand | 54/58 | €52,269 | €77,162 | +€24,893 | +47.6% |
| Total equity and liabilities | 10/49 | €345,264 | €364,536 | +€19,272 | +5.6% |
| Equity | 10/15 | €229,698 | €254,044 | +€24,345 | +10.6% |
| Contributions | 10/11 | €85,000 | €85,000 | = | 0.0% |
| Reserves | 13 | €144,698 | €169,044 | +€24,345 | +16.8% |
| Distributable reserves | 133 | €144,698 | €169,044 | +€24,345 | +16.8% |
| Amounts payable | 17/49 | €115,566 | €110,493 | -€5,073 | -4.4% |
| Amounts payable after more than one year | 17 | €82,000 | €82,000 | = | 0.0% |
| Financial debts | 170/4 | €82,000 | €82,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €28,962 | €23,779 | -€5,183 | -17.9% |
| Trade debts | 44 | €691 | €208 | -€483 | -69.9% |
| Suppliers | 440/4 | €691 | €208 | -€483 | -69.9% |
| Taxes, remuneration and social security | 45 | €14,899 | €8,596 | -€6,302 | -42.3% |
| Taxes | 450/3 | €13,999 | €8,146 | -€5,852 | -41.8% |
| Remuneration and social security | 454/9 | €900 | €450 | -€450 | -50.0% |
| Other amounts payable | 47/48 | €13,372 | €14,974 | +€1,602 | +12.0% |
| Accrued charges and deferred income | 492/3 | €4,603 | €4,714 | +€110 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,348 | €7,348 | = | 0.0% |
| Other operating charges | 640/8 | €1,321 | €1,479 | +€158 | +11.9% |
| Gross operating margin | 9900 | €51,709 | €50,780 | -€929 | -1.8% |
| Operating profit (loss) | 9901 | €43,040 | €41,952 | -€1,087 | -2.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €6,637 | €5,884 | -€754 | -11.4% |
| Recurring financial charges | 65 | €6,637 | €5,884 | -€754 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €36,402 | €36,069 | -€334 | -0.9% |
| Income taxes | 67/77 | €11,931 | €11,724 | -€208 | -1.7% |
| Profit (loss) for the period | 9904 | €24,471 | €24,345 | -€126 | -0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,471 | €24,345 | -€126 | -0.5% |
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 20 October 2026 via checked.be.