I.L.M.: 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.
I.L.M.
Largest movements
- Cash -€306,366
down €306,366 (-81.1%), from €377,935 to €71,569
mainly Current investments (-€300,000) and Debts after one year (-€47,635)
- Current investments +€300,000
new in 2025: €300,000
- Debts after one year -€47,635
down €47,635 (-8.5%), from €559,388 to €511,753
- Profit (loss) carried forward +€24,274
up €24,274 (+40.9%), from -€59,317 to -€35,043
- Gross operating margin -€117,368
down €117,368 (-50.7%), from €231,530 to €114,162
- Depreciation +€5,481
up €5,481 (+10.4%), from €52,670 to €58,151
- Financial income +€3,837
new in 2025: €3,837
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 | €1,720,120 | €1,694,066 | -€26,053 | -1.5% |
| Fixed assets | 21/28 | €1,309,994 | €1,296,231 | -€13,763 | -1.1% |
| Tangible fixed assets | 22/27 | €1,309,994 | €1,296,231 | -€13,763 | -1.1% |
| Land and buildings | 22 | €1,309,994 | €1,296,231 | -€13,763 | -1.1% |
| Current assets | 29/58 | €410,126 | €397,835 | -€12,291 | -3.0% |
| Amounts receivable within one year | 40/41 | €9,552 | €4,809 | -€4,743 | -49.7% |
| Trade receivables | 40 | €7,212 | €325 | -€6,887 | -95.5% |
| Other amounts receivable | 41 | €2,340 | €4,484 | +€2,144 | +91.6% |
| Current investments | 50/53 | - | €300,000 | +€300,000 | |
| Cash at bank and in hand | 54/58 | €377,935 | €71,569 | -€306,366 | -81.1% |
| Deferred charges and accrued income | 490/1 | €22,639 | €21,457 | -€1,182 | -5.2% |
| Total equity and liabilities | 10/49 | €1,720,120 | €1,694,066 | -€26,053 | -1.5% |
| Equity | 10/15 | €897,835 | €922,108 | +€24,274 | +2.7% |
| Contributions | 10/11 | €865,989 | €865,989 | = | 0.0% |
| Capital | 10 | €865,989 | €865,989 | = | 0.0% |
| Issued capital | 100 | €865,989 | €865,989 | = | 0.0% |
| Reserves | 13 | €91,162 | €91,162 | = | 0.0% |
| Non-distributable reserves | 130/1 | €86,599 | €86,599 | = | 0.0% |
| Legal reserve | 130 | €86,599 | €86,599 | = | 0.0% |
| Distributable reserves | 133 | €4,563 | €4,563 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,317 | -€35,043 | +€24,274 | +40.9% |
| Amounts payable | 17/49 | €822,285 | €771,958 | -€50,327 | -6.1% |
| Amounts payable after more than one year | 17 | €559,388 | €511,753 | -€47,635 | -8.5% |
| Financial debts | 170/4 | €559,388 | €511,753 | -€47,635 | -8.5% |
| Amounts payable within one year | 42/48 | €245,965 | €238,906 | -€7,059 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €47,097 | €47,635 | +€538 | +1.1% |
| Trade debts | 44 | €9,447 | €1,874 | -€7,573 | -80.2% |
| Suppliers | 440/4 | €9,447 | €1,874 | -€7,573 | -80.2% |
| Other amounts payable | 47/48 | €189,421 | €189,397 | -€24 | 0.0% |
| Accrued charges and deferred income | 492/3 | €16,932 | €21,299 | +€4,367 | +25.8% |
| Non-recurring operating income | 76A | €135,075 | €0 | -€135,075 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,670 | €58,151 | +€5,481 | +10.4% |
| Other operating charges | 640/8 | €15,152 | €14,585 | -€567 | -3.7% |
| Gross operating margin | 9900 | €231,530 | €114,162 | -€117,368 | -50.7% |
| Operating profit (loss) | 9901 | €163,708 | €41,426 | -€122,282 | -74.7% |
| Financial income | 75/76B | - | €3,837 | +€3,837 | |
| Recurring financial income | 75 | - | €3,837 | +€3,837 | |
| Financial charges | 65/66B | €22,010 | €20,990 | -€1,020 | -4.6% |
| Recurring financial charges | 65 | €22,010 | €20,990 | -€1,020 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €141,699 | €24,274 | -€117,425 | -82.9% |
| Profit (loss) for the period | 9904 | €141,699 | €24,274 | -€117,425 | -82.9% |
| Profit (loss) for the period to be appropriated | 9905 | €141,699 | €24,274 | -€117,425 | -82.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.