Ihlumelo: what changed
Two fiscal 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.
Ihlumelo
Largest movements
- Cash -€121,379
down €121,379 (-90.0%), from €134,867 to €13,488
mainly Contributions, distributions and other (-€140,000) and Current investments (-€30,000)
- Current investments +€30,000
new in 2025: €30,000
- Tangible fixed assets -€3,454
down €3,454 (-41.0%), from €8,428 to €4,974
of which Furniture and vehicles: -€3,897
- Reserves -€94,800
down €94,800 (-67.6%), from €140,300 to €45,500
- Accrued charges and deferred income -€1,760
down €1,760 (-100.0%), from €1,760 to €0
- Gross operating margin +€20,549
up €20,549 (+51.5%), from €39,915 to €60,464
- Taxes +€4,751
up €4,751 (+69.9%), from €6,792 to €11,543
- Financial income +€646
up €646 (+2151800.0%), from €0 to €646
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 | €149,342 | €54,596 | -€94,746 | -63.4% |
| Fixed assets | 21/28 | €8,428 | €4,974 | -€3,454 | -41.0% |
| Tangible fixed assets | 22/27 | €8,428 | €4,974 | -€3,454 | -41.0% |
| Plant, machinery and equipment | 23 | €2,568 | €3,010 | +€442 | +17.2% |
| Furniture and vehicles | 24 | €5,860 | €1,963 | -€3,897 | -66.5% |
| Current assets | 29/58 | €140,914 | €49,622 | -€91,292 | -64.8% |
| Amounts receivable within one year | 40/41 | €6,047 | €5,950 | -€97 | -1.6% |
| Other amounts receivable | 41 | €6,047 | €5,950 | -€97 | -1.6% |
| Current investments | 50/53 | - | €30,000 | +€30,000 | |
| Cash at bank and in hand | 54/58 | €134,867 | €13,488 | -€121,379 | -90.0% |
| Deferred charges and accrued income | 490/1 | - | €183 | +€183 | |
| Total equity and liabilities | 10/49 | €149,342 | €54,596 | -€94,746 | -63.4% |
| Equity | 10/15 | €145,328 | €50,578 | -€94,750 | -65.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €140,300 | €45,500 | -€94,800 | -67.6% |
| Distributable reserves | 133 | €140,300 | €45,500 | -€94,800 | -67.6% |
| Profit (loss) carried forward | 14 | €28 | €78 | +€50 | +175.1% |
| Amounts payable | 17/49 | €4,013 | €4,017 | +€4 | +0.1% |
| Amounts payable within one year | 42/48 | €2,253 | €4,017 | +€1,764 | +78.3% |
| Trade debts | 44 | - | €117 | +€117 | |
| Suppliers | 440/4 | - | €117 | +€117 | |
| Taxes, remuneration and social security | 45 | €2,253 | €3,685 | +€1,432 | +63.5% |
| Taxes | 450/3 | €2,253 | €3,685 | +€1,432 | +63.5% |
| Other amounts payable | 47/48 | - | €216 | +€216 | |
| Accrued charges and deferred income | 492/3 | €1,760 | €0 | -€1,760 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,613 | €3,454 | -€158 | -4.4% |
| Other operating charges | 640/8 | €1,050 | €742 | -€308 | -29.4% |
| Gross operating margin | 9900 | €39,915 | €60,464 | +€20,549 | +51.5% |
| Operating profit (loss) | 9901 | €35,252 | €56,268 | +€21,016 | +59.6% |
| Financial income | 75/76B | €0 | €646 | +€646 | +2151800.0% |
| Recurring financial income | 75 | €0 | €646 | +€646 | +2151800.0% |
| Financial charges | 65/66B | €74 | €120 | +€47 | +63.3% |
| Recurring financial charges | 65 | €74 | €120 | +€47 | +63.3% |
| Profit (loss) for the period before taxes | 9903 | €35,179 | €56,793 | +€21,615 | +61.4% |
| Income taxes | 67/77 | €6,792 | €11,543 | +€4,751 | +69.9% |
| Profit (loss) for the period | 9904 | €28,386 | €45,250 | +€16,864 | +59.4% |
| Profit (loss) for the period to be appropriated | 9905 | €28,386 | €45,250 | +€16,864 | +59.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.