ilfaro: 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.
ilfaro
Largest movements
- Receivables within one year -€54,711
down €54,711 (-57.9%), from €94,550 to €39,839
of which Trade receivables: -€56,492
- Cash +€28,672
up €28,672 (+33.7%), from €84,982 to €113,653
mainly Receivables within one year (+€54,711) and Trade debts (+€42,708)
- Deferred charges and accrued income -€3,336
down €3,336 (-88.2%), from €3,783 to €447
- Intangible fixed assets -€2,500
down €2,500 (-25.1%), from €9,966 to €7,466
- Accrued charges and deferred income -€55,116
down €55,116 (-83.7%), from €65,876 to €10,760
- Trade debts +€42,708
up €42,708 (+50.5%), from €84,552 to €127,261
- Other debts -€12,264
down €12,264 (-100%), from €12,264 to €0
- Tax, wage and social debts -€9,540
down €9,540 (-100%), from €9,540 to €0
- Profit (loss) carried forward +€4,078
up €4,078 (+36.3%), from €11,246 to €15,325
- Gross operating margin -€8,049
down €8,049 (-46.3%), from €17,369 to €9,320
- Financial income -€1,089
down €1,089 (-100.0%), from €1,089 to €0
- Other operating charges +€828
up €828 (+49.5%), from €1,672 to €2,500
- Depreciation +€182
up €182 (+7.8%), from €2,319 to €2,500
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 | €193,281 | €161,405 | -€31,875 | -16.5% |
| Fixed assets | 21/28 | €9,966 | €7,466 | -€2,500 | -25.1% |
| Intangible fixed assets | 21 | €9,966 | €7,466 | -€2,500 | -25.1% |
| Current assets | 29/58 | €183,315 | €153,939 | -€29,375 | -16.0% |
| Amounts receivable within one year | 40/41 | €94,550 | €39,839 | -€54,711 | -57.9% |
| Trade receivables | 40 | €90,550 | €34,057 | -€56,492 | -62.4% |
| Other amounts receivable | 41 | €4,000 | €5,782 | +€1,782 | +44.5% |
| Cash at bank and in hand | 54/58 | €84,982 | €113,653 | +€28,672 | +33.7% |
| Deferred charges and accrued income | 490/1 | €3,783 | €447 | -€3,336 | -88.2% |
| Total equity and liabilities | 10/49 | €193,281 | €161,405 | -€31,875 | -16.5% |
| Equity | 10/15 | €19,306 | €23,385 | +€4,078 | +21.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,246 | €15,325 | +€4,078 | +36.3% |
| Amounts payable | 17/49 | €173,974 | €138,021 | -€35,954 | -20.7% |
| Amounts payable within one year | 42/48 | €108,098 | €127,261 | +€19,162 | +17.7% |
| Trade debts | 44 | €84,552 | €127,261 | +€42,708 | +50.5% |
| Suppliers | 440/4 | €84,552 | €127,261 | +€42,708 | +50.5% |
| Advances received on contracts in progress | 46 | €1,742 | €0 | -€1,742 | -100% |
| Taxes, remuneration and social security | 45 | €9,540 | €0 | -€9,540 | -100% |
| Taxes | 450/3 | €9,540 | €0 | -€9,540 | -100% |
| Other amounts payable | 47/48 | €12,264 | €0 | -€12,264 | -100% |
| Accrued charges and deferred income | 492/3 | €65,876 | €10,760 | -€55,116 | -83.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,319 | €2,500 | +€182 | +7.8% |
| Other operating charges | 640/8 | €1,672 | €2,500 | +€828 | +49.5% |
| Gross operating margin | 9900 | €17,369 | €9,320 | -€8,049 | -46.3% |
| Operating profit (loss) | 9901 | €13,379 | €4,319 | -€9,059 | -67.7% |
| Financial income | 75/76B | €1,089 | €0 | -€1,089 | -100.0% |
| Recurring financial income | 75 | €1,089 | €0 | -€1,089 | -100.0% |
| Financial charges | 65/66B | €231 | €241 | +€10 | +4.2% |
| Recurring financial charges | 65 | €231 | €241 | +€10 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €14,236 | €4,078 | -€10,158 | -71.4% |
| Profit (loss) for the period | 9904 | €14,236 | €4,078 | -€10,158 | -71.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,236 | €4,078 | -€10,158 | -71.4% |
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 25 October 2026 via checked.be.