Ilham Fa: 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.
Ilham Fa
Largest movements
- Cash +€23,696
up €23,696 (+30.8%), from €76,890 to €100,585
mainly Other debts (+€67,297) and Net result for the year (+€38,088)
- Receivables within one year -€9,598
down €9,598 (-97.8%), from €9,817 to €219
- Tangible fixed assets +€3,245
up €3,245 (+86.5%), from €3,750 to €6,995
of which Furniture and vehicles: +€1,965
- Other debts +€67,297
new in 2025: €67,297
- Profit (loss) carried forward -€54,703
down €54,703 (-59.0%), from €92,792 to €38,088
- Tax, wage and social debts +€3,915
up €3,915 (+33.5%), from €11,684 to €15,599
- Gross operating margin +€7,495
up €7,495 (+15.9%), from €47,252 to €54,747
- Taxes +€4,149
up €4,149 (+42.4%), from €9,781 to €13,930
- Depreciation +€1,655
up €1,655 (+662.2%), from €250 to €1,905
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 | €106,934 | €124,022 | +€17,088 | +16.0% |
| Fixed assets | 21/28 | €3,750 | €6,995 | +€3,245 | +86.5% |
| Tangible fixed assets | 22/27 | €3,750 | €6,995 | +€3,245 | +86.5% |
| Plant, machinery and equipment | 23 | - | €1,279 | +€1,279 | |
| Furniture and vehicles | 24 | €3,750 | €5,715 | +€1,965 | +52.4% |
| Current assets | 29/58 | €103,184 | €117,027 | +€13,844 | +13.4% |
| Amounts receivable within one year | 40/41 | €9,817 | €219 | -€9,598 | -97.8% |
| Other amounts receivable | 41 | €9,817 | €219 | -€9,598 | -97.8% |
| Cash at bank and in hand | 54/58 | €76,890 | €100,585 | +€23,696 | +30.8% |
| Deferred charges and accrued income | 490/1 | €16,477 | €16,223 | -€254 | -1.5% |
| Total equity and liabilities | 10/49 | €106,934 | €124,022 | +€17,088 | +16.0% |
| Equity | 10/15 | €94,792 | €40,088 | -€54,703 | -57.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,792 | €38,088 | -€54,703 | -59.0% |
| Amounts payable | 17/49 | €12,142 | €83,933 | +€71,791 | +591.3% |
| Amounts payable within one year | 42/48 | €12,142 | €83,933 | +€71,791 | +591.3% |
| Trade debts | 44 | €458 | €1,038 | +€579 | +126.5% |
| Suppliers | 440/4 | €458 | €1,038 | +€579 | +126.5% |
| Taxes, remuneration and social security | 45 | €11,684 | €15,599 | +€3,915 | +33.5% |
| Taxes | 450/3 | €11,684 | €15,599 | +€3,915 | +33.5% |
| Other amounts payable | 47/48 | - | €67,297 | +€67,297 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €250 | €1,905 | +€1,655 | +662.2% |
| Other operating charges | 640/8 | €1,196 | €771 | -€425 | -35.5% |
| Gross operating margin | 9900 | €47,252 | €54,747 | +€7,495 | +15.9% |
| Operating profit (loss) | 9901 | €45,806 | €52,071 | +€6,265 | +13.7% |
| Financial income | 75/76B | €406 | - | -€406 | |
| Recurring financial income | 75 | €406 | - | -€406 | |
| Financial charges | 65/66B | €114 | €53 | -€61 | -53.7% |
| Recurring financial charges | 65 | €114 | €53 | -€61 | -53.7% |
| Profit (loss) for the period before taxes | 9903 | €46,099 | €52,019 | +€5,920 | +12.8% |
| Income taxes | 67/77 | €9,781 | €13,930 | +€4,149 | +42.4% |
| Profit (loss) for the period | 9904 | €36,318 | €38,088 | +€1,770 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €36,318 | €38,088 | +€1,770 | +4.9% |
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 6 October 2026 via checked.be.