Ilias NAJEM: 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.
Ilias NAJEM
Largest movements
- Cash +€116,164
up €116,164 (+369%), from €31,467 to €147,631
mainly Net result for the year (+€134,529) and Tax, wage and social debts (+€17,309)
- Receivables within one year +€41,825
up €41,825 (+181%), from €23,100 to €64,926
of which Trade receivables: +€21,398
- Tangible fixed assets +€4,106
up €4,106 (+39.7%), from €10,351 to €14,457
of which Furniture and vehicles: +€4,662
- Profit (loss) carried forward +€134,529
up €134,529 (+365%), from €36,842 to €171,371
- Tax, wage and social debts +€17,309
up €17,309 (+107%), from €16,121 to €33,430
of which Taxes: +€16,659
- Trade debts +€11,834
up €11,834 (+339%), from €3,489 to €15,323
- Gross operating margin +€153,892
up €153,892 (+524%), from €29,346 to €183,238
- Taxes +€35,944
up €35,944 (+498%), from €7,222 to €43,166
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 | €65,015 | €227,041 | +€162,026 | +249% |
| Fixed assets | 21/28 | €10,351 | €14,457 | +€4,106 | +39.7% |
| Tangible fixed assets | 22/27 | €10,351 | €14,457 | +€4,106 | +39.7% |
| Furniture and vehicles | 24 | €5,308 | €9,969 | +€4,662 | +87.8% |
| Other tangible fixed assets | 26 | €5,044 | €4,488 | -€556 | -11.0% |
| Current assets | 29/58 | €54,664 | €212,584 | +€157,921 | +289% |
| Amounts receivable within one year | 40/41 | €23,100 | €64,926 | +€41,825 | +181% |
| Trade receivables | 40 | €17,280 | €38,679 | +€21,398 | +124% |
| Other amounts receivable | 41 | €5,820 | €26,247 | +€20,427 | +351% |
| Cash at bank and in hand | 54/58 | €31,467 | €147,631 | +€116,164 | +369% |
| Deferred charges and accrued income | 490/1 | €96 | €28 | -€69 | -71.4% |
| Total equity and liabilities | 10/49 | €65,015 | €227,041 | +€162,026 | +249% |
| Equity | 10/15 | €39,342 | €173,871 | +€134,529 | +342% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,842 | €171,371 | +€134,529 | +365% |
| Amounts payable | 17/49 | €25,673 | €53,170 | +€27,497 | +107% |
| Amounts payable after more than one year | 17 | €3,617 | €1,959 | -€1,658 | -45.8% |
| Financial debts | 170/4 | €3,617 | €1,959 | -€1,658 | -45.8% |
| Amounts payable within one year | 42/48 | €21,249 | €50,411 | +€29,162 | +137% |
| Current portion of amounts payable after more than one year | 42 | €1,639 | €1,658 | +€19 | +1.2% |
| Trade debts | 44 | €3,489 | €15,323 | +€11,834 | +339% |
| Suppliers | 440/4 | €3,489 | €15,323 | +€11,834 | +339% |
| Taxes, remuneration and social security | 45 | €16,121 | €33,430 | +€17,309 | +107% |
| Taxes | 450/3 | €14,421 | €31,080 | +€16,659 | +116% |
| Remuneration and social security | 454/9 | €1,700 | €2,350 | +€650 | +38.2% |
| Accrued charges and deferred income | 492/3 | €807 | €800 | -€7 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,020 | €4,601 | +€582 | +14.5% |
| Other operating charges | 640/8 | €296 | €665 | +€369 | +125% |
| Gross operating margin | 9900 | €29,346 | €183,238 | +€153,892 | +524% |
| Operating profit (loss) | 9901 | €25,030 | €177,972 | +€152,942 | +611% |
| Financial income | 75/76B | €1 | €1 | -€0 | -1.9% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -1.9% |
| Financial charges | 65/66B | €412 | €278 | -€135 | -32.7% |
| Recurring financial charges | 65 | €412 | €278 | -€135 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | €24,619 | €177,695 | +€153,076 | +622% |
| Income taxes | 67/77 | €7,222 | €43,166 | +€35,944 | +498% |
| Profit (loss) for the period | 9904 | €17,397 | €134,529 | +€117,132 | +673% |
| Profit (loss) for the period to be appropriated | 9905 | €17,397 | €134,529 | +€117,132 | +673% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.