ILLUBEL: 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.
ILLUBEL
Largest movements
- Tangible fixed assets -€35,378
down €35,378 (-5.6%), from €627,745 to €592,367
of which Land and buildings: -€33,874
- Cash +€28,950
up €28,950 (+1,248%), from €2,319 to €31,270
mainly Current portion of long-term debt (+€46,533) and Depreciation (+€35,378)
- Financial fixed assets -€17,162
down €17,162 (-27.8%), from €61,797 to €44,635
- Deferred charges and accrued income -€10,744
down €10,744 (-68.4%), from €15,704 to €4,960
- Debts after one year -€91,021
down €91,021 (-16.7%), from €545,264 to €454,243
of which Financial debts: -€82,855
- Current portion of long-term debt +€46,533
up €46,533 (+4,558%), from €1,021 to €47,554
- Profit (loss) carried forward +€7,470
up €7,470 (+40.4%), from -€18,491 to -€11,022
- Gross operating margin +€16,166
up €16,166 (+28.2%), from €57,393 to €73,559
- Financial charges -€12,697
down €12,697 (-38.7%), from €32,810 to €20,113
of which Non-recurring financial charges: -€18,622
- Financial income -€2,523
down €2,523 (-37.7%), from €6,695 to €4,172
- Other operating charges +€887
up €887 (+6.4%), from €13,883 to €14,770
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 | €718,003 | €682,414 | -€35,589 | -5.0% |
| Fixed assets | 21/28 | €689,542 | €637,002 | -€52,540 | -7.6% |
| Tangible fixed assets | 22/27 | €627,745 | €592,367 | -€35,378 | -5.6% |
| Land and buildings | 22 | €623,647 | €589,772 | -€33,874 | -5.4% |
| Plant, machinery and equipment | 23 | €1,603 | €1,259 | -€344 | -21.5% |
| Furniture and vehicles | 24 | €2,495 | €1,335 | -€1,160 | -46.5% |
| Financial fixed assets | 28 | €61,797 | €44,635 | -€17,162 | -27.8% |
| Current assets | 29/58 | €28,461 | €45,412 | +€16,951 | +59.6% |
| Stocks and contracts in progress | 3 | €1,467 | €1,467 | = | 0.0% |
| Stocks | 30/36 | €1,467 | €1,467 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,900 | €7,559 | -€1,341 | -15.1% |
| Trade receivables | 40 | €0 | €7,559 | +€7,559 | |
| Other amounts receivable | 41 | €8,900 | - | -€8,900 | |
| Current investments | 50/53 | €71 | €156 | +€86 | +121% |
| Cash at bank and in hand | 54/58 | €2,319 | €31,270 | +€28,950 | +1,248% |
| Deferred charges and accrued income | 490/1 | €15,704 | €4,960 | -€10,744 | -68.4% |
| Total equity and liabilities | 10/49 | €718,003 | €682,414 | -€35,589 | -5.0% |
| Equity | 10/15 | €165,731 | €169,034 | +€3,303 | +2.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €54,121 | €54,121 | = | 0.0% |
| Distributable reserves | 133 | €54,121 | €54,121 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,491 | -€11,022 | +€7,470 | +40.4% |
| Investment grants | 15 | €80,101 | €75,934 | -€4,167 | -5.2% |
| Amounts payable | 17/49 | €552,272 | €513,381 | -€38,892 | -7.0% |
| Amounts payable after more than one year | 17 | €545,264 | €454,243 | -€91,021 | -16.7% |
| Financial debts | 170/4 | €517,785 | €434,930 | -€82,855 | -16.0% |
| Other amounts payable | 178/9 | €27,479 | €19,313 | -€8,167 | -29.7% |
| Amounts payable within one year | 42/48 | €7,008 | €55,338 | +€48,330 | +690% |
| Current portion of amounts payable after more than one year | 42 | €1,021 | €47,554 | +€46,533 | +4,558% |
| Trade debts | 44 | €3,581 | €447 | -€3,135 | -87.5% |
| Suppliers | 440/4 | €3,581 | €447 | -€3,135 | -87.5% |
| Taxes, remuneration and social security | 45 | €2,126 | €3,902 | +€1,776 | +83.5% |
| Taxes | 450/3 | €2,126 | €3,902 | +€1,776 | +83.5% |
| Other amounts payable | 47/48 | €280 | €3,435 | +€3,155 | +1,127% |
| Accrued charges and deferred income | 492/3 | €0 | €3,800 | +€3,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,900 | €35,378 | -€522 | -1.5% |
| Other operating charges | 640/8 | €13,883 | €14,770 | +€887 | +6.4% |
| Gross operating margin | 9900 | €57,393 | €73,559 | +€16,166 | +28.2% |
| Operating profit (loss) | 9901 | €7,610 | €23,412 | +€15,801 | +208% |
| Financial income | 75/76B | €6,695 | €4,172 | -€2,523 | -37.7% |
| Recurring financial income | 75 | €6,695 | €4,172 | -€2,523 | -37.7% |
| Financial charges | 65/66B | €32,810 | €20,113 | -€12,697 | -38.7% |
| Recurring financial charges | 65 | €14,188 | €20,113 | +€5,925 | +41.8% |
| Non-recurring financial charges | 66B | €18,622 | - | -€18,622 | |
| Profit (loss) for the period before taxes | 9903 | -€18,504 | €7,471 | +€25,976 | |
| Income taxes | 67/77 | -€13 | €2 | +€15 | |
| Profit (loss) for the period | 9904 | -€18,491 | €7,470 | +€25,961 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,491 | €7,470 | +€25,961 |
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 17 October 2026 via checked.be.