ILMO: 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.
What changed
ILMO
NACE 64.210, Activities of holding companies
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€177,259
2025 · €157,602+€19,657
Equity
€658,342
2025 · €780,468-€122,125
Cash
€35,138
2025 · €6,400+€28,738
Balance sheet total
€4.1m
2025 · €3.9m+€165,184
Largest movements
Assets
- Receivables within one year +€345,368
up €345,368 (+679%), from €50,873 to €396,240
of which Trade receivables: +€332,337
- Tangible fixed assets -€222,702
down €222,702 (-6.0%), from €3.7m to €3.5m
of which Land and buildings: -€221,768
Equity and liabilities
- Other debts +€413,390
up €413,390 (+133%), from €309,806 to €723,196
- Debts after one year -€177,203
down €177,203 (-6.8%), from €2.6m to €2.4m
- Reserves -€122,125
down €122,125 (-18.6%), from €655,468 to €533,342
of which Distributable reserves: -€122,125
Income statement
- Gross operating margin +€38,932
up €38,932 (+7.9%), from €494,107 to €533,039
- Taxes +€10,181
up €10,181 (+16.9%), from €60,384 to €70,565
- Financial charges +€9,950
up €9,950 (+12.0%), from €82,639 to €92,589
of which Financial charges: +€9,950
From the 2025 result to the 2026 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.
Result 2025
€157,602
Gross operating margin
+€38,932
Depreciation
+€1,565
Other operating charges
-€2,437
Financial income
+€1,727
Financial charges
-€9,950
Taxes
-€10,181
Result 2026
€177,259
raises the resultlowers the result
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€470,274
Investment
+€28,650
Financing
-€470,186
Cash 2025
€6,400
From operations (derived)
+€470,274
Net result for the year
+€177,259
Depreciation
+€194,052
Receivables after one year
-€13,201
Receivables within one year
-€345,368
Deferred charges and accrued income
-€579
Trade debts
+€2,043
Tax, wage and social debts
+€32,446
Other debts
+€413,390
Accrued charges and deferred income
+€10,233
Investment (derived)
+€28,650
Investment in fixed assets (net)
+€28,650
Financing
-€470,186
Debts after one year
-€177,203
Current portion of long-term debt
+€4,326
Short-term financial debts
+€2,075
Contributions, distributions and other
-€299,384
Cash 2026
€35,138
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,945,874 | €4,111,058 | +€165,184 | +4.2% |
| Fixed assets | 21/28 | €3,692,640 | €3,469,938 | -€222,702 | -6.0% |
| Tangible fixed assets | 22/27 | €3,692,640 | €3,469,938 | -€222,702 | -6.0% |
| Land and buildings | 22 | €3,689,034 | €3,467,266 | -€221,768 | -6.0% |
| Other tangible fixed assets | 26 | €3,606 | €2,672 | -€934 | -25.9% |
| Current assets | 29/58 | €253,234 | €641,120 | +€387,886 | +153% |
| Amounts receivable after more than one year | 29 | €182,227 | €195,429 | +€13,201 | +7.2% |
| Other amounts receivable | 291 | €182,227 | €195,429 | +€13,201 | +7.2% |
| Amounts receivable within one year | 40/41 | €50,873 | €396,240 | +€345,368 | +679% |
| Trade receivables | 40 | €15,873 | €348,210 | +€332,337 | +2,094% |
| Other amounts receivable | 41 | €35,000 | €48,031 | +€13,031 | +37.2% |
| Cash at bank and in hand | 54/58 | €6,400 | €35,138 | +€28,738 | +449% |
| Deferred charges and accrued income | 490/1 | €13,734 | €14,313 | +€579 | +4.2% |
| Total equity and liabilities | 10/49 | €3,945,874 | €4,111,058 | +€165,184 | +4.2% |
| Equity | 10/15 | €780,468 | €658,342 | -€122,125 | -15.6% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €655,468 | €533,342 | -€122,125 | -18.6% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €642,968 | €520,842 | -€122,125 | -19.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,165,407 | €3,452,716 | +€287,309 | +9.1% |
| Amounts payable after more than one year | 17 | €2,603,167 | €2,425,964 | -€177,203 | -6.8% |
| Financial debts | 170/4 | €2,603,167 | €2,425,964 | -€177,203 | -6.8% |
| Amounts payable within one year | 42/48 | €551,400 | €1,005,679 | +€454,279 | +82.4% |
| Current portion of amounts payable after more than one year | 42 | €172,877 | €177,203 | +€4,326 | +2.5% |
| Financial debts | 43 | €39,156 | €41,231 | +€2,075 | +5.3% |
| Credit institutions | 430/8 | €39,156 | €41,231 | +€2,075 | +5.3% |
| Trade debts | 44 | €19,912 | €21,955 | +€2,043 | +10.3% |
| Suppliers | 440/4 | €19,912 | €21,955 | +€2,043 | +10.3% |
| Taxes, remuneration and social security | 45 | €9,649 | €42,094 | +€32,446 | +336% |
| Taxes | 450/3 | €9,649 | €42,094 | +€32,446 | +336% |
| Other amounts payable | 47/48 | €309,806 | €723,196 | +€413,390 | +133% |
| Accrued charges and deferred income | 492/3 | €10,840 | €21,073 | +€10,233 | +94.4% |
| Non-recurring operating income | 76A | - | €6,409 | +€6,409 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €195,617 | €194,052 | -€1,565 | -0.8% |
| Other operating charges | 640/8 | €4,473 | €6,909 | +€2,437 | +54.5% |
| Gross operating margin | 9900 | €494,107 | €533,039 | +€38,932 | +7.9% |
| Operating profit (loss) | 9901 | €294,017 | €332,078 | +€38,061 | +12.9% |
| Financial income | 75/76B | €6,608 | €8,335 | +€1,727 | +26.1% |
| Recurring financial income | 75 | €6,608 | €8,335 | +€1,727 | +26.1% |
| Financial charges | 65/66B | €82,639 | €92,589 | +€9,950 | +12.0% |
| Recurring financial charges | 65 | €82,639 | €92,589 | +€9,950 | +12.0% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €217,986 | €247,824 | +€29,839 | +13.7% |
| Income taxes | 67/77 | €60,384 | €70,565 | +€10,181 | +16.9% |
| Profit (loss) for the period | 9904 | €157,602 | €177,259 | +€19,657 | +12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €157,602 | €177,259 | +€19,657 | +12.5% |
Source: filed annual accounts (NBB), financial years ended 30 April 2025 and 30 April 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.