ILS & RAF: 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.
ILS & RAF
Largest movements
- Cash -€18,265
down €18,265 (-68.9%), from €26,515 to €8,250
mainly Debts after one year (-€18,814) and Receivables within one year (-€9,640)
- Tangible fixed assets -€12,969
down €12,969 (-12.3%), from €105,525 to €92,556
of which Furniture and vehicles: -€11,900
- Receivables within one year +€9,640
up €9,640 (+54.0%), from €17,849 to €27,489
of which Trade receivables: +€7,141
- Stocks and contracts +€2,134
up €2,134 (+60.4%), from €3,536 to €5,670
- Debts after one year -€18,814
no longer reported in 2025 (was €18,814)
- Profit (loss) carried forward +€9,296
up €9,296 (+15.0%), from €61,946 to €71,242
- Tax, wage and social debts -€4,019
down €4,019 (-59.3%), from €6,777 to €2,758
of which Taxes: -€2,696
- Current portion of long-term debt -€3,389
down €3,389 (-15.3%), from €22,203 to €18,814
- Trade debts -€1,887
down €1,887 (-5.9%), from €32,120 to €30,233
- Gross operating margin +€8,373
up €8,373 (+20.9%), from €40,088 to €48,461
- Staff costs +€7,211
up €7,211 (+77.2%), from €9,337 to €16,548
- Financial income +€647
up €647 (+198.0%), from €327 to €974
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 | €154,260 | €135,447 | -€18,813 | -12.2% |
| Fixed assets | 21/28 | €106,360 | €94,038 | -€12,322 | -11.6% |
| Tangible fixed assets | 22/27 | €105,525 | €92,556 | -€12,969 | -12.3% |
| Plant, machinery and equipment | 23 | €3,336 | €2,268 | -€1,068 | -32.0% |
| Furniture and vehicles | 24 | €102,189 | €90,289 | -€11,900 | -11.6% |
| Financial fixed assets | 28 | €835 | €1,482 | +€647 | +77.5% |
| Current assets | 29/58 | €47,900 | €41,409 | -€6,491 | -13.6% |
| Stocks and contracts in progress | 3 | €3,536 | €5,670 | +€2,134 | +60.4% |
| Stocks | 30/36 | €3,536 | €5,670 | +€2,134 | +60.4% |
| Amounts receivable within one year | 40/41 | €17,849 | €27,489 | +€9,640 | +54.0% |
| Trade receivables | 40 | €358 | €7,499 | +€7,141 | +1994.7% |
| Other amounts receivable | 41 | €17,491 | €19,990 | +€2,499 | +14.3% |
| Cash at bank and in hand | 54/58 | €26,515 | €8,250 | -€18,265 | -68.9% |
| Total equity and liabilities | 10/49 | €154,260 | €135,447 | -€18,813 | -12.2% |
| Equity | 10/15 | €74,346 | €83,642 | +€9,296 | +12.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,946 | €71,242 | +€9,296 | +15.0% |
| Amounts payable | 17/49 | €79,914 | €51,805 | -€28,109 | -35.2% |
| Amounts payable after more than one year | 17 | €18,814 | - | -€18,814 | |
| Financial debts | 170/4 | €18,814 | - | -€18,814 | |
| Amounts payable within one year | 42/48 | €61,100 | €51,805 | -€9,295 | -15.2% |
| Current portion of amounts payable after more than one year | 42 | €22,203 | €18,814 | -€3,389 | -15.3% |
| Trade debts | 44 | €32,120 | €30,233 | -€1,887 | -5.9% |
| Suppliers | 440/4 | €32,120 | €30,233 | -€1,887 | -5.9% |
| Taxes, remuneration and social security | 45 | €6,777 | €2,758 | -€4,019 | -59.3% |
| Taxes | 450/3 | €5,454 | €2,758 | -€2,696 | -49.4% |
| Remuneration and social security | 454/9 | €1,323 | - | -€1,323 | |
| Remuneration, social security and pensions | 62 | €9,337 | €16,548 | +€7,211 | +77.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,837 | €16,987 | +€150 | +0.9% |
| Other operating charges | 640/8 | €2,732 | €2,665 | -€67 | -2.4% |
| Non-recurring operating charges | 66A | €4,380 | - | -€4,380 | |
| Gross operating margin | 9900 | €40,088 | €48,461 | +€8,373 | +20.9% |
| Operating profit (loss) | 9901 | €6,802 | €12,261 | +€5,459 | +80.3% |
| Financial income | 75/76B | €327 | €974 | +€647 | +198.0% |
| Recurring financial income | 75 | €327 | €974 | +€647 | +198.0% |
| Financial charges | 65/66B | €3,058 | €3,114 | +€56 | +1.8% |
| Recurring financial charges | 65 | €3,058 | €3,114 | +€56 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €4,071 | €10,121 | +€6,050 | +148.6% |
| Income taxes | 67/77 | €1,303 | €825 | -€478 | -36.7% |
| Profit (loss) for the period | 9904 | €2,768 | €9,296 | +€6,528 | +235.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,768 | €9,296 | +€6,528 | +235.9% |
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 12 October 2026 via checked.be.