ILSA GODLOVITCH: what changed
ILSA GODLOVITCH
Largest movements
- Cash +€46,206
up €46,206 (+18.0%), from €257,358 to €303,565
mainly Net result for the year (+€84,204) and Receivables within one year (+€38,271)
- Receivables within one year -€38,271
down €38,271 (-28.6%), from €133,914 to €95,643
of which Trade receivables: -€27,525
- Other debts +€22,902
up €22,902 (+28.6%), from €79,995 to €102,897
- Reserves -€18,693
down €18,693 (-6.5%), from €289,496 to €270,803
of which Distributable reserves: -€11,193
- Trade debts +€9,753
up €9,753 (+608%), from €1,603 to €11,356
- Tax, wage and social debts -€6,027
down €6,027 (-77.5%), from €7,778 to €1,751
- Gross operating margin +€24,912
up €24,912 (+27.2%), from €91,672 to €116,584
- Taxes +€10,840
up €10,840 (+40.6%), from €26,711 to €37,550
- Financial income +€1,697
up €1,697 (+43.8%), from €3,876 to €5,574
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €391,272 | €399,208 | +€7,935 | +2.0% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €391,272 | €399,208 | +€7,935 | +2.0% |
| Amounts receivable within one year | 40/41 | €133,914 | €95,643 | -€38,271 | -28.6% |
| Trade receivables | 40 | €70,494 | €42,969 | -€27,525 | -39.0% |
| Other amounts receivable | 41 | €63,420 | €52,674 | -€10,746 | -16.9% |
| Cash at bank and in hand | 54/58 | €257,358 | €303,565 | +€46,206 | +18.0% |
| Total equity and liabilities | 10/49 | €391,272 | €399,208 | +€7,935 | +2.0% |
| Equity | 10/15 | €301,896 | €283,203 | -€18,693 | -6.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €289,496 | €270,803 | -€18,693 | -6.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,500 | €0 | -€7,500 | -100% |
| Distributable reserves | 133 | €280,136 | €268,943 | -€11,193 | -4.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €89,376 | €116,005 | +€26,629 | +29.8% |
| Amounts payable within one year | 42/48 | €89,376 | €116,005 | +€26,629 | +29.8% |
| Trade debts | 44 | €1,603 | €11,356 | +€9,753 | +608% |
| Suppliers | 440/4 | €1,603 | €11,356 | +€9,753 | +608% |
| Taxes, remuneration and social security | 45 | €7,778 | €1,751 | -€6,027 | -77.5% |
| Taxes | 450/3 | €7,778 | €1,751 | -€6,027 | -77.5% |
| Other amounts payable | 47/48 | €79,995 | €102,897 | +€22,902 | +28.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €187 | €0 | -€187 | -100% |
| Gross operating margin | 9900 | €91,672 | €116,584 | +€24,912 | +27.2% |
| Operating profit (loss) | 9901 | €91,486 | €116,584 | +€25,099 | +27.4% |
| Financial income | 75/76B | €3,876 | €5,574 | +€1,697 | +43.8% |
| Recurring financial income | 75 | €3,876 | €5,574 | +€1,697 | +43.8% |
| Financial charges | 65/66B | €182 | €403 | +€222 | +122% |
| Recurring financial charges | 65 | €182 | €403 | +€222 | +122% |
| Profit (loss) for the period before taxes | 9903 | €95,180 | €121,754 | +€26,574 | +27.9% |
| Income taxes | 67/77 | €26,711 | €37,550 | +€10,840 | +40.6% |
| Profit (loss) for the period | 9904 | €68,469 | €84,204 | +€15,735 | +23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €68,469 | €84,204 | +€15,735 | +23.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.