ILSE BROCK: 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.
ILSE BROCK
Largest movements
- Tangible fixed assets +€558,561
up €558,561 (+83.4%), from €669,438 to €1.2m
of which Land and buildings: +€568,792
- Cash -€231,466
down €231,466 (-77.8%), from €297,422 to €65,956
mainly Investment in fixed assets (net) (-€614,993) and Current portion of long-term debt (-€134,280)
- Other debts +€519,960
up €519,960 (+164%), from €317,769 to €837,729
- Current portion of long-term debt -€134,280
no longer reported in 2025 (was €134,280)
- Reserves -€53,593
down €53,593 (-11.2%), from €476,560 to €422,967
of which Distributable reserves: -€53,593
- Gross operating margin -€60,753
down €60,753 (-39.4%), from €154,246 to €93,493
- Depreciation +€22,463
up €22,463 (+66.1%), from €33,969 to €56,432
- Taxes -€21,682
down €21,682 (-75.4%), from €28,759 to €7,077
- Financial charges -€9,543
down €9,543 (-62.9%), from €15,164 to €5,621
- Other operating charges +€3,027
up €3,027 (+61.4%), from €4,929 to €7,956
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 | €985,282 | €1,316,589 | +€331,307 | +33.6% |
| Fixed assets | 21/28 | €669,438 | €1,227,999 | +€558,561 | +83.4% |
| Tangible fixed assets | 22/27 | €669,438 | €1,227,999 | +€558,561 | +83.4% |
| Land and buildings | 22 | €644,936 | €1,213,728 | +€568,792 | +88.2% |
| Plant, machinery and equipment | 23 | €10,830 | €7,364 | -€3,466 | -32.0% |
| Furniture and vehicles | 24 | €13,672 | €6,907 | -€6,765 | -49.5% |
| Current assets | 29/58 | €315,844 | €88,590 | -€227,254 | -72.0% |
| Amounts receivable within one year | 40/41 | €18,422 | €22,634 | +€4,212 | +22.9% |
| Trade receivables | 40 | €18,422 | €19,082 | +€660 | +3.6% |
| Other amounts receivable | 41 | - | €3,552 | +€3,552 | |
| Cash at bank and in hand | 54/58 | €297,422 | €65,956 | -€231,466 | -77.8% |
| Total equity and liabilities | 10/49 | €985,282 | €1,316,589 | +€331,307 | +33.6% |
| Equity | 10/15 | €508,960 | €455,367 | -€53,593 | -10.5% |
| Contributions | 10/11 | €32,400 | €32,400 | = | 0.0% |
| Reserves | 13 | €476,560 | €422,967 | -€53,593 | -11.2% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €474,560 | €420,967 | -€53,593 | -11.3% |
| Amounts payable | 17/49 | €476,322 | €861,222 | +€384,900 | +80.8% |
| Amounts payable within one year | 42/48 | €476,322 | €861,222 | +€384,900 | +80.8% |
| Current portion of amounts payable after more than one year | 42 | €134,280 | - | -€134,280 | |
| Trade debts | 44 | €1,560 | €4,142 | +€2,582 | +166% |
| Suppliers | 440/4 | €1,560 | €4,142 | +€2,582 | +166% |
| Taxes, remuneration and social security | 45 | €22,713 | €19,351 | -€3,362 | -14.8% |
| Taxes | 450/3 | €22,713 | €19,351 | -€3,362 | -14.8% |
| Other amounts payable | 47/48 | €317,769 | €837,729 | +€519,960 | +164% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,969 | €56,432 | +€22,463 | +66.1% |
| Other operating charges | 640/8 | €4,929 | €7,956 | +€3,027 | +61.4% |
| Gross operating margin | 9900 | €154,246 | €93,493 | -€60,753 | -39.4% |
| Operating profit (loss) | 9901 | €115,348 | €29,105 | -€86,243 | -74.8% |
| Financial charges | 65/66B | €15,164 | €5,621 | -€9,543 | -62.9% |
| Recurring financial charges | 65 | €15,164 | €5,621 | -€9,543 | -62.9% |
| Profit (loss) for the period before taxes | 9903 | €100,184 | €23,484 | -€76,700 | -76.6% |
| Income taxes | 67/77 | €28,759 | €7,077 | -€21,682 | -75.4% |
| Profit (loss) for the period | 9904 | €71,425 | €16,407 | -€55,018 | -77.0% |
| Profit (loss) for the period to be appropriated | 9905 | €71,425 | €16,407 | -€55,018 | -77.0% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.