ILSE CHRIST: what changed
Two fiscal 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 CHRIST
Largest movements
- Receivables within one year +€11,191
new in 2025: €11,191
- Tangible fixed assets -€4,539
down €4,539 (-2.3%), from €199,853 to €195,314
of which Land and buildings: -€4,213
- Reserves +€22,696
up €22,696 (+23.4%), from €96,916 to €119,612
of which Distributable reserves: +€22,959
- Other debts -€10,748
down €10,748 (-26.4%), from €40,748 to €30,000
- Tax, wage and social debts -€5,277
down €5,277 (-13.9%), from €37,891 to €32,614
- Gross operating margin -€19,918
down €19,918 (-20.3%), from €98,324 to €78,407
- Taxes -€11,987
down €11,987 (-55.8%), from €21,487 to €9,500
- Other operating charges -€10,625
down €10,625 (-76.9%), from €13,823 to €3,198
- Depreciation +€1,240
up €1,240 (+12.9%), from €9,643 to €10,882
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 | €204,378 | €211,752 | +€7,373 | +3.6% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €199,853 | €195,314 | -€4,539 | -2.3% |
| Tangible fixed assets | 22/27 | €199,853 | €195,314 | -€4,539 | -2.3% |
| Land and buildings | 22 | €198,551 | €194,338 | -€4,213 | -2.1% |
| Furniture and vehicles | 24 | €1,302 | €976 | -€325 | -25.0% |
| Current assets | 29/58 | €4,526 | €16,438 | +€11,912 | +263.2% |
| Amounts receivable within one year | 40/41 | - | €11,191 | +€11,191 | |
| Other amounts receivable | 41 | - | €11,191 | +€11,191 | |
| Cash at bank and in hand | 54/58 | €4,351 | €4,981 | +€630 | +14.5% |
| Deferred charges and accrued income | 490/1 | €174 | €266 | +€92 | +52.5% |
| Total equity and liabilities | 10/49 | €204,378 | €211,752 | +€7,373 | +3.6% |
| Equity | 10/15 | €115,516 | €138,212 | +€22,696 | +19.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €96,916 | €119,612 | +€22,696 | +23.4% |
| Non-distributable reserves | 130/1 | €263 | €0 | -€263 | -100.0% |
| Reserves not available under the articles | 1311 | €263 | €0 | -€263 | -100.0% |
| Distributable reserves | 133 | €96,653 | €119,612 | +€22,959 | +23.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €88,862 | €73,540 | -€15,323 | -17.2% |
| Amounts payable within one year | 42/48 | €88,862 | €73,384 | -€15,478 | -17.4% |
| Financial debts | 43 | €6,905 | €7,291 | +€386 | +5.6% |
| Credit institutions | 430/8 | €6,905 | €7,291 | +€386 | +5.6% |
| Trade debts | 44 | €3,318 | €3,479 | +€161 | +4.8% |
| Suppliers | 440/4 | €3,318 | €3,479 | +€161 | +4.8% |
| Taxes, remuneration and social security | 45 | €37,891 | €32,614 | -€5,277 | -13.9% |
| Taxes | 450/3 | €37,891 | €32,614 | -€5,277 | -13.9% |
| Other amounts payable | 47/48 | €40,748 | €30,000 | -€10,748 | -26.4% |
| Accrued charges and deferred income | 492/3 | - | €155 | +€155 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,643 | €10,882 | +€1,240 | +12.9% |
| Other operating charges | 640/8 | €13,823 | €3,198 | -€10,625 | -76.9% |
| Gross operating margin | 9900 | €98,324 | €78,407 | -€19,918 | -20.3% |
| Operating profit (loss) | 9901 | €74,859 | €64,326 | -€10,532 | -14.1% |
| Financial income | 75/76B | €12 | €0 | -€12 | -100.0% |
| Recurring financial income | 75 | €12 | €0 | -€12 | -100.0% |
| Financial charges | 65/66B | €1,707 | €2,130 | +€424 | +24.8% |
| Recurring financial charges | 65 | €1,707 | €2,130 | +€424 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | €73,164 | €62,196 | -€10,968 | -15.0% |
| Income taxes | 67/77 | €21,487 | €9,500 | -€11,987 | -55.8% |
| Profit (loss) for the period | 9904 | €51,677 | €52,696 | +€1,019 | +2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,677 | €52,696 | +€1,019 | +2.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.