ILSE H.: 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 H.
Largest movements
- Receivables within one year -€35,661
down €35,661 (-73.0%), from €48,842 to €13,181
of which Trade receivables: -€40,067
- Tangible fixed assets -€28,392
down €28,392 (-19.0%), from €149,448 to €121,057
of which Furniture and vehicles: -€35,769
- Cash -€13,164
down €13,164 (-11.6%), from €113,547 to €100,382
mainly Tax, wage and social debts (-€43,517) and Debts after one year (-€20,066)
- Tax, wage and social debts -€43,517
down €43,517 (-44.3%), from €98,121 to €54,605
of which Taxes: -€37,262
- Reserves +€30,896
up €30,896 (+17.4%), from €177,653 to €208,549
of which Distributable reserves: +€30,896
- Debts after one year -€20,066
down €20,066 (-30.8%), from €65,242 to €45,176
- Advances received -€16,438
no longer reported in 2025 (was €16,438)
- Trade debts -€10,255
down €10,255 (-82.6%), from €12,410 to €2,155
- Gross operating margin -€11,246
down €11,246 (-5.4%), from €206,951 to €195,705
- Taxes -€10,511
down €10,511 (-53.6%), from €19,619 to €9,108
- Staff costs +€10,038
up €10,038 (+9.4%), from €106,520 to €116,558
- Financial income -€2,806
down €2,806 (-13.8%), from €20,288 to €17,481
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 | €544,819 | €473,890 | -€70,929 | -13.0% |
| Fixed assets | 21/28 | €149,448 | €121,057 | -€28,392 | -19.0% |
| Tangible fixed assets | 22/27 | €149,448 | €121,057 | -€28,392 | -19.0% |
| Land and buildings | 22 | €2,367 | €6,365 | +€3,998 | +169% |
| Plant, machinery and equipment | 23 | €4,829 | €662 | -€4,167 | -86.3% |
| Furniture and vehicles | 24 | €142,252 | €106,483 | -€35,769 | -25.1% |
| Other tangible fixed assets | 26 | - | €7,547 | +€7,547 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €395,371 | €352,833 | -€42,538 | -10.8% |
| Stocks and contracts in progress | 3 | €230,201 | €235,418 | +€5,217 | +2.3% |
| Stocks | 30/36 | €230,201 | €235,418 | +€5,217 | +2.3% |
| Amounts receivable within one year | 40/41 | €48,842 | €13,181 | -€35,661 | -73.0% |
| Trade receivables | 40 | €45,205 | €5,138 | -€40,067 | -88.6% |
| Other amounts receivable | 41 | €3,637 | €8,043 | +€4,407 | +121% |
| Cash at bank and in hand | 54/58 | €113,547 | €100,382 | -€13,164 | -11.6% |
| Deferred charges and accrued income | 490/1 | €2,781 | €3,852 | +€1,071 | +38.5% |
| Total equity and liabilities | 10/49 | €544,819 | €473,890 | -€70,929 | -13.0% |
| Equity | 10/15 | €221,653 | €252,549 | +€30,896 | +13.9% |
| Contributions | 10/11 | €44,000 | €44,000 | = | 0.0% |
| Reserves | 13 | €177,653 | €208,549 | +€30,896 | +17.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €177,653 | €208,549 | +€30,896 | +17.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €323,166 | €221,341 | -€101,825 | -31.5% |
| Amounts payable after more than one year | 17 | €65,242 | €45,176 | -€20,066 | -30.8% |
| Financial debts | 170/4 | €65,242 | €45,176 | -€20,066 | -30.8% |
| Amounts payable within one year | 42/48 | €250,600 | €171,629 | -€78,971 | -31.5% |
| Current portion of amounts payable after more than one year | 42 | €19,086 | €20,066 | +€980 | +5.1% |
| Trade debts | 44 | €12,410 | €2,155 | -€10,255 | -82.6% |
| Suppliers | 440/4 | €12,410 | €2,155 | -€10,255 | -82.6% |
| Advances received on contracts in progress | 46 | €16,438 | - | -€16,438 | |
| Taxes, remuneration and social security | 45 | €98,121 | €54,605 | -€43,517 | -44.3% |
| Taxes | 450/3 | €71,665 | €34,403 | -€37,262 | -52.0% |
| Remuneration and social security | 454/9 | €26,457 | €20,202 | -€6,255 | -23.6% |
| Other amounts payable | 47/48 | €104,545 | €94,804 | -€9,741 | -9.3% |
| Accrued charges and deferred income | 492/3 | €7,324 | €4,536 | -€2,788 | -38.1% |
| Non-recurring operating income | 76A | €8,632 | - | -€8,632 | |
| Remuneration, social security and pensions | 62 | €106,520 | €116,558 | +€10,038 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,646 | €42,590 | -€1,055 | -2.4% |
| Other operating charges | 640/8 | €483 | €2,058 | +€1,575 | +326% |
| Gross operating margin | 9900 | €206,951 | €195,705 | -€11,246 | -5.4% |
| Operating profit (loss) | 9901 | €56,302 | €34,498 | -€21,805 | -38.7% |
| Financial income | 75/76B | €20,288 | €17,481 | -€2,806 | -13.8% |
| Recurring financial income | 75 | €20,288 | €17,481 | -€2,806 | -13.8% |
| Financial charges | 65/66B | €10,284 | €11,975 | +€1,691 | +16.4% |
| Recurring financial charges | 65 | €10,284 | €11,975 | +€1,691 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €66,305 | €40,004 | -€26,301 | -39.7% |
| Income taxes | 67/77 | €19,619 | €9,108 | -€10,511 | -53.6% |
| Profit (loss) for the period | 9904 | €46,686 | €30,896 | -€15,790 | -33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €46,686 | €30,896 | -€15,790 | -33.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.