ILSE SCHELFHOUT: 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 SCHELFHOUT
Largest movements
- Cash +€33,125
up €33,125 (+22.1%), from €149,756 to €182,881
mainly Net result for the year (+€27,138) and Tax, wage and social debts (+€5,832)
- Receivables within one year +€4,473
up €4,473 (+58.3%), from €7,671 to €12,143
of which Trade receivables: +€8,460
- Reserves +€27,138
up €27,138 (+17.8%), from €152,875 to €180,013
- Tax, wage and social debts +€5,832
up €5,832 (+218%), from €2,672 to €8,504
- Trade debts +€3,011
new in 2025: €3,011
- Gross operating margin -€42,082
down €42,082 (-52.0%), from €80,886 to €38,803
- Taxes -€8,871
down €8,871 (-55.3%), from €16,027 to €7,156
- Financial charges +€1,556
new in 2025: €1,556
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 | €160,348 | €197,357 | +€37,009 | +23.1% |
| Fixed assets | 21/28 | €2,921 | €2,332 | -€589 | -20.2% |
| Tangible fixed assets | 22/27 | €2,921 | €2,332 | -€589 | -20.2% |
| Plant, machinery and equipment | 23 | €1,186 | €476 | -€710 | -59.9% |
| Furniture and vehicles | 24 | €1,735 | €1,856 | +€121 | +7.0% |
| Current assets | 29/58 | €157,427 | €195,025 | +€37,598 | +23.9% |
| Amounts receivable within one year | 40/41 | €7,671 | €12,143 | +€4,473 | +58.3% |
| Trade receivables | 40 | €3,210 | €11,670 | +€8,460 | +264% |
| Other amounts receivable | 41 | €4,461 | €473 | -€3,988 | -89.4% |
| Cash at bank and in hand | 54/58 | €149,756 | €182,881 | +€33,125 | +22.1% |
| Total equity and liabilities | 10/49 | €160,348 | €197,357 | +€37,009 | +23.1% |
| Equity | 10/15 | €155,875 | €183,013 | +€27,138 | +17.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €152,875 | €180,013 | +€27,138 | +17.8% |
| Distributable reserves | 133 | €152,875 | €180,013 | +€27,138 | +17.8% |
| Amounts payable | 17/49 | €4,472 | €14,343 | +€9,871 | +221% |
| Amounts payable within one year | 42/48 | €4,472 | €14,343 | +€9,871 | +221% |
| Trade debts | 44 | - | €3,011 | +€3,011 | |
| Suppliers | 440/4 | - | €3,011 | +€3,011 | |
| Taxes, remuneration and social security | 45 | €2,672 | €8,504 | +€5,832 | +218% |
| Taxes | 450/3 | €2,672 | €8,504 | +€5,832 | +218% |
| Other amounts payable | 47/48 | €1,800 | €2,828 | +€1,027 | +57.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €692 | €753 | +€61 | +8.8% |
| Other operating charges | 640/8 | €64 | €465 | +€402 | +630% |
| Non-recurring operating charges | 66A | - | €1,735 | +€1,735 | |
| Gross operating margin | 9900 | €80,886 | €38,803 | -€42,082 | -52.0% |
| Operating profit (loss) | 9901 | €80,130 | €35,850 | -€44,280 | -55.3% |
| Financial charges | 65/66B | - | €1,556 | +€1,556 | |
| Recurring financial charges | 65 | - | €1,556 | +€1,556 | |
| Profit (loss) for the period before taxes | 9903 | €80,130 | €34,294 | -€45,835 | -57.2% |
| Income taxes | 67/77 | €16,027 | €7,156 | -€8,871 | -55.3% |
| Profit (loss) for the period | 9904 | €64,103 | €27,138 | -€36,965 | -57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €64,103 | €27,138 | -€36,965 | -57.7% |
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 14 October 2026 via checked.be.