ILTHO: 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.
ILTHO
Largest movements
- Tangible fixed assets +€35,894
up €35,894 (+316%), from €11,344 to €47,237
of which Furniture and vehicles: +€32,663
- Receivables within one year +€29,857
up €29,857 (+136%), from €21,939 to €51,796
of which Trade receivables: +€21,901
- Cash -€12,823
down €12,823 (-10.0%), from €128,154 to €115,331
mainly Investment in fixed assets (net) (-€39,857) and Receivables within one year (-€29,857)
- Reserves +€55,618
up €55,618 (+17.9%), from €311,441 to €367,059
- Other debts +€14,053
up €14,053 (+54.3%), from €25,885 to €39,937
- Debts after one year -€11,898
down €11,898 (-100%), from €11,898 to €0
- Gross operating margin +€10,685
up €10,685 (+18.8%), from €56,716 to €67,401
- Financial income -€5,749
down €5,749 (-16.7%), from €34,500 to €28,751
- Depreciation +€3,432
up €3,432 (+646%), from €531 to €3,963
- Taxes +€2,039
up €2,039 (+10.1%), from €20,171 to €22,211
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 | €400,436 | €454,356 | +€53,920 | +13.5% |
| Fixed assets | 21/28 | €250,344 | €286,237 | +€35,894 | +14.3% |
| Tangible fixed assets | 22/27 | €11,344 | €47,237 | +€35,894 | +316% |
| Furniture and vehicles | 24 | - | €32,663 | +€32,663 | |
| Other tangible fixed assets | 26 | €11,344 | €14,575 | +€3,231 | +28.5% |
| Financial fixed assets | 28 | €239,000 | €239,000 | = | 0.0% |
| Current assets | 29/58 | €150,093 | €168,119 | +€18,026 | +12.0% |
| Amounts receivable within one year | 40/41 | €21,939 | €51,796 | +€29,857 | +136% |
| Trade receivables | 40 | €20,389 | €42,290 | +€21,901 | +107% |
| Other amounts receivable | 41 | €1,550 | €9,506 | +€7,956 | +513% |
| Cash at bank and in hand | 54/58 | €128,154 | €115,331 | -€12,823 | -10.0% |
| Deferred charges and accrued income | 490/1 | - | €992 | +€992 | |
| Total equity and liabilities | 10/49 | €400,436 | €454,356 | +€53,920 | +13.5% |
| Equity | 10/15 | €317,641 | €373,259 | +€55,618 | +17.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €311,441 | €367,059 | +€55,618 | +17.9% |
| Distributable reserves | 133 | €311,441 | €367,059 | +€55,618 | +17.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €82,795 | €81,097 | -€1,699 | -2.1% |
| Amounts payable after more than one year | 17 | €11,898 | €0 | -€11,898 | -100% |
| Financial debts | 170/4 | €11,898 | €0 | -€11,898 | -100% |
| Amounts payable within one year | 42/48 | €67,369 | €79,181 | +€11,811 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €15,205 | €11,898 | -€3,307 | -21.8% |
| Trade debts | 44 | €6,824 | €7,059 | +€236 | +3.5% |
| Suppliers | 440/4 | €6,824 | €7,059 | +€236 | +3.5% |
| Taxes, remuneration and social security | 45 | €19,456 | €20,286 | +€830 | +4.3% |
| Taxes | 450/3 | €17,556 | €18,386 | +€830 | +4.7% |
| Remuneration and social security | 454/9 | €1,900 | €1,900 | = | 0.0% |
| Other amounts payable | 47/48 | €25,885 | €39,937 | +€14,053 | +54.3% |
| Accrued charges and deferred income | 492/3 | €3,528 | €1,916 | -€1,612 | -45.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €531 | €3,963 | +€3,432 | +646% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €56,716 | €67,401 | +€10,685 | +18.8% |
| Operating profit (loss) | 9901 | €55,798 | €63,038 | +€7,240 | +13.0% |
| Financial income | 75/76B | €34,500 | €28,751 | -€5,749 | -16.7% |
| Recurring financial income | 75 | €34,500 | €28,751 | -€5,749 | -16.7% |
| Financial charges | 65/66B | €2,896 | €2,463 | -€433 | -15.0% |
| Recurring financial charges | 65 | €2,896 | €2,463 | -€433 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €87,402 | €89,326 | +€1,924 | +2.2% |
| Income taxes | 67/77 | €20,171 | €22,211 | +€2,039 | +10.1% |
| Profit (loss) for the period | 9904 | €67,231 | €67,116 | -€115 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €67,231 | €67,116 | -€115 | -0.2% |
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 17 October 2026 via checked.be.