ILTO: 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.
ILTO
Largest movements
- Cash +€718,230
up €718,230 (+656%), from €109,409 to €827,639
mainly Net result for the year (+€509,082) and Tax, wage and social debts (+€189,006)
- Tangible fixed assets -€154,852
down €154,852 (-13.2%), from €1.2m to €1.0m
of which Land and buildings: -€196,886
- Reserves +€509,082
up €509,082 (+65.9%), from €771,973 to €1.3m
- Tax, wage and social debts +€189,006
up €189,006 (+362%), from €52,191 to €241,197
- Debts after one year -€119,619
down €119,619 (-21.0%), from €570,536 to €450,917
- Gross operating margin +€527,467
up €527,467 (+186%), from €283,730 to €811,197
- Taxes +€197,516
up €197,516 (+363%), from €54,421 to €251,937
- Other operating charges -€36,916
down €36,916 (-81.2%), from €45,445 to €8,529
- Depreciation -€18,352
down €18,352 (-43.3%), from €42,427 to €24,075
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 | €1,512,978 | €2,086,718 | +€573,740 | +37.9% |
| Fixed assets | 21/28 | €1,401,153 | €1,255,998 | -€145,155 | -10.4% |
| Tangible fixed assets | 22/27 | €1,176,153 | €1,021,302 | -€154,852 | -13.2% |
| Land and buildings | 22 | €1,152,813 | €955,927 | -€196,886 | -17.1% |
| Furniture and vehicles | 24 | €23,341 | €65,375 | +€42,034 | +180% |
| Financial fixed assets | 28 | €225,000 | €234,696 | +€9,696 | +4.3% |
| Current assets | 29/58 | €111,825 | €830,720 | +€718,895 | +643% |
| Amounts receivable within one year | 40/41 | €0 | €1,225 | +€1,225 | |
| Trade receivables | 40 | €0 | €1,225 | +€1,225 | |
| Cash at bank and in hand | 54/58 | €109,409 | €827,639 | +€718,230 | +656% |
| Deferred charges and accrued income | 490/1 | €2,416 | €1,856 | -€560 | -23.2% |
| Total equity and liabilities | 10/49 | €1,512,978 | €2,086,718 | +€573,740 | +37.9% |
| Equity | 10/15 | €790,573 | €1,299,655 | +€509,082 | +64.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €771,973 | €1,281,055 | +€509,082 | +65.9% |
| Distributable reserves | 133 | €771,973 | €1,281,055 | +€509,082 | +65.9% |
| Amounts payable | 17/49 | €722,405 | €787,063 | +€64,658 | +9.0% |
| Amounts payable after more than one year | 17 | €570,536 | €450,917 | -€119,619 | -21.0% |
| Financial debts | 170/4 | €570,536 | €450,917 | -€119,619 | -21.0% |
| Amounts payable within one year | 42/48 | €151,869 | €336,146 | +€184,277 | +121% |
| Current portion of amounts payable after more than one year | 42 | €57,397 | €51,289 | -€6,108 | -10.6% |
| Trade debts | 44 | €2,249 | €3,680 | +€1,432 | +63.7% |
| Suppliers | 440/4 | €2,249 | €3,680 | +€1,432 | +63.7% |
| Taxes, remuneration and social security | 45 | €52,191 | €241,197 | +€189,006 | +362% |
| Taxes | 450/3 | €52,191 | €241,197 | +€189,006 | +362% |
| Other amounts payable | 47/48 | €40,033 | €39,980 | -€53 | -0.1% |
| Non-recurring operating income | 76A | €0 | €2,337 | +€2,337 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,427 | €24,075 | -€18,352 | -43.3% |
| Other operating charges | 640/8 | €45,445 | €8,529 | -€36,916 | -81.2% |
| Gross operating margin | 9900 | €283,730 | €811,197 | +€527,467 | +186% |
| Operating profit (loss) | 9901 | €195,858 | €778,593 | +€582,735 | +298% |
| Financial income | 75/76B | €382 | €116 | -€266 | -69.6% |
| Recurring financial income | 75 | €382 | €116 | -€266 | -69.6% |
| Financial charges | 65/66B | €15,288 | €17,691 | +€2,403 | +15.7% |
| Recurring financial charges | 65 | €15,288 | €17,691 | +€2,403 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €180,953 | €761,018 | +€580,065 | +321% |
| Income taxes | 67/77 | €54,421 | €251,937 | +€197,516 | +363% |
| Profit (loss) for the period | 9904 | €126,532 | €509,082 | +€382,549 | +302% |
| Profit (loss) for the period to be appropriated | 9905 | €126,532 | €509,082 | +€382,549 | +302% |
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 13 October 2026 via checked.be.