ILU-invest: 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.
ILU-invest
Largest movements
- Tangible fixed assets +€138,396
up €138,396 (+119%), from €116,672 to €255,068
of which Land and buildings: +€139,226
- Receivables after one year -€14,575
down €14,575 (-10.3%), from €141,651 to €127,076
- Cash +€5,469
up €5,469 (+17.5%), from €31,188 to €36,657
mainly Debts after one year (+€126,538) and Depreciation (+€25,713)
- Debts after one year +€126,538
up €126,538 (+166%), from €76,017 to €202,555
- Current portion of long-term debt +€10,520
up €10,520 (+115%), from €9,167 to €19,687
- Other debts -€9,099
down €9,099 (-45.5%), from €19,994 to €10,894
- Taxes -€40,352
down €40,352 (-98.0%), from €41,173 to €821
- Depreciation +€7,224
up €7,224 (+39.1%), from €18,490 to €25,713
- Financial charges -€6,186
down €6,186 (-54.7%), from €11,313 to €5,126
- Gross operating margin -€4,343
down €4,343 (-9.7%), from €44,642 to €40,298
- Other operating charges +€3,339
up €3,339 (+90.8%), from €3,677 to €7,016
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 | €313,702 | €442,469 | +€128,767 | +41.0% |
| Fixed assets | 21/28 | €119,884 | €258,280 | +€138,396 | +115% |
| Tangible fixed assets | 22/27 | €116,672 | €255,068 | +€138,396 | +119% |
| Land and buildings | 22 | €113,067 | €252,293 | +€139,226 | +123% |
| Plant, machinery and equipment | 23 | €3,606 | €2,775 | -€830 | -23.0% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €3,212 | €3,212 | = | 0.0% |
| Current assets | 29/58 | €193,818 | €184,189 | -€9,629 | -5.0% |
| Amounts receivable after more than one year | 29 | €141,651 | €127,076 | -€14,575 | -10.3% |
| Trade receivables | 290 | €141,651 | €127,076 | -€14,575 | -10.3% |
| Amounts receivable within one year | 40/41 | €8,375 | €7,845 | -€530 | -6.3% |
| Trade receivables | 40 | €2,125 | €1,899 | -€226 | -10.6% |
| Other amounts receivable | 41 | €6,250 | €5,945 | -€304 | -4.9% |
| Cash at bank and in hand | 54/58 | €31,188 | €36,657 | +€5,469 | +17.5% |
| Deferred charges and accrued income | 490/1 | €12,604 | €12,611 | +€7 | +0.1% |
| Total equity and liabilities | 10/49 | €313,702 | €442,469 | +€128,767 | +41.0% |
| Equity | 10/15 | €200,659 | €202,281 | +€1,621 | +0.8% |
| Contributions | 10/11 | €6,338 | €6,338 | = | 0.0% |
| Reserves | 13 | €277,659 | €277,659 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €48,045 | €48,045 | = | 0.0% |
| Distributable reserves | 133 | €227,753 | €227,753 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,337 | -€81,716 | +€1,621 | +1.9% |
| Amounts payable | 17/49 | €113,043 | €240,188 | +€127,145 | +112% |
| Amounts payable after more than one year | 17 | €76,017 | €202,555 | +€126,538 | +166% |
| Financial debts | 170/4 | €76,017 | €202,555 | +€126,538 | +166% |
| Amounts payable within one year | 42/48 | €37,026 | €37,633 | +€607 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €9,167 | €19,687 | +€10,520 | +115% |
| Trade debts | 44 | - | €188 | +€188 | |
| Suppliers | 440/4 | - | €188 | +€188 | |
| Advances received on contracts in progress | 46 | €4,800 | €4,800 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €3,066 | €2,064 | -€1,002 | -32.7% |
| Taxes | 450/3 | €3,066 | €2,064 | -€1,002 | -32.7% |
| Other amounts payable | 47/48 | €19,994 | €10,894 | -€9,099 | -45.5% |
| Non-recurring operating income | 76A | €13,909 | - | -€13,909 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,490 | €25,713 | +€7,224 | +39.1% |
| Other operating charges | 640/8 | €3,677 | €7,016 | +€3,339 | +90.8% |
| Gross operating margin | 9900 | €44,642 | €40,298 | -€4,343 | -9.7% |
| Operating profit (loss) | 9901 | €22,475 | €7,569 | -€14,906 | -66.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €11,313 | €5,126 | -€6,186 | -54.7% |
| Recurring financial charges | 65 | €11,313 | €5,126 | -€6,186 | -54.7% |
| Profit (loss) for the period before taxes | 9903 | €11,163 | €2,443 | -€8,720 | -78.1% |
| Income taxes | 67/77 | €41,173 | €821 | -€40,352 | -98.0% |
| Profit (loss) for the period | 9904 | -€30,010 | €1,621 | +€31,632 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,010 | €1,621 | +€31,632 |
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 31 October 2026 via checked.be.