Ive Schelfhout: what changed
Two fiscal 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.
Ive Schelfhout
Largest movements
- Tangible fixed assets -€1,352
down €1,352 (-18.1%), from €7,485 to €6,133
of which Plant, machinery and equipment: -€1,352
- Deferred charges and accrued income +€1,256
up €1,256 (+154.4%), from €814 to €2,070
- Cash +€1,149
up €1,149 (+215.6%), from €533 to €1,682
mainly Net result for the year (+€1,359) and Depreciation (+€1,352)
- Receivables within one year -€502
down €502 (-1.4%), from €36,763 to €36,260
of which Trade receivables: -€1,132
- Reserves +€1,359
up €1,359 (+3.7%), from €37,119 to €38,479
- Trade debts -€956
down €956 (-70.7%), from €1,352 to €397
- Other operating charges -€351
down €351 (-15.2%), from €2,319 to €1,967
- Financial income +€262
up €262 (+17.3%), from €1,516 to €1,778
- Gross operating margin -€250
down €250 (-5.7%), from €4,363 to €4,114
- Taxes +€146
up €146 (+15.8%), from €926 to €1,072
- Financial charges +€56
up €56 (+66.7%), from €84 to €140
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.
Cash bridge derived
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 | €45,594 | €46,145 | +€550 | +1.2% |
| Fixed assets | 21/28 | €7,485 | €6,133 | -€1,352 | -18.1% |
| Tangible fixed assets | 22/27 | €7,485 | €6,133 | -€1,352 | -18.1% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €7,485 | €6,133 | -€1,352 | -18.1% |
| Current assets | 29/58 | €38,109 | €40,012 | +€1,903 | +5.0% |
| Amounts receivable within one year | 40/41 | €36,763 | €36,260 | -€502 | -1.4% |
| Trade receivables | 40 | €1,132 | - | -€1,132 | |
| Other amounts receivable | 41 | €35,631 | €36,260 | +€630 | +1.8% |
| Cash at bank and in hand | 54/58 | €533 | €1,682 | +€1,149 | +215.6% |
| Deferred charges and accrued income | 490/1 | €814 | €2,070 | +€1,256 | +154.4% |
| Total equity and liabilities | 10/49 | €45,594 | €46,145 | +€550 | +1.2% |
| Equity | 10/15 | €43,316 | €44,676 | +€1,359 | +3.1% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €37,119 | €38,479 | +€1,359 | +3.7% |
| Distributable reserves | 133 | €37,119 | €38,479 | +€1,359 | +3.7% |
| Amounts payable | 17/49 | €2,278 | €1,469 | -€809 | -35.5% |
| Amounts payable within one year | 42/48 | €2,278 | €1,469 | -€809 | -35.5% |
| Trade debts | 44 | €1,352 | €397 | -€956 | -70.7% |
| Suppliers | 440/4 | €1,352 | €397 | -€956 | -70.7% |
| Taxes, remuneration and social security | 45 | €926 | €1,072 | +€147 | +15.8% |
| Taxes | 450/3 | €926 | €1,072 | +€147 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,352 | €1,352 | = | 0.0% |
| Other operating charges | 640/8 | €2,319 | €1,967 | -€351 | -15.2% |
| Gross operating margin | 9900 | €4,363 | €4,114 | -€250 | -5.7% |
| Operating profit (loss) | 9901 | €692 | €794 | +€102 | +14.7% |
| Financial income | 75/76B | €1,516 | €1,778 | +€262 | +17.3% |
| Recurring financial income | 75 | €1,516 | €1,778 | +€262 | +17.3% |
| Financial charges | 65/66B | €84 | €140 | +€56 | +66.7% |
| Recurring financial charges | 65 | €84 | €140 | +€56 | +66.7% |
| Profit (loss) for the period before taxes | 9903 | €2,124 | €2,432 | +€308 | +14.5% |
| Income taxes | 67/77 | €926 | €1,072 | +€146 | +15.8% |
| Profit (loss) for the period | 9904 | €1,198 | €1,359 | +€161 | +13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,198 | €1,359 | +€161 | +13.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.