Liliana Ichim: what changed
Liliana Ichim
Largest movements
- Tangible fixed assets -€8,698
down €8,698 (-28.3%), from €30,750 to €22,052
of which Furniture and vehicles: -€9,113
- Receivables within one year -€1,973
down €1,973 (-66.6%), from €2,961 to €987
of which Trade receivables: -€2,065
- Cash -€1,592
down €1,592 (-18.7%), from €8,512 to €6,920
mainly Current portion of long-term debt (-€8,965) and Tax, wage and social debts (-€1,833)
- Current portion of long-term debt -€8,965
down €8,965 (-27.2%), from €32,937 to €23,972
- Tax, wage and social debts -€1,833
no longer reported in 2025 (was €1,833)
- Trade debts -€1,054
down €1,054 (-73.0%), from €1,444 to €390
- Gross operating margin -€15,319
down €15,319 (-49.9%), from €30,727 to €15,408
- Financial charges -€4,264
down €4,264 (-46.7%), from €9,134 to €4,870
- Depreciation -€4,176
down €4,176 (-31.1%), from €13,423 to €9,247
- Taxes -€1,925
down €1,925 (-67.9%), from €2,833 to €909
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €42,776 | €30,526 | -€12,250 | -28.6% |
| Fixed assets | 21/28 | €30,750 | €22,052 | -€8,698 | -28.3% |
| Tangible fixed assets | 22/27 | €30,750 | €22,052 | -€8,698 | -28.3% |
| Plant, machinery and equipment | 23 | - | €415 | +€415 | |
| Furniture and vehicles | 24 | €30,750 | €21,637 | -€9,113 | -29.6% |
| Current assets | 29/58 | €12,026 | €8,473 | -€3,553 | -29.5% |
| Amounts receivable within one year | 40/41 | €2,961 | €987 | -€1,973 | -66.6% |
| Trade receivables | 40 | €2,961 | €896 | -€2,065 | -69.7% |
| Other amounts receivable | 41 | - | €91 | +€91 | |
| Cash at bank and in hand | 54/58 | €8,512 | €6,920 | -€1,592 | -18.7% |
| Deferred charges and accrued income | 490/1 | €553 | €566 | +€13 | +2.3% |
| Total equity and liabilities | 10/49 | €42,776 | €30,526 | -€12,250 | -28.6% |
| Equity | 10/15 | €5,536 | €5,268 | -€268 | -4.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,536 | €4,268 | -€268 | -5.9% |
| Amounts payable | 17/49 | €37,240 | €25,257 | -€11,983 | -32.2% |
| Amounts payable within one year | 42/48 | €37,240 | €25,257 | -€11,983 | -32.2% |
| Current portion of amounts payable after more than one year | 42 | €32,937 | €23,972 | -€8,965 | -27.2% |
| Trade debts | 44 | €1,444 | €390 | -€1,054 | -73.0% |
| Suppliers | 440/4 | €1,444 | €390 | -€1,054 | -73.0% |
| Taxes, remuneration and social security | 45 | €1,833 | - | -€1,833 | |
| Taxes | 450/3 | €1,833 | - | -€1,833 | |
| Other amounts payable | 47/48 | €1,026 | €895 | -€131 | -12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,423 | €9,247 | -€4,176 | -31.1% |
| Other operating charges | 640/8 | €801 | €651 | -€150 | -18.7% |
| Gross operating margin | 9900 | €30,727 | €15,408 | -€15,319 | -49.9% |
| Operating profit (loss) | 9901 | €16,504 | €5,510 | -€10,993 | -66.6% |
| Financial charges | 65/66B | €9,134 | €4,870 | -€4,264 | -46.7% |
| Recurring financial charges | 65 | €9,134 | €4,870 | -€4,264 | -46.7% |
| Profit (loss) for the period before taxes | 9903 | €7,370 | €641 | -€6,729 | -91.3% |
| Income taxes | 67/77 | €2,833 | €909 | -€1,925 | -67.9% |
| Profit (loss) for the period | 9904 | €4,536 | -€268 | -€4,804 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,536 | -€268 | -€4,804 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.