AISELA 10: 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.
AISELA 10
Largest movements
- Cash -€636,661
down €636,661 (-81.8%), from €778,144 to €141,484
mainly Current portion of long-term debt (-€3.3m) and Contributions, distributions and other (-€1.8m)
- Receivables within one year +€283,848
up €283,848 (+691%), from €41,051 to €324,899
of which Other amounts receivable: +€309,971
- Short-term financial debts +€4.6m
new in 2025: €4.6m
- Current portion of long-term debt -€3.3m
down €3.3m (-100%), from €3.3m to €0
- Contributions -€1.8m
down €1.8m (-37.5%), from €4.7m to €2.9m
- Gross operating margin -€89,888
down €89,888 (-13.1%), from €685,424 to €595,536
- Other operating charges +€53,001
up €53,001 (+25.0%), from €211,652 to €264,653
- Financial charges -€44,531
down €44,531 (-23.5%), from €189,757 to €145,226
of which Financial charges: -€44,531
- Taxes -€17,330
down €17,330 (-59.3%), from €29,243 to €11,913
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 | €7,300,232 | €6,847,107 | -€453,125 | -6.2% |
| Fixed assets | 21/28 | €6,420,000 | €6,376,242 | -€43,758 | -0.7% |
| Tangible fixed assets | 22/27 | €6,420,000 | €6,376,242 | -€43,758 | -0.7% |
| Land and buildings | 22 | €6,420,000 | €6,376,242 | -€43,758 | -0.7% |
| Current assets | 29/58 | €880,232 | €470,864 | -€409,367 | -46.5% |
| Amounts receivable within one year | 40/41 | €41,051 | €324,899 | +€283,848 | +691% |
| Trade receivables | 40 | €41,051 | €14,927 | -€26,124 | -63.6% |
| Other amounts receivable | 41 | - | €309,971 | +€309,971 | |
| Cash at bank and in hand | 54/58 | €778,144 | €141,484 | -€636,661 | -81.8% |
| Deferred charges and accrued income | 490/1 | €61,036 | €4,482 | -€56,554 | -92.7% |
| Total equity and liabilities | 10/49 | €7,300,232 | €6,847,107 | -€453,125 | -6.2% |
| Equity | 10/15 | €3,921,189 | €2,145,923 | -€1.8m | -45.3% |
| Contributions | 10/11 | €4,671,551 | €2,921,551 | -€1.8m | -37.5% |
| Reserves | 13 | €14,503 | €14,503 | = | 0.0% |
| Distributable reserves | 133 | €14,503 | €14,503 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€764,865 | -€790,131 | -€25,265 | -3.3% |
| Amounts payable | 17/49 | €3,379,043 | €4,701,183 | +€1.3m | +39.1% |
| Amounts payable after more than one year | 17 | €0 | €19,798 | +€19,798 | |
| Other amounts payable | 178/9 | €0 | €19,798 | +€19,798 | |
| Amounts payable within one year | 42/48 | €3,341,771 | €4,678,725 | +€1.3m | +40.0% |
| Current portion of amounts payable after more than one year | 42 | €3,267,038 | €0 | -€3.3m | -100% |
| Financial debts | 43 | - | €4,550,000 | +€4.6m | |
| Credit institutions | 430/8 | - | €4,550,000 | +€4.6m | |
| Trade debts | 44 | €58,586 | €70,183 | +€11,597 | +19.8% |
| Suppliers | 440/4 | €58,586 | €70,183 | +€11,597 | +19.8% |
| Bills of exchange payable | 441 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €12,397 | €0 | -€12,397 | -100% |
| Taxes | 450/3 | €12,397 | €0 | -€12,397 | -100% |
| Other amounts payable | 47/48 | €3,750 | €58,542 | +€54,792 | +1,461% |
| Accrued charges and deferred income | 492/3 | €37,272 | €2,661 | -€34,611 | -92.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €198,967 | €199,009 | +€43 | 0.0% |
| Other operating charges | 640/8 | €211,652 | €264,653 | +€53,001 | +25.0% |
| Non-recurring operating charges | 66A | €821,685 | €0 | -€821,685 | -100% |
| Gross operating margin | 9900 | €685,424 | €595,536 | -€89,888 | -13.1% |
| Operating profit (loss) | 9901 | -€546,880 | €131,873 | +€678,754 | |
| Financial charges | 65/66B | €189,757 | €145,226 | -€44,531 | -23.5% |
| Recurring financial charges | 65 | €189,757 | €145,226 | -€44,531 | -23.5% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€736,637 | -€13,352 | +€723,284 | +98.2% |
| Income taxes | 67/77 | €29,243 | €11,913 | -€17,330 | -59.3% |
| Profit (loss) for the period | 9904 | -€765,880 | -€25,265 | +€740,615 | +96.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€765,880 | -€25,265 | +€740,615 | +96.7% |
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 22 October 2026 via checked.be.