I.S.A.D.: 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.
I.S.A.D.
Largest movements
- Receivables within one year +€11,719
up €11,719 (+509%), from €2,302 to €14,021
of which Other amounts receivable: +€11,539
- Deferred charges and accrued income -€5,688
down €5,688 (-99.3%), from €5,727 to €39
- Cash -€5,563
no longer reported in 2025 (was €5,563)
mainly Receivables within one year (-€11,719) and Tax, wage and social debts (-€4,755)
- Tangible fixed assets -€4,648
down €4,648 (-98.9%), from €4,700 to €52
- Tax, wage and social debts -€4,755
down €4,755 (-42.8%), from €11,118 to €6,363
of which Taxes: -€4,783
- Profit (loss) carried forward +€939
up €939, from -€17 to €921
- Trade debts -€387
no longer reported in 2025 (was €387)
- Gross operating margin -€6,617
down €6,617 (-60.1%), from €11,006 to €4,390
- Depreciation -€5,098
down €5,098 (-96.1%), from €5,305 to €206
- Taxes -€1,758
down €1,758 (-45.2%), from €3,885 to €2,127
- Financial charges +€255
up €255 (+121%), from €212 to €467
- Financial income +€167
up €167 (+375%), from €45 to €212
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 | €18,292 | €14,113 | -€4,180 | -22.8% |
| Fixed assets | 21/28 | €4,700 | €52 | -€4,648 | -98.9% |
| Tangible fixed assets | 22/27 | €4,700 | €52 | -€4,648 | -98.9% |
| Furniture and vehicles | 24 | €4,700 | €52 | -€4,648 | -98.9% |
| Current assets | 29/58 | €13,592 | €14,061 | +€468 | +3.4% |
| Amounts receivable within one year | 40/41 | €2,302 | €14,021 | +€11,719 | +509% |
| Trade receivables | 40 | €170 | €350 | +€180 | +106% |
| Other amounts receivable | 41 | €2,133 | €13,672 | +€11,539 | +541% |
| Cash at bank and in hand | 54/58 | €5,563 | - | -€5,563 | |
| Deferred charges and accrued income | 490/1 | €5,727 | €39 | -€5,688 | -99.3% |
| Total equity and liabilities | 10/49 | €18,292 | €14,113 | -€4,180 | -22.8% |
| Equity | 10/15 | €6,787 | €7,726 | +€939 | +13.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €605 | €605 | = | 0.0% |
| Distributable reserves | 133 | €605 | €605 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17 | €921 | +€939 | |
| Amounts payable | 17/49 | €11,505 | €6,387 | -€5,118 | -44.5% |
| Amounts payable within one year | 42/48 | €11,505 | €6,387 | -€5,118 | -44.5% |
| Financial debts | 43 | - | €24 | +€24 | |
| Credit institutions | 430/8 | - | €24 | +€24 | |
| Trade debts | 44 | €387 | - | -€387 | |
| Suppliers | 440/4 | €387 | - | -€387 | |
| Taxes, remuneration and social security | 45 | €11,118 | €6,363 | -€4,755 | -42.8% |
| Taxes | 450/3 | €11,089 | €6,307 | -€4,783 | -43.1% |
| Remuneration and social security | 454/9 | €28 | €57 | +€28 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,305 | €206 | -€5,098 | -96.1% |
| Other operating charges | 640/8 | €262 | €420 | +€159 | +60.7% |
| Non-recurring operating charges | 66A | €85 | €441 | +€356 | +419% |
| Gross operating margin | 9900 | €11,006 | €4,390 | -€6,617 | -60.1% |
| Operating profit (loss) | 9901 | €5,355 | €3,321 | -€2,034 | -38.0% |
| Financial income | 75/76B | €45 | €212 | +€167 | +375% |
| Recurring financial income | 75 | €45 | €212 | +€167 | +375% |
| Financial charges | 65/66B | €212 | €467 | +€255 | +121% |
| Recurring financial charges | 65 | €212 | €467 | +€255 | +121% |
| Profit (loss) for the period before taxes | 9903 | €5,188 | €3,066 | -€2,122 | -40.9% |
| Income taxes | 67/77 | €3,885 | €2,127 | -€1,758 | -45.2% |
| Profit (loss) for the period | 9904 | €1,303 | €939 | -€364 | -27.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,303 | €939 | -€364 | -27.9% |
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 21 October 2026 via checked.be.