I.S.E.: 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.E.
Largest movements
- Cash +€16,144
up €16,144 (+25.1%), from €64,396 to €80,540
mainly Net result for the year (+€14,986) and Trade debts (+€13,056)
- Receivables within one year +€9,617
up €9,617 (+72.6%), from €13,254 to €22,872
of which Trade receivables: +€10,608
- Profit (loss) carried forward +€14,986
up €14,986 (+11.3%), from €133,082 to €148,068
- Trade debts +€13,056
up €13,056 (+830%), from €1,574 to €14,630
- Depreciation -€12,870
down €12,870 (-76.2%), from €16,895 to €4,025
- Gross operating margin -€8,391
down €8,391 (-24.9%), from €33,702 to €25,311
- Taxes +€1,441
up €1,441 (+32.8%), from €4,387 to €5,827
- Other operating charges -€737
down €737 (-58.2%), from €1,266 to €529
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 | €150,153 | €176,636 | +€26,484 | +17.6% |
| Fixed assets | 21/28 | €72,000 | €73,170 | +€1,170 | +1.6% |
| Tangible fixed assets | 22/27 | €72,000 | €73,170 | +€1,170 | +1.6% |
| Land and buildings | 22 | €72,000 | €69,000 | -€3,000 | -4.2% |
| Furniture and vehicles | 24 | - | €4,170 | +€4,170 | |
| Current assets | 29/58 | €78,153 | €103,466 | +€25,313 | +32.4% |
| Amounts receivable within one year | 40/41 | €13,254 | €22,872 | +€9,617 | +72.6% |
| Trade receivables | 40 | €7,570 | €18,177 | +€10,608 | +140% |
| Other amounts receivable | 41 | €5,685 | €4,694 | -€991 | -17.4% |
| Cash at bank and in hand | 54/58 | €64,396 | €80,540 | +€16,144 | +25.1% |
| Deferred charges and accrued income | 490/1 | €502 | €54 | -€448 | -89.2% |
| Total equity and liabilities | 10/49 | €150,153 | €176,636 | +€26,484 | +17.6% |
| Equity | 10/15 | €141,192 | €156,178 | +€14,986 | +10.6% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €133,082 | €148,068 | +€14,986 | +11.3% |
| Amounts payable | 17/49 | €8,961 | €20,458 | +€11,497 | +128% |
| Amounts payable within one year | 42/48 | €8,961 | €20,458 | +€11,497 | +128% |
| Trade debts | 44 | €1,574 | €14,630 | +€13,056 | +830% |
| Suppliers | 440/4 | €1,574 | €14,630 | +€13,056 | +830% |
| Taxes, remuneration and social security | 45 | €7,387 | €5,827 | -€1,559 | -21.1% |
| Taxes | 450/3 | €4,387 | €5,827 | +€1,441 | +32.8% |
| Remuneration and social security | 454/9 | €3,000 | - | -€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,895 | €4,025 | -€12,870 | -76.2% |
| Other operating charges | 640/8 | €1,266 | €529 | -€737 | -58.2% |
| Gross operating margin | 9900 | €33,702 | €25,311 | -€8,391 | -24.9% |
| Operating profit (loss) | 9901 | €15,541 | €20,758 | +€5,217 | +33.6% |
| Financial income | 75/76B | €213 | €243 | +€30 | +14.0% |
| Recurring financial income | 75 | €213 | €243 | +€30 | +14.0% |
| Financial charges | 65/66B | €75 | €187 | +€113 | +151% |
| Recurring financial charges | 65 | €75 | €187 | +€113 | +151% |
| Profit (loss) for the period before taxes | 9903 | €15,680 | €20,814 | +€5,134 | +32.7% |
| Income taxes | 67/77 | €4,387 | €5,827 | +€1,441 | +32.8% |
| Profit (loss) for the period | 9904 | €11,293 | €14,986 | +€3,694 | +32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,293 | €14,986 | +€3,694 | +32.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.