I-Sea: 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-Sea
Largest movements
- Tangible fixed assets +€103,309
up €103,309 (+42.7%), from €242,163 to €345,472
of which Land and buildings: +€68,240
- Receivables within one year +€24,845
up €24,845 (+115%), from €21,609 to €46,454
of which Other amounts receivable: +€14,509
- Intangible fixed assets -€15,157
down €15,157 (-90.9%), from €16,683 to €1,526
- Cash -€6,260
down €6,260 (-26.1%), from €24,019 to €17,759
mainly Investment in fixed assets (net) (-€150,414) and Receivables within one year (-€24,845)
- Trade debts +€57,865
up €57,865 (+320%), from €18,093 to €75,957
- Debts after one year +€49,000
up €49,000 (+129%), from €38,000 to €87,000
of which Financial debts: +€49,000
- Other debts +€6,404
up €6,404 (+15.2%), from €42,164 to €48,568
- Current portion of long-term debt -€4,419
down €4,419 (-24.0%), from €18,419 to €14,000
- Other operating charges +€2,630
up €2,630 (+54.8%), from €4,795 to €7,424
- Taxes -€2,258
down €2,258 (-60.0%), from €3,761 to €1,503
- Depreciation +€1,533
up €1,533 (+2.5%), from €60,729 to €62,262
- Gross operating margin +€1,488
up €1,488 (+2.0%), from €74,734 to €76,222
- Financial charges +€1,006
up €1,006 (+36.7%), from €2,741 to €3,747
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €306,756 | €413,532 | +€106,776 | +34.8% |
| Fixed assets | 21/28 | €258,847 | €346,999 | +€88,152 | +34.1% |
| Intangible fixed assets | 21 | €16,683 | €1,526 | -€15,157 | -90.9% |
| Tangible fixed assets | 22/27 | €242,163 | €345,472 | +€103,309 | +42.7% |
| Land and buildings | 22 | €161,790 | €230,030 | +€68,240 | +42.2% |
| Plant, machinery and equipment | 23 | €22,484 | €16,837 | -€5,647 | -25.1% |
| Furniture and vehicles | 24 | €47,724 | €91,796 | +€44,072 | +92.3% |
| Other tangible fixed assets | 26 | €10,165 | €6,809 | -€3,356 | -33.0% |
| Current assets | 29/58 | €47,909 | €66,534 | +€18,625 | +38.9% |
| Amounts receivable within one year | 40/41 | €21,609 | €46,454 | +€24,845 | +115% |
| Trade receivables | 40 | €4,567 | €14,903 | +€10,337 | +226% |
| Other amounts receivable | 41 | €17,042 | €31,551 | +€14,509 | +85.1% |
| Cash at bank and in hand | 54/58 | €24,019 | €17,759 | -€6,260 | -26.1% |
| Deferred charges and accrued income | 490/1 | €2,282 | €2,321 | +€39 | +1.7% |
| Total equity and liabilities | 10/49 | €306,756 | €413,532 | +€106,776 | +34.8% |
| Equity | 10/15 | €179,848 | €181,134 | +€1,286 | +0.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €153,108 | €153,108 | = | 0.0% |
| Distributable reserves | 133 | €153,108 | €153,108 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,140 | €9,426 | +€1,286 | +15.8% |
| Amounts payable | 17/49 | €126,908 | €232,399 | +€105,490 | +83.1% |
| Amounts payable after more than one year | 17 | €38,000 | €87,000 | +€49,000 | +129% |
| Financial debts | 170/4 | €0 | €49,000 | +€49,000 | |
| Other amounts payable | 178/9 | €38,000 | €38,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €85,168 | €143,119 | +€57,950 | +68.0% |
| Current portion of amounts payable after more than one year | 42 | €18,419 | €14,000 | -€4,419 | -24.0% |
| Trade debts | 44 | €18,093 | €75,957 | +€57,865 | +320% |
| Suppliers | 440/4 | €18,093 | €75,957 | +€57,865 | +320% |
| Advances received on contracts in progress | 46 | - | €1,271 | +€1,271 | |
| Taxes, remuneration and social security | 45 | €6,493 | €3,323 | -€3,170 | -48.8% |
| Taxes | 450/3 | €6,493 | €3,323 | -€3,170 | -48.8% |
| Other amounts payable | 47/48 | €42,164 | €48,568 | +€6,404 | +15.2% |
| Accrued charges and deferred income | 492/3 | €3,740 | €2,280 | -€1,460 | -39.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,729 | €62,262 | +€1,533 | +2.5% |
| Other operating charges | 640/8 | €4,795 | €7,424 | +€2,630 | +54.8% |
| Gross operating margin | 9900 | €74,734 | €76,222 | +€1,488 | +2.0% |
| Operating profit (loss) | 9901 | €9,210 | €6,536 | -€2,674 | -29.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,741 | €3,747 | +€1,006 | +36.7% |
| Recurring financial charges | 65 | €2,741 | €3,747 | +€1,006 | +36.7% |
| Profit (loss) for the period before taxes | 9903 | €6,468 | €2,789 | -€3,680 | -56.9% |
| Income taxes | 67/77 | €3,761 | €1,503 | -€2,258 | -60.0% |
| Profit (loss) for the period | 9904 | €2,707 | €1,286 | -€1,421 | -52.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,707 | €1,286 | -€1,421 | -52.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.