ISA: what changed
Two fiscal 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.
ISA
Largest movements
- Cash +€114,965
up €114,965 (+202.7%), from €56,708 to €171,673
mainly Receivables within one year (+€104,326) and Depreciation (+€17,806)
- Receivables within one year -€104,326
down €104,326 (-99.9%), from €104,431 to €105
- Tangible fixed assets -€17,806
down €17,806 (-10.8%), from €164,525 to €146,718
of which Land and buildings: -€14,722
- Profit (loss) carried forward -€3,942
new in 2025: -€3,942
- Financial income -€5,962
down €5,962 (-94.4%), from €6,313 to €350
- Gross operating margin -€4,015
down €4,015 (-16.9%), from €23,765 to €19,749
- Taxes -€2,934
no longer reported in 2025 (was €2,934)
- Depreciation +€1,191
up €1,191 (+7.2%), from €16,616 to €17,806
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.
Cash bridge derived
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 | €328,826 | €321,980 | -€6,846 | -2.1% |
| Fixed assets | 21/28 | €164,773 | €146,966 | -€17,806 | -10.8% |
| Tangible fixed assets | 22/27 | €164,525 | €146,718 | -€17,806 | -10.8% |
| Land and buildings | 22 | €150,738 | €136,016 | -€14,722 | -9.8% |
| Plant, machinery and equipment | 23 | €13,787 | €10,703 | -€3,084 | -22.4% |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €164,054 | €175,014 | +€10,960 | +6.7% |
| Amounts receivable within one year | 40/41 | €104,431 | €105 | -€104,326 | -99.9% |
| Other amounts receivable | 41 | €104,431 | €105 | -€104,326 | -99.9% |
| Cash at bank and in hand | 54/58 | €56,708 | €171,673 | +€114,965 | +202.7% |
| Deferred charges and accrued income | 490/1 | €2,914 | €3,236 | +€322 | +11.0% |
| Total equity and liabilities | 10/49 | €328,826 | €321,980 | -€6,846 | -2.1% |
| Equity | 10/15 | €325,135 | €321,194 | -€3,942 | -1.2% |
| Contributions | 10/11 | €220,625 | €220,625 | = | 0.0% |
| Capital | 10 | €220,625 | €220,625 | = | 0.0% |
| Issued capital | 100 | €220,625 | €220,625 | = | 0.0% |
| Revaluation surpluses | 12 | €26,844 | €25,000 | -€1,844 | -6.9% |
| Reserves | 13 | €77,666 | €79,510 | +€1,844 | +2.4% |
| Non-distributable reserves | 130/1 | €10,600 | €10,600 | = | 0.0% |
| Legal reserve | 130 | €10,600 | €10,600 | = | 0.0% |
| Distributable reserves | 133 | €67,066 | €68,910 | +€1,844 | +2.7% |
| Profit (loss) carried forward | 14 | - | -€3,942 | -€3,942 | |
| Amounts payable | 17/49 | €3,691 | €787 | -€2,905 | -78.7% |
| Amounts payable within one year | 42/48 | €3,691 | €787 | -€2,905 | -78.7% |
| Trade debts | 44 | - | €787 | +€787 | |
| Suppliers | 440/4 | - | €787 | +€787 | |
| Taxes, remuneration and social security | 45 | €2,896 | - | -€2,896 | |
| Taxes | 450/3 | €2,896 | - | -€2,896 | |
| Other amounts payable | 47/48 | €796 | - | -€796 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,616 | €17,806 | +€1,191 | +7.2% |
| Other operating charges | 640/8 | €5,940 | €6,115 | +€175 | +3.0% |
| Gross operating margin | 9900 | €23,765 | €19,749 | -€4,015 | -16.9% |
| Operating profit (loss) | 9901 | €1,209 | -€4,172 | -€5,381 | |
| Financial income | 75/76B | €6,313 | €350 | -€5,962 | -94.4% |
| Recurring financial income | 75 | €6,313 | €350 | -€5,962 | -94.4% |
| Financial charges | 65/66B | €119 | €120 | +€2 | +1.3% |
| Recurring financial charges | 65 | €119 | €120 | +€2 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | €7,404 | -€3,942 | -€11,345 | |
| Income taxes | 67/77 | €2,934 | - | -€2,934 | |
| Profit (loss) for the period | 9904 | €4,470 | -€3,942 | -€8,412 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,470 | -€3,942 | -€8,412 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.