ISADAV: 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.
ISADAV
Largest movements
- Cash +€33,240
up €33,240 (+247%), from €13,459 to €46,699
mainly Net result for the year (+€34,318) and Depreciation (+€8,434)
- Tangible fixed assets -€3,519
down €3,519 (-13.2%), from €26,612 to €23,093
of which Other tangible fixed assets: -€2,497
- Receivables within one year +€1,939
up €1,939 (+43.3%), from €4,475 to €6,414
- Profit (loss) carried forward +€32,652
up €32,652 (+130%), from €25,123 to €57,775
- Tax, wage and social debts -€1,941
down €1,941 (-25.8%), from €7,521 to €5,580
- Gross operating margin +€23,942
up €23,942 (+76.5%), from €31,279 to €55,222
- Depreciation +€6,034
up €6,034 (+251%), from €2,399 to €8,434
- Taxes +€4,459
up €4,459 (+59.3%), from €7,521 to €11,980
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 | €44,708 | €76,215 | +€31,508 | +70.5% |
| Fixed assets | 21/28 | €26,612 | €23,093 | -€3,519 | -13.2% |
| Tangible fixed assets | 22/27 | €26,612 | €23,093 | -€3,519 | -13.2% |
| Furniture and vehicles | 24 | €19,352 | €18,330 | -€1,022 | -5.3% |
| Other tangible fixed assets | 26 | €7,260 | €4,762 | -€2,497 | -34.4% |
| Current assets | 29/58 | €18,096 | €53,123 | +€35,027 | +194% |
| Amounts receivable within one year | 40/41 | €4,475 | €6,414 | +€1,939 | +43.3% |
| Trade receivables | 40 | €4,475 | €6,414 | +€1,939 | +43.3% |
| Cash at bank and in hand | 54/58 | €13,459 | €46,699 | +€33,240 | +247% |
| Deferred charges and accrued income | 490/1 | €162 | €10 | -€152 | -93.7% |
| Total equity and liabilities | 10/49 | €44,708 | €76,215 | +€31,508 | +70.5% |
| Equity | 10/15 | €28,123 | €60,775 | +€32,652 | +116% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,123 | €57,775 | +€32,652 | +130% |
| Amounts payable | 17/49 | €16,585 | €15,440 | -€1,145 | -6.9% |
| Amounts payable within one year | 42/48 | €16,585 | €15,440 | -€1,145 | -6.9% |
| Trade debts | 44 | - | €99 | +€99 | |
| Suppliers | 440/4 | - | €99 | +€99 | |
| Taxes, remuneration and social security | 45 | €7,521 | €5,580 | -€1,941 | -25.8% |
| Taxes | 450/3 | €7,521 | €5,580 | -€1,941 | -25.8% |
| Other amounts payable | 47/48 | €9,063 | €9,761 | +€697 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,399 | €8,434 | +€6,034 | +251% |
| Other operating charges | 640/8 | €459 | €400 | -€60 | -13.0% |
| Gross operating margin | 9900 | €31,279 | €55,222 | +€23,942 | +76.5% |
| Operating profit (loss) | 9901 | €28,421 | €46,388 | +€17,968 | +63.2% |
| Financial charges | 65/66B | €89 | €90 | +€2 | +1.7% |
| Recurring financial charges | 65 | €89 | €90 | +€2 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €28,332 | €46,298 | +€17,966 | +63.4% |
| Income taxes | 67/77 | €7,521 | €11,980 | +€4,459 | +59.3% |
| Profit (loss) for the period | 9904 | €20,811 | €34,318 | +€13,507 | +64.9% |
| Profit (loss) for the period to be appropriated | 9905 | €20,811 | €34,318 | +€13,507 | +64.9% |
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 24 October 2026 via checked.be.