ISAFRAN: 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.
ISAFRAN
Largest movements
- Tangible fixed assets -€36,511
down €36,511 (-3.8%), from €952,490 to €915,979
of which Land and buildings: -€36,511
- Debts after one year -€19,980
down €19,980 (-2.4%), from €845,974 to €825,994
- Profit (loss) carried forward -€12,915
down €12,915 (-2.4%), from -€547,875 to -€560,790
- Gross operating margin +€93,576
up €93,576 (+415%), from €22,522 to €116,098
- Depreciation +€17,667
up €17,667 (+45.6%), from €38,708 to €56,375
- Other operating charges +€9,268
up €9,268 (+310%), from €2,986 to €12,254
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 | €969,220 | €930,448 | -€38,772 | -4.0% |
| Fixed assets | 21/28 | €952,490 | €915,979 | -€36,511 | -3.8% |
| Tangible fixed assets | 22/27 | €952,490 | €915,979 | -€36,511 | -3.8% |
| Land and buildings | 22 | €924,019 | €887,508 | -€36,511 | -4.0% |
| Furniture and vehicles | 24 | €28,471 | €28,471 | = | 0.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €16,730 | €14,469 | -€2,261 | -13.5% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €16,730 | €13,427 | -€3,303 | -19.7% |
| Deferred charges and accrued income | 490/1 | - | €1,042 | +€1,042 | |
| Total equity and liabilities | 10/49 | €969,220 | €930,448 | -€38,772 | -4.0% |
| Equity | 10/15 | €34,555 | €21,640 | -€12,915 | -37.4% |
| Contributions | 10/11 | €572,683 | €572,683 | = | 0.0% |
| Reserves | 13 | €9,748 | €9,748 | = | 0.0% |
| Distributable reserves | 133 | €9,748 | €9,748 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€547,875 | -€560,790 | -€12,915 | -2.4% |
| Amounts payable | 17/49 | €934,664 | €908,808 | -€25,857 | -2.8% |
| Amounts payable after more than one year | 17 | €845,974 | €825,994 | -€19,980 | -2.4% |
| Other amounts payable | 178/9 | €845,974 | €825,994 | -€19,980 | -2.4% |
| Amounts payable within one year | 42/48 | €25,389 | €19,074 | -€6,315 | -24.9% |
| Trade debts | 44 | €25,389 | €19,074 | -€6,315 | -24.9% |
| Suppliers | 440/4 | €25,389 | €19,074 | -€6,315 | -24.9% |
| Accrued charges and deferred income | 492/3 | €63,301 | €63,740 | +€438 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,708 | €56,375 | +€17,667 | +45.6% |
| Other operating charges | 640/8 | €2,986 | €12,254 | +€9,268 | +310% |
| Gross operating margin | 9900 | €22,522 | €116,098 | +€93,576 | +415% |
| Operating profit (loss) | 9901 | -€19,172 | €47,470 | +€66,642 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €61,537 | €60,385 | -€1,152 | -1.9% |
| Recurring financial charges | 65 | €61,537 | €60,385 | -€1,152 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | -€80,709 | -€12,915 | +€67,794 | +84.0% |
| Profit (loss) for the period | 9904 | -€80,709 | -€12,915 | +€67,794 | +84.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€80,709 | -€12,915 | +€67,794 | +84.0% |
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 14 October 2026 via checked.be.