ISALYS GROUP: 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.
What changed
ISALYS GROUP
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€232,423
2024 · €177,746+€54,677
Equity
€13.9m
2024 · €13.8m+€82,423
Cash
€52,875
2024 · €23,909+€28,967
Balance sheet total
€14.9m
2024 · €14.4m+€528,506
Largest movements
Assets
- Receivables within one year +€485,390
up €485,390 (+116%), from €417,308 to €902,697
of which Trade receivables: +€478,248
Equity and liabilities
- Trade debts +€395,554
up €395,554 (+159%), from €248,307 to €643,860
Income statement
- Gross operating margin +€330,354
up €330,354 (+1,282%), from €25,770 to €356,124
- Staff costs +€198,880
up €198,880 (+259%), from €76,874 to €275,754
- Depreciation -€13,354
down €13,354 (-60.2%), from €22,168 to €8,813
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.
Result 2024
€177,746
Gross operating margin
+€330,354
Staff costs
-€198,880
Depreciation
+€13,354
Other operating charges
-€1,894
Other operating items
-€87,020
Financial income
+€150
Financial charges
-€1,162
Taxes
-€225
Result 2025
€232,423
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€201,924
Investment
-€22,958
Financing
-€150,000
Cash 2024
€23,909
From operations (derived)
+€201,924
Net result for the year
+€232,423
Depreciation
+€8,813
Receivables within one year
-€485,390
Smaller working-capital items
-€677
Trade debts
+€395,554
Other debts
+€51,200
Investment (derived)
-€22,958
Investment in fixed assets (net)
-€22,958
Financing
-€150,000
Contributions, distributions and other
-€150,000
Cash 2025
€52,875
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,355,199 | €14,883,705 | +€528,506 | +3.7% |
| Fixed assets | 21/28 | €13,650,786 | €13,664,930 | +€14,144 | +0.1% |
| Intangible fixed assets | 21 | €48,000 | €63,144 | +€15,144 | +31.6% |
| Financial fixed assets | 28 | €13,602,786 | €13,601,786 | -€1,000 | 0.0% |
| Current assets | 29/58 | €704,413 | €1,218,775 | +€514,362 | +73.0% |
| Amounts receivable within one year | 40/41 | €417,308 | €902,697 | +€485,390 | +116% |
| Trade receivables | 40 | €237,651 | €715,899 | +€478,248 | +201% |
| Other amounts receivable | 41 | €179,657 | €186,798 | +€7,142 | +4.0% |
| Current investments | 50/53 | €11,385 | €11,385 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €23,909 | €52,875 | +€28,967 | +121% |
| Deferred charges and accrued income | 490/1 | €251,812 | €251,818 | +€6 | 0.0% |
| Total equity and liabilities | 10/49 | €14,355,199 | €14,883,705 | +€528,506 | +3.7% |
| Equity | 10/15 | €13,845,282 | €13,927,705 | +€82,423 | +0.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Revaluation surpluses | 12 | €13,110,000 | €13,110,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €625,282 | €707,705 | +€82,423 | +13.2% |
| Amounts payable | 17/49 | €509,917 | €956,000 | +€446,083 | +87.5% |
| Amounts payable within one year | 42/48 | €509,917 | €956,000 | +€446,083 | +87.5% |
| Trade debts | 44 | €248,307 | €643,860 | +€395,554 | +159% |
| Suppliers | 440/4 | €248,307 | €643,860 | +€395,554 | +159% |
| Taxes, remuneration and social security | 45 | €34,782 | €34,112 | -€671 | -1.9% |
| Taxes | 450/3 | €25,148 | €574 | -€24,574 | -97.7% |
| Remuneration and social security | 454/9 | €9,635 | €33,538 | +€23,904 | +248% |
| Other amounts payable | 47/48 | €226,828 | €278,028 | +€51,200 | +22.6% |
| Non-recurring operating income | 76A | €34,500 | - | -€34,500 | |
| Remuneration, social security and pensions | 62 | €76,874 | €275,754 | +€198,880 | +259% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,168 | €8,813 | -€13,354 | -60.2% |
| Other operating charges | 640/8 | €291 | €2,185 | +€1,894 | +652% |
| Non-recurring operating charges | 66A | - | €87,020 | +€87,020 | |
| Gross operating margin | 9900 | €25,770 | €356,124 | +€330,354 | +1,282% |
| Operating profit (loss) | 9901 | -€73,561 | -€17,648 | +€55,913 | +76.0% |
| Financial income | 75/76B | €251,812 | €251,962 | +€150 | +0.1% |
| Recurring financial income | 75 | €251,812 | €251,962 | +€150 | +0.1% |
| Financial charges | 65/66B | €330 | €1,492 | +€1,162 | +352% |
| Recurring financial charges | 65 | €330 | €1,492 | +€1,162 | +352% |
| Profit (loss) for the period before taxes | 9903 | €177,921 | €232,822 | +€54,902 | +30.9% |
| Income taxes | 67/77 | €174 | €399 | +€225 | +129% |
| Profit (loss) for the period | 9904 | €177,746 | €232,423 | +€54,677 | +30.8% |
| Profit (loss) for the period to be appropriated | 9905 | €177,746 | €232,423 | +€54,677 | +30.8% |
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 26 October 2026 via checked.be.