ISÂN-FUSION: what changed
ISÂN-FUSION
Largest movements
- Tangible fixed assets -€439,503
no longer reported in 2025 (was €439,503)
of which Land and buildings: -€431,035
- Receivables within one year -€102,412
no longer reported in 2025 (was €102,412)
of which Trade receivables: -€67,074
- Financial fixed assets -€14,178
no longer reported in 2025 (was €14,178)
- Debts after one year -€242,830
no longer reported in 2025 (was €242,830)
- Profit (loss) carried forward -€93,408
down €93,408, from €32,560 to -€60,848
- Short-term financial debts -€93,014
no longer reported in 2025 (was €93,014)
- Current portion of long-term debt -€72,173
no longer reported in 2025 (was €72,173)
- Other debts -€32,309
down €32,309 (-75.1%), from €43,023 to €10,714
- Other operating charges +€72,435
up €72,435 (+19,575%), from €370 to €72,805
- Depreciation -€46,596
down €46,596 (-96.5%), from €48,301 to €1,705
- Gross operating margin +€23,642
up €23,642 (+143%), from €16,507 to €40,149
- Taxes +€20,500
new in 2025: €20,500
- Financial income -€14,097
no longer reported in 2025 (was €14,097)
of which Financial income: -€14,097
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €556,093 | €3,083 | -€553,010 | -99.4% |
| Fixed assets | 21/28 | €453,681 | - | -€453,681 | |
| Tangible fixed assets | 22/27 | €439,503 | - | -€439,503 | |
| Land and buildings | 22 | €431,035 | - | -€431,035 | |
| Plant, machinery and equipment | 23 | €6,763 | - | -€6,763 | |
| Furniture and vehicles | 24 | €1,705 | - | -€1,705 | |
| Financial fixed assets | 28 | €14,178 | - | -€14,178 | |
| Current assets | 29/58 | €102,412 | €3,083 | -€99,329 | -97.0% |
| Amounts receivable within one year | 40/41 | €102,412 | - | -€102,412 | |
| Trade receivables | 40 | €67,074 | - | -€67,074 | |
| Other amounts receivable | 41 | €35,338 | - | -€35,338 | |
| Cash at bank and in hand | 54/58 | - | €3,083 | +€3,083 | |
| Total equity and liabilities | 10/49 | €556,093 | €3,083 | -€553,010 | -99.4% |
| Equity | 10/15 | €85,667 | -€7,741 | -€93,408 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €34,507 | €34,507 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €32,647 | €32,647 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,560 | -€60,848 | -€93,408 | |
| Amounts payable | 17/49 | €470,426 | €10,824 | -€459,602 | -97.7% |
| Amounts payable after more than one year | 17 | €242,830 | - | -€242,830 | |
| Financial debts | 170/4 | €242,830 | - | -€242,830 | |
| Amounts payable within one year | 42/48 | €227,596 | €10,824 | -€216,772 | -95.2% |
| Current portion of amounts payable after more than one year | 42 | €72,173 | - | -€72,173 | |
| Financial debts | 43 | €93,014 | - | -€93,014 | |
| Credit institutions | 430/8 | €93,014 | - | -€93,014 | |
| Trade debts | 44 | €19,386 | €109 | -€19,277 | -99.4% |
| Suppliers | 440/4 | €19,386 | €109 | -€19,277 | -99.4% |
| Other amounts payable | 47/48 | €43,023 | €10,714 | -€32,309 | -75.1% |
| Non-recurring operating income | 76A | €4,212 | - | -€4,212 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,301 | €1,705 | -€46,596 | -96.5% |
| Other operating charges | 640/8 | €370 | €72,805 | +€72,435 | +19,575% |
| Non-recurring operating charges | 66A | - | €35,260 | +€35,260 | |
| Gross operating margin | 9900 | €16,507 | €40,149 | +€23,642 | +143% |
| Operating profit (loss) | 9901 | -€32,164 | -€69,621 | -€37,457 | -116% |
| Financial income | 75/76B | €14,097 | - | -€14,097 | |
| Recurring financial income | 75 | €14,097 | - | -€14,097 | |
| Non-recurring financial income | 76B | €14,097 | - | -€14,097 | |
| Financial charges | 65/66B | €10,863 | €3,287 | -€7,576 | -69.7% |
| Recurring financial charges | 65 | €10,863 | €3,287 | -€7,576 | -69.7% |
| Profit (loss) for the period before taxes | 9903 | -€28,930 | -€72,908 | -€43,978 | -152% |
| Income taxes | 67/77 | - | €20,500 | +€20,500 | |
| Profit (loss) for the period | 9904 | -€28,930 | -€93,408 | -€64,478 | -223% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,930 | -€93,408 | -€64,478 | -223% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.