ISAPP: 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.
ISAPP
Largest movements
- Receivables within one year -€596,800
down €596,800 (-54.3%), from €1.1m to €502,700
of which Other amounts receivable: -€667,870
- Cash +€51,226
up €51,226 (+53.9%), from €95,125 to €146,351
mainly Receivables within one year (+€596,800) and Trade debts (+€82,226)
- Other debts -€576,857
down €576,857 (-74.7%), from €772,317 to €195,460
- Trade debts +€82,226
up €82,226 (+88.4%), from €92,975 to €175,201
- Reserves -€25,616
down €25,616 (-9.8%), from €260,924 to €235,309
- Tax, wage and social debts -€18,879
down €18,879 (-65.4%), from €28,870 to €9,991
of which Taxes: -€13,293
- Gross operating margin -€212,646
down €212,646 (-75.2%), from €282,709 to €70,063
- Staff costs -€137,580
down €137,580 (-60.7%), from €226,542 to €88,962
- Taxes -€13,987
down €13,987, from €13,096 to -€891
- Other operating charges -€4,157
down €4,157 (-55.4%), from €7,505 to €3,348
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 | €1,255,251 | €695,412 | -€559,839 | -44.6% |
| Fixed assets | 21/28 | €2,917 | €7,746 | +€4,829 | +165.6% |
| Intangible fixed assets | 21 | €2,917 | €2,318 | -€599 | -20.5% |
| Tangible fixed assets | 22/27 | - | €5,428 | +€5,428 | |
| Plant, machinery and equipment | 23 | - | €5,428 | +€5,428 | |
| Current assets | 29/58 | €1,252,334 | €687,666 | -€564,668 | -45.1% |
| Stocks and contracts in progress | 3 | €35,673 | €23,695 | -€11,979 | -33.6% |
| Stocks | 30/36 | €35,673 | €23,695 | -€11,979 | -33.6% |
| Amounts receivable within one year | 40/41 | €1,099,500 | €502,700 | -€596,800 | -54.3% |
| Trade receivables | 40 | €212,986 | €284,056 | +€71,070 | +33.4% |
| Other amounts receivable | 41 | €886,514 | €218,644 | -€667,870 | -75.3% |
| Cash at bank and in hand | 54/58 | €95,125 | €146,351 | +€51,226 | +53.9% |
| Deferred charges and accrued income | 490/1 | €22,036 | €14,920 | -€7,116 | -32.3% |
| Total equity and liabilities | 10/49 | €1,255,251 | €695,412 | -€559,839 | -44.6% |
| Equity | 10/15 | €289,484 | €263,869 | -€25,616 | -8.8% |
| Contributions | 10/11 | €28,560 | €28,560 | = | 0.0% |
| Reserves | 13 | €260,924 | €235,309 | -€25,616 | -9.8% |
| Distributable reserves | 133 | €260,924 | €235,309 | -€25,616 | -9.8% |
| Amounts payable | 17/49 | €965,767 | €431,543 | -€534,223 | -55.3% |
| Amounts payable after more than one year | 17 | €30,208 | €17,708 | -€12,500 | -41.4% |
| Financial debts | 170/4 | €30,208 | €17,708 | -€12,500 | -41.4% |
| Amounts payable within one year | 42/48 | €935,558 | €413,835 | -€521,723 | -55.8% |
| Current portion of amounts payable after more than one year | 42 | €12,500 | €12,500 | = | 0.0% |
| Financial debts | 43 | €28,896 | €20,683 | -€8,213 | -28.4% |
| Other loans | 439 | €28,896 | €20,683 | -€8,213 | -28.4% |
| Trade debts | 44 | €92,975 | €175,201 | +€82,226 | +88.4% |
| Suppliers | 440/4 | €92,975 | €175,201 | +€82,226 | +88.4% |
| Taxes, remuneration and social security | 45 | €28,870 | €9,991 | -€18,879 | -65.4% |
| Taxes | 450/3 | €13,483 | €190 | -€13,293 | -98.6% |
| Remuneration and social security | 454/9 | €15,387 | €9,801 | -€5,586 | -36.3% |
| Other amounts payable | 47/48 | €772,317 | €195,460 | -€576,857 | -74.7% |
| Remuneration, social security and pensions | 62 | €226,542 | €88,962 | -€137,580 | -60.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77 | €624 | +€547 | +711.8% |
| Other operating charges | 640/8 | €7,505 | €3,348 | -€4,157 | -55.4% |
| Gross operating margin | 9900 | €282,709 | €70,063 | -€212,646 | -75.2% |
| Operating profit (loss) | 9901 | €48,586 | -€22,871 | -€71,457 | |
| Financial income | 75/76B | €1 | €4 | +€3 | +366.0% |
| Recurring financial income | 75 | €1 | €4 | +€3 | +366.0% |
| Financial charges | 65/66B | €3,073 | €3,640 | +€568 | +18.5% |
| Recurring financial charges | 65 | €3,073 | €3,640 | +€568 | +18.5% |
| Profit (loss) for the period before taxes | 9903 | €45,514 | -€26,507 | -€72,021 | |
| Income taxes | 67/77 | €13,096 | -€891 | -€13,987 | |
| Profit (loss) for the period | 9904 | €32,419 | -€25,616 | -€58,035 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,419 | -€25,616 | -€58,035 |
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 9 October 2026 via checked.be.