ISAS: 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.
ISAS
Largest movements
- Receivables within one year +€53,604
up €53,604 (+30.5%), from €175,677 to €229,281
of which Trade receivables: +€67,740
- Tangible fixed assets -€6,231
down €6,231 (-56.8%), from €10,972 to €4,741
of which Plant, machinery and equipment: -€3,287
- Cash +€3,823
up €3,823 (+70.4%), from €5,432 to €9,255
mainly Trade debts (+€19,207) and Other debts (+€19,193)
- Trade debts +€19,207
up €19,207 (+15.5%), from €124,002 to €143,208
- Other debts +€19,193
up €19,193 (+38.3%), from €50,075 to €69,268
- Tax, wage and social debts +€10,775
up €10,775 (+1466.5%), from €735 to €11,510
of which Taxes: +€8,955
- Staff costs +€40,678
up €40,678 (+157.8%), from €25,785 to €66,464
- Other operating charges -€26,294
down €26,294 (-91.1%), from €28,877 to €2,583
- Depreciation -€7,691
down €7,691 (-53.3%), from €14,442 to €6,751
- Gross operating margin +€7,642
up €7,642 (+10.8%), from €70,774 to €78,416
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 | €206,547 | €257,847 | +€51,300 | +24.8% |
| Fixed assets | 21/28 | €25,378 | €19,282 | -€6,096 | -24.0% |
| Tangible fixed assets | 22/27 | €10,972 | €4,741 | -€6,231 | -56.8% |
| Plant, machinery and equipment | 23 | €3,561 | €274 | -€3,287 | -92.3% |
| Furniture and vehicles | 24 | €7,411 | €4,467 | -€2,944 | -39.7% |
| Financial fixed assets | 28 | €14,406 | €14,541 | +€135 | +0.9% |
| Current assets | 29/58 | €181,169 | €238,566 | +€57,396 | +31.7% |
| Amounts receivable within one year | 40/41 | €175,677 | €229,281 | +€53,604 | +30.5% |
| Trade receivables | 40 | €161,321 | €229,061 | +€67,740 | +42.0% |
| Other amounts receivable | 41 | €14,356 | €220 | -€14,136 | -98.5% |
| Cash at bank and in hand | 54/58 | €5,432 | €9,255 | +€3,823 | +70.4% |
| Deferred charges and accrued income | 490/1 | €61 | €30 | -€31 | -51.1% |
| Total equity and liabilities | 10/49 | €206,547 | €257,847 | +€51,300 | +24.8% |
| Equity | 10/15 | €31,735 | €33,518 | +€1,782 | +5.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €266 | €2,048 | +€1,782 | +669.4% |
| Non-distributable reserves | 130/1 | €266 | €1,266 | +€1,000 | +375.6% |
| Reserves not available under the articles | 1311 | €266 | €1,266 | +€1,000 | +375.6% |
| Distributable reserves | 133 | - | €782 | +€782 | |
| Profit (loss) carried forward | 14 | €11,469 | €11,469 | = | 0.0% |
| Amounts payable | 17/49 | €174,812 | €224,330 | +€49,518 | +28.3% |
| Amounts payable within one year | 42/48 | €174,812 | €224,330 | +€49,518 | +28.3% |
| Financial debts | 43 | - | €343 | +€343 | |
| Credit institutions | 430/8 | - | €343 | +€343 | |
| Trade debts | 44 | €124,002 | €143,208 | +€19,207 | +15.5% |
| Suppliers | 440/4 | €124,002 | €143,208 | +€19,207 | +15.5% |
| Taxes, remuneration and social security | 45 | €735 | €11,510 | +€10,775 | +1466.5% |
| Taxes | 450/3 | €735 | €9,690 | +€8,955 | +1218.8% |
| Remuneration and social security | 454/9 | - | €1,820 | +€1,820 | |
| Other amounts payable | 47/48 | €50,075 | €69,268 | +€19,193 | +38.3% |
| Remuneration, social security and pensions | 62 | €25,785 | €66,464 | +€40,678 | +157.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,442 | €6,751 | -€7,691 | -53.3% |
| Other operating charges | 640/8 | €28,877 | €2,583 | -€26,294 | -91.1% |
| Gross operating margin | 9900 | €70,774 | €78,416 | +€7,642 | +10.8% |
| Operating profit (loss) | 9901 | €1,670 | €2,619 | +€948 | +56.8% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €682 | €291 | -€392 | -57.4% |
| Recurring financial charges | 65 | €682 | €291 | -€392 | -57.4% |
| Profit (loss) for the period before taxes | 9903 | €989 | €2,328 | +€1,339 | +135.5% |
| Income taxes | 67/77 | €281 | €546 | +€265 | +94.4% |
| Profit (loss) for the period | 9904 | €708 | €1,782 | +€1,074 | +151.8% |
| Profit (loss) for the period to be appropriated | 9905 | €708 | €1,782 | +€1,074 | +151.8% |
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 10 October 2026 via checked.be.