ISCO: 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.
ISCO
Largest movements
- Receivables within one year +€22,867
new in 2025: €22,867
of which Trade receivables: +€22,500
- Cash -€12,956
down €12,956 (-25.5%), from €50,821 to €37,864
mainly Receivables within one year (-€22,867) and Trade debts (-€12,954)
- Deferred charges and accrued income -€10,414
down €10,414 (-82.8%), from €12,573 to €2,159
- Tangible fixed assets +€2,090
up €2,090 (+27.8%), from €7,527 to €9,618
of which Plant, machinery and equipment: +€2,401
- Tax, wage and social debts +€14,652
up €14,652 (+118.3%), from €12,391 to €27,043
of which Taxes: +€14,685
- Trade debts -€12,954
down €12,954 (-93.0%), from €13,930 to €976
- Gross operating margin -€38,214
down €38,214 (-70.1%), from €54,509 to €16,295
- Taxes -€7,492
down €7,492 (-70.1%), from €10,688 to €3,196
- Depreciation +€1,407
up €1,407 (+53.2%), from €2,645 to €4,052
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 | €71,552 | €72,507 | +€955 | +1.3% |
| Formation expenses | 20 | €631 | - | -€631 | |
| Fixed assets | 21/28 | €7,527 | €9,618 | +€2,090 | +27.8% |
| Tangible fixed assets | 22/27 | €7,527 | €9,618 | +€2,090 | +27.8% |
| Plant, machinery and equipment | 23 | €5,997 | €8,398 | +€2,401 | +40.0% |
| Furniture and vehicles | 24 | €1,530 | €1,219 | -€311 | -20.3% |
| Current assets | 29/58 | €63,394 | €62,890 | -€504 | -0.8% |
| Amounts receivable within one year | 40/41 | - | €22,867 | +€22,867 | |
| Trade receivables | 40 | - | €22,500 | +€22,500 | |
| Other amounts receivable | 41 | - | €367 | +€367 | |
| Cash at bank and in hand | 54/58 | €50,821 | €37,864 | -€12,956 | -25.5% |
| Deferred charges and accrued income | 490/1 | €12,573 | €2,159 | -€10,414 | -82.8% |
| Total equity and liabilities | 10/49 | €71,552 | €72,507 | +€955 | +1.3% |
| Equity | 10/15 | €43,049 | €42,637 | -€412 | -1.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,049 | €39,637 | -€412 | -1.0% |
| Amounts payable | 17/49 | €28,503 | €29,870 | +€1,367 | +4.8% |
| Amounts payable within one year | 42/48 | €28,503 | €29,870 | +€1,367 | +4.8% |
| Trade debts | 44 | €13,930 | €976 | -€12,954 | -93.0% |
| Suppliers | 440/4 | €13,930 | €976 | -€12,954 | -93.0% |
| Taxes, remuneration and social security | 45 | €12,391 | €27,043 | +€14,652 | +118.3% |
| Taxes | 450/3 | €10,724 | €25,409 | +€14,685 | +136.9% |
| Remuneration and social security | 454/9 | €1,666 | €1,634 | -€33 | -2.0% |
| Other amounts payable | 47/48 | €2,182 | €1,851 | -€331 | -15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,645 | €4,052 | +€1,407 | +53.2% |
| Other operating charges | 640/8 | €850 | €529 | -€321 | -37.8% |
| Operating charges capitalised as restructuring costs | 649 | - | -€794 | -€794 | |
| Gross operating margin | 9900 | €54,509 | €16,295 | -€38,214 | -70.1% |
| Operating profit (loss) | 9901 | €51,014 | €12,508 | -€38,506 | -75.5% |
| Financial charges | 65/66B | €276 | €150 | -€126 | -45.7% |
| Recurring financial charges | 65 | €276 | €150 | -€126 | -45.7% |
| Profit (loss) for the period before taxes | 9903 | €50,738 | €12,358 | -€38,380 | -75.6% |
| Income taxes | 67/77 | €10,688 | €3,196 | -€7,492 | -70.1% |
| Profit (loss) for the period | 9904 | €40,049 | €9,162 | -€30,887 | -77.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,049 | €9,162 | -€30,887 | -77.1% |
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 11 October 2026 via checked.be.