ISDO: 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.
ISDO
Largest movements
- Cash +€63,921
up €63,921 (+461.7%), from €13,846 to €77,768
mainly Investment in fixed assets (net) (+€61,423) and Net result for the year (+€42,464)
- Financial fixed assets -€62,334
down €62,334 (-33.3%), from €187,334 to €125,000
- Tangible fixed assets -€32,519
down €32,519 (-2.9%), from €1.1m to €1.1m
- Debts after one year -€70,065
down €70,065 (-7.9%), from €882,932 to €812,867
of which Financial debts: -€115,065
- Reserves +€41,464
up €41,464 (+13.2%), from €315,144 to €356,608
- Other operating charges -€31,140
down €31,140 (-76.7%), from €40,611 to €9,470
- Gross operating margin +€22,745
up €22,745 (+19.6%), from €115,964 to €138,709
- Financial charges +€19,538
up €19,538 (+129.1%), from €15,138 to €34,677
of which Non-recurring financial charges: +€11,334
- Taxes +€9,056
up €9,056 (+91.3%), from €9,915 to €18,971
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 | €1,335,459 | €1,303,716 | -€31,743 | -2.4% |
| Fixed assets | 21/28 | €1,311,911 | €1,217,058 | -€94,853 | -7.2% |
| Tangible fixed assets | 22/27 | €1,124,577 | €1,092,058 | -€32,519 | -2.9% |
| Land and buildings | 22 | €1,084,682 | €1,068,468 | -€16,214 | -1.5% |
| Plant, machinery and equipment | 23 | €2,609 | €1,370 | -€1,239 | -47.5% |
| Furniture and vehicles | 24 | €37,287 | €22,220 | -€15,066 | -40.4% |
| Financial fixed assets | 28 | €187,334 | €125,000 | -€62,334 | -33.3% |
| Current assets | 29/58 | €23,548 | €86,658 | +€63,110 | +268.0% |
| Amounts receivable within one year | 40/41 | €9,524 | €8,890 | -€633 | -6.6% |
| Trade receivables | 40 | €3,343 | €827 | -€2,516 | -75.3% |
| Other amounts receivable | 41 | €6,181 | €8,063 | +€1,883 | +30.5% |
| Cash at bank and in hand | 54/58 | €13,846 | €77,768 | +€63,921 | +461.7% |
| Deferred charges and accrued income | 490/1 | €178 | - | -€178 | |
| Total equity and liabilities | 10/49 | €1,335,459 | €1,303,716 | -€31,743 | -2.4% |
| Equity | 10/15 | €340,144 | €381,608 | +€41,464 | +12.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €315,144 | €356,608 | +€41,464 | +13.2% |
| Distributable reserves | 133 | €315,144 | €356,608 | +€41,464 | +13.2% |
| Amounts payable | 17/49 | €995,315 | €922,108 | -€73,207 | -7.4% |
| Amounts payable after more than one year | 17 | €882,932 | €812,867 | -€70,065 | -7.9% |
| Financial debts | 170/4 | €882,932 | €767,867 | -€115,065 | -13.0% |
| Other amounts payable | 178/9 | - | €45,000 | +€45,000 | |
| Amounts payable within one year | 42/48 | €111,333 | €108,794 | -€2,540 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €90,791 | €90,065 | -€726 | -0.8% |
| Trade debts | 44 | €11,925 | €5,952 | -€5,973 | -50.1% |
| Suppliers | 440/4 | €11,925 | €5,952 | -€5,973 | -50.1% |
| Taxes, remuneration and social security | 45 | €8,618 | €9,571 | +€954 | +11.1% |
| Taxes | 450/3 | €8,618 | €9,571 | +€954 | +11.1% |
| Other amounts payable | 47/48 | - | €3,206 | +€3,206 | |
| Accrued charges and deferred income | 492/3 | €1,050 | €448 | -€602 | -57.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,547 | €33,430 | -€118 | -0.4% |
| Other operating charges | 640/8 | €40,611 | €9,470 | -€31,140 | -76.7% |
| Gross operating margin | 9900 | €115,964 | €138,709 | +€22,745 | +19.6% |
| Operating profit (loss) | 9901 | €41,806 | €95,809 | +€54,003 | +129.2% |
| Financial income | 75/76B | €89 | €302 | +€212 | +238.2% |
| Recurring financial income | 75 | €89 | €302 | +€212 | +238.2% |
| Financial charges | 65/66B | €15,138 | €34,677 | +€19,538 | +129.1% |
| Recurring financial charges | 65 | €15,138 | €23,343 | +€8,204 | +54.2% |
| Non-recurring financial charges | 66B | - | €11,334 | +€11,334 | |
| Profit (loss) for the period before taxes | 9903 | €26,757 | €61,434 | +€34,677 | +129.6% |
| Income taxes | 67/77 | €9,915 | €18,971 | +€9,056 | +91.3% |
| Profit (loss) for the period | 9904 | €16,842 | €42,464 | +€25,622 | +152.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,842 | €42,464 | +€25,622 | +152.1% |
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 12 October 2026 via checked.be.