iSea: 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.
iSea
Largest movements
- Cash -€81,822
down €81,822 (-55.0%), from €148,680 to €66,858
mainly Receivables within one year (-€74,142) and Net result for the year (-€68,093)
- Receivables within one year +€74,142
up €74,142 (+21.2%), from €349,162 to €423,304
of which Trade receivables: +€59,726
- Tangible fixed assets -€33,406
down €33,406 (-64.0%), from €52,192 to €18,786
of which Plant, machinery and equipment: -€32,797
- Profit (loss) carried forward -€68,093
down €68,093 (-12.9%), from -€526,527 to -€594,621
- Tax, wage and social debts +€26,483
up €26,483 (+144%), from €18,403 to €44,886
of which Taxes: +€18,378
- Gross operating margin -€98,273
down €98,273 (-46.9%), from €209,443 to €111,169
- Depreciation -€14,776
down €14,776 (-28.4%), from €52,099 to €37,322
- Staff costs +€8,638
up €8,638 (+6.5%), from €133,550 to €142,188
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.
Derived cash bridge
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 | €652,045 | €610,583 | -€41,461 | -6.4% |
| Fixed assets | 21/28 | €52,192 | €18,786 | -€33,406 | -64.0% |
| Tangible fixed assets | 22/27 | €52,192 | €18,786 | -€33,406 | -64.0% |
| Plant, machinery and equipment | 23 | €51,583 | €18,786 | -€32,797 | -63.6% |
| Furniture and vehicles | 24 | €608 | €0 | -€608 | -100% |
| Current assets | 29/58 | €599,853 | €591,797 | -€8,056 | -1.3% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Other amounts receivable | 291 | €25,000 | €25,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €73,828 | €73,828 | = | 0.0% |
| Stocks | 30/36 | €50,130 | €50,130 | = | 0.0% |
| Contracts in progress | 37 | €23,699 | €23,699 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €349,162 | €423,304 | +€74,142 | +21.2% |
| Trade receivables | 40 | €250,000 | €309,726 | +€59,726 | +23.9% |
| Other amounts receivable | 41 | €99,162 | €113,579 | +€14,416 | +14.5% |
| Cash at bank and in hand | 54/58 | €148,680 | €66,858 | -€81,822 | -55.0% |
| Deferred charges and accrued income | 490/1 | €3,183 | €2,807 | -€375 | -11.8% |
| Total equity and liabilities | 10/49 | €652,045 | €610,583 | -€41,461 | -6.4% |
| Equity | 10/15 | €598,473 | €530,379 | -€68,093 | -11.4% |
| Contributions | 10/11 | €1,125,000 | €1,125,000 | = | 0.0% |
| Capital | 10 | €1,125,000 | €1,125,000 | = | 0.0% |
| Issued capital | 100 | €3,000,000 | €3,000,000 | = | 0.0% |
| Uncalled capital | 101 | €1,875,000 | €1,875,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€526,527 | -€594,621 | -€68,093 | -12.9% |
| Amounts payable | 17/49 | €53,572 | €80,204 | +€26,632 | +49.7% |
| Amounts payable within one year | 42/48 | €53,572 | €80,010 | +€26,438 | +49.4% |
| Trade debts | 44 | €35,169 | €35,125 | -€44 | -0.1% |
| Suppliers | 440/4 | €35,169 | €35,125 | -€44 | -0.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €18,403 | €44,886 | +€26,483 | +144% |
| Taxes | 450/3 | €0 | €18,378 | +€18,378 | |
| Remuneration and social security | 454/9 | €18,403 | €26,508 | +€8,105 | +44.0% |
| Accrued charges and deferred income | 492/3 | - | €194 | +€194 | |
| Remuneration, social security and pensions | 62 | €133,550 | €142,188 | +€8,638 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,099 | €37,322 | -€14,776 | -28.4% |
| Other operating charges | 640/8 | €968 | €400 | -€568 | -58.7% |
| Gross operating margin | 9900 | €209,443 | €111,169 | -€98,273 | -46.9% |
| Operating profit (loss) | 9901 | €22,827 | -€68,741 | -€91,568 | |
| Financial income | 75/76B | €24 | €1,113 | +€1,089 | +4,544% |
| Recurring financial income | 75 | €24 | €1,113 | +€1,089 | +4,544% |
| Financial charges | 65/66B | €463 | €465 | +€2 | +0.4% |
| Recurring financial charges | 65 | €463 | €465 | +€2 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €22,388 | -€68,093 | -€90,481 | |
| Profit (loss) for the period | 9904 | €22,388 | -€68,093 | -€90,481 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,388 | -€68,093 | -€90,481 |
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 26 October 2026 via checked.be.