ISEKO: 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.
ISEKO
Largest movements
- Financial fixed assets -€145,950
down €145,950 (-97.3%), from €150,000 to €4,050
- Receivables within one year +€64,918
new in 2025: €64,918
of which Trade receivables: +€58,447
- Cash +€26,561
up €26,561 (+84.1%), from €31,578 to €58,139
mainly Investment in fixed assets (net) (+€138,309) and Trade debts (+€54,885)
- Tangible fixed assets +€7,299
new in 2025: €7,299
of which Furniture and vehicles: +€5,029
- Deferred charges and accrued income +€2,653
new in 2025: €2,653
- Profit (loss) carried forward -€93,966
down €93,966, from €20,484 to -€73,482
- Trade debts +€54,885
up €54,885 (+7082.6%), from €775 to €55,660
- Debts after one year -€15,058
down €15,058 (-16.9%), from €88,884 to €73,825
- Tax, wage and social debts +€10,058
up €10,058 (+71.3%), from €14,101 to €24,159
of which Taxes: +€11,558
- Financial charges +€151,549
up €151,549 (+4904.0%), from €3,090 to €154,639
of which Non-recurring financial charges: +€150,000
- Gross operating margin +€50,469
up €50,469 (+163.4%), from €30,894 to €81,363
- Taxes +€13,219
up €13,219 (+190.7%), from €6,932 to €20,152
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 | €181,578 | €137,060 | -€44,518 | -24.5% |
| Fixed assets | 21/28 | €150,000 | €11,349 | -€138,651 | -92.4% |
| Tangible fixed assets | 22/27 | - | €7,299 | +€7,299 | |
| Plant, machinery and equipment | 23 | - | €938 | +€938 | |
| Furniture and vehicles | 24 | - | €5,029 | +€5,029 | |
| Other tangible fixed assets | 26 | - | €1,332 | +€1,332 | |
| Financial fixed assets | 28 | €150,000 | €4,050 | -€145,950 | -97.3% |
| Current assets | 29/58 | €31,578 | €125,711 | +€94,132 | +298.1% |
| Amounts receivable within one year | 40/41 | - | €64,918 | +€64,918 | |
| Trade receivables | 40 | - | €58,447 | +€58,447 | |
| Other amounts receivable | 41 | - | €6,471 | +€6,471 | |
| Cash at bank and in hand | 54/58 | €31,578 | €58,139 | +€26,561 | +84.1% |
| Deferred charges and accrued income | 490/1 | - | €2,653 | +€2,653 | |
| Total equity and liabilities | 10/49 | €181,578 | €137,060 | -€44,518 | -24.5% |
| Equity | 10/15 | €23,484 | -€70,482 | -€93,966 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,484 | -€73,482 | -€93,966 | |
| Amounts payable | 17/49 | €158,094 | €207,542 | +€49,447 | +31.3% |
| Amounts payable after more than one year | 17 | €88,884 | €73,825 | -€15,058 | -16.9% |
| Financial debts | 170/4 | €88,884 | €73,825 | -€15,058 | -16.9% |
| Amounts payable within one year | 42/48 | €69,211 | €133,716 | +€64,505 | +93.2% |
| Current portion of amounts payable after more than one year | 42 | €15,555 | €16,282 | +€728 | +4.7% |
| Trade debts | 44 | €775 | €55,660 | +€54,885 | +7082.6% |
| Suppliers | 440/4 | €775 | €55,660 | +€54,885 | +7082.6% |
| Taxes, remuneration and social security | 45 | €14,101 | €24,159 | +€10,058 | +71.3% |
| Taxes | 450/3 | €12,601 | €24,159 | +€11,558 | +91.7% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €38,780 | €37,615 | -€1,165 | -3.0% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €342 | +€342 | |
| Other operating charges | 640/8 | €387 | €538 | +€150 | +38.8% |
| Gross operating margin | 9900 | €30,894 | €81,363 | +€50,469 | +163.4% |
| Operating profit (loss) | 9901 | €30,506 | €80,483 | +€49,976 | +163.8% |
| Financial income | 75/76B | - | €342 | +€342 | |
| Recurring financial income | 75 | - | €342 | +€342 | |
| Financial charges | 65/66B | €3,090 | €154,639 | +€151,549 | +4904.0% |
| Recurring financial charges | 65 | €3,090 | €4,639 | +€1,549 | +50.1% |
| Non-recurring financial charges | 66B | - | €150,000 | +€150,000 | |
| Profit (loss) for the period before taxes | 9903 | €27,416 | -€73,814 | -€101,230 | |
| Income taxes | 67/77 | €6,932 | €20,152 | +€13,219 | +190.7% |
| Profit (loss) for the period | 9904 | €20,484 | -€93,966 | -€114,450 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,484 | -€93,966 | -€114,450 |
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.