ISERCO: what changed
Two fiscal 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.
What changed
ISERCO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€8,454
2023 · €15,525-€7,071
Equity
€675,910
2023 · €696,633-€20,723
Cash
€42,108
2023 · €48,902-€6,795
Balance sheet total
€986,328
2023 · €1.0m-€27,142
Largest movements
Assets
- Tangible fixed assets -€34,953
down €34,953 (-5.7%), from €616,485 to €581,532
of which Land and buildings: -€32,674
- Receivables after one year +€20,600
up €20,600 (+8.4%), from €245,040 to €265,640
Equity and liabilities
- Reserves -€20,723
down €20,723 (-9.7%), from €213,241 to €192,518
of which Distributable reserves: -€20,723
- Other debts -€10,805
down €10,805 (-54.5%), from €19,838 to €9,032
Income statement
- Gross operating margin +€40,968
up €40,968 (+60.3%), from €67,947 to €108,915
- Write-downs +€24,250
new in 2024: €24,250
- Financial income -€15,832
down €15,832 (-99.5%), from €15,904 to €73
- Financial charges +€9,270
up €9,270 (+166.5%), from €5,567 to €14,837
- Taxes -€2,597
down €2,597 (-38.8%), from €6,693 to €4,096
From the 2023 result to the 2024 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.
Result 2023
€15,525
Gross operating margin
+€40,968
Staff costs
+€187
Depreciation
-€1,118
Write-downs
-€24,250
Other operating charges
-€353
Financial income
-€15,832
Financial charges
-€9,270
Taxes
+€2,597
Result 2024
€8,454
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€19,525
Investment
-€4,032
Financing
-€22,287
Cash 2023
€48,902
From operations (derived)
+€19,525
Net result for the year
+€8,454
Depreciation
+€38,985
Receivables after one year
-€20,600
Receivables within one year
+€1,116
Deferred charges and accrued income
+€4,879
Trade debts
-€1,850
Tax, wage and social debts
+€1,422
Other debts
-€10,805
Accrued charges and deferred income
-€2,075
Investment (derived)
-€4,032
Investment in fixed assets (net)
-€4,032
Current investments
+€0
Financing
-€22,287
Debts after one year
+€6,340
Current portion of long-term debt
+€550
Contributions, distributions and other
-€29,177
Cash 2024
€42,108
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,013,470 | €986,328 | -€27,142 | -2.7% |
| Fixed assets | 21/28 | €616,485 | €581,532 | -€34,953 | -5.7% |
| Tangible fixed assets | 22/27 | €616,485 | €581,532 | -€34,953 | -5.7% |
| Land and buildings | 22 | €610,893 | €578,219 | -€32,674 | -5.3% |
| Plant, machinery and equipment | 23 | €2,641 | €1,519 | -€1,122 | -42.5% |
| Furniture and vehicles | 24 | €2,950 | €1,794 | -€1,157 | -39.2% |
| Current assets | 29/58 | €396,986 | €404,796 | +€7,811 | +2.0% |
| Amounts receivable after more than one year | 29 | €245,040 | €265,640 | +€20,600 | +8.4% |
| Other amounts receivable | 291 | €245,040 | €265,640 | +€20,600 | +8.4% |
| Amounts receivable within one year | 40/41 | €15,482 | €14,367 | -€1,116 | -7.2% |
| Trade receivables | 40 | €13,750 | €850 | -€12,900 | -93.8% |
| Other amounts receivable | 41 | €1,732 | €13,517 | +€11,784 | +680.2% |
| Current investments | 50/53 | €82,682 | €82,682 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €48,902 | €42,108 | -€6,795 | -13.9% |
| Deferred charges and accrued income | 490/1 | €4,879 | - | -€4,879 | |
| Total equity and liabilities | 10/49 | €1,013,470 | €986,328 | -€27,142 | -2.7% |
| Equity | 10/15 | €696,633 | €675,910 | -€20,723 | -3.0% |
| Contributions | 10/11 | €483,392 | €483,392 | = | 0.0% |
| Capital | 10 | €483,392 | €483,392 | = | 0.0% |
| Issued capital | 100 | €483,392 | €483,392 | = | 0.0% |
| Reserves | 13 | €213,241 | €192,518 | -€20,723 | -9.7% |
| Non-distributable reserves | 130/1 | €48,339 | €48,339 | = | 0.0% |
| Legal reserve | 130 | €48,339 | €48,339 | = | 0.0% |
| Distributable reserves | 133 | €164,902 | €144,178 | -€20,723 | -12.6% |
| Amounts payable | 17/49 | €316,837 | €310,418 | -€6,419 | -2.0% |
| Amounts payable after more than one year | 17 | €261,047 | €267,388 | +€6,340 | +2.4% |
| Financial debts | 170/4 | €129,914 | €114,446 | -€15,468 | -11.9% |
| Other amounts payable | 178/9 | €131,133 | €152,941 | +€21,808 | +16.6% |
| Amounts payable within one year | 42/48 | €53,715 | €43,031 | -€10,684 | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €14,918 | €15,468 | +€550 | +3.7% |
| Trade debts | 44 | €3,980 | €2,130 | -€1,850 | -46.5% |
| Suppliers | 440/4 | €3,980 | €2,130 | -€1,850 | -46.5% |
| Taxes, remuneration and social security | 45 | €14,979 | €16,401 | +€1,422 | +9.5% |
| Taxes | 450/3 | €14,862 | €16,401 | +€1,539 | +10.4% |
| Remuneration and social security | 454/9 | €117 | - | -€117 | |
| Other amounts payable | 47/48 | €19,838 | €9,032 | -€10,805 | -54.5% |
| Accrued charges and deferred income | 492/3 | €2,075 | - | -€2,075 | |
| Remuneration, social security and pensions | 62 | €2,115 | €1,928 | -€187 | -8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,867 | €38,985 | +€1,118 | +3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €24,250 | +€24,250 | |
| Other operating charges | 640/8 | €16,085 | €16,438 | +€353 | +2.2% |
| Gross operating margin | 9900 | €67,947 | €108,915 | +€40,968 | +60.3% |
| Operating profit (loss) | 9901 | €11,881 | €27,314 | +€15,433 | +129.9% |
| Financial income | 75/76B | €15,904 | €73 | -€15,832 | -99.5% |
| Recurring financial income | 75 | €15,904 | €73 | -€15,832 | -99.5% |
| Financial charges | 65/66B | €5,567 | €14,837 | +€9,270 | +166.5% |
| Recurring financial charges | 65 | €5,567 | €14,837 | +€9,270 | +166.5% |
| Profit (loss) for the period before taxes | 9903 | €22,218 | €12,550 | -€9,668 | -43.5% |
| Income taxes | 67/77 | €6,693 | €4,096 | -€2,597 | -38.8% |
| Profit (loss) for the period | 9904 | €15,525 | €8,454 | -€7,071 | -45.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,525 | €8,454 | -€7,071 | -45.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.