ISH Group: 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.
ISH Group
Largest movements
- Receivables within one year +€10,864
new in 2025: €10,864
- Formation expenses -€1,209
down €1,209 (-23.2%), from €5,211 to €4,002
- Profit (loss) carried forward +€6,114
up €6,114, from -€449 to €5,665
- Tax, wage and social debts +€2,924
up €2,924 (+625%), from €468 to €3,391
- Trade debts +€797
up €797 (+78.4%), from €1,018 to €1,815
- Other debts -€260
no longer reported in 2025 (was €260)
- Gross operating margin +€8,343
up €8,343 (+1,680%), from €497 to €8,839
- Taxes +€1,428
new in 2025: €1,428
- Depreciation +€374
up €374 (+44.8%), from €835 to €1,209
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 | €5,296 | €14,871 | +€9,575 | +181% |
| Formation expenses | 20 | €5,211 | €4,002 | -€1,209 | -23.2% |
| Current assets | 29/58 | €85 | €10,870 | +€10,784 | +12,637% |
| Amounts receivable within one year | 40/41 | - | €10,864 | +€10,864 | |
| Other amounts receivable | 41 | - | €10,864 | +€10,864 | |
| Cash at bank and in hand | 54/58 | €85 | €5 | -€80 | -93.8% |
| Total equity and liabilities | 10/49 | €5,296 | €14,871 | +€9,575 | +181% |
| Equity | 10/15 | €3,551 | €9,665 | +€6,114 | +172% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Contributions outside capital | 11 | €4,000 | - | -€4,000 | |
| Other | 1109/19 | €4,000 | - | -€4,000 | |
| Profit (loss) carried forward | 14 | -€449 | €5,665 | +€6,114 | |
| Amounts payable | 17/49 | €1,745 | €5,206 | +€3,461 | +198% |
| Amounts payable within one year | 42/48 | €1,745 | €5,206 | +€3,461 | +198% |
| Trade debts | 44 | €1,018 | €1,815 | +€797 | +78.4% |
| Suppliers | 440/4 | €1,018 | €1,815 | +€797 | +78.4% |
| Taxes, remuneration and social security | 45 | €468 | €3,391 | +€2,924 | +625% |
| Taxes | 450/3 | €468 | €3,391 | +€2,924 | +625% |
| Other amounts payable | 47/48 | €260 | - | -€260 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €835 | €1,209 | +€374 | +44.8% |
| Gross operating margin | 9900 | €497 | €8,839 | +€8,343 | +1,680% |
| Operating profit (loss) | 9901 | -€338 | €7,630 | +€7,968 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €111 | €88 | -€23 | -20.6% |
| Recurring financial charges | 65 | €111 | €88 | -€23 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | -€449 | €7,542 | +€7,991 | |
| Income taxes | 67/77 | - | €1,428 | +€1,428 | |
| Profit (loss) for the period | 9904 | -€449 | €6,114 | +€6,563 | |
| Profit (loss) for the period to be appropriated | 9905 | -€449 | €6,114 | +€6,563 |
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 18 October 2026 via checked.be.