ISH Holding: 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 Holding
Largest movements
- Financial fixed assets +€12.9m
up €12.9m (+97.9%), from €13.1m to €26.0m
- Receivables within one year -€7.8m
down €7.8m (-98.2%), from €8.0m to €140,463
of which Other amounts receivable: -€7.9m
- Contributions +€5.2m
up €5.2m (+26.0%), from €19.9m to €25.1m
- Profit (loss) carried forward -€335,111
down €335,111 (-122%), from -€275,649 to -€610,760
- Financial charges +€158,397
up €158,397 (+1,033%), from €15,337 to €173,734
of which Non-recurring financial charges: +€85,761
- Gross operating margin -€43,905
down €43,905 (-35.4%), from -€123,972 to -€167,877
- Financial income +€2,549
up €2,549 (+52.5%), from €4,852 to €7,401
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 | €21,256,517 | €26,160,697 | +€4.9m | +23.1% |
| Fixed assets | 21/28 | €13,124,938 | €25,977,767 | +€12.9m | +97.9% |
| Financial fixed assets | 28 | €13,124,938 | €25,977,767 | +€12.9m | +97.9% |
| Current assets | 29/58 | €8,131,579 | €182,930 | -€7.9m | -97.8% |
| Amounts receivable within one year | 40/41 | €7,960,569 | €140,463 | -€7.8m | -98.2% |
| Trade receivables | 40 | €18,925 | €140,450 | +€121,525 | +642% |
| Other amounts receivable | 41 | €7,941,643 | €13 | -€7.9m | -100.0% |
| Cash at bank and in hand | 54/58 | €171,010 | €42,467 | -€128,544 | -75.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €21,256,517 | €26,160,697 | +€4.9m | +23.1% |
| Equity | 10/15 | €19,633,153 | €24,468,188 | +€4.8m | +24.6% |
| Contributions | 10/11 | €19,908,802 | €25,078,948 | +€5.2m | +26.0% |
| Profit (loss) carried forward | 14 | -€275,649 | -€610,760 | -€335,111 | -122% |
| Amounts payable | 17/49 | €1,623,364 | €1,692,509 | +€69,146 | +4.3% |
| Amounts payable after more than one year | 17 | €1,585,102 | €1,585,102 | = | 0.0% |
| Financial debts | 170/4 | €1,585,102 | €1,585,102 | = | 0.0% |
| Amounts payable within one year | 42/48 | €32,529 | €102,916 | +€70,387 | +216% |
| Trade debts | 44 | €32,529 | €92,741 | +€60,212 | +185% |
| Suppliers | 440/4 | €32,529 | €92,741 | +€60,212 | +185% |
| Taxes, remuneration and social security | 45 | - | €10,175 | +€10,175 | |
| Taxes | 450/3 | - | €10,175 | +€10,175 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €5,732 | €4,491 | -€1,241 | -21.7% |
| Other operating charges | 640/8 | €423 | €901 | +€478 | +113% |
| Gross operating margin | 9900 | -€123,972 | -€167,877 | -€43,905 | -35.4% |
| Operating profit (loss) | 9901 | -€124,395 | -€168,778 | -€44,384 | -35.7% |
| Financial income | 75/76B | €4,852 | €7,401 | +€2,549 | +52.5% |
| Recurring financial income | 75 | €4,852 | €7,401 | +€2,549 | +52.5% |
| Financial charges | 65/66B | €15,337 | €173,734 | +€158,397 | +1,033% |
| Recurring financial charges | 65 | €15,337 | €87,972 | +€72,635 | +474% |
| Non-recurring financial charges | 66B | - | €85,761 | +€85,761 | |
| Profit (loss) for the period before taxes | 9903 | -€134,880 | -€335,111 | -€200,231 | -148% |
| Income taxes | 67/77 | €1,449 | €0 | -€1,449 | -100% |
| Profit (loss) for the period | 9904 | -€136,329 | -€335,111 | -€198,782 | -146% |
| Profit (loss) for the period to be appropriated | 9905 | -€136,329 | -€335,111 | -€198,782 | -146% |
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 17 October 2026 via checked.be.