ISH VERPAKKING: 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 VERPAKKING
Largest movements
- Stocks and contracts +€35,907
up €35,907 (+34.4%), from €104,523 to €140,430
- Receivables within one year +€33,005
up €33,005 (+17.3%), from €190,267 to €223,272
of which Trade receivables: +€31,228
- Cash -€11,368
down €11,368 (-74.9%), from €15,175 to €3,807
mainly Stocks and contracts (-€35,907) and Receivables within one year (-€33,005)
- Trade debts +€43,041
up €43,041 (+40.1%), from €107,246 to €150,287
- Profit (loss) carried forward +€10,268
up €10,268 (+33.2%), from €30,930 to €41,198
- Gross operating margin -€28,206
down €28,206 (-67.1%), from €42,064 to €13,858
- Financial income +€8,556
up €8,556 (+532%), from €1,608 to €10,164
of which Financial income: +€4,424
- Financial charges +€2,723
up €2,723 (+768%), from €354 to €3,077
- Taxes -€2,629
down €2,629 (-34.1%), from €7,700 to €5,071
- Depreciation -€2,505
down €2,505 (-70.4%), from €3,556 to €1,052
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 | €318,225 | €376,312 | +€58,087 | +18.3% |
| Fixed assets | 21/28 | €5,071 | €4,639 | -€432 | -8.5% |
| Tangible fixed assets | 22/27 | €5,071 | €4,639 | -€432 | -8.5% |
| Plant, machinery and equipment | 23 | €5,071 | €4,639 | -€432 | -8.5% |
| Current assets | 29/58 | €313,154 | €371,673 | +€58,519 | +18.7% |
| Stocks and contracts in progress | 3 | €104,523 | €140,430 | +€35,907 | +34.4% |
| Stocks | 30/36 | €104,523 | €140,430 | +€35,907 | +34.4% |
| Amounts receivable within one year | 40/41 | €190,267 | €223,272 | +€33,005 | +17.3% |
| Trade receivables | 40 | €86,046 | €117,274 | +€31,228 | +36.3% |
| Other amounts receivable | 41 | €104,221 | €105,999 | +€1,777 | +1.7% |
| Cash at bank and in hand | 54/58 | €15,175 | €3,807 | -€11,368 | -74.9% |
| Deferred charges and accrued income | 490/1 | €3,189 | €4,164 | +€975 | +30.6% |
| Total equity and liabilities | 10/49 | €318,225 | €376,312 | +€58,087 | +18.3% |
| Equity | 10/15 | €180,930 | €191,198 | +€10,268 | +5.7% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,930 | €41,198 | +€10,268 | +33.2% |
| Amounts payable | 17/49 | €137,295 | €185,114 | +€47,819 | +34.8% |
| Amounts payable within one year | 42/48 | €137,295 | €182,794 | +€45,499 | +33.1% |
| Trade debts | 44 | €107,246 | €150,287 | +€43,041 | +40.1% |
| Suppliers | 440/4 | €107,246 | €150,287 | +€43,041 | +40.1% |
| Taxes, remuneration and social security | 45 | €30,049 | €32,507 | +€2,457 | +8.2% |
| Taxes | 450/3 | €30,049 | €32,507 | +€2,457 | +8.2% |
| Accrued charges and deferred income | 492/3 | - | €2,320 | +€2,320 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,556 | €1,052 | -€2,505 | -70.4% |
| Other operating charges | 640/8 | €1,131 | €2,323 | +€1,192 | +105% |
| Non-recurring operating charges | 66A | - | €2,230 | +€2,230 | |
| Gross operating margin | 9900 | €42,064 | €13,858 | -€28,206 | -67.1% |
| Operating profit (loss) | 9901 | €37,376 | €8,253 | -€29,124 | -77.9% |
| Financial income | 75/76B | €1,608 | €10,164 | +€8,556 | +532% |
| Recurring financial income | 75 | €1,608 | €6,032 | +€4,424 | +275% |
| Non-recurring financial income | 76B | - | €4,132 | +€4,132 | |
| Financial charges | 65/66B | €354 | €3,077 | +€2,723 | +768% |
| Recurring financial charges | 65 | €354 | €3,077 | +€2,723 | +768% |
| Profit (loss) for the period before taxes | 9903 | €38,630 | €15,340 | -€23,290 | -60.3% |
| Income taxes | 67/77 | €7,700 | €5,071 | -€2,629 | -34.1% |
| Profit (loss) for the period | 9904 | €30,930 | €10,268 | -€20,661 | -66.8% |
| Profit (loss) for the period to be appropriated | 9905 | €30,930 | €10,268 | -€20,661 | -66.8% |
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 24 October 2026 via checked.be.