ISHA CONSULT: 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.
ISHA CONSULT
Largest movements
- Deferred charges and accrued income +€20,032
up €20,032 (+810%), from €2,474 to €22,506
- Cash -€15,370
no longer reported in 2025 (was €15,370)
mainly Deferred charges and accrued income (-€20,032) and Net result for the year (-€15,842)
- Receivables within one year -€13,751
down €13,751 (-98.1%), from €14,014 to €263
of which Trade receivables: -€10,627
- Tangible fixed assets -€9,996
down €9,996 (-3.8%), from €266,041 to €256,045
of which Land and buildings: -€11,748
- Profit (loss) carried forward -€15,842
down €15,842 (-37.1%), from €42,735 to €26,893
- Debts after one year -€12,449
down €12,449 (-7.3%), from €169,485 to €157,036
of which Financial debts: -€12,449
- Short-term financial debts +€11,457
new in 2025: €11,457
- Gross operating margin -€23,969
down €23,969 (-64.9%), from €36,920 to €12,951
- Depreciation +€2,018
up €2,018 (+11.9%), from €16,985 to €19,002
- Other operating charges -€1,128
down €1,128 (-40.3%), from €2,799 to €1,671
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 | €324,456 | €305,371 | -€19,085 | -5.9% |
| Fixed assets | 21/28 | €292,598 | €282,602 | -€9,996 | -3.4% |
| Tangible fixed assets | 22/27 | €266,041 | €256,045 | -€9,996 | -3.8% |
| Land and buildings | 22 | €247,066 | €235,318 | -€11,748 | -4.8% |
| Plant, machinery and equipment | 23 | €680 | €340 | -€340 | -50.0% |
| Furniture and vehicles | 24 | €18,296 | €20,388 | +€2,092 | +11.4% |
| Financial fixed assets | 28 | €26,557 | €26,557 | = | 0.0% |
| Current assets | 29/58 | €31,858 | €22,769 | -€9,089 | -28.5% |
| Amounts receivable within one year | 40/41 | €14,014 | €263 | -€13,751 | -98.1% |
| Trade receivables | 40 | €10,890 | €263 | -€10,627 | -97.6% |
| Other amounts receivable | 41 | €3,124 | - | -€3,124 | |
| Cash at bank and in hand | 54/58 | €15,370 | - | -€15,370 | |
| Deferred charges and accrued income | 490/1 | €2,474 | €22,506 | +€20,032 | +810% |
| Total equity and liabilities | 10/49 | €324,456 | €305,371 | -€19,085 | -5.9% |
| Equity | 10/15 | €115,693 | €99,851 | -€15,842 | -13.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €60,558 | €60,558 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,198 | €22,198 | = | 0.0% |
| Distributable reserves | 133 | €38,360 | €38,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,735 | €26,893 | -€15,842 | -37.1% |
| Amounts payable | 17/49 | €208,762 | €205,520 | -€3,243 | -1.6% |
| Amounts payable after more than one year | 17 | €169,485 | €157,036 | -€12,449 | -7.3% |
| Financial debts | 170/4 | €167,257 | €154,808 | -€12,449 | -7.4% |
| Other amounts payable | 178/9 | €2,228 | €2,228 | = | 0.0% |
| Amounts payable within one year | 42/48 | €39,277 | €48,425 | +€9,148 | +23.3% |
| Current portion of amounts payable after more than one year | 42 | €12,036 | €12,486 | +€450 | +3.7% |
| Financial debts | 43 | - | €11,457 | +€11,457 | |
| Credit institutions | 430/8 | - | €11,457 | +€11,457 | |
| Trade debts | 44 | €6,663 | €6,415 | -€248 | -3.7% |
| Suppliers | 440/4 | €6,663 | €6,415 | -€248 | -3.7% |
| Taxes, remuneration and social security | 45 | €7,694 | €5,977 | -€1,716 | -22.3% |
| Taxes | 450/3 | €5,655 | €3,938 | -€1,716 | -30.4% |
| Remuneration and social security | 454/9 | €2,039 | €2,039 | = | 0.0% |
| Other amounts payable | 47/48 | €12,884 | €12,089 | -€795 | -6.2% |
| Accrued charges and deferred income | 492/3 | - | €59 | +€59 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,985 | €19,002 | +€2,018 | +11.9% |
| Other operating charges | 640/8 | €2,799 | €1,671 | -€1,128 | -40.3% |
| Non-recurring operating charges | 66A | €200 | €124 | -€76 | -38.0% |
| Gross operating margin | 9900 | €36,920 | €12,951 | -€23,969 | -64.9% |
| Operating profit (loss) | 9901 | €16,936 | -€7,847 | -€24,783 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €7,850 | €7,772 | -€78 | -1.0% |
| Recurring financial charges | 65 | €7,850 | €7,772 | -€78 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €9,086 | -€15,619 | -€24,705 | |
| Income taxes | 67/77 | €158 | €224 | +€65 | +41.2% |
| Profit (loss) for the period | 9904 | €8,928 | -€15,842 | -€24,770 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,928 | -€15,842 | -€24,770 |
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 20 October 2026 via checked.be.