ISHIA: 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.
ISHIA
Largest movements
- Cash -€6,890
down €6,890 (-13.3%), from €51,696 to €44,806
mainly Receivables after one year (-€6,498) and Debts after one year (-€4,755)
- Tangible fixed assets -€6,598
down €6,598 (-8.8%), from €75,221 to €68,623
of which Land and buildings: -€6,250
- Receivables after one year +€6,498
up €6,498 (+6.1%), from €106,445 to €112,943
- Debts after one year -€4,755
down €4,755 (-13.3%), from €35,842 to €31,087
- Reserves -€3,388
down €3,388 (-1.8%), from €192,840 to €189,451
of which Distributable reserves: -€3,388
- Gross operating margin -€9,701
down €9,701 (-80.8%), from €12,011 to €2,310
- Taxes -€1,860
down €1,860 (-89.3%), from €2,083 to €224
- Financial charges -€447
down €447 (-11.7%), from €3,810 to €3,363
- Depreciation +€356
up €356 (+4.9%), from €7,337 to €7,693
From the 2025 result to the 2026 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.
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €259,663 | €254,393 | -€5,270 | -2.0% |
| Fixed assets | 21/28 | €75,221 | €68,623 | -€6,598 | -8.8% |
| Tangible fixed assets | 22/27 | €75,221 | €68,623 | -€6,598 | -8.8% |
| Land and buildings | 22 | €72,500 | €66,250 | -€6,250 | -8.6% |
| Furniture and vehicles | 24 | €2,721 | €2,373 | -€348 | -12.8% |
| Current assets | 29/58 | €184,442 | €185,770 | +€1,328 | +0.7% |
| Amounts receivable after more than one year | 29 | €106,445 | €112,943 | +€6,498 | +6.1% |
| Trade receivables | 290 | €106,445 | €112,943 | +€6,498 | +6.1% |
| Amounts receivable within one year | 40/41 | €17,185 | €19,055 | +€1,869 | +10.9% |
| Trade receivables | 40 | €7,346 | €6,051 | -€1,295 | -17.6% |
| Other amounts receivable | 41 | €9,839 | €13,004 | +€3,164 | +32.2% |
| Current investments | 50/53 | €1,200 | €1,200 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €51,696 | €44,806 | -€6,890 | -13.3% |
| Deferred charges and accrued income | 490/1 | €7,916 | €7,766 | -€150 | -1.9% |
| Total equity and liabilities | 10/49 | €259,663 | €254,393 | -€5,270 | -2.0% |
| Equity | 10/15 | €213,740 | €210,351 | -€3,388 | -1.6% |
| Contributions | 10/11 | €20,900 | €20,900 | = | 0.0% |
| Outside capital | 11 | €20,900 | €20,900 | = | 0.0% |
| Other | 1109/19 | €20,900 | €20,900 | = | 0.0% |
| Reserves | 13 | €192,840 | €189,451 | -€3,388 | -1.8% |
| Tax-exempt reserves | 132 | €1,265 | €1,265 | = | 0.0% |
| Distributable reserves | 133 | €191,575 | €188,186 | -€3,388 | -1.8% |
| Amounts payable | 17/49 | €45,924 | €44,042 | -€1,882 | -4.1% |
| Amounts payable after more than one year | 17 | €35,842 | €31,087 | -€4,755 | -13.3% |
| Financial debts | 170/4 | €35,842 | €31,087 | -€4,755 | -13.3% |
| Amounts payable within one year | 42/48 | €10,082 | €12,955 | +€2,873 | +28.5% |
| Current portion of amounts payable after more than one year | 42 | €4,641 | €4,755 | +€114 | +2.5% |
| Trade debts | 44 | €2,546 | €3,050 | +€504 | +19.8% |
| Suppliers | 440/4 | €2,546 | €3,050 | +€504 | +19.8% |
| Taxes, remuneration and social security | 45 | €2,894 | €5,150 | +€2,255 | +77.9% |
| Taxes | 450/3 | €2,894 | €3,150 | +€255 | +8.8% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Remuneration, social security and pensions | 62 | €44 | €45 | +€0 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,337 | €7,693 | +€356 | +4.9% |
| Other operating charges | 640/8 | €1,129 | €1,021 | -€108 | -9.6% |
| Gross operating margin | 9900 | €12,011 | €2,310 | -€9,701 | -80.8% |
| Operating profit (loss) | 9901 | €3,500 | -€6,449 | -€9,949 | |
| Financial income | 75/76B | €6,737 | €6,647 | -€90 | -1.3% |
| Recurring financial income | 75 | €6,737 | €6,647 | -€90 | -1.3% |
| Financial charges | 65/66B | €3,810 | €3,363 | -€447 | -11.7% |
| Recurring financial charges | 65 | €3,810 | €3,363 | -€447 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €6,427 | -€3,165 | -€9,592 | |
| Income taxes | 67/77 | €2,083 | €224 | -€1,860 | -89.3% |
| Profit (loss) for the period | 9904 | €4,344 | -€3,388 | -€7,733 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,344 | -€3,388 | -€7,733 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.