ISHOYO: 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.
ISHOYO
Largest movements
- Tangible fixed assets -€87,856
down €87,856 (-22.6%), from €389,311 to €301,455
of which Land and buildings: -€150,064
- Cash +€64,328
up €64,328 (+48.6%), from €132,236 to €196,564
mainly Trade debts (+€138,567) and Depreciation (+€90,315)
- Receivables within one year +€52,164
up €52,164 (+18.6%), from €279,732 to €331,896
of which Trade receivables: +€58,036
- Stocks and contracts -€11,687
down €11,687 (-37.2%), from €31,409 to €19,721
- Reserves -€162,296
down €162,296 (-90.9%), from €178,470 to €16,174
- Trade debts +€138,567
up €138,567 (+29.6%), from €468,832 to €607,399
- Tax, wage and social debts +€48,115
up €48,115 (+96.1%), from €50,071 to €98,186
of which Remuneration and social security: +€53,565
- Debts after one year -€43,511
down €43,511 (-39.6%), from €110,000 to €66,489
- Current portion of long-term debt +€18,846
up €18,846 (+773.9%), from €2,435 to €21,281
- Staff costs +€220,538
up €220,538 (+54.9%), from €401,723 to €622,260
- Gross operating margin +€62,570
up €62,570 (+11.6%), from €541,171 to €603,741
- Taxes -€43,805
down €43,805, from €29,288 to -€14,517
- Depreciation +€24,831
up €24,831 (+37.9%), from €65,484 to €90,315
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.
Cash bridge derived
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 | €843,271 | €852,450 | +€9,180 | +1.1% |
| Fixed assets | 21/28 | €389,311 | €301,455 | -€87,856 | -22.6% |
| Tangible fixed assets | 22/27 | €389,311 | €301,455 | -€87,856 | -22.6% |
| Land and buildings | 22 | €150,064 | - | -€150,064 | |
| Plant, machinery and equipment | 23 | €145,013 | €97,026 | -€47,987 | -33.1% |
| Furniture and vehicles | 24 | €94,235 | €74,977 | -€19,257 | -20.4% |
| Other tangible fixed assets | 26 | - | €129,452 | +€129,452 | |
| Current assets | 29/58 | €453,959 | €550,996 | +€97,036 | +21.4% |
| Stocks and contracts in progress | 3 | €31,409 | €19,721 | -€11,687 | -37.2% |
| Stocks | 30/36 | €31,409 | €19,721 | -€11,687 | -37.2% |
| Amounts receivable within one year | 40/41 | €279,732 | €331,896 | +€52,164 | +18.6% |
| Trade receivables | 40 | €158,378 | €216,414 | +€58,036 | +36.6% |
| Other amounts receivable | 41 | €121,355 | €115,482 | -€5,872 | -4.8% |
| Cash at bank and in hand | 54/58 | €132,236 | €196,564 | +€64,328 | +48.6% |
| Deferred charges and accrued income | 490/1 | €10,583 | €2,815 | -€7,768 | -73.4% |
| Total equity and liabilities | 10/49 | €843,271 | €852,450 | +€9,180 | +1.1% |
| Equity | 10/15 | €198,470 | €36,174 | -€162,296 | -81.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €178,470 | €16,174 | -€162,296 | -90.9% |
| Distributable reserves | 133 | €178,470 | €16,174 | -€162,296 | -90.9% |
| Amounts payable | 17/49 | €644,800 | €816,276 | +€171,476 | +26.6% |
| Amounts payable after more than one year | 17 | €110,000 | €66,489 | -€43,511 | -39.6% |
| Financial debts | 170/4 | €110,000 | €66,489 | -€43,511 | -39.6% |
| Amounts payable within one year | 42/48 | €534,800 | €749,788 | +€214,988 | +40.2% |
| Current portion of amounts payable after more than one year | 42 | €2,435 | €21,281 | +€18,846 | +773.9% |
| Financial debts | 43 | - | €3,376 | +€3,376 | |
| Credit institutions | 430/8 | - | €3,376 | +€3,376 | |
| Trade debts | 44 | €468,832 | €607,399 | +€138,567 | +29.6% |
| Suppliers | 440/4 | €468,832 | €607,399 | +€138,567 | +29.6% |
| Taxes, remuneration and social security | 45 | €50,071 | €98,186 | +€48,115 | +96.1% |
| Taxes | 450/3 | €22,151 | €16,701 | -€5,450 | -24.6% |
| Remuneration and social security | 454/9 | €27,920 | €81,485 | +€53,565 | +191.9% |
| Other amounts payable | 47/48 | €13,462 | €19,547 | +€6,084 | +45.2% |
| Remuneration, social security and pensions | 62 | €401,723 | €622,260 | +€220,538 | +54.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,484 | €90,315 | +€24,831 | +37.9% |
| Other operating charges | 640/8 | €506 | €1,603 | +€1,097 | +217.0% |
| Gross operating margin | 9900 | €541,171 | €603,741 | +€62,570 | +11.6% |
| Operating profit (loss) | 9901 | €73,458 | -€110,438 | -€183,896 | |
| Financial income | 75/76B | - | €241 | +€241 | |
| Recurring financial income | 75 | - | €241 | +€241 | |
| Financial charges | 65/66B | €1,673 | €6,617 | +€4,944 | +295.4% |
| Recurring financial charges | 65 | €1,673 | €6,617 | +€4,944 | +295.4% |
| Profit (loss) for the period before taxes | 9903 | €71,785 | -€116,814 | -€188,598 | |
| Income taxes | 67/77 | €29,288 | -€14,517 | -€43,805 | |
| Profit (loss) for the period | 9904 | €42,497 | -€102,296 | -€144,793 | |
| Profit (loss) for the period to be appropriated | 9905 | €42,497 | -€102,296 | -€144,793 |
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 12 October 2026 via checked.be.