ISICEM: 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.
ISICEM
Largest movements
- Current investments -€231,857
down €231,857 (-6.5%), from €3.6m to €3.4m
- Cash -€192,420
down €192,420 (-30.8%), from €623,881 to €431,461
mainly Receivables within one year (-€133,069) and Net result for the year (-€120,080)
- Receivables within one year +€133,069
up €133,069 (+18.4%), from €724,158 to €857,227
of which Trade receivables: +€79,129
- Profit (loss) carried forward -€120,080
down €120,080 (-5.2%), from €2.3m to €2.2m
- Accrued charges and deferred income -€107,829
down €107,829 (-7.6%), from €1.4m to €1.3m
- Gross operating margin +€754,729
up €754,729 (+642%), from €117,612 to €872,341
- Financial income -€52,859
down €52,859 (-43.2%), from €122,320 to €69,461
- Staff costs +€46,005
up €46,005 (+5.0%), from €914,223 to €960,228
- Other operating charges +€24,461
up €24,461 (+70.7%), from €34,594 to €59,055
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 | €5,039,280 | €4,742,814 | -€296,466 | -5.9% |
| Fixed assets | 21/28 | €3,000 | €3,000 | = | 0.0% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €5,036,281 | €4,739,815 | -€296,466 | -5.9% |
| Amounts receivable within one year | 40/41 | €724,158 | €857,227 | +€133,069 | +18.4% |
| Trade receivables | 40 | €724,158 | €803,287 | +€79,129 | +10.9% |
| Other amounts receivable | 41 | - | €53,940 | +€53,940 | |
| Current investments | 50/53 | €3,588,198 | €3,356,341 | -€231,857 | -6.5% |
| Cash at bank and in hand | 54/58 | €623,881 | €431,461 | -€192,420 | -30.8% |
| Deferred charges and accrued income | 490/1 | €100,044 | €94,786 | -€5,258 | -5.3% |
| Total equity and liabilities | 10/49 | €5,039,280 | €4,742,814 | -€296,466 | -5.9% |
| Equity | 10/15 | €2,290,753 | €2,170,673 | -€120,080 | -5.2% |
| Profit (loss) carried forward | 14 | €2,290,753 | €2,170,673 | -€120,080 | -5.2% |
| Provisions and deferred taxes | 16 | €884,153 | €884,153 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €884,153 | €884,153 | = | 0.0% |
| Environmental obligations | 163 | €884,153 | - | -€884,153 | |
| Other liabilities and charges | 164/5 | - | €884,153 | +€884,153 | |
| Amounts payable | 17/49 | €1,864,373 | €1,687,988 | -€176,386 | -9.5% |
| Amounts payable within one year | 42/48 | €440,630 | €372,073 | -€68,557 | -15.6% |
| Financial debts | 43 | - | €2,362 | +€2,362 | |
| Credit institutions | 430/8 | - | €2,362 | +€2,362 | |
| Trade debts | 44 | €297,292 | €256,253 | -€41,040 | -13.8% |
| Suppliers | 440/4 | €297,292 | €256,253 | -€41,040 | -13.8% |
| Taxes, remuneration and social security | 45 | €143,338 | €113,183 | -€30,155 | -21.0% |
| Taxes | 450/3 | €18,492 | €594 | -€17,898 | -96.8% |
| Remuneration and social security | 454/9 | €124,846 | €112,589 | -€12,257 | -9.8% |
| Accrued charges and deferred income | 492/3 | €1,423,743 | €1,315,915 | -€107,829 | -7.6% |
| Non-recurring operating income | 76A | €6,709 | €0 | -€6,709 | -100% |
| Remuneration, social security and pensions | 62 | €914,223 | €960,228 | +€46,005 | +5.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €65 | €0 | -€65 | -100% |
| Other operating charges | 640/8 | €34,594 | €59,055 | +€24,461 | +70.7% |
| Gross operating margin | 9900 | €117,612 | €872,341 | +€754,729 | +642% |
| Operating profit (loss) | 9901 | -€831,270 | -€146,942 | +€684,329 | +82.3% |
| Financial income | 75/76B | €122,320 | €69,461 | -€52,859 | -43.2% |
| Recurring financial income | 75 | €122,320 | €69,461 | -€52,859 | -43.2% |
| Financial charges | 65/66B | €37,282 | €42,600 | +€5,318 | +14.3% |
| Recurring financial charges | 65 | €37,282 | €42,600 | +€5,318 | +14.3% |
| Profit (loss) for the period before taxes | 9903 | -€746,232 | -€120,080 | +€626,152 | +83.9% |
| Profit (loss) for the period | 9904 | -€746,232 | -€120,080 | +€626,152 | +83.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€746,232 | -€120,080 | +€626,152 | +83.9% |
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 14 October 2026 via checked.be.