Isidore: 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.
Isidore
Largest movements
- Tangible fixed assets -€18,245
down €18,245 (-6.4%), from €284,016 to €265,771
of which Land and buildings: -€17,560
- Cash +€4,328
up €4,328 (+765%), from €566 to €4,894
mainly Depreciation (+€19,256) and Trade debts (+€5,468)
- Current investments -€3,788
no longer reported in 2025 (was €3,788)
- Debts after one year -€14,294
down €14,294 (-3.8%), from €378,718 to €364,424
- Profit (loss) carried forward -€11,820
down €11,820 (-15.7%), from -€75,149 to -€86,969
- Trade debts +€5,468
up €5,468 (+71.2%), from €7,681 to €13,149
- Other debts +€4,070
new in 2025: €4,070
- Provisions -€19,256
no longer reported in 2025 (was €19,256)
- Depreciation +€19,256
new in 2025: €19,256
- Gross operating margin +€13,013
up €13,013 (+482%), from €2,699 to €15,712
- Other operating charges +€789
up €789 (+41.5%), from €1,901 to €2,690
- Financial charges +€390
up €390 (+7.5%), from €5,196 to €5,587
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 | €330,123 | €316,712 | -€13,411 | -4.1% |
| Formation expenses | 20 | €626 | €126 | -€500 | -79.8% |
| Fixed assets | 21/28 | €284,863 | €266,107 | -€18,757 | -6.6% |
| Intangible fixed assets | 21 | €847 | €336 | -€511 | -60.3% |
| Tangible fixed assets | 22/27 | €284,016 | €265,771 | -€18,245 | -6.4% |
| Land and buildings | 22 | €281,938 | €264,378 | -€17,560 | -6.2% |
| Plant, machinery and equipment | 23 | €305 | €173 | -€132 | -43.3% |
| Furniture and vehicles | 24 | €1,773 | €1,220 | -€553 | -31.2% |
| Current assets | 29/58 | €44,633 | €50,479 | +€5,846 | +13.1% |
| Stocks and contracts in progress | 3 | €34,886 | €36,778 | +€1,893 | +5.4% |
| Stocks | 30/36 | €34,886 | €36,778 | +€1,893 | +5.4% |
| Amounts receivable within one year | 40/41 | €4,942 | €7,856 | +€2,914 | +59.0% |
| Trade receivables | 40 | €4,942 | €7,856 | +€2,914 | +59.0% |
| Current investments | 50/53 | €3,788 | - | -€3,788 | |
| Cash at bank and in hand | 54/58 | €566 | €4,894 | +€4,328 | +765% |
| Deferred charges and accrued income | 490/1 | €451 | €950 | +€499 | +111% |
| Total equity and liabilities | 10/49 | €330,123 | €316,712 | -€13,411 | -4.1% |
| Equity | 10/15 | -€73,149 | -€84,969 | -€11,820 | -16.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,149 | -€86,969 | -€11,820 | -15.7% |
| Amounts payable | 17/49 | €403,272 | €401,681 | -€1,591 | -0.4% |
| Amounts payable after more than one year | 17 | €378,718 | €364,424 | -€14,294 | -3.8% |
| Financial debts | 170/4 | €378,718 | €364,424 | -€14,294 | -3.8% |
| Amounts payable within one year | 42/48 | €24,145 | €35,544 | +€11,399 | +47.2% |
| Current portion of amounts payable after more than one year | 42 | €12,935 | €15,362 | +€2,427 | +18.8% |
| Trade debts | 44 | €7,681 | €13,149 | +€5,468 | +71.2% |
| Suppliers | 440/4 | €7,681 | €13,149 | +€5,468 | +71.2% |
| Advances received on contracts in progress | 46 | €2,800 | €2,800 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €729 | €163 | -€566 | -77.6% |
| Taxes | 450/3 | €729 | €163 | -€566 | -77.6% |
| Other amounts payable | 47/48 | - | €4,070 | +€4,070 | |
| Accrued charges and deferred income | 492/3 | €409 | €1,713 | +€1,304 | +319% |
| Non-recurring operating income | 76A | €139 | - | -€139 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €19,256 | +€19,256 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €19,256 | - | -€19,256 | |
| Other operating charges | 640/8 | €1,901 | €2,690 | +€789 | +41.5% |
| Gross operating margin | 9900 | €2,699 | €15,712 | +€13,013 | +482% |
| Operating profit (loss) | 9901 | -€18,459 | -€6,235 | +€12,224 | +66.2% |
| Financial income | 75/76B | €13 | €2 | -€11 | -86.1% |
| Recurring financial income | 75 | €13 | €2 | -€11 | -86.1% |
| Financial charges | 65/66B | €5,196 | €5,587 | +€390 | +7.5% |
| Recurring financial charges | 65 | €5,196 | €5,587 | +€390 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | -€23,643 | -€11,820 | +€11,823 | +50.0% |
| Income taxes | 67/77 | €1 | - | -€1 | |
| Profit (loss) for the period | 9904 | -€23,644 | -€11,820 | +€11,824 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,644 | -€11,820 | +€11,824 | +50.0% |
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 15 October 2026 via checked.be.