ISMAL: 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.
ISMAL
Largest movements
- Receivables within one year +€17,380
up €17,380 (+16.8%), from €103,746 to €121,127
- Profit (loss) carried forward +€12,990
up €12,990 (+98.4%), from €13,195 to €26,185
- Debts within one year +€4,581
up €4,581 (+80.0%), from €5,725 to €10,305
- Gross operating margin +€17,038
up €17,038 (+267.1%), from €6,379 to €23,417
- Taxes +€5,550
up €5,550 (+316.3%), from €1,755 to €7,305
From the 2018 result to the 2019 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 2018 and 2019 balance sheets and the 2019 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2018 | 2019 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €110,590 | €128,160 | +€17,570 | +15.9% |
| Fixed assets | 21/28 | €5,846 | €5,591 | -€256 | -4.4% |
| Tangible fixed assets | 22/27 | €5,846 | €5,591 | -€256 | -4.4% |
| Current assets | 29/58 | €104,744 | €122,570 | +€17,826 | +17.0% |
| Amounts receivable within one year | 40/41 | €103,746 | €121,127 | +€17,380 | +16.8% |
| Cash at bank and in hand | 54/58 | €998 | €1,443 | +€446 | +44.7% |
| Total equity and liabilities | 10/49 | €110,590 | €128,160 | +€17,570 | +15.9% |
| Equity | 10/15 | €104,865 | €117,855 | +€12,990 | +12.4% |
| Contributions | 10/11 | €83,337 | €83,337 | = | 0.0% |
| Reserves | 13 | €8,334 | €8,334 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,195 | €26,185 | +€12,990 | +98.4% |
| Amounts payable | 17/49 | €5,725 | €10,305 | +€4,581 | +80.0% |
| Amounts payable within one year | 42/48 | €5,725 | €10,305 | +€4,581 | +80.0% |
| Trade debts | 44 | €1,183 | €1,156 | -€27 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €256 | €256 | = | 0.0% |
| Gross operating margin | 9900 | €6,379 | €23,417 | +€17,038 | +267.1% |
| Operating profit (loss) | 9901 | €4,859 | €21,380 | +€16,521 | +340.0% |
| Recurring financial charges | 65 | €355 | €1,085 | +€729 | +205.2% |
| Profit (loss) for the period before taxes | 9903 | €4,503 | €20,295 | +€15,792 | +350.7% |
| Income taxes | 67/77 | €1,755 | €7,305 | +€5,550 | +316.3% |
| Profit (loss) for the period | 9904 | €2,748 | €12,990 | +€10,242 | +372.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,748 | €12,990 | +€10,242 | +372.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2018 and 31 December 2019. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.