ISMAPA: 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.
ISMAPA
Largest movements
- Receivables within one year +€67,578
up €67,578 (+3.6%), from €1.9m to €2.0m
- Profit (loss) carried forward +€61,156
up €61,156 (+8.0%), from €762,447 to €823,603
- Financial income -€4,003
down €4,003 (-5.3%), from €75,381 to €71,378
- Gross operating margin +€3,073
up €3,073 (+63.8%), from -€4,817 to -€1,744
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 | €4,827,554 | €4,891,345 | +€63,791 | +1.3% |
| Fixed assets | 21/28 | €2,932,375 | €2,928,688 | -€3,688 | -0.1% |
| Tangible fixed assets | 22/27 | €2,932,375 | €2,928,688 | -€3,688 | -0.1% |
| Land and buildings | 22 | €2,932,375 | €2,928,688 | -€3,688 | -0.1% |
| Current assets | 29/58 | €1,895,179 | €1,962,657 | +€67,478 | +3.6% |
| Amounts receivable within one year | 40/41 | €1,894,890 | €1,962,468 | +€67,578 | +3.6% |
| Other amounts receivable | 41 | €1,894,890 | €1,962,468 | +€67,578 | +3.6% |
| Cash at bank and in hand | 54/58 | €289 | €189 | -€100 | -34.5% |
| Total equity and liabilities | 10/49 | €4,827,554 | €4,891,345 | +€63,791 | +1.3% |
| Equity | 10/15 | €4,799,343 | €4,863,718 | +€64,375 | +1.3% |
| Contributions | 10/11 | €4,000,000 | €4,000,000 | = | 0.0% |
| Capital | 10 | €4,000,000 | €4,000,000 | = | 0.0% |
| Issued capital | 100 | €4,000,000 | €4,000,000 | = | 0.0% |
| Reserves | 13 | €36,896 | €40,115 | +€3,219 | +8.7% |
| Non-distributable reserves | 130/1 | €36,896 | €40,115 | +€3,219 | +8.7% |
| Legal reserve | 130 | €36,896 | €40,115 | +€3,219 | +8.7% |
| Profit (loss) carried forward | 14 | €762,447 | €823,603 | +€61,156 | +8.0% |
| Amounts payable | 17/49 | €28,211 | €27,627 | -€584 | -2.1% |
| Amounts payable within one year | 42/48 | €28,211 | €27,627 | -€584 | -2.1% |
| Financial debts | 43 | €1,247 | €1,247 | = | 0.0% |
| Credit institutions | 430/8 | €1,247 | €1,247 | = | 0.0% |
| Trade debts | 44 | €26,964 | €23,681 | -€3,284 | -12.2% |
| Suppliers | 440/4 | €26,964 | €23,681 | -€3,284 | -12.2% |
| Other amounts payable | 47/48 | €0 | €2,700 | +€2,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,688 | €3,688 | = | 0.0% |
| Other operating charges | 640/8 | €1,497 | €1,542 | +€45 | +3.0% |
| Gross operating margin | 9900 | -€4,817 | -€1,744 | +€3,073 | +63.8% |
| Operating profit (loss) | 9901 | -€10,001 | -€6,974 | +€3,028 | +30.3% |
| Financial income | 75/76B | €75,381 | €71,378 | -€4,003 | -5.3% |
| Recurring financial income | 75 | €75,381 | €71,378 | -€4,003 | -5.3% |
| Financial charges | 65/66B | €30 | €30 | = | 0.0% |
| Recurring financial charges | 65 | €30 | €30 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €65,350 | €64,375 | -€975 | -1.5% |
| Profit (loss) for the period | 9904 | €65,350 | €64,375 | -€975 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €65,350 | €64,375 | -€975 | -1.5% |
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 10 October 2026 via checked.be.