ISO FULL: 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.
ISO FULL
Largest movements
- Cash -€3.1m
down €3.1m (-93.5%), from €3.3m to €214,110
- Receivables within one year -€1.8m
down €1.8m (-61.8%), from €2.9m to €1.1m
of which Trade receivables: -€1.4m
- Tangible fixed assets -€743,441
down €743,441 (-79.2%), from €938,841 to €195,399
of which Land and buildings: -€446,800
- Stocks and contracts +€394,808
up €394,808 (+70.3%), from €561,812 to €956,620
of which Contracts in progress: +€629,550
- Profit (loss) carried forward -€4.4m
down €4.4m (-97.4%), from €4.5m to €118,356
- Advances received +€688,506
up €688,506 (+10,788%), from €6,382 to €694,888
- Tax, wage and social debts -€565,666
down €565,666 (-79.8%), from €708,859 to €143,193
of which Taxes: -€569,990
- Trade debts -€496,730
down €496,730 (-31.7%), from €1.6m to €1.1m
- Current portion of long-term debt -€355,426
down €355,426 (-88.6%), from €401,245 to €45,820
- Turnover -€19.6m
no longer reported in 2025 (was €19.6m)
- Purchases and services -€14.4m
no longer reported in 2025 (was €14.4m)
- Gross operating margin -€6.3m
down €6.3m, from €5.5m to -€748,112
- Staff costs +€944,263
up €944,263 (+62.7%), from €1.5m to €2.5m
- Taxes -€927,802
down €927,802 (-98.2%), from €944,545 to €16,744
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,724,736 | €2,529,348 | -€5.2m | -67.3% |
| Fixed assets | 21/28 | €967,151 | €223,242 | -€743,909 | -76.9% |
| Intangible fixed assets | 21 | €6,811 | €6,343 | -€468 | -6.9% |
| Tangible fixed assets | 22/27 | €938,841 | €195,399 | -€743,441 | -79.2% |
| Land and buildings | 22 | €446,800 | - | -€446,800 | |
| Plant, machinery and equipment | 23 | €84,973 | €19,490 | -€65,483 | -77.1% |
| Furniture and vehicles | 24 | €276,707 | €77,617 | -€199,090 | -71.9% |
| Leasing and similar rights | 25 | €52,451 | €25,885 | -€26,566 | -50.6% |
| Other tangible fixed assets | 26 | €77,909 | €72,407 | -€5,502 | -7.1% |
| Financial fixed assets | 28 | €21,500 | €21,500 | = | 0.0% |
| Current assets | 29/58 | €6,757,585 | €2,306,106 | -€4.5m | -65.9% |
| Stocks and contracts in progress | 3 | €561,812 | €956,620 | +€394,808 | +70.3% |
| Stocks | 30/36 | €561,812 | €327,070 | -€234,742 | -41.8% |
| Contracts in progress | 37 | - | €629,550 | +€629,550 | |
| Amounts receivable within one year | 40/41 | €2,893,276 | €1,106,496 | -€1.8m | -61.8% |
| Trade receivables | 40 | €2,285,171 | €928,895 | -€1.4m | -59.4% |
| Other amounts receivable | 41 | €608,106 | €177,601 | -€430,505 | -70.8% |
| Cash at bank and in hand | 54/58 | €3,269,792 | €214,110 | -€3.1m | -93.5% |
| Deferred charges and accrued income | 490/1 | €32,705 | €28,881 | -€3,824 | -11.7% |
| Total equity and liabilities | 10/49 | €7,724,736 | €2,529,348 | -€5.2m | -67.3% |
| Equity | 10/15 | €4,908,770 | €518,812 | -€4.4m | -89.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €381,856 | €381,856 | = | 0.0% |
| Distributable reserves | 133 | €381,856 | €381,856 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,508,314 | €118,356 | -€4.4m | -97.4% |
| Amounts payable | 17/49 | €2,815,966 | €2,010,536 | -€805,430 | -28.6% |
| Amounts payable after more than one year | 17 | €113,664 | €42,016 | -€71,648 | -63.0% |
| Financial debts | 170/4 | €113,664 | €42,016 | -€71,648 | -63.0% |
| Amounts payable within one year | 42/48 | €2,690,302 | €1,968,520 | -€721,782 | -26.8% |
| Current portion of amounts payable after more than one year | 42 | €401,245 | €45,820 | -€355,426 | -88.6% |
| Trade debts | 44 | €1,565,292 | €1,068,562 | -€496,730 | -31.7% |
| Suppliers | 440/4 | €1,565,292 | €1,068,562 | -€496,730 | -31.7% |
| Advances received on contracts in progress | 46 | €6,382 | €694,888 | +€688,506 | +10,788% |
| Taxes, remuneration and social security | 45 | €708,859 | €143,193 | -€565,666 | -79.8% |
| Taxes | 450/3 | €580,753 | €10,763 | -€569,990 | -98.1% |
| Remuneration and social security | 454/9 | €128,106 | €132,430 | +€4,324 | +3.4% |
| Other amounts payable | 47/48 | €8,523 | €16,057 | +€7,534 | +88.4% |
| Accrued charges and deferred income | 492/3 | €12,000 | - | -€12,000 | |
| Turnover | 70 | €19,633,305 | - | -€19.6m | |
| Non-recurring operating income | 76A | €131,095 | €87,821 | -€43,274 | -33.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €14,363,967 | - | -€14.4m | |
| Remuneration, social security and pensions | 62 | €1,506,633 | €2,450,896 | +€944,263 | +62.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €173,007 | €239,243 | +€66,236 | +38.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €756,674 | +€756,674 | |
| Other operating charges | 640/8 | €37,037 | €53,859 | +€16,821 | +45.4% |
| Non-recurring operating charges | 66A | €26,178 | €72,097 | +€45,919 | +175% |
| Gross operating margin | 9900 | €5,510,269 | -€748,112 | -€6.3m | |
| Operating profit (loss) | 9901 | €3,767,414 | -€4,320,881 | -€8.1m | |
| Financial income | 75/76B | €2,269 | €18,796 | +€16,527 | +728% |
| Recurring financial income | 75 | €2,269 | €18,796 | +€16,527 | +728% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €38,369 | €71,129 | +€32,760 | +85.4% |
| Recurring financial charges | 65 | €38,369 | €71,129 | +€32,760 | +85.4% |
| Profit (loss) for the period before taxes | 9903 | €3,731,315 | -€4,373,214 | -€8.1m | |
| Income taxes | 67/77 | €944,545 | €16,744 | -€927,802 | -98.2% |
| Profit (loss) for the period | 9904 | €2,786,769 | -€4,389,958 | -€7.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €2,786,769 | -€4,389,958 | -€7.2m |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.