ISO-K ADVICE: what changed
What changed
ISO-K ADVICE
NACE 43.230, Insulation installation
filed annual accounts (NBB)
Net result for the year
€10,517
2025 · €7,022+€3,495
Equity
€542,151
2025 · €545,719-€3,568
Cash
€177,723
2025 · €144,064+€33,659
Balance sheet total
€866,130
2025 · €946,916-€80,786
Largest movements
Assets
- Stocks and contracts -€70,622
down €70,622 (-42.0%), from €168,000 to €97,378
- Cash +€33,659
up €33,659 (+23.4%), from €144,064 to €177,723
mainly Stocks and contracts (+€70,622) and Trade debts (+€60,511)
- Receivables within one year -€26,556
down €26,556 (-8.0%), from €333,633 to €307,077
of which Trade receivables: -€115,491
- Tangible fixed assets -€10,021
down €10,021 (-3.6%), from €280,271 to €270,250
of which Furniture and vehicles: -€19,803
Equity and liabilities
- Other debts -€106,338
down €106,338 (-61.1%), from €174,143 to €67,805
- Trade debts +€60,511
up €60,511 (+51.2%), from €118,184 to €178,695
- Debts after one year -€25,226
down €25,226 (-44.5%), from €56,632 to €31,406
Income statement
- Write-downs +€51,058
new in 2026: €51,058
- Staff costs -€40,205
down €40,205 (-11.4%), from €353,788 to €313,583
- Gross operating margin +€9,102
up €9,102 (+2.3%), from €401,425 to €410,527
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€7,022
Gross operating margin
+€9,102
Staff costs
+€40,205
Depreciation
-€1,331
Write-downs
-€51,058
Other operating charges
+€3,541
Financial income
+€1,703
Financial charges
+€1,375
Taxes
-€42
Result 2026
€10,517
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€96,468
Investment
-€15,450
Financing
-€47,359
Cash 2025
€144,064
From operations (derived)
+€96,468
Net result for the year
+€10,517
Depreciation
+€24,326
Stocks and contracts
+€70,622
Receivables within one year
+€26,556
Deferred charges and accrued income
+€8,391
Trade debts
+€60,511
Tax, wage and social debts
+€1,883
Other debts
-€106,338
Investment (derived)
-€15,450
Investment in fixed assets (net)
-€15,450
Financing
-€47,359
Debts after one year
-€25,226
Current portion of long-term debt
-€8,048
Contributions, distributions and other
-€14,085
Cash 2026
€177,723
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €946,916 | €866,130 | -€80,786 | -8.5% |
| Fixed assets | 21/28 | €289,315 | €280,439 | -€8,876 | -3.1% |
| Tangible fixed assets | 22/27 | €280,271 | €270,250 | -€10,021 | -3.6% |
| Land and buildings | 22 | €215,053 | €226,928 | +€11,875 | +5.5% |
| Plant, machinery and equipment | 23 | €10,189 | €8,096 | -€2,093 | -20.5% |
| Furniture and vehicles | 24 | €55,029 | €35,226 | -€19,803 | -36.0% |
| Financial fixed assets | 28 | €9,044 | €10,189 | +€1,145 | +12.7% |
| Current assets | 29/58 | €657,601 | €585,691 | -€71,910 | -10.9% |
| Stocks and contracts in progress | 3 | €168,000 | €97,378 | -€70,622 | -42.0% |
| Contracts in progress | 37 | €168,000 | €97,378 | -€70,622 | -42.0% |
| Amounts receivable within one year | 40/41 | €333,633 | €307,077 | -€26,556 | -8.0% |
| Trade receivables | 40 | €298,864 | €183,373 | -€115,491 | -38.6% |
| Other amounts receivable | 41 | €34,769 | €123,704 | +€88,935 | +256% |
| Cash at bank and in hand | 54/58 | €144,064 | €177,723 | +€33,659 | +23.4% |
| Deferred charges and accrued income | 490/1 | €11,904 | €3,513 | -€8,391 | -70.5% |
| Total equity and liabilities | 10/49 | €946,916 | €866,130 | -€80,786 | -8.5% |
| Equity | 10/15 | €545,719 | €542,151 | -€3,568 | -0.7% |
| Contributions | 10/11 | €82,431 | €82,431 | = | 0.0% |
| Reserves | 13 | €463,000 | €459,500 | -€3,500 | -0.8% |
| Distributable reserves | 133 | €463,000 | €459,500 | -€3,500 | -0.8% |
| Profit (loss) carried forward | 14 | €288 | €220 | -€68 | -23.6% |
| Amounts payable | 17/49 | €401,197 | €323,979 | -€77,218 | -19.2% |
| Amounts payable after more than one year | 17 | €56,632 | €31,406 | -€25,226 | -44.5% |
| Financial debts | 170/4 | €56,632 | €31,406 | -€25,226 | -44.5% |
| Amounts payable within one year | 42/48 | €344,565 | €292,573 | -€51,992 | -15.1% |
| Current portion of amounts payable after more than one year | 42 | €33,274 | €25,226 | -€8,048 | -24.2% |
| Trade debts | 44 | €118,184 | €178,695 | +€60,511 | +51.2% |
| Suppliers | 440/4 | €118,184 | €178,695 | +€60,511 | +51.2% |
| Taxes, remuneration and social security | 45 | €18,964 | €20,847 | +€1,883 | +9.9% |
| Taxes | 450/3 | €8,288 | €8,412 | +€124 | +1.5% |
| Remuneration and social security | 454/9 | €10,676 | €12,435 | +€1,759 | +16.5% |
| Other amounts payable | 47/48 | €174,143 | €67,805 | -€106,338 | -61.1% |
| Remuneration, social security and pensions | 62 | €353,788 | €313,583 | -€40,205 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,995 | €24,326 | +€1,331 | +5.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €51,058 | +€51,058 | |
| Other operating charges | 640/8 | €6,784 | €3,243 | -€3,541 | -52.2% |
| Gross operating margin | 9900 | €401,425 | €410,527 | +€9,102 | +2.3% |
| Operating profit (loss) | 9901 | €17,858 | €18,317 | +€459 | +2.6% |
| Financial income | 75/76B | €740 | €2,443 | +€1,703 | +230% |
| Recurring financial income | 75 | €740 | €2,443 | +€1,703 | +230% |
| Financial charges | 65/66B | €3,066 | €1,691 | -€1,375 | -44.8% |
| Recurring financial charges | 65 | €3,066 | €1,691 | -€1,375 | -44.8% |
| Profit (loss) for the period before taxes | 9903 | €15,532 | €19,069 | +€3,537 | +22.8% |
| Income taxes | 67/77 | €8,510 | €8,552 | +€42 | +0.5% |
| Profit (loss) for the period | 9904 | €7,022 | €10,517 | +€3,495 | +49.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,022 | €10,517 | +€3,495 | +49.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.