ISO-VARIANT: 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.
ISO-VARIANT
Largest movements
- Receivables within one year -€91,398
down €91,398 (-52.5%), from €174,189 to €82,790
of which Trade receivables: -€103,472
- Cash +€9,908
up €9,908 (+27.7%), from €35,806 to €45,714
mainly Receivables within one year (+€91,398) and Accrued charges and deferred income (+€68,207)
- Deferred charges and accrued income -€5,892
down €5,892 (-49.5%), from €11,905 to €6,013
- Accrued charges and deferred income +€68,207
new in 2025: €68,207
- Advances received -€61,840
down €61,840 (-100.0%), from €61,840 to €0
- Profit (loss) carried forward -€46,282
down €46,282 (-129.0%), from -€35,878 to -€82,160
- Trade debts -€36,525
down €36,525 (-93.0%), from €39,270 to €2,745
- Tax, wage and social debts -€14,756
down €14,756 (-78.9%), from €18,703 to €3,948
- Gross operating margin -€67,392
down €67,392, from €26,035 to -€41,357
- Depreciation -€1,880
down €1,880 (-49.2%), from €3,824 to €1,944
- Financial charges +€645
up €645 (+23.8%), from €2,711 to €3,357
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 | €228,256 | €138,929 | -€89,327 | -39.1% |
| Fixed assets | 21/28 | €6,357 | €4,412 | -€1,944 | -30.6% |
| Tangible fixed assets | 22/27 | €6,207 | €4,262 | -€1,944 | -31.3% |
| Plant, machinery and equipment | 23 | €1,106 | €761 | -€345 | -31.2% |
| Furniture and vehicles | 24 | €498 | €0 | -€498 | -100.0% |
| Other tangible fixed assets | 26 | €4,602 | €3,502 | -€1,101 | -23.9% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €221,899 | €134,517 | -€87,382 | -39.4% |
| Amounts receivable within one year | 40/41 | €174,189 | €82,790 | -€91,398 | -52.5% |
| Trade receivables | 40 | €142,601 | €39,129 | -€103,472 | -72.6% |
| Other amounts receivable | 41 | €31,587 | €43,661 | +€12,074 | +38.2% |
| Cash at bank and in hand | 54/58 | €35,806 | €45,714 | +€9,908 | +27.7% |
| Deferred charges and accrued income | 490/1 | €11,905 | €6,013 | -€5,892 | -49.5% |
| Total equity and liabilities | 10/49 | €228,256 | €138,929 | -€89,327 | -39.1% |
| Equity | 10/15 | -€27,818 | -€74,100 | -€46,282 | -166.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,878 | -€82,160 | -€46,282 | -129.0% |
| Amounts payable | 17/49 | €256,074 | €213,029 | -€43,045 | -16.8% |
| Amounts payable after more than one year | 17 | €88,005 | €86,161 | -€1,844 | -2.1% |
| Financial debts | 170/4 | €88,005 | €86,161 | -€1,844 | -2.1% |
| Amounts payable within one year | 42/48 | €168,069 | €58,661 | -€109,408 | -65.1% |
| Trade debts | 44 | €39,270 | €2,745 | -€36,525 | -93.0% |
| Suppliers | 440/4 | €39,270 | €2,745 | -€36,525 | -93.0% |
| Advances received on contracts in progress | 46 | €61,840 | €0 | -€61,840 | -100.0% |
| Taxes, remuneration and social security | 45 | €18,703 | €3,948 | -€14,756 | -78.9% |
| Taxes | 450/3 | €18,703 | €3,948 | -€14,756 | -78.9% |
| Other amounts payable | 47/48 | €48,256 | €51,968 | +€3,712 | +7.7% |
| Accrued charges and deferred income | 492/3 | - | €68,207 | +€68,207 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,824 | €1,944 | -€1,880 | -49.2% |
| Other operating charges | 640/8 | €920 | €723 | -€198 | -21.5% |
| Gross operating margin | 9900 | €26,035 | -€41,357 | -€67,392 | |
| Operating profit (loss) | 9901 | €21,290 | -€44,024 | -€65,315 | |
| Financial income | 75/76B | €920 | €1,099 | +€179 | +19.4% |
| Recurring financial income | 75 | €920 | €1,099 | +€179 | +19.4% |
| Financial charges | 65/66B | €2,711 | €3,357 | +€645 | +23.8% |
| Recurring financial charges | 65 | €2,711 | €3,357 | +€645 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | €19,499 | -€46,282 | -€65,781 | |
| Profit (loss) for the period | 9904 | €19,499 | -€46,282 | -€65,781 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,499 | -€46,282 | -€65,781 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.