ISOBEL: 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.
ISOBEL
Largest movements
- Cash -€51,807
down €51,807 (-85.3%), from €60,753 to €8,946
mainly Net result for the year (-€31,263) and Receivables within one year (-€27,161)
- Receivables within one year +€27,161
up €27,161 (+62.0%), from €43,816 to €70,978
of which Trade receivables: +€33,043
- Tangible fixed assets +€11,440
up €11,440 (+106%), from €10,775 to €22,215
of which Furniture and vehicles: +€6,848
- Stocks and contracts +€2,944
up €2,944 (+9.2%), from €32,106 to €35,050
of which Contracts in progress: +€15,155
- Profit (loss) carried forward -€31,263
down €31,263 (-81.3%), from -€38,433 to -€69,695
- Trade debts +€27,008
up €27,008 (+39.8%), from €67,898 to €94,906
- Tax, wage and social debts -€7,247
down €7,247 (-71.8%), from €10,095 to €2,848
of which Remuneration and social security: -€3,691
- Accrued charges and deferred income -€6,114
no longer reported in 2025 (was €6,114)
- Debts after one year +€4,507
up €4,507 (+14.0%), from €32,302 to €36,809
- Staff costs +€77,622
up €77,622 (+308%), from €25,164 to €102,786
- Gross operating margin +€35,226
up €35,226 (+82.2%), from €42,878 to €78,104
- Taxes -€3,556
no longer reported in 2025 (was €3,556)
- Depreciation +€3,178
up €3,178 (+115%), from €2,755 to €5,934
- Financial income +€986
up €986 (+4,928,300%), from €0 to €986
of which Non-recurring financial income: +€983
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.
Derived cash bridge
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 | €147,451 | €137,865 | -€9,586 | -6.5% |
| Fixed assets | 21/28 | €10,775 | €22,215 | +€11,440 | +106% |
| Tangible fixed assets | 22/27 | €10,775 | €22,215 | +€11,440 | +106% |
| Plant, machinery and equipment | 23 | €4,320 | €8,466 | +€4,147 | +96.0% |
| Furniture and vehicles | 24 | €6,455 | €13,303 | +€6,848 | +106% |
| Other tangible fixed assets | 26 | - | €446 | +€446 | |
| Current assets | 29/58 | €136,675 | €115,650 | -€21,026 | -15.4% |
| Stocks and contracts in progress | 3 | €32,106 | €35,050 | +€2,944 | +9.2% |
| Stocks | 30/36 | €32,106 | €19,895 | -€12,211 | -38.0% |
| Contracts in progress | 37 | - | €15,155 | +€15,155 | |
| Amounts receivable within one year | 40/41 | €43,816 | €70,978 | +€27,161 | +62.0% |
| Trade receivables | 40 | €31,391 | €64,434 | +€33,043 | +105% |
| Other amounts receivable | 41 | €12,425 | €6,544 | -€5,881 | -47.3% |
| Cash at bank and in hand | 54/58 | €60,753 | €8,946 | -€51,807 | -85.3% |
| Deferred charges and accrued income | 490/1 | - | €676 | +€676 | |
| Total equity and liabilities | 10/49 | €147,451 | €137,865 | -€9,586 | -6.5% |
| Equity | 10/15 | €30,042 | -€1,220 | -€31,263 | |
| Contributions | 10/11 | €62,250 | €62,250 | = | 0.0% |
| Capital | 10 | €62,250 | €62,250 | = | 0.0% |
| Issued capital | 100 | €62,250 | €62,250 | = | 0.0% |
| Reserves | 13 | €6,225 | €6,225 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,225 | €6,225 | = | 0.0% |
| Legal reserve | 130 | €6,225 | €6,225 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,433 | -€69,695 | -€31,263 | -81.3% |
| Amounts payable | 17/49 | €117,408 | €139,085 | +€21,677 | +18.5% |
| Amounts payable after more than one year | 17 | €32,302 | €36,809 | +€4,507 | +14.0% |
| Financial debts | 170/4 | €32,302 | €36,809 | +€4,507 | +14.0% |
| Amounts payable within one year | 42/48 | €78,993 | €102,276 | +€23,283 | +29.5% |
| Current portion of amounts payable after more than one year | 42 | - | €3,469 | +€3,469 | |
| Trade debts | 44 | €67,898 | €94,906 | +€27,008 | +39.8% |
| Suppliers | 440/4 | €67,898 | €94,906 | +€27,008 | +39.8% |
| Taxes, remuneration and social security | 45 | €10,095 | €2,848 | -€7,247 | -71.8% |
| Taxes | 450/3 | €3,556 | - | -€3,556 | |
| Remuneration and social security | 454/9 | €6,539 | €2,848 | -€3,691 | -56.4% |
| Other amounts payable | 47/48 | €1,000 | €1,054 | +€54 | +5.4% |
| Accrued charges and deferred income | 492/3 | €6,114 | - | -€6,114 | |
| Remuneration, social security and pensions | 62 | €25,164 | €102,786 | +€77,622 | +308% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,755 | €5,934 | +€3,178 | +115% |
| Other operating charges | 640/8 | €999 | €1,073 | +€75 | +7.5% |
| Gross operating margin | 9900 | €42,878 | €78,104 | +€35,226 | +82.2% |
| Operating profit (loss) | 9901 | €13,960 | -€31,689 | -€45,649 | |
| Financial income | 75/76B | €0 | €986 | +€986 | +4,928,300% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +11,950% |
| Non-recurring financial income | 76B | - | €983 | +€983 | |
| Financial charges | 65/66B | €206 | €559 | +€353 | +171% |
| Recurring financial charges | 65 | €206 | €559 | +€353 | +171% |
| Profit (loss) for the period before taxes | 9903 | €13,754 | -€31,263 | -€45,017 | |
| Income taxes | 67/77 | €3,556 | - | -€3,556 | |
| Profit (loss) for the period | 9904 | €10,198 | -€31,263 | -€41,461 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,198 | -€31,263 | -€41,461 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.