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
- Receivables within one year -€69,316
down €69,316 (-46.8%), from €148,159 to €78,843
of which Trade receivables: -€70,020
- Tangible fixed assets -€47,751
down €47,751 (-54.2%), from €88,078 to €40,327
of which Furniture and vehicles: -€44,443
- Receivables after one year +€10,074
up €10,074 (+9.1%), from €110,272 to €120,346
- Trade debts -€43,611
down €43,611 (-43.7%), from €99,898 to €56,288
- Tax, wage and social debts -€24,361
down €24,361 (-49.3%), from €49,407 to €25,046
of which Taxes: -€20,253
- Other debts -€16,000
no longer reported in 2025 (was €16,000)
- Debts after one year -€15,868
down €15,868 (-33.5%), from €47,345 to €31,477
- Current portion of long-term debt -€8,076
down €8,076 (-33.7%), from €23,943 to €15,868
- Gross operating margin -€33,165
down €33,165 (-20.8%), from €159,408 to €126,243
- Staff costs -€10,405
down €10,405 (-14.9%), from €70,039 to €59,634
- Financial charges -€5,427
down €5,427 (-47.7%), from €11,388 to €5,961
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 | €362,016 | €256,559 | -€105,457 | -29.1% |
| Fixed assets | 21/28 | €88,078 | €40,327 | -€47,751 | -54.2% |
| Tangible fixed assets | 22/27 | €88,078 | €40,327 | -€47,751 | -54.2% |
| Plant, machinery and equipment | 23 | €10,788 | €7,481 | -€3,308 | -30.7% |
| Furniture and vehicles | 24 | €77,290 | €32,847 | -€44,443 | -57.5% |
| Current assets | 29/58 | €273,938 | €216,232 | -€57,706 | -21.1% |
| Amounts receivable after more than one year | 29 | €110,272 | €120,346 | +€10,074 | +9.1% |
| Other amounts receivable | 291 | €110,272 | €120,346 | +€10,074 | +9.1% |
| Amounts receivable within one year | 40/41 | €148,159 | €78,843 | -€69,316 | -46.8% |
| Trade receivables | 40 | €145,136 | €75,115 | -€70,020 | -48.2% |
| Other amounts receivable | 41 | €3,024 | €3,728 | +€704 | +23.3% |
| Cash at bank and in hand | 54/58 | €11,174 | €13,075 | +€1,901 | +17.0% |
| Deferred charges and accrued income | 490/1 | €4,332 | €3,968 | -€365 | -8.4% |
| Total equity and liabilities | 10/49 | €362,016 | €256,559 | -€105,457 | -29.1% |
| Equity | 10/15 | €125,422 | €127,880 | +€2,458 | +2.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €26,860 | €28,860 | +€2,000 | +7.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €25,000 | €27,000 | +€2,000 | +8.0% |
| Profit (loss) carried forward | 14 | €94,562 | €95,020 | +€458 | +0.5% |
| Amounts payable | 17/49 | €236,594 | €128,679 | -€107,915 | -45.6% |
| Amounts payable after more than one year | 17 | €47,345 | €31,477 | -€15,868 | -33.5% |
| Financial debts | 170/4 | €47,345 | €31,477 | -€15,868 | -33.5% |
| Amounts payable within one year | 42/48 | €189,249 | €97,202 | -€92,047 | -48.6% |
| Current portion of amounts payable after more than one year | 42 | €23,943 | €15,868 | -€8,076 | -33.7% |
| Trade debts | 44 | €99,898 | €56,288 | -€43,611 | -43.7% |
| Suppliers | 440/4 | €99,898 | €56,288 | -€43,611 | -43.7% |
| Taxes, remuneration and social security | 45 | €49,407 | €25,046 | -€24,361 | -49.3% |
| Taxes | 450/3 | €33,214 | €12,961 | -€20,253 | -61.0% |
| Remuneration and social security | 454/9 | €16,193 | €12,085 | -€4,108 | -25.4% |
| Other amounts payable | 47/48 | €16,000 | - | -€16,000 | |
| Remuneration, social security and pensions | 62 | €70,039 | €59,634 | -€10,405 | -14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,030 | €47,751 | -€279 | -0.6% |
| Other operating charges | 640/8 | €8,753 | €7,866 | -€887 | -10.1% |
| Gross operating margin | 9900 | €159,408 | €126,243 | -€33,165 | -20.8% |
| Operating profit (loss) | 9901 | €32,587 | €10,993 | -€21,593 | -66.3% |
| Financial income | 75/76B | €4,370 | €2,847 | -€1,523 | -34.9% |
| Recurring financial income | 75 | €4,370 | €2,847 | -€1,523 | -34.9% |
| Financial charges | 65/66B | €11,388 | €5,961 | -€5,427 | -47.7% |
| Recurring financial charges | 65 | €11,388 | €5,961 | -€5,427 | -47.7% |
| Profit (loss) for the period before taxes | 9903 | €25,569 | €7,880 | -€17,689 | -69.2% |
| Income taxes | 67/77 | €4,525 | €5,422 | +€896 | +19.8% |
| Profit (loss) for the period | 9904 | €21,044 | €2,458 | -€18,586 | -88.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,044 | €2,458 | -€18,586 | -88.3% |
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 17 October 2026 via checked.be.