ISOFOR: what changed
What changed
ISOFOR
NACE 43.230, Insulation installation
filed annual accounts (NBB)
Net result for the year
€31,260
2024 · €30,092+€1,168
Equity
€150,964
2024 · €119,704+€31,260
Cash
€55,444
2024 · €49,933+€5,511
Balance sheet total
€369,993
2024 · €195,594+€174,399
Largest movements
Assets
- Tangible fixed assets +€190,109
up €190,109 (+219%), from €86,900 to €277,009
of which Leasing and similar rights: +€193,521
- Receivables within one year -€20,244
down €20,244 (-51.0%), from €39,700 to €19,456
of which Trade receivables: -€20,393
- Cash +€5,511
up €5,511 (+11.0%), from €49,933 to €55,444
mainly Debts after one year (+€143,448) and Net result for the year (+€31,260)
Equity and liabilities
- Debts after one year +€143,448
up €143,448 (+1,326%), from €10,819 to €154,267
- Reserves +€31,260
up €31,260 (+40.6%), from €76,937 to €108,197
- Tax, wage and social debts -€22,885
down €22,885 (-73.7%), from €31,061 to €8,176
of which Taxes: -€22,023
- Current portion of long-term debt +€21,281
up €21,281 (+221%), from €9,618 to €30,899
Income statement
- Gross operating margin +€12,028
up €12,028 (+12.3%), from €97,724 to €109,752
- Depreciation +€9,107
up €9,107 (+60.3%), from €15,104 to €24,211
- Taxes -€7,134
down €7,134 (-49.4%), from €14,454 to €7,320
- Staff costs +€5,287
up €5,287 (+14.6%), from €36,290 to €41,577
- Financial charges +€3,709
up €3,709 (+214%), from €1,737 to €5,446
Change in the result, 2024 to 2025
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 2024
€30,092
Gross operating margin
+€12,028
Staff costs
-€5,287
Depreciation
-€9,107
Other operating charges
+€1,008
Other operating items
-€547
Financial income
-€352
Financial charges
-€3,709
Taxes
+€7,134
Result 2025
€31,260
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€55,102
Investment
-€214,320
Financing
+€164,729
Cash 2024
€49,933
From operations (derived)
+€55,102
Net result for the year
+€31,260
Depreciation
+€24,211
Stocks and contracts
+€3,631
Receivables within one year
+€20,244
Deferred charges and accrued income
-€2,654
Trade debts
+€3,392
Tax, wage and social debts
-€22,885
Other debts
+€353
Accrued charges and deferred income
-€2,450
Investment (derived)
-€214,320
Investment in fixed assets (net)
-€214,320
Financing
+€164,729
Debts after one year
+€143,448
Current portion of long-term debt
+€21,281
Cash 2025
€55,444
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €195,594 | €369,993 | +€174,399 | +89.2% |
| Fixed assets | 21/28 | €87,135 | €277,244 | +€190,109 | +218% |
| Tangible fixed assets | 22/27 | €86,900 | €277,009 | +€190,109 | +219% |
| Plant, machinery and equipment | 23 | - | €1,033 | +€1,033 | |
| Furniture and vehicles | 24 | €28,325 | €19,789 | -€8,536 | -30.1% |
| Leasing and similar rights | 25 | - | €193,521 | +€193,521 | |
| Other tangible fixed assets | 26 | €58,575 | €62,666 | +€4,091 | +7.0% |
| Financial fixed assets | 28 | €235 | €235 | = | 0.0% |
| Current assets | 29/58 | €108,459 | €92,749 | -€15,710 | -14.5% |
| Stocks and contracts in progress | 3 | €15,180 | €11,549 | -€3,631 | -23.9% |
| Stocks | 30/36 | €15,180 | €11,549 | -€3,631 | -23.9% |
| Amounts receivable within one year | 40/41 | €39,700 | €19,456 | -€20,244 | -51.0% |
| Trade receivables | 40 | €38,923 | €18,530 | -€20,393 | -52.4% |
| Other amounts receivable | 41 | €777 | €926 | +€149 | +19.2% |
| Cash at bank and in hand | 54/58 | €49,933 | €55,444 | +€5,511 | +11.0% |
| Deferred charges and accrued income | 490/1 | €3,646 | €6,300 | +€2,654 | +72.8% |
| Total equity and liabilities | 10/49 | €195,594 | €369,993 | +€174,399 | +89.2% |
| Equity | 10/15 | €119,704 | €150,964 | +€31,260 | +26.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €76,937 | €108,197 | +€31,260 | +40.6% |
| Distributable reserves | 133 | €76,937 | €108,197 | +€31,260 | +40.6% |
| Profit (loss) carried forward | 14 | €30,367 | €30,367 | = | 0.0% |
| Amounts payable | 17/49 | €75,890 | €219,029 | +€143,139 | +189% |
| Amounts payable after more than one year | 17 | €10,819 | €154,267 | +€143,448 | +1,326% |
| Financial debts | 170/4 | €10,819 | €154,267 | +€143,448 | +1,326% |
| Amounts payable within one year | 42/48 | €62,270 | €64,411 | +€2,141 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €9,618 | €30,899 | +€21,281 | +221% |
| Trade debts | 44 | €19,220 | €22,612 | +€3,392 | +17.6% |
| Suppliers | 440/4 | €19,220 | €22,612 | +€3,392 | +17.6% |
| Taxes, remuneration and social security | 45 | €31,061 | €8,176 | -€22,885 | -73.7% |
| Taxes | 450/3 | €28,010 | €5,987 | -€22,023 | -78.6% |
| Remuneration and social security | 454/9 | €3,051 | €2,189 | -€862 | -28.3% |
| Other amounts payable | 47/48 | €2,371 | €2,724 | +€353 | +14.9% |
| Accrued charges and deferred income | 492/3 | €2,801 | €351 | -€2,450 | -87.5% |
| Remuneration, social security and pensions | 62 | €36,290 | €41,577 | +€5,287 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,104 | €24,211 | +€9,107 | +60.3% |
| Other operating charges | 640/8 | €8,321 | €7,313 | -€1,008 | -12.1% |
| Non-recurring operating charges | 66A | - | €547 | +€547 | |
| Gross operating margin | 9900 | €97,724 | €109,752 | +€12,028 | +12.3% |
| Operating profit (loss) | 9901 | €38,009 | €36,104 | -€1,905 | -5.0% |
| Financial income | 75/76B | €8,274 | €7,922 | -€352 | -4.3% |
| Recurring financial income | 75 | €6,836 | €6,178 | -€658 | -9.6% |
| Non-recurring financial income | 76B | €1,438 | €1,744 | +€306 | +21.3% |
| Financial charges | 65/66B | €1,737 | €5,446 | +€3,709 | +214% |
| Recurring financial charges | 65 | €1,737 | €5,446 | +€3,709 | +214% |
| Profit (loss) for the period before taxes | 9903 | €44,546 | €38,580 | -€5,966 | -13.4% |
| Income taxes | 67/77 | €14,454 | €7,320 | -€7,134 | -49.4% |
| Profit (loss) for the period | 9904 | €30,092 | €31,260 | +€1,168 | +3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €30,092 | €31,260 | +€1,168 | +3.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.