Isolants Victor Hallet: 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.
What changed
Isolants Victor Hallet
NACE 22.240, Manufacture of rubber and plastic products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€122,653
2024 · €53,761+€68,892
Equity
€1.6m
2024 · €1.5m+€109,264
Cash
€268,236
2024 · €136,377+€131,859
Balance sheet total
€7.2m
2024 · €6.4m+€784,582
Largest movements
Assets
- Tangible fixed assets +€625,714
up €625,714 (+28.3%), from €2.2m to €2.8m
of which Assets under construction and advance payments: +€916,482
- Receivables within one year +€341,160
up €341,160 (+36.0%), from €947,469 to €1.3m
of which Trade receivables: +€341,023
- Stocks and contracts -€195,744
down €195,744 (-16.1%), from €1.2m to €1.0m
- Cash +€131,859
up €131,859 (+96.7%), from €136,377 to €268,236
mainly Short-term financial debts (+€1.6m) and Depreciation (+€466,683)
- Intangible fixed assets -€113,509
down €113,509 (-11.4%), from €993,220 to €879,711
Equity and liabilities
- Short-term financial debts +€1.6m
up €1.6m (+245%), from €655,825 to €2.3m
of which Credit institutions: +€1.6m
- Current portion of long-term debt -€786,976
down €786,976 (-78.9%), from €997,610 to €210,634
- Other debts +€424,431
up €424,431 (+83.2%), from €510,330 to €934,761
- Debts after one year -€244,970
down €244,970 (-16.1%), from €1.5m to €1.3m
of which Financial debts: -€244,970
- Trade debts -€204,471
down €204,471 (-26.9%), from €760,196 to €555,725
Income statement
- Gross operating margin +€300,909
up €300,909 (+11.6%), from €2.6m to €2.9m
- Staff costs +€168,814
up €168,814 (+9.8%), from €1.7m to €1.9m
- Financial charges +€111,964
up €111,964 (+45.8%), from €244,554 to €356,518
- Provisions -€102,314
down €102,314, from €38,794 to -€63,520
- Financial income -€38,979
down €38,979 (-66.6%), from €58,552 to €19,573
of which Financial income: -€32,367
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.
Result 2024
€53,761
Gross operating margin
+€300,909
Staff costs
-€168,814
Depreciation
+€5,480
Write-downs
+€5,177
Provisions
+€102,314
Other operating charges
-€15,557
Other operating items
-€205
Financial income
-€38,979
Financial charges
-€111,964
Taxes
-€9,470
Deferred taxes and other
+€1
Result 2025
€122,653
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€548,477
Investment
-€978,888
Financing
+€562,270
Cash 2024
€136,377
From operations (derived)
+€548,477
Net result for the year
+€122,653
Depreciation
+€466,683
Stocks and contracts
+€195,744
Receivables within one year
-€341,160
Deferred charges and accrued income
+€4,898
Provisions
-€83,399
Trade debts
-€204,471
Tax, wage and social debts
-€58,533
Other debts
+€424,431
Accrued charges and deferred income
+€21,631
Investment (derived)
-€978,888
Investment in fixed assets (net)
-€978,888
Financing
+€562,270
Debts after one year
-€244,970
Current portion of long-term debt
-€786,976
Short-term financial debts
+€1.6m
Contributions, distributions and other
-€13,389
Cash 2025
€268,236
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,443,616 | €7,228,198 | +€784,582 | +12.2% |
| Fixed assets | 21/28 | €4,115,909 | €4,628,114 | +€512,205 | +12.4% |
| Intangible fixed assets | 21 | €993,220 | €879,711 | -€113,509 | -11.4% |
| Tangible fixed assets | 22/27 | €2,208,430 | €2,834,144 | +€625,714 | +28.3% |
| Land and buildings | 22 | €1,345,987 | €1,218,075 | -€127,912 | -9.5% |
| Plant, machinery and equipment | 23 | €275,473 | €150,695 | -€124,778 | -45.3% |
| Furniture and vehicles | 24 | €33,945 | €68,212 | +€34,267 | +101% |
| Leasing and similar rights | 25 | €356,879 | €284,534 | -€72,345 | -20.3% |
| Assets under construction and advance payments | 27 | €196,146 | €1,112,628 | +€916,482 | +467% |
| Financial fixed assets | 28 | €914,259 | €914,259 | = | 0.0% |
| Current assets | 29/58 | €2,327,707 | €2,600,084 | +€272,377 | +11.7% |
| Stocks and contracts in progress | 3 | €1,217,345 | €1,021,601 | -€195,744 | -16.1% |
| Stocks | 30/36 | €1,217,345 | €1,021,601 | -€195,744 | -16.1% |
| Amounts receivable within one year | 40/41 | €947,469 | €1,288,629 | +€341,160 | +36.0% |
| Trade receivables | 40 | €945,740 | €1,286,763 | +€341,023 | +36.1% |
| Other amounts receivable | 41 | €1,729 | €1,866 | +€137 | +7.9% |
| Cash at bank and in hand | 54/58 | €136,377 | €268,236 | +€131,859 | +96.7% |
| Deferred charges and accrued income | 490/1 | €26,516 | €21,618 | -€4,898 | -18.5% |
| Total equity and liabilities | 10/49 | €6,443,616 | €7,228,198 | +€784,582 | +12.2% |
| Equity | 10/15 | €1,466,103 | €1,575,367 | +€109,264 | +7.5% |
| Contributions | 10/11 | €506,000 | €506,000 | = | 0.0% |
| Capital | 10 | €506,000 | €506,000 | = | 0.0% |
| Issued capital | 100 | €506,000 | €506,000 | = | 0.0% |
| Revaluation surpluses | 12 | €73,744 | €57,083 | -€16,661 | -22.6% |
| Reserves | 13 | €768,503 | €829,082 | +€60,579 | +7.9% |
| Non-distributable reserves | 130/1 | €50,600 | €50,600 | = | 0.0% |
| Legal reserve | 130 | €50,600 | €50,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,372 | €10,291 | -€6,081 | -37.1% |
| Distributable reserves | 133 | €701,531 | €768,191 | +€66,660 | +9.5% |
| Profit (loss) carried forward | 14 | €75,045 | €147,699 | +€72,654 | +96.8% |
| Investment grants | 15 | €42,811 | €35,503 | -€7,308 | -17.1% |
| Provisions and deferred taxes | 16 | €107,561 | €24,162 | -€83,399 | -77.5% |
| Provisions for liabilities and charges | 160/5 | €80,688 | - | -€80,688 | |
| Other liabilities and charges | 164/5 | €80,688 | - | -€80,688 | |
| Deferred taxes | 168 | €26,873 | €24,162 | -€2,711 | -10.1% |
| Amounts payable | 17/49 | €4,869,952 | €5,628,669 | +€758,717 | +15.6% |
| Amounts payable after more than one year | 17 | €1,518,082 | €1,273,112 | -€244,970 | -16.1% |
| Financial debts | 170/4 | €1,517,482 | €1,272,512 | -€244,970 | -16.1% |
| Other amounts payable | 178/9 | €600 | €600 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,331,820 | €4,313,876 | +€982,056 | +29.5% |
| Current portion of amounts payable after more than one year | 42 | €997,610 | €210,634 | -€786,976 | -78.9% |
| Financial debts | 43 | €655,825 | €2,263,430 | +€1.6m | +245% |
| Credit institutions | 430/8 | €650,000 | €2,263,430 | +€1.6m | +248% |
| Other loans | 439 | €5,825 | - | -€5,825 | |
| Trade debts | 44 | €760,196 | €555,725 | -€204,471 | -26.9% |
| Suppliers | 440/4 | €760,196 | €555,725 | -€204,471 | -26.9% |
| Taxes, remuneration and social security | 45 | €407,859 | €349,326 | -€58,533 | -14.4% |
| Taxes | 450/3 | €198,515 | €138,155 | -€60,360 | -30.4% |
| Remuneration and social security | 454/9 | €209,344 | €211,171 | +€1,827 | +0.9% |
| Other amounts payable | 47/48 | €510,330 | €934,761 | +€424,431 | +83.2% |
| Accrued charges and deferred income | 492/3 | €20,050 | €41,681 | +€21,631 | +108% |
| Remuneration, social security and pensions | 62 | €1,715,559 | €1,884,373 | +€168,814 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €472,163 | €466,683 | -€5,480 | -1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,878 | €6,701 | -€5,177 | -43.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €38,794 | -€63,520 | -€102,314 | |
| Other operating charges | 640/8 | €41,812 | €57,369 | +€15,557 | +37.2% |
| Non-recurring operating charges | 66A | €65 | €270 | +€205 | +315% |
| Gross operating margin | 9900 | €2,592,020 | €2,892,929 | +€300,909 | +11.6% |
| Operating profit (loss) | 9901 | €311,749 | €541,053 | +€229,304 | +73.6% |
| Financial income | 75/76B | €58,552 | €19,573 | -€38,979 | -66.6% |
| Recurring financial income | 75 | €51,940 | €19,573 | -€32,367 | -62.3% |
| Non-recurring financial income | 76B | €6,612 | - | -€6,612 | |
| Financial charges | 65/66B | €244,554 | €356,518 | +€111,964 | +45.8% |
| Recurring financial charges | 65 | €244,554 | €356,518 | +€111,964 | +45.8% |
| Profit (loss) for the period before taxes | 9903 | €125,747 | €204,108 | +€78,361 | +62.3% |
| Transfer from deferred taxes | 780 | €8,791 | €8,792 | +€1 | 0.0% |
| Income taxes | 67/77 | €80,777 | €90,247 | +€9,470 | +11.7% |
| Profit (loss) for the period | 9904 | €53,761 | €122,653 | +€68,892 | +128% |
| Profit (loss) for the period to be appropriated | 9905 | €53,761 | €122,653 | +€68,892 | +128% |
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 24 October 2026 via checked.be.