Isolatiewerken Vertessen: what changed
What changed
Isolatiewerken Vertessen
NACE 43.230, Insulation installation
filed annual accounts (NBB)
Net result for the year
€31,450
2024 · -€8,757+€40,207
Equity
-€13,313
2024 · -€44,763+€31,450
Cash
€70,315
2024 · -+€70,315
Balance sheet total
€112,220
2024 · €69,648+€42,572
Largest movements
Assets
- Cash +€70,315
new in 2025: €70,315
mainly Receivables within one year (+€35,805) and Debts after one year (+€33,571)
- Receivables within one year -€35,805
down €35,805 (-62.5%), from €57,295 to €21,489
of which Trade receivables: -€25,176
- Tangible fixed assets +€7,985
up €7,985 (+75.9%), from €10,525 to €18,511
Equity and liabilities
- Debts after one year +€33,571
new in 2025: €33,571
- Profit (loss) carried forward +€31,450
up €31,450 (+59.4%), from -€52,923 to -€21,473
- Short-term financial debts -€13,438
no longer reported in 2025 (was €13,438)
- Trade debts -€9,681
down €9,681 (-13.1%), from €73,788 to €64,107
- Current portion of long-term debt +€9,522
new in 2025: €9,522
Income statement
- Gross operating margin +€40,875
up €40,875 (+39.1%), from €104,493 to €145,369
- Depreciation +€5,308
up €5,308 (+119%), from €4,459 to €9,767
- Staff costs -€4,456
down €4,456 (-4.5%), from €99,604 to €95,147
- Financial charges +€1,558
up €1,558 (+24.0%), from €6,495 to €8,053
of which Financial charges: +€2,259
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
-€8,757
Gross operating margin
+€40,875
Staff costs
+€4,456
Depreciation
-€5,308
Other operating charges
+€484
Financial income
+€1,257
Financial charges
-€1,558
Taxes
-€0
Result 2025
€31,450
raises the resultlowers the result
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
+€58,412
Investment
-€17,752
Financing
+€29,655
Cash 2024
€0
From operations (derived)
+€58,412
Net result for the year
+€31,450
Depreciation
+€9,767
Receivables within one year
+€35,805
Deferred charges and accrued income
-€77
Trade debts
-€9,681
Tax, wage and social debts
-€8,853
Investment (derived)
-€17,752
Investment in fixed assets (net)
-€17,752
Financing
+€29,655
Debts after one year
+€33,571
Current portion of long-term debt
+€9,522
Short-term financial debts
-€13,438
Cash 2025
€70,315
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €69,648 | €112,220 | +€42,572 | +61.1% |
| Fixed assets | 21/28 | €10,525 | €18,511 | +€7,985 | +75.9% |
| Tangible fixed assets | 22/27 | €10,525 | €18,511 | +€7,985 | +75.9% |
| Plant, machinery and equipment | 23 | €10,525 | €18,511 | +€7,985 | +75.9% |
| Current assets | 29/58 | €59,123 | €93,710 | +€34,587 | +58.5% |
| Amounts receivable within one year | 40/41 | €57,295 | €21,489 | -€35,805 | -62.5% |
| Trade receivables | 40 | €31,224 | €6,048 | -€25,176 | -80.6% |
| Other amounts receivable | 41 | €26,071 | €15,441 | -€10,630 | -40.8% |
| Cash at bank and in hand | 54/58 | - | €70,315 | +€70,315 | |
| Deferred charges and accrued income | 490/1 | €1,828 | €1,906 | +€77 | +4.2% |
| Total equity and liabilities | 10/49 | €69,648 | €112,220 | +€42,572 | +61.1% |
| Equity | 10/15 | -€44,763 | -€13,313 | +€31,450 | +70.3% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,923 | -€21,473 | +€31,450 | +59.4% |
| Amounts payable | 17/49 | €114,411 | €125,533 | +€11,122 | +9.7% |
| Amounts payable after more than one year | 17 | - | €33,571 | +€33,571 | |
| Financial debts | 170/4 | - | €33,571 | +€33,571 | |
| Amounts payable within one year | 42/48 | €114,411 | €91,962 | -€22,450 | -19.6% |
| Current portion of amounts payable after more than one year | 42 | - | €9,522 | +€9,522 | |
| Financial debts | 43 | €13,438 | - | -€13,438 | |
| Credit institutions | 430/8 | €13,438 | - | -€13,438 | |
| Trade debts | 44 | €73,788 | €64,107 | -€9,681 | -13.1% |
| Suppliers | 440/4 | €73,788 | €64,107 | -€9,681 | -13.1% |
| Taxes, remuneration and social security | 45 | €14,818 | €5,965 | -€8,853 | -59.7% |
| Taxes | 450/3 | €4,176 | €5,965 | +€1,790 | +42.9% |
| Remuneration and social security | 454/9 | €10,642 | - | -€10,642 | |
| Other amounts payable | 47/48 | €12,368 | €12,368 | = | 0.0% |
| Non-recurring operating income | 76A | - | €100,000 | +€100,000 | |
| Remuneration, social security and pensions | 62 | €99,604 | €95,147 | -€4,456 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,459 | €9,767 | +€5,308 | +119% |
| Other operating charges | 640/8 | €2,959 | €2,475 | -€484 | -16.3% |
| Gross operating margin | 9900 | €104,493 | €145,369 | +€40,875 | +39.1% |
| Operating profit (loss) | 9901 | -€2,528 | €37,979 | +€40,508 | |
| Financial income | 75/76B | €452 | €1,709 | +€1,257 | +278% |
| Recurring financial income | 75 | €452 | €1,709 | +€1,257 | +278% |
| Financial charges | 65/66B | €6,495 | €8,053 | +€1,558 | +24.0% |
| Recurring financial charges | 65 | €5,794 | €8,053 | +€2,259 | +39.0% |
| Non-recurring financial charges | 66B | €701 | - | -€701 | |
| Profit (loss) for the period before taxes | 9903 | -€8,571 | €31,636 | +€40,207 | |
| Income taxes | 67/77 | €185 | €185 | +€0 | +0.1% |
| Profit (loss) for the period | 9904 | -€8,757 | €31,450 | +€40,207 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,757 | €31,450 | +€40,207 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.