ISOLATION-MEDA-BEL: 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.
ISOLATION-MEDA-BEL
Largest movements
- Receivables within one year +€142,015
up €142,015 (+22.0%), from €646,058 to €788,074
of which Other amounts receivable: +€83,413
- Cash -€71,163
down €71,163 (-44.6%), from €159,445 to €88,282
mainly Receivables within one year (-€142,015) and Short-term financial debts (-€80,000)
- Tangible fixed assets -€38,413
down €38,413 (-10.9%), from €351,408 to €312,995
of which Furniture and vehicles: -€25,874
- Trade debts +€112,536
up €112,536 (+23.3%), from €482,293 to €594,829
- Short-term financial debts -€80,000
no longer reported in 2025 (was €80,000)
- Debts after one year -€43,871
down €43,871 (-17.6%), from €249,537 to €205,666
- Tax, wage and social debts +€29,427
new in 2025: €29,427
of which Remuneration and social security: +€24,039
- Staff costs -€51,274
down €51,274 (-4.5%), from €1.1m to €1.1m
- Gross operating margin -€45,595
down €45,595 (-3.7%), from €1.2m to €1.2m
- Financial income +€13,205
new in 2025: €13,205
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 | €1,248,530 | €1,277,269 | +€28,738 | +2.3% |
| Fixed assets | 21/28 | €352,278 | €313,865 | -€38,413 | -10.9% |
| Tangible fixed assets | 22/27 | €351,408 | €312,995 | -€38,413 | -10.9% |
| Land and buildings | 22 | €235,806 | €226,846 | -€8,960 | -3.8% |
| Furniture and vehicles | 24 | €112,023 | €86,149 | -€25,874 | -23.1% |
| Leasing and similar rights | 25 | €3,579 | - | -€3,579 | |
| Financial fixed assets | 28 | €870 | €870 | = | 0.0% |
| Current assets | 29/58 | €896,253 | €963,404 | +€67,151 | +7.5% |
| Stocks and contracts in progress | 3 | €86,800 | €86,800 | = | 0.0% |
| Contracts in progress | 37 | €86,800 | €86,800 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €646,058 | €788,074 | +€142,015 | +22.0% |
| Trade receivables | 40 | €427,196 | €485,798 | +€58,602 | +13.7% |
| Other amounts receivable | 41 | €218,862 | €302,276 | +€83,413 | +38.1% |
| Cash at bank and in hand | 54/58 | €159,445 | €88,282 | -€71,163 | -44.6% |
| Deferred charges and accrued income | 490/1 | €3,949 | €248 | -€3,701 | -93.7% |
| Total equity and liabilities | 10/49 | €1,248,530 | €1,277,269 | +€28,738 | +2.3% |
| Equity | 10/15 | €386,839 | €396,379 | +€9,539 | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €33,860 | €43,360 | +€9,500 | +28.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,000 | €32,000 | = | 0.0% |
| Distributable reserves | 133 | - | €9,500 | +€9,500 | |
| Profit (loss) carried forward | 14 | €334,379 | €334,419 | +€39 | 0.0% |
| Amounts payable | 17/49 | €861,691 | €880,890 | +€19,199 | +2.2% |
| Amounts payable after more than one year | 17 | €249,537 | €205,666 | -€43,871 | -17.6% |
| Financial debts | 170/4 | €249,537 | €205,666 | -€43,871 | -17.6% |
| Amounts payable within one year | 42/48 | €612,155 | €675,224 | +€63,070 | +10.3% |
| Current portion of amounts payable after more than one year | 42 | €49,021 | €50,968 | +€1,948 | +4.0% |
| Financial debts | 43 | €80,000 | - | -€80,000 | |
| Credit institutions | 430/8 | €80,000 | - | -€80,000 | |
| Trade debts | 44 | €482,293 | €594,829 | +€112,536 | +23.3% |
| Suppliers | 440/4 | €482,293 | €594,829 | +€112,536 | +23.3% |
| Taxes, remuneration and social security | 45 | - | €29,427 | +€29,427 | |
| Taxes | 450/3 | - | €5,387 | +€5,387 | |
| Remuneration and social security | 454/9 | - | €24,039 | +€24,039 | |
| Other amounts payable | 47/48 | €840 | - | -€840 | |
| Remuneration, social security and pensions | 62 | €1,140,475 | €1,089,201 | -€51,274 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,704 | €43,960 | +€3,256 | +8.0% |
| Other operating charges | 640/8 | €6,116 | €9,187 | +€3,070 | +50.2% |
| Gross operating margin | 9900 | €1,220,668 | €1,175,072 | -€45,595 | -3.7% |
| Operating profit (loss) | 9901 | €33,373 | €32,725 | -€648 | -1.9% |
| Financial income | 75/76B | - | €13,205 | +€13,205 | |
| Recurring financial income | 75 | - | €13,205 | +€13,205 | |
| Financial charges | 65/66B | €19,375 | €24,299 | +€4,924 | +25.4% |
| Recurring financial charges | 65 | €19,375 | €24,299 | +€4,924 | +25.4% |
| Profit (loss) for the period before taxes | 9903 | €13,998 | €21,630 | +€7,633 | +54.5% |
| Income taxes | 67/77 | €12,759 | €12,091 | -€668 | -5.2% |
| Profit (loss) for the period | 9904 | €1,239 | €9,539 | +€8,300 | +670% |
| Profit (loss) for the period to be appropriated | 9905 | €1,239 | €9,539 | +€8,300 | +670% |
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 26 October 2026 via checked.be.