ISOLUTION: what changed
Two fiscal 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
ISOLUTION
NACE 43.230, Insulation installation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€74,991
2024 · €24,589+€50,402
Equity
€474,871
2024 · €401,936+€72,934
Cash
€149,695
2024 · €139,070+€10,624
Balance sheet total
€2.2m
2024 · €2.2m+€54,695
Largest movements
Assets
- Formation expenses +€178,960
new in 2025: €178,960
- Tangible fixed assets -€101,595
down €101,595 (-23.6%), from €430,184 to €328,589
of which Furniture and vehicles: -€115,124
- Stocks and contracts -€63,931
down €63,931 (-13.1%), from €486,932 to €423,002
- Receivables within one year +€59,935
up €59,935 (+5.9%), from €1.0m to €1.1m
of which Other amounts receivable: +€157,341
Equity and liabilities
- Debts after one year -€163,873
down €163,873 (-48.7%), from €336,384 to €172,511
- Short-term financial debts +€100,000
up €100,000 (+22.2%), from €450,000 to €550,000
- Profit (loss) carried forward +€74,991
up €74,991 (+216.9%), from €34,581 to €109,572
- Trade debts +€61,314
up €61,314 (+15.7%), from €391,409 to €452,723
- Tax, wage and social debts -€31,565
down €31,565 (-10.8%), from €292,021 to €260,456
of which Remuneration and social security: -€34,935
Income statement
- Staff costs +€214,413
up €214,413 (+9.7%), from €2.2m to €2.4m
- Gross operating margin +€88,573
up €88,573 (+3.4%), from €2.6m to €2.7m
- Depreciation +€36,766
up €36,766 (+18.1%), from €203,053 to €239,819
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
€24,589
Gross operating margin
+€88,573
Staff costs
-€214,413
Depreciation
-€36,766
Other operating charges
-€9,730
Other operating items
+€212,080
Financial income
+€7,306
Financial charges
+€17,842
Taxes
-€14,489
Result 2025
€74,991
Cash bridge derived
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
+€359,200
Investment
-€302,003
Financing
-€46,572
Cash 2024
€139,070
From operations (derived)
+€359,200
Net result for the year
+€74,991
Depreciation
+€239,819
Stocks and contracts
+€63,931
Receivables within one year
-€59,935
Deferred charges and accrued income
+€14,118
Trade debts
+€61,314
Tax, wage and social debts
-€31,565
Advances received
-€7,474
Other debts
+€750
Accrued charges and deferred income
+€3,251
Investment (derived)
-€302,003
Investment in fixed assets (net)
-€302,003
Financing
-€46,572
Debts after one year
-€163,873
Current portion of long-term debt
+€19,357
Short-term financial debts
+€100,000
Contributions, distributions and other
-€2,057
Cash 2025
€149,695
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,181,981 | €2,236,676 | +€54,695 | +2.5% |
| Formation expenses | 20 | - | €178,960 | +€178,960 | |
| Fixed assets | 21/28 | €461,918 | €345,142 | -€116,776 | -25.3% |
| Intangible fixed assets | 21 | €26,442 | €11,156 | -€15,286 | -57.8% |
| Tangible fixed assets | 22/27 | €430,184 | €328,589 | -€101,595 | -23.6% |
| Land and buildings | 22 | €63,782 | €69,323 | +€5,541 | +8.7% |
| Plant, machinery and equipment | 23 | €101,452 | €67,625 | -€33,827 | -33.3% |
| Furniture and vehicles | 24 | €200,089 | €84,965 | -€115,124 | -57.5% |
| Leasing and similar rights | 25 | - | €19,447 | +€19,447 | |
| Other tangible fixed assets | 26 | €64,860 | €87,229 | +€22,369 | +34.5% |
| Financial fixed assets | 28 | €5,292 | €5,397 | +€105 | +2.0% |
| Current assets | 29/58 | €1,720,063 | €1,712,573 | -€7,490 | -0.4% |
| Stocks and contracts in progress | 3 | €486,932 | €423,002 | -€63,931 | -13.1% |
| Stocks | 30/36 | €486,932 | €423,002 | -€63,931 | -13.1% |
| Amounts receivable within one year | 40/41 | €1,015,613 | €1,075,548 | +€59,935 | +5.9% |
| Trade receivables | 40 | €383,236 | €285,830 | -€97,406 | -25.4% |
| Other amounts receivable | 41 | €632,377 | €789,718 | +€157,341 | +24.9% |
| Cash at bank and in hand | 54/58 | €139,070 | €149,695 | +€10,624 | +7.6% |
| Deferred charges and accrued income | 490/1 | €78,447 | €64,329 | -€14,118 | -18.0% |
| Total equity and liabilities | 10/49 | €2,181,981 | €2,236,676 | +€54,695 | +2.5% |
| Equity | 10/15 | €401,936 | €474,871 | +€72,934 | +18.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €326,825 | €326,825 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €324,325 | €324,325 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,581 | €109,572 | +€74,991 | +216.9% |
| Investment grants | 15 | €15,530 | €13,473 | -€2,057 | -13.2% |
| Provisions and deferred taxes | 16 | €24,601 | €24,601 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €24,601 | €24,601 | = | 0.0% |
| Other liabilities and charges | 164/5 | €24,601 | €24,601 | = | 0.0% |
| Amounts payable | 17/49 | €1,755,443 | €1,737,204 | -€18,239 | -1.0% |
| Amounts payable after more than one year | 17 | €336,384 | €172,511 | -€163,873 | -48.7% |
| Financial debts | 170/4 | €336,384 | €172,511 | -€163,873 | -48.7% |
| Amounts payable within one year | 42/48 | €1,397,623 | €1,540,005 | +€142,382 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €256,719 | €276,076 | +€19,357 | +7.5% |
| Financial debts | 43 | €450,000 | €550,000 | +€100,000 | +22.2% |
| Credit institutions | 430/8 | €450,000 | €550,000 | +€100,000 | +22.2% |
| Trade debts | 44 | €391,409 | €452,723 | +€61,314 | +15.7% |
| Suppliers | 440/4 | €391,409 | €452,723 | +€61,314 | +15.7% |
| Advances received on contracts in progress | 46 | €7,474 | €0 | -€7,474 | -100.0% |
| Taxes, remuneration and social security | 45 | €292,021 | €260,456 | -€31,565 | -10.8% |
| Taxes | 450/3 | €103,160 | €106,531 | +€3,371 | +3.3% |
| Remuneration and social security | 454/9 | €188,861 | €153,926 | -€34,935 | -18.5% |
| Other amounts payable | 47/48 | - | €750 | +€750 | |
| Accrued charges and deferred income | 492/3 | €21,436 | €24,688 | +€3,251 | +15.2% |
| Remuneration, social security and pensions | 62 | €2,212,633 | €2,427,046 | +€214,413 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €203,053 | €239,819 | +€36,766 | +18.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,076 | €7,076 | = | 0.0% |
| Other operating charges | 640/8 | €19,028 | €28,758 | +€9,730 | +51.1% |
| Operating charges capitalised as restructuring costs | 649 | - | -€212,080 | -€212,080 | |
| Gross operating margin | 9900 | €2,605,696 | €2,694,269 | +€88,573 | +3.4% |
| Operating profit (loss) | 9901 | €163,906 | €203,651 | +€39,744 | +24.2% |
| Financial income | 75/76B | €4,495 | €11,800 | +€7,306 | +162.5% |
| Recurring financial income | 75 | €4,495 | €4,509 | +€15 | +0.3% |
| Non-recurring financial income | 76B | €0 | €7,291 | +€7,291 | |
| Financial charges | 65/66B | €82,065 | €64,223 | -€17,842 | -21.7% |
| Recurring financial charges | 65 | €82,065 | €64,223 | -€17,842 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €86,336 | €151,227 | +€64,891 | +75.2% |
| Income taxes | 67/77 | €61,747 | €76,236 | +€14,489 | +23.5% |
| Profit (loss) for the period | 9904 | €24,589 | €74,991 | +€50,402 | +205.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,589 | €74,991 | +€50,402 | +205.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.