ISOPROJECT: 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.
ISOPROJECT
Largest movements
- Receivables within one year +€378,156
up €378,156 (+47.6%), from €794,872 to €1.2m
of which Trade receivables: +€374,691
- Tangible fixed assets -€72,669
down €72,669 (-21.3%), from €341,299 to €268,630
of which Furniture and vehicles: -€38,514
- Cash +€31,716
up €31,716 (+558.9%), from €5,675 to €37,391
mainly Trade debts (+€218,430) and Net result for the year (+€176,595)
- Trade debts +€218,430
up €218,430 (+57.4%), from €380,339 to €598,770
- Profit (loss) carried forward +€109,803
up €109,803 (+40.9%), from €268,696 to €378,500
- Reserves +€66,792
up €66,792 (+26.6%), from €251,318 to €318,110
of which Tax-exempt reserves: +€66,792
- Debts after one year -€48,757
down €48,757 (-28.9%), from €168,421 to €119,665
of which Financial debts: -€44,389
- Gross operating margin +€254,205
up €254,205 (+48.7%), from €521,950 to €776,155
- Depreciation -€15,364
down €15,364 (-13.9%), from €110,161 to €94,797
- Other operating charges -€15,138
down €15,138 (-31.9%), from €47,437 to €32,299
- Taxes +€12,618
up €12,618 (+1238.3%), from €1,019 to €13,637
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,261,095 | €1,591,449 | +€330,355 | +26.2% |
| Fixed assets | 21/28 | €361,965 | €292,803 | -€69,162 | -19.1% |
| Intangible fixed assets | 21 | €6,492 | €4,475 | -€2,017 | -31.1% |
| Tangible fixed assets | 22/27 | €341,299 | €268,630 | -€72,669 | -21.3% |
| Land and buildings | 22 | €176,397 | €150,172 | -€26,225 | -14.9% |
| Plant, machinery and equipment | 23 | €48,903 | €41,357 | -€7,546 | -15.4% |
| Furniture and vehicles | 24 | €115,615 | €77,101 | -€38,514 | -33.3% |
| Leasing and similar rights | 25 | €383 | €0 | -€383 | -100.0% |
| Financial fixed assets | 28 | €14,175 | €19,699 | +€5,524 | +39.0% |
| Current assets | 29/58 | €899,130 | €1,298,646 | +€399,516 | +44.4% |
| Stocks and contracts in progress | 3 | €62,830 | €50,400 | -€12,430 | -19.8% |
| Stocks | 30/36 | €62,830 | €50,400 | -€12,430 | -19.8% |
| Amounts receivable within one year | 40/41 | €794,872 | €1,173,028 | +€378,156 | +47.6% |
| Trade receivables | 40 | €718,459 | €1,093,150 | +€374,691 | +52.2% |
| Other amounts receivable | 41 | €76,412 | €79,878 | +€3,465 | +4.5% |
| Cash at bank and in hand | 54/58 | €5,675 | €37,391 | +€31,716 | +558.9% |
| Deferred charges and accrued income | 490/1 | €35,753 | €37,828 | +€2,075 | +5.8% |
| Total equity and liabilities | 10/49 | €1,261,095 | €1,591,449 | +€330,355 | +26.2% |
| Equity | 10/15 | €555,623 | €729,512 | +€173,889 | +31.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €251,318 | €318,110 | +€66,792 | +26.6% |
| 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 | €249,458 | €316,250 | +€66,792 | +26.8% |
| Profit (loss) carried forward | 14 | €268,696 | €378,500 | +€109,803 | +40.9% |
| Investment grants | 15 | €17,008 | €14,302 | -€2,706 | -15.9% |
| Amounts payable | 17/49 | €705,472 | €861,938 | +€156,466 | +22.2% |
| Amounts payable after more than one year | 17 | €168,421 | €119,665 | -€48,757 | -28.9% |
| Financial debts | 170/4 | €148,796 | €104,407 | -€44,389 | -29.8% |
| Other amounts payable | 178/9 | €19,625 | €15,258 | -€4,368 | -22.3% |
| Amounts payable within one year | 42/48 | €521,443 | €723,359 | +€201,916 | +38.7% |
| Current portion of amounts payable after more than one year | 42 | €112,775 | €97,422 | -€15,353 | -13.6% |
| Trade debts | 44 | €380,339 | €598,770 | +€218,430 | +57.4% |
| Suppliers | 440/4 | €380,339 | €598,770 | +€218,430 | +57.4% |
| Advances received on contracts in progress | 46 | €9,558 | €10,594 | +€1,037 | +10.8% |
| Taxes, remuneration and social security | 45 | €18,771 | €16,547 | -€2,224 | -11.8% |
| Taxes | 450/3 | €488 | €25 | -€462 | -94.8% |
| Remuneration and social security | 454/9 | €18,284 | €16,522 | -€1,762 | -9.6% |
| Other amounts payable | 47/48 | - | €26 | +€26 | |
| Accrued charges and deferred income | 492/3 | €15,608 | €18,914 | +€3,306 | +21.2% |
| Remuneration, social security and pensions | 62 | €457,154 | €461,473 | +€4,319 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,161 | €94,797 | -€15,364 | -13.9% |
| Other operating charges | 640/8 | €47,437 | €32,299 | -€15,138 | -31.9% |
| Gross operating margin | 9900 | €521,950 | €776,155 | +€254,205 | +48.7% |
| Operating profit (loss) | 9901 | -€92,801 | €187,587 | +€280,388 | |
| Financial income | 75/76B | €19,686 | €14,837 | -€4,849 | -24.6% |
| Recurring financial income | 75 | €19,686 | €14,837 | -€4,849 | -24.6% |
| Financial charges | 65/66B | €17,117 | €12,192 | -€4,924 | -28.8% |
| Recurring financial charges | 65 | €17,117 | €12,192 | -€4,924 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | -€90,231 | €190,232 | +€280,463 | |
| Income taxes | 67/77 | €1,019 | €13,637 | +€12,618 | +1238.3% |
| Profit (loss) for the period | 9904 | -€91,250 | €176,595 | +€267,845 | |
| Transfer to tax-exempt reserves | 689 | €0 | €66,792 | +€66,792 | |
| Profit (loss) for the period to be appropriated | 9905 | -€91,250 | €109,803 | +€201,053 |
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 5 October 2026 via checked.be.