ISOR Group: 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.
ISOR Group
Largest movements
- Receivables within one year +€721,151
up €721,151 (+52.9%), from €1.4m to €2.1m
of which Other amounts receivable: +€425,768
- Cash +€195,759
up €195,759 (+64.9%), from €301,508 to €497,268
mainly Contributions, distributions and other (+€583,911) and Net result for the year (+€277,521)
- Reserves +€509,543
up €509,543 (+8218.4%), from €6,200 to €515,743
of which Distributable reserves: +€502,106
- Profit (loss) carried forward +€277,521
up €277,521 (+111.5%), from €248,819 to €526,340
- Contributions +€74,368
up €74,368 (+119.9%), from €62,000 to €136,368
- Trade debts +€36,798
up €36,798 (+7.7%), from €476,185 to €512,983
- Other debts +€28,063
up €28,063 (+2.8%), from €984,963 to €1.0m
- Gross operating margin +€290,555
up €290,555 (+22.1%), from €1.3m to €1.6m
- Staff costs +€153,727
up €153,727 (+26.9%), from €572,352 to €726,079
- Write-downs +€68,086
up €68,086 (+20.8%), from €327,237 to €395,323
- Financial charges -€18,114
down €18,114 (-59.8%), from €30,312 to €12,198
- Depreciation +€16,221
up €16,221 (+92.3%), from €17,574 to €33,795
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 | €1,856,700 | €2,801,370 | +€944,670 | +50.9% |
| Fixed assets | 21/28 | €146,285 | €182,964 | +€36,679 | +25.1% |
| Intangible fixed assets | 21 | €22,169 | €30,480 | +€8,311 | +37.5% |
| Tangible fixed assets | 22/27 | €120,367 | €142,537 | +€22,170 | +18.4% |
| Land and buildings | 22 | €28,865 | €28,865 | = | 0.0% |
| Plant, machinery and equipment | 23 | €34,673 | €47,547 | +€12,874 | +37.1% |
| Furniture and vehicles | 24 | €56,830 | €61,021 | +€4,192 | +7.4% |
| Leasing and similar rights | 25 | - | €1,064 | +€1,064 | |
| Other tangible fixed assets | 26 | - | €4,040 | +€4,040 | |
| Financial fixed assets | 28 | €3,749 | €9,947 | +€6,198 | +165.3% |
| Current assets | 29/58 | €1,710,415 | €2,618,406 | +€907,991 | +53.1% |
| Amounts receivable within one year | 40/41 | €1,362,293 | €2,083,444 | +€721,151 | +52.9% |
| Trade receivables | 40 | €1,217,021 | €1,512,404 | +€295,382 | +24.3% |
| Other amounts receivable | 41 | €145,271 | €571,040 | +€425,768 | +293.1% |
| Cash at bank and in hand | 54/58 | €301,508 | €497,268 | +€195,759 | +64.9% |
| Deferred charges and accrued income | 490/1 | €46,613 | €37,694 | -€8,919 | -19.1% |
| Total equity and liabilities | 10/49 | €1,856,700 | €2,801,370 | +€944,670 | +50.9% |
| Equity | 10/15 | €317,019 | €1,178,451 | +€861,432 | +271.7% |
| Contributions | 10/11 | €62,000 | €136,368 | +€74,368 | +119.9% |
| Capital | 10 | €62,000 | €136,368 | +€74,368 | +119.9% |
| Issued capital | 100 | €62,000 | €136,368 | +€74,368 | +119.9% |
| Reserves | 13 | €6,200 | €515,743 | +€509,543 | +8218.4% |
| Non-distributable reserves | 130/1 | €6,200 | €13,637 | +€7,437 | +119.9% |
| Legal reserve | 130 | €6,200 | €13,637 | +€7,437 | +119.9% |
| Distributable reserves | 133 | - | €502,106 | +€502,106 | |
| Profit (loss) carried forward | 14 | €248,819 | €526,340 | +€277,521 | +111.5% |
| Amounts payable | 17/49 | €1,539,681 | €1,622,919 | +€83,238 | +5.4% |
| Amounts payable after more than one year | 17 | €1,625 | - | -€1,625 | |
| Financial debts | 170/4 | €1,625 | - | -€1,625 | |
| Amounts payable within one year | 42/48 | €1,532,200 | €1,612,599 | +€80,399 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €10,267 | €7,118 | -€3,149 | -30.7% |
| Financial debts | 43 | - | €15,814 | +€15,814 | |
| Credit institutions | 430/8 | - | €15,814 | +€15,814 | |
| Trade debts | 44 | €476,185 | €512,983 | +€36,798 | +7.7% |
| Suppliers | 440/4 | €476,185 | €512,983 | +€36,798 | +7.7% |
| Taxes, remuneration and social security | 45 | €60,785 | €63,658 | +€2,873 | +4.7% |
| Taxes | 450/3 | - | €4,161 | +€4,161 | |
| Remuneration and social security | 454/9 | €60,785 | €59,497 | -€1,287 | -2.1% |
| Other amounts payable | 47/48 | €984,963 | €1,013,026 | +€28,063 | +2.8% |
| Accrued charges and deferred income | 492/3 | €5,855 | €10,320 | +€4,465 | +76.2% |
| Remuneration, social security and pensions | 62 | €572,352 | €726,079 | +€153,727 | +26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,574 | €33,795 | +€16,221 | +92.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €327,237 | €395,323 | +€68,086 | +20.8% |
| Other operating charges | 640/8 | €56,734 | €63,010 | +€6,277 | +11.1% |
| Gross operating margin | 9900 | €1,316,492 | €1,607,047 | +€290,555 | +22.1% |
| Operating profit (loss) | 9901 | €342,595 | €388,839 | +€46,245 | +13.5% |
| Financial income | 75/76B | €9,377 | €3,294 | -€6,083 | -64.9% |
| Recurring financial income | 75 | €9,377 | €3,294 | -€6,083 | -64.9% |
| Financial charges | 65/66B | €30,312 | €12,198 | -€18,114 | -59.8% |
| Recurring financial charges | 65 | €30,312 | €12,198 | -€18,114 | -59.8% |
| Profit (loss) for the period before taxes | 9903 | €321,659 | €379,935 | +€58,276 | +18.1% |
| Income taxes | 67/77 | €87,225 | €102,414 | +€15,189 | +17.4% |
| Profit (loss) for the period | 9904 | €234,434 | €277,521 | +€43,087 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €234,434 | €277,521 | +€43,087 | +18.4% |
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.