ISOSPRAY 2.0: what changed
ISOSPRAY 2.0
Largest movements
- Receivables within one year +€92,467
up €92,467 (+113%), from €81,858 to €174,325
of which Other amounts receivable: +€134,738
- Cash -€72,760
down €72,760 (-93.1%), from €78,142 to €5,382
mainly Receivables within one year (-€92,467) and Tax, wage and social debts (-€89,543)
- Tangible fixed assets -€61,590
down €61,590 (-9.4%), from €656,671 to €595,082
- Stocks and contracts -€25,000
no longer reported in 2025 (was €25,000)
- Tax, wage and social debts -€89,543
down €89,543 (-92.0%), from €97,297 to €7,754
of which Taxes: -€91,897
- Profit (loss) carried forward +€24,504
up €24,504 (+93.4%), from -€26,245 to -€1,742
- Debts after one year -€24,216
down €24,216 (-5.2%), from €465,655 to €441,438
- Accrued charges and deferred income +€19,200
new in 2025: €19,200
- Other debts +€10,573
up €10,573 (+43.0%), from €24,600 to €35,173
- Gross operating margin +€71,290
up €71,290 (+75.0%), from €95,078 to €166,368
- Financial charges -€25,059
down €25,059 (-53.5%), from €46,861 to €21,802
of which Non-recurring financial charges: -€27,607
- Depreciation +€19,200
up €19,200 (+26.2%), from €73,204 to €92,403
- Taxes +€9,514
up €9,514 (+404%), from €2,356 to €11,870
- Other operating charges -€5,767
down €5,767 (-48.6%), from €11,872 to €6,105
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €857,371 | €794,974 | -€62,397 | -7.3% |
| Fixed assets | 21/28 | €656,671 | €595,082 | -€61,590 | -9.4% |
| Tangible fixed assets | 22/27 | €656,671 | €595,082 | -€61,590 | -9.4% |
| Land and buildings | 22 | €546,355 | €516,840 | -€29,515 | -5.4% |
| Plant, machinery and equipment | 23 | €52,377 | €35,742 | -€16,635 | -31.8% |
| Furniture and vehicles | 24 | €57,940 | €42,500 | -€15,440 | -26.6% |
| Current assets | 29/58 | €200,700 | €199,892 | -€807 | -0.4% |
| Stocks and contracts in progress | 3 | €25,000 | - | -€25,000 | |
| Contracts in progress | 37 | €25,000 | - | -€25,000 | |
| Amounts receivable within one year | 40/41 | €81,858 | €174,325 | +€92,467 | +113% |
| Trade receivables | 40 | €81,858 | €39,588 | -€42,271 | -51.6% |
| Other amounts receivable | 41 | - | €134,738 | +€134,738 | |
| Cash at bank and in hand | 54/58 | €78,142 | €5,382 | -€72,760 | -93.1% |
| Deferred charges and accrued income | 490/1 | €15,699 | €20,185 | +€4,486 | +28.6% |
| Total equity and liabilities | 10/49 | €857,371 | €794,974 | -€62,397 | -7.3% |
| Equity | 10/15 | €246,566 | €271,070 | +€24,504 | +9.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €254,261 | €254,261 | = | 0.0% |
| Distributable reserves | 133 | €254,261 | €254,261 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,245 | -€1,742 | +€24,504 | +93.4% |
| Amounts payable | 17/49 | €610,805 | €523,904 | -€86,901 | -14.2% |
| Amounts payable after more than one year | 17 | €465,655 | €441,438 | -€24,216 | -5.2% |
| Financial debts | 170/4 | €465,655 | €441,438 | -€24,216 | -5.2% |
| Amounts payable within one year | 42/48 | €145,150 | €63,266 | -€81,884 | -56.4% |
| Current portion of amounts payable after more than one year | 42 | €17,270 | €18,067 | +€797 | +4.6% |
| Trade debts | 44 | €5,983 | €2,271 | -€3,712 | -62.0% |
| Suppliers | 440/4 | €5,983 | €2,271 | -€3,712 | -62.0% |
| Taxes, remuneration and social security | 45 | €97,297 | €7,754 | -€89,543 | -92.0% |
| Taxes | 450/3 | €97,297 | €5,400 | -€91,897 | -94.4% |
| Remuneration and social security | 454/9 | - | €2,354 | +€2,354 | |
| Other amounts payable | 47/48 | €24,600 | €35,173 | +€10,573 | +43.0% |
| Accrued charges and deferred income | 492/3 | - | €19,200 | +€19,200 | |
| Non-recurring operating income | 76A | - | €137,419 | +€137,419 | |
| Remuneration, social security and pensions | 62 | €19,419 | €19,374 | -€45 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,204 | €92,403 | +€19,200 | +26.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€32,310 | -€27,274 | +€5,036 | +15.6% |
| Other operating charges | 640/8 | €11,872 | €6,105 | -€5,767 | -48.6% |
| Non-recurring operating charges | 66A | - | €18,297 | +€18,297 | |
| Gross operating margin | 9900 | €95,078 | €166,368 | +€71,290 | +75.0% |
| Operating profit (loss) | 9901 | €22,893 | €57,464 | +€34,571 | +151% |
| Financial income | 75/76B | €79 | €712 | +€633 | +802% |
| Recurring financial income | 75 | €79 | €712 | +€633 | +802% |
| Financial charges | 65/66B | €46,861 | €21,802 | -€25,059 | -53.5% |
| Recurring financial charges | 65 | €13,136 | €15,684 | +€2,548 | +19.4% |
| Non-recurring financial charges | 66B | €33,725 | €6,118 | -€27,607 | -81.9% |
| Profit (loss) for the period before taxes | 9903 | -€23,889 | €36,374 | +€60,263 | |
| Income taxes | 67/77 | €2,356 | €11,870 | +€9,514 | +404% |
| Profit (loss) for the period | 9904 | -€26,245 | €24,504 | +€50,749 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,245 | €24,504 | +€50,749 |
Next steps
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 2 November 2026 via checked.be.