ISOVEST: 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.
ISOVEST
Largest movements
- Financial fixed assets +€1.0m
up €1.0m (+80.0%), from €1.3m to €2.3m
- Receivables within one year +€284,145
up €284,145 (+1034.9%), from €27,457 to €311,602
of which Other amounts receivable: +€290,427
- Formation expenses -€166,232
down €166,232 (-11.9%), from €1.4m to €1.2m
- Cash -€84,453
down €84,453 (-78.8%), from €107,228 to €22,775
mainly Investment in fixed assets (net) (-€1.0m) and Receivables within one year (-€284,145)
- Reserves +€967,485
up €967,485 (+458.6%), from €210,981 to €1.2m
- Short-term financial debts +€210,000
new in 2025: €210,000
- Debts after one year -€84,296
down €84,296 (-5.1%), from €1.7m to €1.6m
- Other debts -€67,800
down €67,800 (-30.4%), from €222,792 to €154,992
- Financial income +€1.0m
new in 2025: €1.0m
- Gross operating margin -€254,553
down €254,553 (-52.8%), from €481,965 to €227,412
- Taxes -€69,321
down €69,321 (-60.9%), from €113,894 to €44,573
- Financial charges +€22,448
up €22,448 (+85.1%), from €26,390 to €48,838
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 | €2,786,160 | €3,819,621 | +€1.0m | +37.1% |
| Formation expenses | 20 | €1,400,900 | €1,234,669 | -€166,232 | -11.9% |
| Fixed assets | 21/28 | €1,250,000 | €2,250,000 | +€1.0m | +80.0% |
| Financial fixed assets | 28 | €1,250,000 | €2,250,000 | +€1.0m | +80.0% |
| Current assets | 29/58 | €135,260 | €334,953 | +€199,693 | +147.6% |
| Amounts receivable within one year | 40/41 | €27,457 | €311,602 | +€284,145 | +1034.9% |
| Trade receivables | 40 | €27,457 | €21,175 | -€6,282 | -22.9% |
| Other amounts receivable | 41 | - | €290,427 | +€290,427 | |
| Cash at bank and in hand | 54/58 | €107,228 | €22,775 | -€84,453 | -78.8% |
| Deferred charges and accrued income | 490/1 | €576 | €576 | = | 0.0% |
| Total equity and liabilities | 10/49 | €2,786,160 | €3,819,621 | +€1.0m | +37.1% |
| Equity | 10/15 | €410,981 | €1,378,466 | +€967,485 | +235.4% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €210,981 | €1,178,466 | +€967,485 | +458.6% |
| Distributable reserves | 133 | €210,981 | €1,178,466 | +€967,485 | +458.6% |
| Amounts payable | 17/49 | €2,375,179 | €2,441,155 | +€65,976 | +2.8% |
| Amounts payable after more than one year | 17 | €1,657,143 | €1,572,847 | -€84,296 | -5.1% |
| Financial debts | 170/4 | €1,657,143 | €1,572,847 | -€84,296 | -5.1% |
| Amounts payable within one year | 42/48 | €718,037 | €858,309 | +€140,272 | +19.5% |
| Current portion of amounts payable after more than one year | 42 | €379,841 | €399,968 | +€20,127 | +5.3% |
| Financial debts | 43 | - | €210,000 | +€210,000 | |
| Credit institutions | 430/8 | - | €210,000 | +€210,000 | |
| Trade debts | 44 | €22,473 | €17,780 | -€4,693 | -20.9% |
| Suppliers | 440/4 | €22,473 | €17,780 | -€4,693 | -20.9% |
| Taxes, remuneration and social security | 45 | €92,931 | €75,569 | -€17,362 | -18.7% |
| Taxes | 450/3 | €92,931 | €75,569 | -€17,362 | -18.7% |
| Other amounts payable | 47/48 | €222,792 | €154,992 | -€67,800 | -30.4% |
| Accrued charges and deferred income | 492/3 | - | €10,000 | +€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,232 | €166,232 | = | 0.0% |
| Other operating charges | 640/8 | - | €285 | +€285 | |
| Gross operating margin | 9900 | €481,965 | €227,412 | -€254,553 | -52.8% |
| Operating profit (loss) | 9901 | €315,733 | €60,896 | -€254,837 | -80.7% |
| Financial income | 75/76B | - | €1,000,000 | +€1.0m | |
| Recurring financial income | 75 | - | €1,000,000 | +€1.0m | |
| Financial charges | 65/66B | €26,390 | €48,838 | +€22,448 | +85.1% |
| Recurring financial charges | 65 | €26,390 | €48,838 | +€22,448 | +85.1% |
| Profit (loss) for the period before taxes | 9903 | €289,343 | €1,012,058 | +€722,715 | +249.8% |
| Income taxes | 67/77 | €113,894 | €44,573 | -€69,321 | -60.9% |
| Profit (loss) for the period | 9904 | €175,450 | €967,485 | +€792,035 | +451.4% |
| Profit (loss) for the period to be appropriated | 9905 | €175,450 | €967,485 | +€792,035 | +451.4% |
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 12 October 2026 via checked.be.