ISP1-RG: 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.
What changed
ISP1-RG
NACE 35.110, Production of electricity from non-renewable sources
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€956,542
2024 · €652,908+€303,635
Equity
€858,850
2024 · €608,850+€250,000
Cash
€982,629
2024 · €773,749+€208,880
Balance sheet total
€6.0m
2024 · €7.8m-€1.8m
Largest movements
Assets
- Tangible fixed assets -€2.0m
down €2.0m (-35.1%), from €5.6m to €3.6m
- Cash +€208,880
up €208,880 (+27.0%), from €773,749 to €982,629
mainly Depreciation (+€2.0m) and Net result for the year (+€956,542)
Equity and liabilities
- Debts after one year -€2.3m
down €2.3m (-53.3%), from €4.3m to €2.0m
- Reserves +€250,000
up €250,000 (+452%), from €55,350 to €305,350
of which Distributable reserves: +€250,000
- Current portion of long-term debt +€170,890
up €170,890 (+8.0%), from €2.1m to €2.3m
Income statement
- Turnover +€313,071
up €313,071 (+8.3%), from €3.8m to €4.1m
- Financial charges -€102,764
down €102,764 (-27.3%), from €376,427 to €273,662
- Taxes +€101,191
up €101,191 (+46.5%), from €217,657 to €318,847
- Other operating income -€48,484
down €48,484 (-100%), from €48,484 to €0
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
€652,908
Turnover
+€313,071
Other operating income
-€48,484
Services and other goods
-€2,587
Other operating charges
+€284
Other operating items
+€39,879
Financial income
-€101
Financial charges
+€102,764
Taxes
-€101,191
Result 2025
€956,542
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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
+€3.1m
Investment
-€4,675
Financing
-€2.8m
Cash 2024
€773,749
From operations (derived)
+€3.1m
Net result for the year
+€956,542
Depreciation
+€2.0m
Receivables within one year
+€54,452
Deferred charges and accrued income
-€2,627
Trade debts
+€50,147
Tax, wage and social debts
+€11,841
Other debts
+€53,635
Accrued charges and deferred income
-€18,296
Investment (derived)
-€4,675
Investment in fixed assets (net)
-€4,675
Financing
-€2.8m
Debts after one year
-€2.3m
Current portion of long-term debt
+€170,890
Contributions, distributions and other
-€706,542
Cash 2025
€982,629
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,835,231 | €6,040,841 | -€1.8m | -22.9% |
| Fixed assets | 21/28 | €6,816,407 | €4,864,962 | -€2.0m | -28.6% |
| Tangible fixed assets | 22/27 | €5,571,580 | €3,615,461 | -€2.0m | -35.1% |
| Leasing and similar rights | 25 | €5,571,580 | €3,615,461 | -€2.0m | -35.1% |
| Financial fixed assets | 28 | €1,244,826 | €1,249,501 | +€4,675 | +0.4% |
| Other financial fixed assets | 284/8 | €1,244,826 | €1,249,501 | +€4,675 | +0.4% |
| Amounts receivable and cash guarantees | 285/8 | €1,244,826 | €1,249,501 | +€4,675 | +0.4% |
| Current assets | 29/58 | €1,018,824 | €1,175,879 | +€157,055 | +15.4% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €235,057 | €180,604 | -€54,452 | -23.2% |
| Trade receivables | 40 | €118,516 | €144,731 | +€26,214 | +22.1% |
| Other amounts receivable | 41 | €116,541 | €35,874 | -€80,667 | -69.2% |
| Cash at bank and in hand | 54/58 | €773,749 | €982,629 | +€208,880 | +27.0% |
| Deferred charges and accrued income | 490/1 | €10,019 | €12,646 | +€2,627 | +26.2% |
| Total equity and liabilities | 10/49 | €7,835,231 | €6,040,841 | -€1.8m | -22.9% |
| Equity | 10/15 | €608,850 | €858,850 | +€250,000 | +41.1% |
| Contributions | 10/11 | €553,500 | €553,500 | = | 0.0% |
| Capital | 10 | €553,500 | €553,500 | = | 0.0% |
| Issued capital | 100 | €553,500 | €553,500 | = | 0.0% |
| Reserves | 13 | €55,350 | €305,350 | +€250,000 | +452% |
| Non-distributable reserves | 130/1 | €55,350 | €55,350 | = | 0.0% |
| Legal reserve | 130 | €55,350 | €55,350 | = | 0.0% |
| Distributable reserves | 133 | - | €250,000 | +€250,000 | |
| Amounts payable | 17/49 | €7,226,381 | €5,181,991 | -€2.0m | -28.3% |
| Amounts payable after more than one year | 17 | €4,335,725 | €2,023,119 | -€2.3m | -53.3% |
| Financial debts | 170/4 | €4,335,725 | €2,023,119 | -€2.3m | -53.3% |
| Leasing and similar obligations | 172 | €4,335,725 | €2,023,119 | -€2.3m | -53.3% |
| Amounts payable within one year | 42/48 | €2,861,687 | €3,148,199 | +€286,512 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €2,141,716 | €2,312,606 | +€170,890 | +8.0% |
| Trade debts | 44 | €67,063 | €117,210 | +€50,147 | +74.8% |
| Suppliers | 440/4 | €67,063 | €117,210 | +€50,147 | +74.8% |
| Taxes, remuneration and social security | 45 | €0 | €11,841 | +€11,841 | |
| Taxes | 450/3 | €0 | €11,841 | +€11,841 | |
| Other amounts payable | 47/48 | €652,908 | €706,542 | +€53,635 | +8.2% |
| Accrued charges and deferred income | 492/3 | €28,969 | €10,673 | -€18,296 | -63.2% |
| Operating income | 70/76A | €3,827,789 | €4,092,376 | +€264,586 | +6.9% |
| Turnover | 70 | €3,779,305 | €4,092,376 | +€313,071 | +8.3% |
| Other operating income | 74 | €48,484 | €0 | -€48,484 | -100% |
| Operating charges | 60/66A | €2,587,588 | €2,550,012 | -€37,576 | -1.5% |
| Services and other goods | 61 | €589,935 | €592,522 | +€2,587 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,956,120 | €1,956,120 | = | 0.0% |
| Other operating charges | 640/8 | €1,655 | €1,371 | -€284 | -17.2% |
| Non-recurring operating charges | 66A | €39,879 | €0 | -€39,879 | -100% |
| Operating profit (loss) | 9901 | €1,240,201 | €1,542,363 | +€302,162 | +24.4% |
| Financial income | 75/76B | €6,790 | €6,689 | -€101 | -1.5% |
| Recurring financial income | 75 | €6,790 | €6,689 | -€101 | -1.5% |
| Income from current assets | 751 | €6,790 | €6,689 | -€101 | -1.5% |
| Financial charges | 65/66B | €376,427 | €273,662 | -€102,764 | -27.3% |
| Recurring financial charges | 65 | €376,427 | €273,662 | -€102,764 | -27.3% |
| Debt charges | 650 | €375,947 | €273,081 | -€102,866 | -27.4% |
| Other financial charges | 652/9 | €480 | €581 | +€102 | +21.2% |
| Profit (loss) for the period before taxes | 9903 | €870,564 | €1,275,390 | +€404,826 | +46.5% |
| Income taxes | 67/77 | €217,657 | €318,847 | +€101,191 | +46.5% |
| Taxes | 670/3 | €217,657 | €318,847 | +€101,191 | +46.5% |
| Profit (loss) for the period | 9904 | €652,908 | €956,542 | +€303,635 | +46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €652,908 | €956,542 | +€303,635 | +46.5% |
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 27 October 2026 via checked.be.