ISR: 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.
ISR
Largest movements
- Cash +€332,790
up €332,790 (+1273.6%), from €26,129 to €358,919
mainly Other debts (+€365,911) and Current investments (+€210,000)
- Current investments -€210,000
down €210,000 (-100.0%), from €210,000 to €0
- Receivables within one year -€15,617
down €15,617 (-11.9%), from €130,754 to €115,138
of which Trade receivables: -€13,166
- Other debts +€365,911
up €365,911 (+2565.1%), from €14,265 to €380,176
- Reserves -€324,585
down €324,585 (-100.0%), from €324,585 to €0
of which Distributable reserves: -€324,585
- Tax, wage and social debts +€65,443
up €65,443 (+738.5%), from €8,861 to €74,304
- Gross operating margin +€128,801
up €128,801 (+936.5%), from €13,754 to €142,555
- Taxes +€27,469
up €27,469 (+632.3%), from €4,344 to €31,813
- Financial income -€1,860
down €1,860 (-58.0%), from €3,207 to €1,347
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 | €367,464 | €474,217 | +€106,753 | +29.1% |
| Fixed assets | 21/28 | €581 | €161 | -€420 | -72.4% |
| Tangible fixed assets | 22/27 | €581 | €161 | -€420 | -72.4% |
| Plant, machinery and equipment | 23 | €148 | €0 | -€148 | -100.0% |
| Furniture and vehicles | 24 | €433 | €161 | -€273 | -62.9% |
| Current assets | 29/58 | €366,883 | €474,057 | +€107,174 | +29.2% |
| Amounts receivable within one year | 40/41 | €130,754 | €115,138 | -€15,617 | -11.9% |
| Trade receivables | 40 | €27,686 | €14,520 | -€13,166 | -47.6% |
| Other amounts receivable | 41 | €103,069 | €100,618 | -€2,451 | -2.4% |
| Current investments | 50/53 | €210,000 | €0 | -€210,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €26,129 | €358,919 | +€332,790 | +1273.6% |
| Total equity and liabilities | 10/49 | €367,464 | €474,217 | +€106,753 | +29.1% |
| Equity | 10/15 | €343,185 | €18,600 | -€324,585 | -94.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €324,585 | €0 | -€324,585 | -100.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €324,585 | €0 | -€324,585 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €24,279 | €455,617 | +€431,338 | +1776.6% |
| Amounts payable within one year | 42/48 | €24,279 | €455,617 | +€431,338 | +1776.6% |
| Trade debts | 44 | €1,153 | €1,137 | -€16 | -1.4% |
| Suppliers | 440/4 | €1,153 | €1,137 | -€16 | -1.4% |
| Taxes, remuneration and social security | 45 | €8,861 | €74,304 | +€65,443 | +738.5% |
| Taxes | 450/3 | €8,861 | €74,304 | +€65,443 | +738.5% |
| Other amounts payable | 47/48 | €14,265 | €380,176 | +€365,911 | +2565.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €658 | €420 | -€237 | -36.1% |
| Other operating charges | 640/8 | €655 | €1,020 | +€365 | +55.7% |
| Gross operating margin | 9900 | €13,754 | €142,555 | +€128,801 | +936.5% |
| Operating profit (loss) | 9901 | €12,441 | €141,115 | +€128,674 | +1034.2% |
| Financial income | 75/76B | €3,207 | €1,347 | -€1,860 | -58.0% |
| Recurring financial income | 75 | €3,207 | €1,347 | -€1,860 | -58.0% |
| Financial charges | 65/66B | €108 | €83 | -€25 | -23.3% |
| Recurring financial charges | 65 | €108 | €83 | -€25 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €15,541 | €142,379 | +€126,838 | +816.2% |
| Income taxes | 67/77 | €4,344 | €31,813 | +€27,469 | +632.3% |
| Profit (loss) for the period | 9904 | €11,196 | €110,566 | +€99,370 | +887.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,196 | €110,566 | +€99,370 | +887.5% |
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 7 October 2026 via checked.be.