ISTANBUL 2: 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.
ISTANBUL 2
Largest movements
- Tangible fixed assets +€63,689
new in 2025: €63,689
- Cash +€15,907
up €15,907 (+56.8%), from €28,009 to €43,916
mainly Debts after one year (+€63,325) and Current portion of long-term debt (+€17,195)
- Financial fixed assets +€2,700
up €2,700 (+108%), from €2,500 to €5,200
- Debts after one year +€63,325
new in 2025: €63,325
- Current portion of long-term debt +€17,195
up €17,195 (+4,913%), from €350 to €17,545
- Tax, wage and social debts -€3,420
down €3,420 (-53.0%), from €6,458 to €3,038
of which Remuneration and social security: -€3,716
- Profit (loss) carried forward +€3,096
up €3,096, from -€49 to €3,047
- Trade debts +€2,996
up €2,996 (+106%), from €2,814 to €5,810
- Gross operating margin +€9,800
up €9,800 (+58.8%), from €16,665 to €26,465
- Depreciation +€3,134
new in 2025: €3,134
- Financial charges +€1,711
up €1,711 (+94.9%), from €1,804 to €3,515
- Taxes +€1,491
new in 2025: €1,491
- Other operating charges +€689
up €689 (+39.7%), from €1,735 to €2,423
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €36,375 | €119,567 | +€83,192 | +229% |
| Fixed assets | 21/28 | €2,500 | €68,889 | +€66,389 | +2,656% |
| Tangible fixed assets | 22/27 | - | €63,689 | +€63,689 | |
| Leasing and similar rights | 25 | - | €63,689 | +€63,689 | |
| Financial fixed assets | 28 | €2,500 | €5,200 | +€2,700 | +108% |
| Current assets | 29/58 | €33,875 | €50,678 | +€16,802 | +49.6% |
| Stocks and contracts in progress | 3 | €3,785 | €4,726 | +€941 | +24.9% |
| Stocks | 30/36 | €3,785 | €4,726 | +€941 | +24.9% |
| Amounts receivable within one year | 40/41 | €659 | €1,207 | +€548 | +83.2% |
| Trade receivables | 40 | €320 | - | -€320 | |
| Other amounts receivable | 41 | €339 | €1,207 | +€868 | +256% |
| Cash at bank and in hand | 54/58 | €28,009 | €43,916 | +€15,907 | +56.8% |
| Deferred charges and accrued income | 490/1 | €1,423 | €830 | -€593 | -41.7% |
| Total equity and liabilities | 10/49 | €36,375 | €119,567 | +€83,192 | +229% |
| Equity | 10/15 | €26,753 | €29,849 | +€3,096 | +11.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €8,202 | €8,202 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,101 | €1,101 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,101 | €1,101 | = | 0.0% |
| Distributable reserves | 133 | €7,101 | €7,101 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49 | €3,047 | +€3,096 | |
| Amounts payable | 17/49 | €9,622 | €89,718 | +€80,096 | +832% |
| Amounts payable after more than one year | 17 | - | €63,325 | +€63,325 | |
| Financial debts | 170/4 | - | €63,325 | +€63,325 | |
| Amounts payable within one year | 42/48 | €9,622 | €26,394 | +€16,771 | +174% |
| Current portion of amounts payable after more than one year | 42 | €350 | €17,545 | +€17,195 | +4,913% |
| Trade debts | 44 | €2,814 | €5,810 | +€2,996 | +106% |
| Suppliers | 440/4 | €2,814 | €5,810 | +€2,996 | +106% |
| Taxes, remuneration and social security | 45 | €6,458 | €3,038 | -€3,420 | -53.0% |
| Taxes | 450/3 | €921 | €1,217 | +€296 | +32.1% |
| Remuneration and social security | 454/9 | €5,537 | €1,821 | -€3,716 | -67.1% |
| Remuneration, social security and pensions | 62 | €12,286 | €12,805 | +€520 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,134 | +€3,134 | |
| Other operating charges | 640/8 | €1,735 | €2,423 | +€689 | +39.7% |
| Gross operating margin | 9900 | €16,665 | €26,465 | +€9,800 | +58.8% |
| Operating profit (loss) | 9901 | €2,644 | €8,102 | +€5,458 | +206% |
| Financial income | 75/76B | €0 | €0 | -€0 | -80.6% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -80.6% |
| Financial charges | 65/66B | €1,804 | €3,515 | +€1,711 | +94.9% |
| Recurring financial charges | 65 | €1,804 | €3,515 | +€1,711 | +94.9% |
| Profit (loss) for the period before taxes | 9903 | €841 | €4,587 | +€3,746 | +445% |
| Income taxes | 67/77 | - | €1,491 | +€1,491 | |
| Profit (loss) for the period | 9904 | €841 | €3,096 | +€2,255 | +268% |
| Profit (loss) for the period to be appropriated | 9905 | €841 | €3,096 | +€2,255 | +268% |
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 23 October 2026 via checked.be.