ISTAS: 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.
ISTAS
Largest movements
- Tangible fixed assets -€81,259
down €81,259 (-3.7%), from €2.2m to €2.1m
of which Leasing and similar rights: -€80,556
- Cash +€78,620
up €78,620 (+849%), from €9,260 to €87,880
mainly Depreciation (+€81,259) and Trade debts (+€54,547)
- Debts after one year -€87,129
down €87,129 (-3.6%), from €2.4m to €2.3m
- Accrued charges and deferred income -€67,499
down €67,499 (-3.7%), from €1.8m to €1.7m
- Trade debts +€54,547
up €54,547 (+86.1%), from €63,339 to €117,886
- Gross operating margin +€257,845
up €257,845, from -€3,619 to €254,226
- Financial charges +€91,809
up €91,809 (+380%), from €24,181 to €115,990
- Depreciation +€71,895
up €71,895 (+768%), from €9,364 to €81,259
- Other operating charges -€5,412
down €5,412 (-27.5%), from €19,690 to €14,278
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 | €4,814,554 | €4,807,545 | -€7,009 | -0.1% |
| Fixed assets | 21/28 | €4,667,758 | €4,560,881 | -€106,877 | -2.3% |
| Tangible fixed assets | 22/27 | €2,167,758 | €2,086,499 | -€81,259 | -3.7% |
| Furniture and vehicles | 24 | €703 | - | -€703 | |
| Leasing and similar rights | 25 | €2,167,055 | €2,086,499 | -€80,556 | -3.7% |
| Financial fixed assets | 28 | €2,500,000 | €2,474,382 | -€25,618 | -1.0% |
| Current assets | 29/58 | €146,796 | €246,664 | +€99,868 | +68.0% |
| Amounts receivable within one year | 40/41 | €127,884 | €148,276 | +€20,392 | +15.9% |
| Trade receivables | 40 | €87,322 | €143,494 | +€56,172 | +64.3% |
| Other amounts receivable | 41 | €40,562 | €4,782 | -€35,780 | -88.2% |
| Cash at bank and in hand | 54/58 | €9,260 | €87,880 | +€78,620 | +849% |
| Deferred charges and accrued income | 490/1 | €9,652 | €10,509 | +€857 | +8.9% |
| Total equity and liabilities | 10/49 | €4,814,554 | €4,807,545 | -€7,009 | -0.1% |
| Equity | 10/15 | €206,245 | €249,198 | +€42,953 | +20.8% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €7,437 | €7,437 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Profit (loss) carried forward | 14 | €124,440 | €167,393 | +€42,953 | +34.5% |
| Amounts payable | 17/49 | €4,608,309 | €4,558,347 | -€49,962 | -1.1% |
| Amounts payable after more than one year | 17 | €2,414,490 | €2,327,361 | -€87,129 | -3.6% |
| Financial debts | 170/4 | €2,414,490 | €2,327,361 | -€87,129 | -3.6% |
| Amounts payable within one year | 42/48 | €377,994 | €482,660 | +€104,666 | +27.7% |
| Current portion of amounts payable after more than one year | 42 | €94,156 | €98,399 | +€4,243 | +4.5% |
| Trade debts | 44 | €63,339 | €117,886 | +€54,547 | +86.1% |
| Suppliers | 440/4 | €63,339 | €117,886 | +€54,547 | +86.1% |
| Taxes, remuneration and social security | 45 | €9,102 | €18,742 | +€9,640 | +106% |
| Taxes | 450/3 | €9,102 | €18,742 | +€9,640 | +106% |
| Other amounts payable | 47/48 | €211,398 | €247,633 | +€36,235 | +17.1% |
| Accrued charges and deferred income | 492/3 | €1,815,825 | €1,748,326 | -€67,499 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,364 | €81,259 | +€71,895 | +768% |
| Other operating charges | 640/8 | €19,690 | €14,278 | -€5,412 | -27.5% |
| Gross operating margin | 9900 | -€3,619 | €254,226 | +€257,845 | |
| Operating profit (loss) | 9901 | -€32,672 | €158,689 | +€191,362 | |
| Financial income | 75/76B | €12 | €0 | -€11 | -97.4% |
| Recurring financial income | 75 | €12 | €0 | -€11 | -97.4% |
| Financial charges | 65/66B | €24,181 | €115,990 | +€91,809 | +380% |
| Recurring financial charges | 65 | €24,181 | €115,990 | +€91,809 | +380% |
| Profit (loss) for the period before taxes | 9903 | -€56,842 | €42,700 | +€99,542 | |
| Income taxes | 67/77 | -€2,754 | -€253 | +€2,501 | +90.8% |
| Profit (loss) for the period | 9904 | -€54,087 | €42,953 | +€97,040 | |
| Profit (loss) for the period to be appropriated | 9905 | -€54,087 | €42,953 | +€97,040 |
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 19 October 2026 via checked.be.