ISTG: 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.
ISTG
Largest movements
- Receivables within one year +€123,748
up €123,748 (+51.5%), from €240,474 to €364,222
of which Other amounts receivable: +€104,849
- Cash -€62,463
down €62,463 (-53.3%), from €117,250 to €54,786
mainly Receivables within one year (-€123,748) and Other debts (-€99,876)
- Tangible fixed assets -€7,998
down €7,998 (-6.7%), from €119,123 to €111,125
of which Land and buildings: -€8,800
- Trade debts +€117,011
up €117,011 (+145.9%), from €80,222 to €197,234
- Other debts -€99,876
down €99,876 (-61.7%), from €161,981 to €62,105
- Profit (loss) carried forward +€26,523
up €26,523 (+110.2%), from €24,075 to €50,598
- Tax, wage and social debts +€26,116
up €26,116 (+23.4%), from €111,617 to €137,732
of which Taxes: +€32,559
- Debts after one year -€11,568
down €11,568 (-10.9%), from €106,315 to €94,746
- Gross operating margin +€93,202
up €93,202 (+27.7%), from €336,658 to €429,861
- Staff costs +€66,865
up €66,865 (+22.0%), from €303,563 to €370,428
- Taxes +€7,652
up €7,652 (+121.5%), from €6,298 to €13,951
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €517,405 | €576,110 | +€58,705 | +11.3% |
| Fixed assets | 21/28 | €119,553 | €111,555 | -€7,998 | -6.7% |
| Tangible fixed assets | 22/27 | €119,123 | €111,125 | -€7,998 | -6.7% |
| Land and buildings | 22 | €114,400 | €105,600 | -€8,800 | -7.7% |
| Plant, machinery and equipment | 23 | - | €2,356 | +€2,356 | |
| Furniture and vehicles | 24 | €4,723 | €3,169 | -€1,554 | -32.9% |
| Financial fixed assets | 28 | €430 | €430 | = | 0.0% |
| Current assets | 29/58 | €397,852 | €464,555 | +€66,703 | +16.8% |
| Amounts receivable after more than one year | 29 | €32,572 | €38,172 | +€5,600 | +17.2% |
| Trade receivables | 290 | €32,572 | €38,172 | +€5,600 | +17.2% |
| Amounts receivable within one year | 40/41 | €240,474 | €364,222 | +€123,748 | +51.5% |
| Trade receivables | 40 | €240,415 | €259,313 | +€18,899 | +7.9% |
| Other amounts receivable | 41 | €60 | €104,909 | +€104,849 | +175804.0% |
| Cash at bank and in hand | 54/58 | €117,250 | €54,786 | -€62,463 | -53.3% |
| Deferred charges and accrued income | 490/1 | €7,556 | €7,374 | -€182 | -2.4% |
| Total equity and liabilities | 10/49 | €517,405 | €576,110 | +€58,705 | +11.3% |
| Equity | 10/15 | €44,535 | €71,058 | +€26,523 | +59.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,075 | €50,598 | +€26,523 | +110.2% |
| Amounts payable | 17/49 | €472,870 | €505,052 | +€32,182 | +6.8% |
| Amounts payable after more than one year | 17 | €106,315 | €94,746 | -€11,568 | -10.9% |
| Financial debts | 170/4 | €106,315 | €94,746 | -€11,568 | -10.9% |
| Amounts payable within one year | 42/48 | €365,154 | €408,639 | +€43,485 | +11.9% |
| Current portion of amounts payable after more than one year | 42 | €11,334 | €11,568 | +€235 | +2.1% |
| Trade debts | 44 | €80,222 | €197,234 | +€117,011 | +145.9% |
| Suppliers | 440/4 | €80,222 | €197,234 | +€117,011 | +145.9% |
| Taxes, remuneration and social security | 45 | €111,617 | €137,732 | +€26,116 | +23.4% |
| Taxes | 450/3 | €64,853 | €97,411 | +€32,559 | +50.2% |
| Remuneration and social security | 454/9 | €46,764 | €40,321 | -€6,443 | -13.8% |
| Other amounts payable | 47/48 | €161,981 | €62,105 | -€99,876 | -61.7% |
| Accrued charges and deferred income | 492/3 | €1,401 | €1,667 | +€265 | +18.9% |
| Remuneration, social security and pensions | 62 | €303,563 | €370,428 | +€66,865 | +22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,829 | €10,512 | -€3,318 | -24.0% |
| Other operating charges | 640/8 | €5,190 | €2,377 | -€2,813 | -54.2% |
| Gross operating margin | 9900 | €336,658 | €429,861 | +€93,202 | +27.7% |
| Operating profit (loss) | 9901 | €14,076 | €46,543 | +€32,467 | +230.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €6,355 | €6,070 | -€286 | -4.5% |
| Recurring financial charges | 65 | €6,355 | €6,070 | -€286 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €7,721 | €40,474 | +€32,753 | +424.2% |
| Income taxes | 67/77 | €6,298 | €13,951 | +€7,652 | +121.5% |
| Profit (loss) for the period | 9904 | €1,423 | €26,523 | +€25,101 | +1764.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,423 | €26,523 | +€25,101 | +1764.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.