ISWATRA: 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.
ISWATRA
Largest movements
- Tangible fixed assets -€553,308
down €553,308 (-99.5%), from €556,048 to €2,740
of which Furniture and vehicles: -€553,227
- Current investments +€452,463
new in 2025: €452,463
- Cash -€46,921
down €46,921 (-58.9%), from €79,617 to €32,696
mainly Current investments (-€452,463) and Debts after one year (-€350,000)
- Debts after one year -€350,000
down €350,000 (-66.7%), from €525,000 to €175,000
of which Financial debts: -€350,000
- Profit (loss) carried forward +€320,017
up €320,017, from -€319,878 to €139
- Other debts -€70,031
down €70,031 (-90.9%), from €77,035 to €7,004
- Reserves +€41,000
new in 2025: €41,000
of which Distributable reserves: +€38,500
- Current portion of long-term debt -€40,000
no longer reported in 2025 (was €40,000)
- Gross operating margin +€284,157
up €284,157 (+270.5%), from €105,040 to €389,197
- Depreciation -€82,288
down €82,288 (-98.9%), from €83,205 to €916
- Taxes +€23,316
up €23,316 (+3392.9%), from €687 to €24,003
- Financial charges -€19,592
down €19,592 (-75.8%), from €25,836 to €6,244
- Financial income -€7,917
down €7,917 (-59.2%), from €13,372 to €5,455
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 | €881,259 | €742,698 | -€138,562 | -15.7% |
| Fixed assets | 21/28 | €556,128 | €2,740 | -€553,388 | -99.5% |
| Tangible fixed assets | 22/27 | €556,048 | €2,740 | -€553,308 | -99.5% |
| Plant, machinery and equipment | 23 | €2,821 | €2,740 | -€82 | -2.9% |
| Furniture and vehicles | 24 | €553,227 | - | -€553,227 | |
| Financial fixed assets | 28 | €80 | - | -€80 | |
| Current assets | 29/58 | €325,131 | €739,958 | +€414,827 | +127.6% |
| Amounts receivable after more than one year | 29 | €175,000 | €175,000 | = | 0.0% |
| Other amounts receivable | 291 | €175,000 | €175,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,810 | €19,066 | +€4,256 | +28.7% |
| Trade receivables | 40 | €11,367 | €17,535 | +€6,168 | +54.3% |
| Other amounts receivable | 41 | €3,442 | €1,530 | -€1,912 | -55.5% |
| Current investments | 50/53 | - | €452,463 | +€452,463 | |
| Cash at bank and in hand | 54/58 | €79,617 | €32,696 | -€46,921 | -58.9% |
| Deferred charges and accrued income | 490/1 | €55,705 | €60,734 | +€5,029 | +9.0% |
| Total equity and liabilities | 10/49 | €881,259 | €742,698 | -€138,562 | -15.7% |
| Equity | 10/15 | €180,122 | €541,139 | +€361,017 | +200.4% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | - | €41,000 | +€41,000 | |
| Non-distributable reserves | 130/1 | - | €2,500 | +€2,500 | |
| Legal reserve | 130 | - | €2,500 | +€2,500 | |
| Distributable reserves | 133 | - | €38,500 | +€38,500 | |
| Profit (loss) carried forward | 14 | -€319,878 | €139 | +€320,017 | |
| Amounts payable | 17/49 | €701,138 | €201,559 | -€499,579 | -71.3% |
| Amounts payable after more than one year | 17 | €525,000 | €175,000 | -€350,000 | -66.7% |
| Financial debts | 170/4 | €350,000 | - | -€350,000 | |
| Other amounts payable | 178/9 | €175,000 | €175,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €155,603 | €25,810 | -€129,793 | -83.4% |
| Current portion of amounts payable after more than one year | 42 | €40,000 | - | -€40,000 | |
| Trade debts | 44 | €33,629 | €8,886 | -€24,743 | -73.6% |
| Suppliers | 440/4 | €33,629 | €8,886 | -€24,743 | -73.6% |
| Taxes, remuneration and social security | 45 | €4,939 | €9,920 | +€4,981 | +100.9% |
| Taxes | 450/3 | €4,939 | €9,920 | +€4,981 | +100.9% |
| Other amounts payable | 47/48 | €77,035 | €7,004 | -€70,031 | -90.9% |
| Accrued charges and deferred income | 492/3 | €20,535 | €749 | -€19,786 | -96.4% |
| Non-recurring operating income | 76A | - | €419,272 | +€419,272 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,205 | €916 | -€82,288 | -98.9% |
| Other operating charges | 640/8 | €2,807 | €2,471 | -€336 | -12.0% |
| Gross operating margin | 9900 | €105,040 | €389,197 | +€284,157 | +270.5% |
| Operating profit (loss) | 9901 | €19,028 | €385,810 | +€366,782 | +1927.6% |
| Financial income | 75/76B | €13,372 | €5,455 | -€7,917 | -59.2% |
| Recurring financial income | 75 | €13,372 | €5,455 | -€7,917 | -59.2% |
| Financial charges | 65/66B | €25,836 | €6,244 | -€19,592 | -75.8% |
| Recurring financial charges | 65 | €25,836 | €6,244 | -€19,592 | -75.8% |
| Profit (loss) for the period before taxes | 9903 | €6,564 | €385,021 | +€378,456 | +5765.5% |
| Income taxes | 67/77 | €687 | €24,003 | +€23,316 | +3392.9% |
| Profit (loss) for the period | 9904 | €5,877 | €361,017 | +€355,140 | +6042.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,877 | €361,017 | +€355,140 | +6042.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.