ISMA: 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.
What changed
ISMA
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€445,101
2024 · €1.6m-€1.2m
Equity
€1.7m
2024 · €1.2m+€445,101
Cash
€49,815
2024 · €80,143-€30,329
Balance sheet total
€1.9m
2024 · €2.6m-€731,496
Largest movements
Assets
- Receivables within one year -€702,911
down €702,911 (-67.3%), from €1.0m to €341,698
of which Other amounts receivable: -€660,149
- Cash -€30,329
down €30,329 (-37.8%), from €80,143 to €49,815
mainly Other debts (-€1.2m) and Tax, wage and social debts (-€24,827)
Equity and liabilities
- Other debts -€1.2m
down €1.2m (-98.4%), from €1.2m to €19,098
- Profit (loss) carried forward +€445,101
up €445,101 (+61.7%), from €721,251 to €1.2m
- Trade debts +€28,369
up €28,369 (+262%), from €10,816 to €39,185
Income statement
- Financial income -€1.1m
down €1.1m (-73.7%), from €1.5m to €402,694
- Turnover +€731,467
new in 2025: €731,467
- Gross operating margin -€657,472
no longer reported in 2025 (was €657,472)
- Services and other goods +€183,119
new in 2025: €183,119
- Other operating income +€101,586
new in 2025: €101,586
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.
Result 2024
€1.6m
Turnover
+€731,467
Other operating income
+€101,586
Goods and materials
-€32,365
Services and other goods
-€183,119
Staff costs
-€35,686
Depreciation
-€127
Write-downs
-€780
Other operating charges
-€1,060
Other operating items
-€657,472
Financial income
-€1.1m
Financial charges
-€578
Taxes
+€20,005
Result 2025
€445,101
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€28,344
Investment
-€1,985
Financing
€0
Cash 2024
€80,143
From operations (derived)
-€28,344
Net result for the year
+€445,101
Depreciation
+€1,080
Receivables within one year
+€702,911
Deferred charges and accrued income
-€839
Trade debts
+€28,369
Tax, wage and social debts
-€24,827
Other debts
-€1.2m
Accrued charges and deferred income
-€19,235
Investment (derived)
-€1,985
Investment in fixed assets (net)
-€1,985
Cash 2025
€49,815
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,645,521 | €1,914,026 | -€731,496 | -27.7% |
| Fixed assets | 21/28 | €1,512,729 | €1,513,634 | +€905 | +0.1% |
| Intangible fixed assets | 21 | €794 | - | -€794 | |
| Tangible fixed assets | 22/27 | - | €1,699 | +€1,699 | |
| Plant, machinery and equipment | 23 | - | €1,699 | +€1,699 | |
| Financial fixed assets | 28 | €1,511,935 | €1,511,935 | = | 0.0% |
| Affiliated companies | 280/1 | - | €1,511,935 | +€1.5m | |
| Participating interests | 280 | - | €1,511,935 | +€1.5m | |
| Current assets | 29/58 | €1,132,793 | €400,392 | -€732,401 | -64.7% |
| Amounts receivable within one year | 40/41 | €1,044,609 | €341,698 | -€702,911 | -67.3% |
| Trade receivables | 40 | €282,441 | €239,679 | -€42,762 | -15.1% |
| Other amounts receivable | 41 | €762,169 | €102,020 | -€660,149 | -86.6% |
| Cash at bank and in hand | 54/58 | €80,143 | €49,815 | -€30,329 | -37.8% |
| Deferred charges and accrued income | 490/1 | €8,040 | €8,878 | +€839 | +10.4% |
| Total equity and liabilities | 10/49 | €2,645,521 | €1,914,026 | -€731,496 | -27.7% |
| Equity | 10/15 | €1,239,349 | €1,684,449 | +€445,101 | +35.9% |
| Contributions | 10/11 | €470,998 | €470,998 | = | 0.0% |
| Capital | 10 | €470,998 | €470,998 | = | 0.0% |
| Issued capital | 100 | €470,998 | €470,998 | = | 0.0% |
| Reserves | 13 | €47,100 | €47,100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €47,100 | €47,100 | = | 0.0% |
| Legal reserve | 130 | €47,100 | €47,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €721,251 | €1,166,352 | +€445,101 | +61.7% |
| Amounts payable | 17/49 | €1,406,172 | €229,576 | -€1.2m | -83.7% |
| Amounts payable within one year | 42/48 | €1,338,828 | €181,468 | -€1.2m | -86.4% |
| Trade debts | 44 | €10,816 | €39,185 | +€28,369 | +262% |
| Suppliers | 440/4 | €10,816 | €39,185 | +€28,369 | +262% |
| Taxes, remuneration and social security | 45 | €148,013 | €123,185 | -€24,827 | -16.8% |
| Taxes | 450/3 | €60,156 | €25,971 | -€34,186 | -56.8% |
| Remuneration and social security | 454/9 | €87,856 | €97,215 | +€9,358 | +10.7% |
| Other amounts payable | 47/48 | €1,180,000 | €19,098 | -€1.2m | -98.4% |
| Accrued charges and deferred income | 492/3 | €67,344 | €48,109 | -€19,235 | -28.6% |
| Operating income | 70/76A | - | €833,052 | +€833,052 | |
| Turnover | 70 | - | €731,467 | +€731,467 | |
| Other operating income | 74 | - | €101,586 | +€101,586 | |
| Operating charges | 60/66A | - | €758,060 | +€758,060 | |
| Goods for resale, raw materials and consumables | 60 | - | €32,365 | +€32,365 | |
| Purchases | 600/8 | - | €32,365 | +€32,365 | |
| Services and other goods | 61 | - | €183,119 | +€183,119 | |
| Remuneration, social security and pensions | 62 | €503,417 | €539,103 | +€35,686 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €953 | €1,080 | +€127 | +13.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€780 | - | +€780 | |
| Other operating charges | 640/8 | €1,334 | €2,394 | +€1,060 | +79.5% |
| Gross operating margin | 9900 | €657,472 | - | -€657,472 | |
| Operating profit (loss) | 9901 | €152,549 | €74,993 | -€77,556 | -50.8% |
| Financial income | 75/76B | €1,530,026 | €402,694 | -€1.1m | -73.7% |
| Recurring financial income | 75 | €1,530,026 | €402,694 | -€1.1m | -73.7% |
| Income from financial fixed assets | 750 | - | €402,694 | +€402,694 | |
| Financial charges | 65/66B | €12,092 | €12,671 | +€578 | +4.8% |
| Recurring financial charges | 65 | €12,092 | €12,671 | +€578 | +4.8% |
| Debt charges | 650 | - | €11,278 | +€11,278 | |
| Other financial charges | 652/9 | - | €1,393 | +€1,393 | |
| Profit (loss) for the period before taxes | 9903 | €1,670,483 | €465,016 | -€1.2m | -72.2% |
| Income taxes | 67/77 | €39,920 | €19,915 | -€20,005 | -50.1% |
| Taxes | 670/3 | - | €19,915 | +€19,915 | |
| Profit (loss) for the period | 9904 | €1,630,562 | €445,101 | -€1.2m | -72.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,630,562 | €445,101 | -€1.2m | -72.7% |
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 13 October 2026 via checked.be.