Isa: what changed
Isa
Largest movements
- Cash -€25,704
down €25,704 (-54.3%), from €47,364 to €21,660
mainly Contributions, distributions and other (-€60,125) and Other debts (-€29,200)
- Receivables within one year -€22,405
down €22,405 (-43.6%), from €51,335 to €28,931
- Tangible fixed assets +€3,407
up €3,407 (+23.4%), from €14,552 to €17,959
of which Furniture and vehicles: +€5,821
- Other debts -€29,200
down €29,200 (-43.7%), from €66,770 to €37,570
- Tax, wage and social debts -€13,244
down €13,244 (-52.3%), from €25,328 to €12,083
- Reserves -€1,570
no longer reported in 2025 (was €1,570)
- Gross operating margin -€22,219
down €22,219 (-18.9%), from €117,513 to €95,294
- Taxes -€5,365
down €5,365 (-18.7%), from €28,643 to €23,278
- Depreciation +€3,940
up €3,940 (+52.2%), from €7,546 to €11,485
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €113,251 | €69,200 | -€44,051 | -38.9% |
| Fixed assets | 21/28 | €14,552 | €17,959 | +€3,407 | +23.4% |
| Tangible fixed assets | 22/27 | €14,552 | €17,959 | +€3,407 | +23.4% |
| Plant, machinery and equipment | 23 | €6,719 | €4,306 | -€2,414 | -35.9% |
| Furniture and vehicles | 24 | €7,833 | €13,654 | +€5,821 | +74.3% |
| Current assets | 29/58 | €98,699 | €51,241 | -€47,458 | -48.1% |
| Amounts receivable within one year | 40/41 | €51,335 | €28,931 | -€22,405 | -43.6% |
| Trade receivables | 40 | €51,335 | €28,931 | -€22,405 | -43.6% |
| Cash at bank and in hand | 54/58 | €47,364 | €21,660 | -€25,704 | -54.3% |
| Deferred charges and accrued income | 490/1 | - | €650 | +€650 | |
| Total equity and liabilities | 10/49 | €113,251 | €69,200 | -€44,051 | -38.9% |
| Equity | 10/15 | €20,170 | €18,600 | -€1,570 | -7.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,570 | - | -€1,570 | |
| Tax-exempt reserves | 132 | €1,570 | - | -€1,570 | |
| Amounts payable | 17/49 | €93,081 | €50,600 | -€42,481 | -45.6% |
| Amounts payable within one year | 42/48 | €93,081 | €50,600 | -€42,481 | -45.6% |
| Trade debts | 44 | €984 | €947 | -€37 | -3.7% |
| Suppliers | 440/4 | €984 | €947 | -€37 | -3.7% |
| Taxes, remuneration and social security | 45 | €25,328 | €12,083 | -€13,244 | -52.3% |
| Taxes | 450/3 | €25,328 | €12,083 | -€13,244 | -52.3% |
| Other amounts payable | 47/48 | €66,770 | €37,570 | -€29,200 | -43.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,546 | €11,485 | +€3,940 | +52.2% |
| Other operating charges | 640/8 | €1,387 | €1,093 | -€294 | -21.2% |
| Gross operating margin | 9900 | €117,513 | €95,294 | -€22,219 | -18.9% |
| Operating profit (loss) | 9901 | €108,580 | €82,716 | -€25,864 | -23.8% |
| Financial income | 75/76B | €42 | - | -€42 | |
| Recurring financial income | 75 | €42 | - | -€42 | |
| Financial charges | 65/66B | €642 | €882 | +€240 | +37.4% |
| Recurring financial charges | 65 | €642 | €882 | +€240 | +37.4% |
| Profit (loss) for the period before taxes | 9903 | €107,980 | €81,833 | -€26,147 | -24.2% |
| Income taxes | 67/77 | €28,643 | €23,278 | -€5,365 | -18.7% |
| Profit (loss) for the period | 9904 | €79,336 | €58,555 | -€20,781 | -26.2% |
| Transfer from tax-exempt reserves | 789 | - | €1,570 | +€1,570 | |
| Profit (loss) for the period to be appropriated | 9905 | €79,336 | €60,125 | -€19,211 | -24.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.