ISVAL: 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.
ISVAL
Largest movements
- Cash -€8,672
down €8,672 (-13.7%), from €63,446 to €54,774
mainly Tax, wage and social debts (-€8,834) and Net result for the year (-€3,654)
- Tangible fixed assets -€3,884
down €3,884 (-14.9%), from €25,994 to €22,109
of which Furniture and vehicles: -€5,790
- Receivables within one year +€1,289
up €1,289 (+4.1%), from €31,654 to €32,942
of which Other amounts receivable: +€2,129
- Tax, wage and social debts -€8,834
down €8,834 (-56.6%), from €15,599 to €6,765
of which Taxes: -€7,329
- Profit (loss) carried forward -€3,654
down €3,654 (-5.1%), from €71,705 to €68,051
- Gross operating margin -€29,799
down €29,799 (-74.8%), from €39,848 to €10,049
- Taxes -€475
down €475 (-7.2%), from €6,635 to €6,160
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 | €121,997 | €109,826 | -€12,171 | -10.0% |
| Fixed assets | 21/28 | €25,994 | €22,109 | -€3,884 | -14.9% |
| Tangible fixed assets | 22/27 | €25,994 | €22,109 | -€3,884 | -14.9% |
| Plant, machinery and equipment | 23 | - | €1,906 | +€1,906 | |
| Furniture and vehicles | 24 | €25,994 | €20,203 | -€5,790 | -22.3% |
| Current assets | 29/58 | €96,004 | €87,716 | -€8,287 | -8.6% |
| Amounts receivable within one year | 40/41 | €31,654 | €32,942 | +€1,289 | +4.1% |
| Trade receivables | 40 | €31,654 | €30,813 | -€840 | -2.7% |
| Other amounts receivable | 41 | - | €2,129 | +€2,129 | |
| Cash at bank and in hand | 54/58 | €63,446 | €54,774 | -€8,672 | -13.7% |
| Deferred charges and accrued income | 490/1 | €904 | - | -€904 | |
| Total equity and liabilities | 10/49 | €121,997 | €109,826 | -€12,171 | -10.0% |
| Equity | 10/15 | €81,705 | €78,051 | -€3,654 | -4.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,705 | €68,051 | -€3,654 | -5.1% |
| Amounts payable | 17/49 | €40,292 | €31,775 | -€8,517 | -21.1% |
| Amounts payable within one year | 42/48 | €40,292 | €31,775 | -€8,517 | -21.1% |
| Trade debts | 44 | €15,460 | €14,960 | -€499 | -3.2% |
| Suppliers | 440/4 | €15,460 | €14,960 | -€499 | -3.2% |
| Taxes, remuneration and social security | 45 | €15,599 | €6,765 | -€8,834 | -56.6% |
| Taxes | 450/3 | €7,892 | €563 | -€7,329 | -92.9% |
| Remuneration and social security | 454/9 | €7,707 | €6,202 | -€1,505 | -19.5% |
| Other amounts payable | 47/48 | €9,234 | €10,050 | +€816 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,876 | €6,999 | +€123 | +1.8% |
| Other operating charges | 640/8 | €342 | €449 | +€108 | +31.5% |
| Gross operating margin | 9900 | €39,848 | €10,049 | -€29,799 | -74.8% |
| Operating profit (loss) | 9901 | €32,630 | €2,601 | -€30,029 | -92.0% |
| Financial income | 75/76B | €0 | €0 | +€0 | +1,400% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +1,400% |
| Financial charges | 65/66B | €97 | €96 | -€1 | -1.3% |
| Recurring financial charges | 65 | €97 | €96 | -€1 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €32,534 | €2,506 | -€30,028 | -92.3% |
| Income taxes | 67/77 | €6,635 | €6,160 | -€475 | -7.2% |
| Profit (loss) for the period | 9904 | €25,899 | -€3,654 | -€29,553 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,899 | -€3,654 | -€29,553 |
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 14 October 2026 via checked.be.