Dr. Isaline Demarcin: 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.
Dr. Isaline Demarcin
Largest movements
- Cash +€46,943
up €46,943 (+173%), from €27,174 to €74,117
mainly Net result for the year (+€44,300) and Tax, wage and social debts (+€8,996)
- Receivables within one year +€3,612
up €3,612 (+1,485%), from €243 to €3,855
- Tangible fixed assets +€2,730
new in 2025: €2,730
of which Furniture and vehicles: +€1,438
- Profit (loss) carried forward +€22,300
up €22,300 (+379%), from €5,881 to €28,181
- Reserves +€22,000
up €22,000 (+220%), from €10,000 to €32,000
- Tax, wage and social debts +€8,996
up €8,996 (+106%), from €8,526 to €17,522
- Gross operating margin +€35,764
up €35,764 (+169%), from €21,207 to €56,971
- Taxes +€6,738
up €6,738 (+126%), from €5,328 to €12,066
- Depreciation +€920
new in 2025: €920
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 | €27,417 | €80,702 | +€53,285 | +194% |
| Fixed assets | 21/28 | - | €2,730 | +€2,730 | |
| Tangible fixed assets | 22/27 | - | €2,730 | +€2,730 | |
| Plant, machinery and equipment | 23 | - | €1,293 | +€1,293 | |
| Furniture and vehicles | 24 | - | €1,438 | +€1,438 | |
| Current assets | 29/58 | €27,417 | €77,972 | +€50,555 | +184% |
| Amounts receivable within one year | 40/41 | €243 | €3,855 | +€3,612 | +1,485% |
| Other amounts receivable | 41 | €243 | €3,855 | +€3,612 | +1,485% |
| Cash at bank and in hand | 54/58 | €27,174 | €74,117 | +€46,943 | +173% |
| Total equity and liabilities | 10/49 | €27,417 | €80,702 | +€53,285 | +194% |
| Equity | 10/15 | €18,881 | €63,181 | +€44,300 | +235% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €32,000 | +€22,000 | +220% |
| Distributable reserves | 133 | €10,000 | €32,000 | +€22,000 | +220% |
| Profit (loss) carried forward | 14 | €5,881 | €28,181 | +€22,300 | +379% |
| Amounts payable | 17/49 | €8,536 | €17,522 | +€8,986 | +105% |
| Amounts payable within one year | 42/48 | €8,536 | €17,522 | +€8,986 | +105% |
| Trade debts | 44 | €10 | €0 | -€10 | -100% |
| Suppliers | 440/4 | €10 | €0 | -€10 | -100% |
| Taxes, remuneration and social security | 45 | €8,526 | €17,522 | +€8,996 | +106% |
| Taxes | 450/3 | €8,526 | €17,522 | +€8,996 | +106% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €920 | +€920 | |
| Gross operating margin | 9900 | €21,207 | €56,971 | +€35,764 | +169% |
| Operating profit (loss) | 9901 | €21,207 | €56,052 | +€34,845 | +164% |
| Financial income | 75/76B | €2 | €420 | +€419 | +22,143% |
| Recurring financial income | 75 | €2 | €420 | +€419 | +22,143% |
| Financial charges | 65/66B | - | €107 | +€107 | |
| Recurring financial charges | 65 | - | €107 | +€107 | |
| Profit (loss) for the period before taxes | 9903 | €21,209 | €56,365 | +€35,156 | +166% |
| Income taxes | 67/77 | €5,328 | €12,066 | +€6,738 | +126% |
| Profit (loss) for the period | 9904 | €15,881 | €44,300 | +€28,418 | +179% |
| Profit (loss) for the period to be appropriated | 9905 | €15,881 | €44,300 | +€28,418 | +179% |
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 31 October 2026 via checked.be.