DRS. MENU - ISEBAERT: what changed
DRS. MENU - ISEBAERT
Largest movements
- Cash +€528,811
up €528,811 (+3,500%), from €15,107 to €543,918
mainly Current investments (+€450,000) and Net result for the year (+€66,853)
- Current investments -€450,000
down €450,000 (-81.8%), from €550,000 to €100,000
- Reserves +€66,853
up €66,853 (+12.7%), from €525,458 to €592,311
of which Distributable reserves: +€66,853
- Tax, wage and social debts +€15,042
up €15,042 (+107%), from €14,055 to €29,096
- Gross operating margin -€11,516
down €11,516 (-12.5%), from €92,266 to €80,750
- Financial income +€10,365
up €10,365 (+81.8%), from €12,664 to €23,029
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 | €574,921 | €651,980 | +€77,059 | +13.4% |
| Fixed assets | 21/28 | €9,390 | €7,626 | -€1,763 | -18.8% |
| Tangible fixed assets | 22/27 | €9,390 | €7,626 | -€1,763 | -18.8% |
| Land and buildings | 22 | €5,275 | €4,378 | -€898 | -17.0% |
| Plant, machinery and equipment | 23 | €4,114 | €3,249 | -€866 | -21.0% |
| Current assets | 29/58 | €565,531 | €644,353 | +€78,823 | +13.9% |
| Current investments | 50/53 | €550,000 | €100,000 | -€450,000 | -81.8% |
| Cash at bank and in hand | 54/58 | €15,107 | €543,918 | +€528,811 | +3,500% |
| Deferred charges and accrued income | 490/1 | €423 | €435 | +€12 | +2.8% |
| Total equity and liabilities | 10/49 | €574,921 | €651,980 | +€77,059 | +13.4% |
| Equity | 10/15 | €531,658 | €598,511 | +€66,853 | +12.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €525,458 | €592,311 | +€66,853 | +12.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €523,598 | €590,451 | +€66,853 | +12.8% |
| Amounts payable | 17/49 | €43,262 | €53,468 | +€10,206 | +23.6% |
| Amounts payable within one year | 42/48 | €43,262 | €53,468 | +€10,206 | +23.6% |
| Trade debts | 44 | €792 | €826 | +€34 | +4.3% |
| Suppliers | 440/4 | €792 | €826 | +€34 | +4.3% |
| Taxes, remuneration and social security | 45 | €14,055 | €29,096 | +€15,042 | +107% |
| Taxes | 450/3 | €14,055 | €29,096 | +€15,042 | +107% |
| Other amounts payable | 47/48 | €28,416 | €23,546 | -€4,869 | -17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,267 | €1,763 | -€504 | -22.2% |
| Other operating charges | 640/8 | €1,097 | €1,068 | -€29 | -2.6% |
| Gross operating margin | 9900 | €92,266 | €80,750 | -€11,516 | -12.5% |
| Operating profit (loss) | 9901 | €88,901 | €77,918 | -€10,983 | -12.4% |
| Financial income | 75/76B | €12,664 | €23,029 | +€10,365 | +81.8% |
| Recurring financial income | 75 | €12,664 | €23,029 | +€10,365 | +81.8% |
| Financial charges | 65/66B | €2,423 | €2,024 | -€399 | -16.5% |
| Recurring financial charges | 65 | €2,423 | €2,024 | -€399 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €99,143 | €98,923 | -€220 | -0.2% |
| Income taxes | 67/77 | €32,139 | €32,070 | -€69 | -0.2% |
| Profit (loss) for the period | 9904 | €67,004 | €66,853 | -€151 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €67,004 | €66,853 | -€151 | -0.2% |
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.