Isabeau: 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.
Isabeau
Largest movements
- Tangible fixed assets +€606,411
up €606,411 (+1,457%), from €41,634 to €648,045
of which Land and buildings: +€643,540
- Stocks and contracts +€67,373
up €67,373 (+51.8%), from €130,137 to €197,510
- Receivables within one year -€39,022
no longer reported in 2025 (was €39,022)
of which Other amounts receivable: -€29,342
- Cash -€31,856
down €31,856 (-38.7%), from €82,347 to €50,491
mainly Investment in fixed assets (net) (-€621,613) and Stocks and contracts (-€67,373)
- Deferred charges and accrued income +€15,627
new in 2025: €15,627
- Debts after one year +€431,586
new in 2025: €431,586
- Other debts +€148,550
new in 2025: €148,550
- Profit (loss) carried forward +€45,291
up €45,291 (+72.5%), from €62,442 to €107,733
- Trade debts -€23,340
down €23,340 (-44.1%), from €52,905 to €29,565
- Tax, wage and social debts +€9,535
up €9,535 (+47.5%), from €20,069 to €29,604
- Gross operating margin +€58,436
up €58,436 (+117%), from €49,983 to €108,419
- Staff costs +€12,962
up €12,962 (+159%), from €8,128 to €21,089
- Financial charges +€4,309
up €4,309 (+117%), from €3,689 to €7,997
- Taxes +€3,242
up €3,242 (+27.5%), from €11,785 to €15,026
- Financial income -€1,904
no longer reported in 2025 (was €1,904)
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 | €294,164 | €912,244 | +€618,080 | +210% |
| Fixed assets | 21/28 | €42,658 | €648,615 | +€605,958 | +1,421% |
| Intangible fixed assets | 21 | €1,024 | €571 | -€453 | -44.2% |
| Tangible fixed assets | 22/27 | €41,634 | €648,045 | +€606,411 | +1,457% |
| Land and buildings | 22 | - | €643,540 | +€643,540 | |
| Plant, machinery and equipment | 23 | €3,996 | €2,057 | -€1,938 | -48.5% |
| Furniture and vehicles | 24 | €6,494 | €2,447 | -€4,046 | -62.3% |
| Other tangible fixed assets | 26 | €31,145 | - | -€31,145 | |
| Current assets | 29/58 | €251,506 | €263,629 | +€12,122 | +4.8% |
| Stocks and contracts in progress | 3 | €130,137 | €197,510 | +€67,373 | +51.8% |
| Stocks | 30/36 | €130,137 | €197,510 | +€67,373 | +51.8% |
| Amounts receivable within one year | 40/41 | €39,022 | - | -€39,022 | |
| Trade receivables | 40 | €9,680 | - | -€9,680 | |
| Other amounts receivable | 41 | €29,342 | - | -€29,342 | |
| Cash at bank and in hand | 54/58 | €82,347 | €50,491 | -€31,856 | -38.7% |
| Deferred charges and accrued income | 490/1 | - | €15,627 | +€15,627 | |
| Total equity and liabilities | 10/49 | €294,164 | €912,244 | +€618,080 | +210% |
| Equity | 10/15 | €196,190 | €241,481 | +€45,291 | +23.1% |
| Contributions | 10/11 | €21,020 | €21,020 | = | 0.0% |
| Reserves | 13 | €112,728 | €112,728 | = | 0.0% |
| Distributable reserves | 133 | €112,728 | €112,728 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,442 | €107,733 | +€45,291 | +72.5% |
| Amounts payable | 17/49 | €97,974 | €670,763 | +€572,789 | +585% |
| Amounts payable after more than one year | 17 | - | €431,586 | +€431,586 | |
| Financial debts | 170/4 | - | €431,586 | +€431,586 | |
| Amounts payable within one year | 42/48 | €97,974 | €239,177 | +€141,202 | +144% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €31,457 | +€6,457 | +25.8% |
| Trade debts | 44 | €52,905 | €29,565 | -€23,340 | -44.1% |
| Suppliers | 440/4 | €52,905 | €29,565 | -€23,340 | -44.1% |
| Taxes, remuneration and social security | 45 | €20,069 | €29,604 | +€9,535 | +47.5% |
| Taxes | 450/3 | €20,069 | €29,604 | +€9,535 | +47.5% |
| Other amounts payable | 47/48 | - | €148,550 | +€148,550 | |
| Non-recurring operating income | 76A | €7,544 | - | -€7,544 | |
| Remuneration, social security and pensions | 62 | €8,128 | €21,089 | +€12,962 | +159% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,252 | €15,655 | +€403 | +2.6% |
| Other operating charges | 640/8 | €2,278 | €3,360 | +€1,082 | +47.5% |
| Gross operating margin | 9900 | €49,983 | €108,419 | +€58,436 | +117% |
| Operating profit (loss) | 9901 | €24,325 | €68,315 | +€43,990 | +181% |
| Financial income | 75/76B | €1,904 | - | -€1,904 | |
| Recurring financial income | 75 | €1,904 | - | -€1,904 | |
| Financial charges | 65/66B | €3,689 | €7,997 | +€4,309 | +117% |
| Recurring financial charges | 65 | €3,689 | €7,997 | +€4,309 | +117% |
| Profit (loss) for the period before taxes | 9903 | €22,540 | €60,317 | +€37,777 | +168% |
| Income taxes | 67/77 | €11,785 | €15,026 | +€3,242 | +27.5% |
| Profit (loss) for the period | 9904 | €10,756 | €45,291 | +€34,535 | +321% |
| Profit (loss) for the period to be appropriated | 9905 | €10,756 | €45,291 | +€34,535 | +321% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.