ISABEL VANNESTE: 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.
ISABEL VANNESTE
Largest movements
- Receivables within one year +€5,639
up €5,639 (+70.7%), from €7,972 to €13,610
of which Trade receivables: +€4,698
- Cash -€4,350
down €4,350 (-55.1%), from €7,889 to €3,539
mainly Receivables within one year (-€5,639) and Investment in fixed assets (net) (-€3,040)
- Tangible fixed assets +€1,160
up €1,160 (+28.5%), from €4,068 to €5,227
of which Furniture and vehicles: +€1,636
- Tax, wage and social debts +€2,302
up €2,302 (+516%), from €446 to €2,748
- Reserves +€1,297
up €1,297 (+13.0%), from €9,953 to €11,250
- Other debts -€1,214
down €1,214 (-26.3%), from €4,622 to €3,408
- Gross operating margin -€10,802
down €10,802 (-69.1%), from €15,635 to €4,833
- Taxes -€3,029
down €3,029 (-73.6%), from €4,117 to €1,088
- Depreciation +€749
up €749 (+66.1%), from €1,132 to €1,881
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 | €20,022 | €22,406 | +€2,384 | +11.9% |
| Fixed assets | 21/28 | €4,068 | €5,227 | +€1,160 | +28.5% |
| Tangible fixed assets | 22/27 | €4,068 | €5,227 | +€1,160 | +28.5% |
| Plant, machinery and equipment | 23 | €966 | €490 | -€476 | -49.3% |
| Furniture and vehicles | 24 | €3,101 | €4,737 | +€1,636 | +52.7% |
| Current assets | 29/58 | €15,954 | €17,179 | +€1,225 | +7.7% |
| Amounts receivable within one year | 40/41 | €7,972 | €13,610 | +€5,639 | +70.7% |
| Trade receivables | 40 | - | €4,698 | +€4,698 | |
| Other amounts receivable | 41 | €7,972 | €8,912 | +€941 | +11.8% |
| Cash at bank and in hand | 54/58 | €7,889 | €3,539 | -€4,350 | -55.1% |
| Deferred charges and accrued income | 490/1 | €93 | €29 | -€64 | -68.5% |
| Total equity and liabilities | 10/49 | €20,022 | €22,406 | +€2,384 | +11.9% |
| Equity | 10/15 | €14,953 | €16,250 | +€1,297 | +8.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €9,953 | €11,250 | +€1,297 | +13.0% |
| Distributable reserves | 133 | €9,953 | €11,250 | +€1,297 | +13.0% |
| Amounts payable | 17/49 | €5,068 | €6,155 | +€1,087 | +21.4% |
| Amounts payable within one year | 42/48 | €5,068 | €6,155 | +€1,087 | +21.4% |
| Taxes, remuneration and social security | 45 | €446 | €2,748 | +€2,302 | +516% |
| Taxes | 450/3 | €446 | €2,748 | +€2,302 | +516% |
| Other amounts payable | 47/48 | €4,622 | €3,408 | -€1,214 | -26.3% |
| Non-recurring operating income | 76A | €72 | €72 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,132 | €1,881 | +€749 | +66.1% |
| Other operating charges | 640/8 | €384 | €513 | +€129 | +33.5% |
| Gross operating margin | 9900 | €15,635 | €4,833 | -€10,802 | -69.1% |
| Operating profit (loss) | 9901 | €14,118 | €2,439 | -€11,680 | -82.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €48 | €54 | +€6 | +12.2% |
| Recurring financial charges | 65 | €48 | €54 | +€6 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €14,070 | €2,385 | -€11,685 | -83.1% |
| Income taxes | 67/77 | €4,117 | €1,088 | -€3,029 | -73.6% |
| Profit (loss) for the period | 9904 | €9,953 | €1,297 | -€8,656 | -87.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,953 | €1,297 | -€8,656 | -87.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.