ISABELLE COMBES: 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.
ISABELLE COMBES
Largest movements
- Receivables after one year -€30,780
down €30,780 (-14.2%), from €217,208 to €186,428
- Current investments +€30,588
up €30,588 (+39.2%), from €77,970 to €108,558
- Cash +€24,429
up €24,429 (+57.5%), from €42,509 to €66,938
mainly Net result for the year (+€74,162) and Receivables after one year (+€30,780)
- Reserves +€41,762
up €41,762 (+13.0%), from €322,097 to €363,859
- Other debts -€16,255
down €16,255 (-86.8%), from €18,719 to €2,464
- Gross operating margin +€4,130
up €4,130 (+4.6%), from €89,977 to €94,107
- Financial charges +€1,330
up €1,330 (+55.5%), from €2,395 to €3,725
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 | €365,229 | €391,285 | +€26,056 | +7.1% |
| Fixed assets | 21/28 | €2,345 | €2,731 | +€385 | +16.4% |
| Tangible fixed assets | 22/27 | €2,345 | €2,731 | +€385 | +16.4% |
| Plant, machinery and equipment | 23 | - | €1,220 | +€1,220 | |
| Furniture and vehicles | 24 | €2,345 | €1,511 | -€834 | -35.6% |
| Current assets | 29/58 | €362,884 | €388,554 | +€25,671 | +7.1% |
| Amounts receivable after more than one year | 29 | €217,208 | €186,428 | -€30,780 | -14.2% |
| Other amounts receivable | 291 | €217,208 | €186,428 | -€30,780 | -14.2% |
| Amounts receivable within one year | 40/41 | €13,208 | €13,608 | +€400 | +3.0% |
| Trade receivables | 40 | €13,208 | €13,608 | +€400 | +3.0% |
| Current investments | 50/53 | €77,970 | €108,558 | +€30,588 | +39.2% |
| Cash at bank and in hand | 54/58 | €42,509 | €66,938 | +€24,429 | +57.5% |
| Deferred charges and accrued income | 490/1 | €11,988 | €13,022 | +€1,034 | +8.6% |
| Total equity and liabilities | 10/49 | €365,229 | €391,285 | +€26,056 | +7.1% |
| Equity | 10/15 | €334,597 | €376,359 | +€41,762 | +12.5% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €322,097 | €363,859 | +€41,762 | +13.0% |
| Distributable reserves | 133 | €322,097 | €363,859 | +€41,762 | +13.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €30,632 | €14,926 | -€15,705 | -51.3% |
| Amounts payable within one year | 42/48 | €30,632 | €14,926 | -€15,705 | -51.3% |
| Trade debts | 44 | €698 | €30 | -€668 | -95.7% |
| Suppliers | 440/4 | €698 | €30 | -€668 | -95.7% |
| Taxes, remuneration and social security | 45 | €11,214 | €12,432 | +€1,218 | +10.9% |
| Taxes | 450/3 | €11,214 | €12,432 | +€1,218 | +10.9% |
| Other amounts payable | 47/48 | €18,719 | €2,464 | -€16,255 | -86.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €834 | €889 | +€55 | +6.6% |
| Other operating charges | 640/8 | €728 | €673 | -€55 | -7.6% |
| Gross operating margin | 9900 | €89,977 | €94,107 | +€4,130 | +4.6% |
| Operating profit (loss) | 9901 | €88,415 | €92,545 | +€4,130 | +4.7% |
| Financial income | 75/76B | €12,882 | €13,423 | +€541 | +4.2% |
| Recurring financial income | 75 | €12,882 | €13,423 | +€541 | +4.2% |
| Financial charges | 65/66B | €2,395 | €3,725 | +€1,330 | +55.5% |
| Recurring financial charges | 65 | €2,395 | €3,725 | +€1,330 | +55.5% |
| Profit (loss) for the period before taxes | 9903 | €98,902 | €102,244 | +€3,341 | +3.4% |
| Income taxes | 67/77 | €27,159 | €28,082 | +€923 | +3.4% |
| Profit (loss) for the period | 9904 | €71,743 | €74,162 | +€2,419 | +3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €71,743 | €74,162 | +€2,419 | +3.4% |
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 15 October 2026 via checked.be.