Isabelle Ferrant: what changed
Two fiscal 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 Ferrant
Largest movements
- Cash +€27,753
up €27,753 (+23.8%), from €116,549 to €144,302
mainly Other debts (+€65,597) and Tax, wage and social debts (+€21,250)
- Receivables within one year -€5,990
down €5,990 (-48.7%), from €12,303 to €6,313
of which Trade receivables: -€4,211
- Other debts +€65,597
up €65,597 (+5402.4%), from €1,214 to €66,811
- Profit (loss) carried forward -€64,065
down €64,065 (-62.6%), from €102,358 to €38,293
- Tax, wage and social debts +€21,250
up €21,250 (+269.1%), from €7,897 to €29,147
- Trade debts -€1,571
down €1,571 (-39.5%), from €3,978 to €2,407
- Taxes -€2,101
down €2,101 (-35.6%), from €5,908 to €3,807
- Gross operating margin -€1,171
down €1,171 (-5.3%), from €22,152 to €20,980
- Depreciation -€313
down €313 (-36.2%), from €864 to €552
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.
Cash bridge derived
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 | €129,707 | €150,918 | +€21,211 | +16.4% |
| Fixed assets | 21/28 | €855 | €303 | -€552 | -64.5% |
| Tangible fixed assets | 22/27 | €855 | €303 | -€552 | -64.5% |
| Furniture and vehicles | 24 | €855 | €303 | -€552 | -64.5% |
| Current assets | 29/58 | €128,852 | €150,615 | +€21,763 | +16.9% |
| Amounts receivable within one year | 40/41 | €12,303 | €6,313 | -€5,990 | -48.7% |
| Trade receivables | 40 | €4,211 | - | -€4,211 | |
| Other amounts receivable | 41 | €8,092 | €6,313 | -€1,779 | -22.0% |
| Cash at bank and in hand | 54/58 | €116,549 | €144,302 | +€27,753 | +23.8% |
| Total equity and liabilities | 10/49 | €129,707 | €150,918 | +€21,211 | +16.4% |
| Equity | 10/15 | €116,618 | €52,553 | -€64,065 | -54.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €102,358 | €38,293 | -€64,065 | -62.6% |
| Amounts payable | 17/49 | €13,089 | €98,365 | +€85,276 | +651.5% |
| Amounts payable within one year | 42/48 | €13,089 | €98,365 | +€85,276 | +651.5% |
| Trade debts | 44 | €3,978 | €2,407 | -€1,571 | -39.5% |
| Suppliers | 440/4 | €3,978 | €2,407 | -€1,571 | -39.5% |
| Taxes, remuneration and social security | 45 | €7,897 | €29,147 | +€21,250 | +269.1% |
| Taxes | 450/3 | €7,897 | €29,147 | +€21,250 | +269.1% |
| Other amounts payable | 47/48 | €1,214 | €66,811 | +€65,597 | +5402.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €864 | €552 | -€313 | -36.2% |
| Other operating charges | 640/8 | €387 | €503 | +€115 | +29.8% |
| Gross operating margin | 9900 | €22,152 | €20,980 | -€1,171 | -5.3% |
| Operating profit (loss) | 9901 | €20,900 | €19,926 | -€974 | -4.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €165 | €184 | +€18 | +11.0% |
| Recurring financial charges | 65 | €165 | €184 | +€18 | +11.0% |
| Profit (loss) for the period before taxes | 9903 | €20,734 | €19,742 | -€992 | -4.8% |
| Income taxes | 67/77 | €5,908 | €3,807 | -€2,101 | -35.6% |
| Profit (loss) for the period | 9904 | €14,826 | €15,935 | +€1,109 | +7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,826 | €15,935 | +€1,109 | +7.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.