Isabelle Meunier: 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 Meunier
Largest movements
- Cash +€182,741
up €182,741 (+274%), from €66,757 to €249,498
mainly Net result for the year (+€124,034) and Tax, wage and social debts (+€52,760)
- Reserves +€124,034
up €124,034 (+310%), from €39,953 to €163,987
- Tax, wage and social debts +€52,760
up €52,760 (+287%), from €18,415 to €71,175
- Other debts +€5,295
up €5,295 (+331%), from €1,598 to €6,893
- Gross operating margin +€112,279
up €112,279 (+219%), from €51,205 to €163,483
- Taxes +€27,345
up €27,345 (+266%), from €10,267 to €37,613
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 | €67,779 | €249,498 | +€181,719 | +268% |
| Current assets | 29/58 | €67,779 | €249,498 | +€181,719 | +268% |
| Amounts receivable within one year | 40/41 | €5 | €0 | -€5 | -100% |
| Other amounts receivable | 41 | €5 | €0 | -€5 | -100% |
| Cash at bank and in hand | 54/58 | €66,757 | €249,498 | +€182,741 | +274% |
| Deferred charges and accrued income | 490/1 | €1,017 | €0 | -€1,017 | -100% |
| Total equity and liabilities | 10/49 | €67,779 | €249,498 | +€181,719 | +268% |
| Equity | 10/15 | €44,953 | €168,987 | +€124,034 | +276% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €39,953 | €163,987 | +€124,034 | +310% |
| Distributable reserves | 133 | €39,953 | €163,987 | +€124,034 | +310% |
| Amounts payable | 17/49 | €22,826 | €80,511 | +€57,685 | +253% |
| Amounts payable within one year | 42/48 | €22,826 | €80,511 | +€57,685 | +253% |
| Trade debts | 44 | €2,813 | €2,443 | -€370 | -13.2% |
| Suppliers | 440/4 | €2,813 | €2,443 | -€370 | -13.2% |
| Taxes, remuneration and social security | 45 | €18,415 | €71,175 | +€52,760 | +287% |
| Taxes | 450/3 | €18,415 | €71,175 | +€52,760 | +287% |
| Other amounts payable | 47/48 | €1,598 | €6,893 | +€5,295 | +331% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €51,205 | €163,483 | +€112,279 | +219% |
| Operating profit (loss) | 9901 | €50,817 | €163,084 | +€112,266 | +221% |
| Financial charges | 65/66B | €597 | €1,437 | +€839 | +141% |
| Recurring financial charges | 65 | €597 | €1,437 | +€839 | +141% |
| Profit (loss) for the period before taxes | 9903 | €50,220 | €161,647 | +€111,427 | +222% |
| Income taxes | 67/77 | €10,267 | €37,613 | +€27,345 | +266% |
| Profit (loss) for the period | 9904 | €39,953 | €124,034 | +€84,081 | +210% |
| Profit (loss) for the period to be appropriated | 9905 | €39,953 | €124,034 | +€84,081 | +210% |
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 17 October 2026 via checked.be.