ISABELLE SIERJACOBS: 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 SIERJACOBS
Largest movements
- Cash -€20,694
down €20,694 (-78.2%), from €26,464 to €5,770
mainly Contributions, distributions and other (-€30,000) and Debts after one year (-€6,098)
- Tangible fixed assets -€5,281
down €5,281 (-41.4%), from €12,762 to €7,481
of which Furniture and vehicles: -€3,253
- Receivables within one year +€4,465
up €4,465 (+31.9%), from €13,990 to €18,454
of which Other amounts receivable: +€5,817
- Reserves -€29,831
down €29,831 (-99.2%), from €30,058 to €228
- Other debts +€12,630
up €12,630 (+1,528%), from €827 to €13,456
- Debts after one year -€6,098
down €6,098 (-100%), from €6,098 to €0
- Trade debts +€2,324
up €2,324 (+385%), from €604 to €2,928
- Tax, wage and social debts +€1,123
up €1,123 (+14.5%), from €7,733 to €8,856
- Gross operating margin -€29,380
down €29,380 (-74.2%), from €39,570 to €10,190
- Taxes -€4,745
down €4,745 (-83.1%), from €5,713 to €967
- Depreciation -€3,744
down €3,744 (-41.5%), from €9,025 to €5,281
- Staff costs -€3,171
down €3,171 (-96.4%), from €3,290 to €119
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 | €57,524 | €36,566 | -€20,958 | -36.4% |
| Fixed assets | 21/28 | €12,762 | €7,481 | -€5,281 | -41.4% |
| Tangible fixed assets | 22/27 | €12,762 | €7,481 | -€5,281 | -41.4% |
| Plant, machinery and equipment | 23 | €6,610 | €4,581 | -€2,028 | -30.7% |
| Furniture and vehicles | 24 | €3,253 | €0 | -€3,253 | -100% |
| Other tangible fixed assets | 26 | €2,900 | €2,900 | = | 0.0% |
| Current assets | 29/58 | €44,761 | €29,084 | -€15,677 | -35.0% |
| Amounts receivable within one year | 40/41 | €13,990 | €18,454 | +€4,465 | +31.9% |
| Trade receivables | 40 | €13,990 | €12,637 | -€1,352 | -9.7% |
| Other amounts receivable | 41 | €0 | €5,817 | +€5,817 | |
| Cash at bank and in hand | 54/58 | €26,464 | €5,770 | -€20,694 | -78.2% |
| Deferred charges and accrued income | 490/1 | €4,308 | €4,860 | +€553 | +12.8% |
| Total equity and liabilities | 10/49 | €57,524 | €36,566 | -€20,958 | -36.4% |
| Equity | 10/15 | €35,058 | €5,228 | -€29,831 | -85.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €30,058 | €228 | -€29,831 | -99.2% |
| Distributable reserves | 133 | €30,058 | €228 | -€29,831 | -99.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €22,465 | €31,338 | +€8,873 | +39.5% |
| Amounts payable after more than one year | 17 | €6,098 | €0 | -€6,098 | -100% |
| Financial debts | 170/4 | €6,098 | €0 | -€6,098 | -100% |
| Amounts payable within one year | 42/48 | €16,223 | €31,338 | +€15,114 | +93.2% |
| Current portion of amounts payable after more than one year | 42 | €7,060 | €6,098 | -€962 | -13.6% |
| Trade debts | 44 | €604 | €2,928 | +€2,324 | +385% |
| Suppliers | 440/4 | €604 | €2,928 | +€2,324 | +385% |
| Taxes, remuneration and social security | 45 | €7,733 | €8,856 | +€1,123 | +14.5% |
| Taxes | 450/3 | €7,733 | €8,856 | +€1,123 | +14.5% |
| Other amounts payable | 47/48 | €827 | €13,456 | +€12,630 | +1,528% |
| Accrued charges and deferred income | 492/3 | €144 | €0 | -€144 | -100% |
| Remuneration, social security and pensions | 62 | €3,290 | €119 | -€3,171 | -96.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,025 | €5,281 | -€3,744 | -41.5% |
| Other operating charges | 640/8 | €528 | €798 | +€270 | +51.2% |
| Gross operating margin | 9900 | €39,570 | €10,190 | -€29,380 | -74.2% |
| Operating profit (loss) | 9901 | €26,727 | €3,991 | -€22,736 | -85.1% |
| Financial income | 75/76B | €0 | €64 | +€64 | |
| Recurring financial income | 75 | €0 | €64 | +€64 | |
| Financial charges | 65/66B | €2,880 | €2,918 | +€39 | +1.3% |
| Recurring financial charges | 65 | €2,880 | €2,918 | +€39 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | €23,847 | €1,137 | -€22,711 | -95.2% |
| Income taxes | 67/77 | €5,713 | €967 | -€4,745 | -83.1% |
| Profit (loss) for the period | 9904 | €18,135 | €169 | -€17,965 | -99.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,135 | €169 | -€17,965 | -99.1% |
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 31 October 2026 via checked.be.