Tom Van Isacker: 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.
Tom Van Isacker
Largest movements
- Cash +€17,551
up €17,551 (+82.2%), from €21,360 to €38,911
mainly Net result for the year (+€18,662) and Depreciation (+€4,138)
- Tangible fixed assets -€4,138
down €4,138 (-21.6%), from €19,115 to €14,977
of which Leasing and similar rights: -€3,963
- Reserves +€18,662
up €18,662 (+148.7%), from €12,547 to €31,209
- Debts after one year -€5,528
down €5,528 (-47.0%), from €11,758 to €6,230
- Trade debts -€2,068
down €2,068 (-67.2%), from €3,077 to €1,009
- Tax, wage and social debts +€1,730
up €1,730 (+16.8%), from €10,320 to €12,049
- Gross operating margin +€6,408
up €6,408 (+24.1%), from €26,612 to €33,020
- Taxes +€2,652
up €2,652 (+44.1%), from €6,018 to €8,670
- Depreciation -€1,170
down €1,170 (-22.0%), from €5,308 to €4,138
- Other operating charges -€1,033
down €1,033 (-51.7%), from €2,000 to €967
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 | €44,024 | €57,025 | +€13,001 | +29.5% |
| Fixed assets | 21/28 | €19,115 | €14,977 | -€4,138 | -21.6% |
| Tangible fixed assets | 22/27 | €19,115 | €14,977 | -€4,138 | -21.6% |
| Furniture and vehicles | 24 | €367 | €192 | -€175 | -47.6% |
| Leasing and similar rights | 25 | €18,748 | €14,785 | -€3,963 | -21.1% |
| Current assets | 29/58 | €24,909 | €42,048 | +€17,139 | +68.8% |
| Amounts receivable within one year | 40/41 | €969 | €704 | -€266 | -27.4% |
| Trade receivables | 40 | - | €74 | +€74 | |
| Other amounts receivable | 41 | €969 | €630 | -€339 | -35.0% |
| Cash at bank and in hand | 54/58 | €21,360 | €38,911 | +€17,551 | +82.2% |
| Deferred charges and accrued income | 490/1 | €2,579 | €2,433 | -€146 | -5.6% |
| Total equity and liabilities | 10/49 | €44,024 | €57,025 | +€13,001 | +29.5% |
| Equity | 10/15 | €13,547 | €32,209 | +€18,662 | +137.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €12,547 | €31,209 | +€18,662 | +148.7% |
| Distributable reserves | 133 | €12,547 | €31,209 | +€18,662 | +148.7% |
| Amounts payable | 17/49 | €30,477 | €24,816 | -€5,661 | -18.6% |
| Amounts payable after more than one year | 17 | €11,758 | €6,230 | -€5,528 | -47.0% |
| Financial debts | 170/4 | €11,758 | €6,230 | -€5,528 | -47.0% |
| Amounts payable within one year | 42/48 | €18,719 | €18,586 | -€133 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €5,323 | €5,528 | +€205 | +3.9% |
| Trade debts | 44 | €3,077 | €1,009 | -€2,068 | -67.2% |
| Suppliers | 440/4 | €3,077 | €1,009 | -€2,068 | -67.2% |
| Taxes, remuneration and social security | 45 | €10,320 | €12,049 | +€1,730 | +16.8% |
| Taxes | 450/3 | €10,320 | €12,049 | +€1,730 | +16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,308 | €4,138 | -€1,170 | -22.0% |
| Other operating charges | 640/8 | €2,000 | €967 | -€1,033 | -51.7% |
| Gross operating margin | 9900 | €26,612 | €33,020 | +€6,408 | +24.1% |
| Operating profit (loss) | 9901 | €19,304 | €27,915 | +€8,611 | +44.6% |
| Financial income | 75/76B | €30 | €43 | +€13 | +43.1% |
| Recurring financial income | 75 | €30 | €43 | +€13 | +43.1% |
| Financial charges | 65/66B | €769 | €626 | -€143 | -18.6% |
| Recurring financial charges | 65 | €769 | €626 | -€143 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €18,565 | €27,332 | +€8,767 | +47.2% |
| Income taxes | 67/77 | €6,018 | €8,670 | +€2,652 | +44.1% |
| Profit (loss) for the period | 9904 | €12,547 | €18,662 | +€6,115 | +48.7% |
| Profit (loss) for the period to be appropriated | 9905 | €12,547 | €18,662 | +€6,115 | +48.7% |
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 6 October 2026 via checked.be.