APOTHEEK SMETS: 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.
APOTHEEK SMETS
Largest movements
- Cash +€66,406
up €66,406 (+292%), from €22,721 to €89,126
mainly Net result for the year (+€114,404) and Trade debts (+€74,769)
- Tangible fixed assets -€36,539
down €36,539 (-4.1%), from €886,314 to €849,775
of which Land and buildings: -€39,499
- Stocks and contracts +€20,760
up €20,760 (+11.5%), from €180,146 to €200,906
- Receivables within one year +€18,151
up €18,151 (+5.6%), from €325,581 to €343,732
of which Other amounts receivable: +€17,961
- Trade debts +€74,769
up €74,769 (+97.3%), from €76,861 to €151,630
- Debts after one year -€53,447
down €53,447 (-8.5%), from €628,638 to €575,191
- Reserves +€43,100
up €43,100 (+11.8%), from €364,771 to €407,871
of which Distributable reserves: +€54,360
- Gross operating margin +€58,136
up €58,136 (+20.4%), from €285,244 to €343,380
- Staff costs +€12,227
up €12,227 (+10.3%), from €119,091 to €131,318
- Taxes +€8,750
up €8,750 (+86.3%), from €10,139 to €18,888
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 | €1,418,983 | €1,489,389 | +€70,406 | +5.0% |
| Fixed assets | 21/28 | €886,315 | €849,776 | -€36,539 | -4.1% |
| Tangible fixed assets | 22/27 | €886,314 | €849,775 | -€36,539 | -4.1% |
| Land and buildings | 22 | €863,262 | €823,763 | -€39,499 | -4.6% |
| Plant, machinery and equipment | 23 | €10,814 | €13,774 | +€2,960 | +27.4% |
| Other tangible fixed assets | 26 | €12,238 | €12,238 | = | 0.0% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €532,668 | €639,613 | +€106,945 | +20.1% |
| Stocks and contracts in progress | 3 | €180,146 | €200,906 | +€20,760 | +11.5% |
| Stocks | 30/36 | €180,146 | €200,906 | +€20,760 | +11.5% |
| Amounts receivable within one year | 40/41 | €325,581 | €343,732 | +€18,151 | +5.6% |
| Trade receivables | 40 | €89,757 | €89,947 | +€190 | +0.2% |
| Other amounts receivable | 41 | €235,824 | €253,785 | +€17,961 | +7.6% |
| Cash at bank and in hand | 54/58 | €22,721 | €89,126 | +€66,406 | +292% |
| Deferred charges and accrued income | 490/1 | €4,220 | €5,849 | +€1,629 | +38.6% |
| Total equity and liabilities | 10/49 | €1,418,983 | €1,489,389 | +€70,406 | +5.0% |
| Equity | 10/15 | €375,889 | €420,292 | +€44,404 | +11.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €364,771 | €407,871 | +€43,100 | +11.8% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €155,411 | €146,011 | -€9,400 | -6.0% |
| Distributable reserves | 133 | €207,500 | €261,860 | +€54,360 | +26.2% |
| Profit (loss) carried forward | 14 | €4,918 | €6,221 | +€1,303 | +26.5% |
| Provisions and deferred taxes | 16 | €51,804 | €48,670 | -€3,133 | -6.0% |
| Deferred taxes | 168 | €51,804 | €48,670 | -€3,133 | -6.0% |
| Amounts payable | 17/49 | €991,291 | €1,020,426 | +€29,135 | +2.9% |
| Amounts payable after more than one year | 17 | €628,638 | €575,191 | -€53,447 | -8.5% |
| Financial debts | 170/4 | €628,638 | €575,191 | -€53,447 | -8.5% |
| Amounts payable within one year | 42/48 | €358,972 | €440,495 | +€81,522 | +22.7% |
| Current portion of amounts payable after more than one year | 42 | €54,022 | €53,447 | -€576 | -1.1% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €76,861 | €151,630 | +€74,769 | +97.3% |
| Suppliers | 440/4 | €76,861 | €151,630 | +€74,769 | +97.3% |
| Taxes, remuneration and social security | 45 | €15,176 | €15,418 | +€242 | +1.6% |
| Taxes | 450/3 | €139 | €139 | -€0 | -0.2% |
| Remuneration and social security | 454/9 | €15,037 | €15,280 | +€243 | +1.6% |
| Other amounts payable | 47/48 | €62,914 | €70,000 | +€7,086 | +11.3% |
| Accrued charges and deferred income | 492/3 | €3,681 | €4,740 | +€1,060 | +28.8% |
| Remuneration, social security and pensions | 62 | €119,091 | €131,318 | +€12,227 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,742 | €43,939 | +€196 | +0.4% |
| Other operating charges | 640/8 | €6,042 | €8,485 | +€2,443 | +40.4% |
| Gross operating margin | 9900 | €285,244 | €343,380 | +€58,136 | +20.4% |
| Operating profit (loss) | 9901 | €116,369 | €159,638 | +€43,269 | +37.2% |
| Financial income | 75/76B | €415 | €598 | +€184 | +44.3% |
| Recurring financial income | 75 | €415 | €598 | +€184 | +44.3% |
| Financial charges | 65/66B | €32,890 | €30,078 | -€2,812 | -8.5% |
| Recurring financial charges | 65 | €32,890 | €30,078 | -€2,812 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €83,893 | €130,158 | +€46,265 | +55.1% |
| Transfer from deferred taxes | 780 | €3,133 | €3,133 | = | 0.0% |
| Income taxes | 67/77 | €10,139 | €18,888 | +€8,750 | +86.3% |
| Profit (loss) for the period | 9904 | €76,888 | €114,404 | +€37,516 | +48.8% |
| Transfer from tax-exempt reserves | 789 | €9,400 | €9,400 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €86,288 | €123,803 | +€37,516 | +43.5% |
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 23 October 2026 via checked.be.