Arne Smeets: 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.
Arne Smeets
Largest movements
- Receivables after one year +€216,519
up €216,519 (+50.5%), from €428,627 to €645,146
- Tangible fixed assets -€52,229
down €52,229 (-36.8%), from €141,822 to €89,593
- Cash -€35,249
down €35,249 (-52.9%), from €66,629 to €31,380
mainly Receivables after one year (-€216,519) and Contributions, distributions and other (-€150,000)
- Current investments +€17,388
up €17,388 (+53.4%), from €32,585 to €49,973
- Reserves +€232,431
up €232,431 (+70.0%), from €332,005 to €564,436
- Other debts -€85,890
down €85,890 (-47.9%), from €179,476 to €93,586
- Debts after one year -€19,339
down €19,339 (-51.4%), from €37,594 to €18,255
- Tax, wage and social debts +€14,206
up €14,206 (+17.1%), from €83,284 to €97,490
- Gross operating margin +€67,246
up €67,246 (+14.9%), from €452,099 to €519,345
- Taxes +€14,074
up €14,074 (+13.5%), from €104,150 to €118,224
- Depreciation +€9,626
up €9,626 (+49.5%), from €19,440 to €29,066
- Financial income +€8,146
up €8,146 (+58.3%), from €13,974 to €22,120
- Financial charges +€7,685
up €7,685 (+276%), from €2,785 to €10,471
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €672,627 | €827,072 | +€154,445 | +23.0% |
| Fixed assets | 21/28 | €144,301 | €92,072 | -€52,229 | -36.2% |
| Tangible fixed assets | 22/27 | €141,822 | €89,593 | -€52,229 | -36.8% |
| Land and buildings | 22 | €32,180 | €11,481 | -€20,699 | -64.3% |
| Plant, machinery and equipment | 23 | €1,919 | €3,168 | +€1,249 | +65.1% |
| Furniture and vehicles | 24 | €90,189 | €64,823 | -€25,366 | -28.1% |
| Other tangible fixed assets | 26 | €17,535 | €10,121 | -€7,413 | -42.3% |
| Financial fixed assets | 28 | €2,479 | €2,479 | = | 0.0% |
| Current assets | 29/58 | €528,325 | €734,999 | +€206,674 | +39.1% |
| Amounts receivable after more than one year | 29 | €428,627 | €645,146 | +€216,519 | +50.5% |
| Other amounts receivable | 291 | €428,627 | €645,146 | +€216,519 | +50.5% |
| Amounts receivable within one year | 40/41 | €484 | €8,500 | +€8,016 | +1,656% |
| Other amounts receivable | 41 | €484 | €8,500 | +€8,016 | +1,656% |
| Current investments | 50/53 | €32,585 | €49,973 | +€17,388 | +53.4% |
| Cash at bank and in hand | 54/58 | €66,629 | €31,380 | -€35,249 | -52.9% |
| Total equity and liabilities | 10/49 | €672,627 | €827,072 | +€154,445 | +23.0% |
| Equity | 10/15 | €350,555 | €582,986 | +€232,431 | +66.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €332,005 | €564,436 | +€232,431 | +70.0% |
| Distributable reserves | 133 | €332,005 | €564,436 | +€232,431 | +70.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €322,072 | €244,085 | -€77,986 | -24.2% |
| Amounts payable after more than one year | 17 | €37,594 | €18,255 | -€19,339 | -51.4% |
| Financial debts | 170/4 | €37,594 | €18,255 | -€19,339 | -51.4% |
| Amounts payable within one year | 42/48 | €282,741 | €217,012 | -€65,729 | -23.2% |
| Current portion of amounts payable after more than one year | 42 | €18,757 | €19,339 | +€582 | +3.1% |
| Trade debts | 44 | €1,224 | €6,597 | +€5,373 | +439% |
| Suppliers | 440/4 | €1,224 | €6,597 | +€5,373 | +439% |
| Taxes, remuneration and social security | 45 | €83,284 | €97,490 | +€14,206 | +17.1% |
| Taxes | 450/3 | €83,284 | €97,490 | +€14,206 | +17.1% |
| Other amounts payable | 47/48 | €179,476 | €93,586 | -€85,890 | -47.9% |
| Accrued charges and deferred income | 492/3 | €1,736 | €8,818 | +€7,082 | +408% |
| Non-recurring operating income | 76A | - | €13,516 | +€13,516 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,440 | €29,066 | +€9,626 | +49.5% |
| Other operating charges | 640/8 | €3,026 | €1,273 | -€1,753 | -57.9% |
| Non-recurring operating charges | 66A | €8,183 | €0 | -€8,183 | -100% |
| Gross operating margin | 9900 | €452,099 | €519,345 | +€67,246 | +14.9% |
| Operating profit (loss) | 9901 | €421,450 | €489,006 | +€67,556 | +16.0% |
| Financial income | 75/76B | €13,974 | €22,120 | +€8,146 | +58.3% |
| Recurring financial income | 75 | €13,974 | €22,120 | +€8,146 | +58.3% |
| Financial charges | 65/66B | €2,785 | €10,471 | +€7,685 | +276% |
| Recurring financial charges | 65 | €2,785 | €10,471 | +€7,685 | +276% |
| Profit (loss) for the period before taxes | 9903 | €432,638 | €500,655 | +€68,017 | +15.7% |
| Income taxes | 67/77 | €104,150 | €118,224 | +€14,074 | +13.5% |
| Profit (loss) for the period | 9904 | €328,488 | €382,431 | +€53,943 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €328,488 | €382,431 | +€53,943 | +16.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.