CAROLINE DE SMET: 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.
CAROLINE DE SMET
Largest movements
- Current investments -€120,000
no longer reported in 2025 (was €120,000)
- Cash +€82,975
up €82,975 (+572%), from €14,507 to €97,482
mainly Other debts (+€149,286) and Current investments (+€120,000)
- Receivables within one year +€41,035
up €41,035 (+231%), from €17,770 to €58,804
of which Other amounts receivable: +€38,875
- Other debts +€149,286
new in 2025: €149,286
- Reserves -€115,854
no longer reported in 2025 (was €115,854)
- Tax, wage and social debts -€32,038
down €32,038 (-88.7%), from €36,115 to €4,077
- Trade debts +€2,634
up €2,634 (+141%), from €1,873 to €4,506
- Gross operating margin -€8,747
down €8,747 (-17.4%), from €50,169 to €41,422
- Taxes -€2,282
down €2,282 (-19.9%), from €11,453 to €9,171
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 | €154,841 | €159,869 | +€5,028 | +3.2% |
| Fixed assets | 21/28 | €93 | - | -€93 | |
| Tangible fixed assets | 22/27 | €93 | - | -€93 | |
| Plant, machinery and equipment | 23 | €93 | - | -€93 | |
| Current assets | 29/58 | €154,748 | €159,869 | +€5,121 | +3.3% |
| Amounts receivable within one year | 40/41 | €17,770 | €58,804 | +€41,035 | +231% |
| Trade receivables | 40 | €7,784 | €9,944 | +€2,160 | +27.7% |
| Other amounts receivable | 41 | €9,985 | €48,861 | +€38,875 | +389% |
| Current investments | 50/53 | €120,000 | - | -€120,000 | |
| Cash at bank and in hand | 54/58 | €14,507 | €97,482 | +€82,975 | +572% |
| Deferred charges and accrued income | 490/1 | €2,471 | €3,583 | +€1,112 | +45.0% |
| Total equity and liabilities | 10/49 | €154,841 | €159,869 | +€5,028 | +3.2% |
| Equity | 10/15 | €116,854 | €1,000 | -€115,854 | -99.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €115,854 | - | -€115,854 | |
| Distributable reserves | 133 | €115,854 | - | -€115,854 | |
| Amounts payable | 17/49 | €37,987 | €158,869 | +€120,882 | +318% |
| Amounts payable within one year | 42/48 | €37,987 | €157,869 | +€119,882 | +316% |
| Trade debts | 44 | €1,873 | €4,506 | +€2,634 | +141% |
| Suppliers | 440/4 | €1,873 | €4,506 | +€2,634 | +141% |
| Taxes, remuneration and social security | 45 | €36,115 | €4,077 | -€32,038 | -88.7% |
| Taxes | 450/3 | €36,115 | €4,077 | -€32,038 | -88.7% |
| Other amounts payable | 47/48 | - | €149,286 | +€149,286 | |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €261 | €93 | -€168 | -64.4% |
| Other operating charges | 640/8 | €638 | €618 | -€20 | -3.1% |
| Gross operating margin | 9900 | €50,169 | €41,422 | -€8,747 | -17.4% |
| Operating profit (loss) | 9901 | €49,270 | €40,711 | -€8,558 | -17.4% |
| Financial income | 75/76B | €2,236 | €2,176 | -€59 | -2.7% |
| Recurring financial income | 75 | €2,236 | €2,176 | -€59 | -2.7% |
| Financial charges | 65/66B | €258 | €284 | +€27 | +10.4% |
| Recurring financial charges | 65 | €258 | €284 | +€27 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €51,248 | €42,603 | -€8,645 | -16.9% |
| Income taxes | 67/77 | €11,453 | €9,171 | -€2,282 | -19.9% |
| Profit (loss) for the period | 9904 | €39,795 | €33,433 | -€6,363 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €39,795 | €33,433 | -€6,363 | -16.0% |
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 30 October 2026 via checked.be.