CLINCKE-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.
CLINCKE-SMET
Largest movements
- Tangible fixed assets -€41,447
down €41,447 (-5.5%), from €755,333 to €713,886
of which Land and buildings: -€47,707
- Cash +€10,449
up €10,449 (+81.7%), from €12,797 to €23,246
mainly Depreciation (+€48,888) and Net result for the year (+€26,070)
- Debts after one year -€49,353
down €49,353 (-14.0%), from €351,549 to €302,196
of which Financial debts: -€51,000
- Reserves +€26,070
up €26,070 (+52.5%), from €49,622 to €75,691
of which Distributable reserves: +€26,070
- Gross operating margin +€25,523
up €25,523 (+31.6%), from €80,728 to €106,251
- Taxes +€7,780
up €7,780 (+172%), from €4,522 to €12,302
- Depreciation +€1,115
up €1,115 (+2.3%), from €47,773 to €48,888
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 | €773,004 | €742,471 | -€30,532 | -3.9% |
| Fixed assets | 21/28 | €755,333 | €713,886 | -€41,447 | -5.5% |
| Tangible fixed assets | 22/27 | €755,333 | €713,886 | -€41,447 | -5.5% |
| Land and buildings | 22 | €752,908 | €705,202 | -€47,707 | -6.3% |
| Plant, machinery and equipment | 23 | €2,424 | €8,684 | +€6,260 | +258% |
| Current assets | 29/58 | €17,671 | €28,585 | +€10,914 | +61.8% |
| Amounts receivable within one year | 40/41 | - | €250 | +€250 | |
| Trade receivables | 40 | - | €250 | +€250 | |
| Cash at bank and in hand | 54/58 | €12,797 | €23,246 | +€10,449 | +81.7% |
| Deferred charges and accrued income | 490/1 | €4,874 | €5,089 | +€215 | +4.4% |
| Total equity and liabilities | 10/49 | €773,004 | €742,471 | -€30,532 | -3.9% |
| Equity | 10/15 | €359,503 | €385,572 | +€26,070 | +7.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €49,622 | €75,691 | +€26,070 | +52.5% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €47,622 | €73,691 | +€26,070 | +54.7% |
| Profit (loss) carried forward | 14 | €289,881 | €289,881 | = | 0.0% |
| Amounts payable | 17/49 | €413,501 | €356,899 | -€56,602 | -13.7% |
| Amounts payable after more than one year | 17 | €351,549 | €302,196 | -€49,353 | -14.0% |
| Financial debts | 170/4 | €323,166 | €272,166 | -€51,000 | -15.8% |
| Other amounts payable | 178/9 | €28,383 | €30,030 | +€1,647 | +5.8% |
| Amounts payable within one year | 42/48 | €61,952 | €54,703 | -€7,249 | -11.7% |
| Current portion of amounts payable after more than one year | 42 | €51,000 | €51,000 | = | 0.0% |
| Trade debts | 44 | €2,037 | - | -€2,037 | |
| Suppliers | 440/4 | €2,037 | - | -€2,037 | |
| Advances received on contracts in progress | 46 | €2,076 | - | -€2,076 | |
| Taxes, remuneration and social security | 45 | €6,839 | €3,703 | -€3,136 | -45.9% |
| Taxes | 450/3 | €6,839 | €3,703 | -€3,136 | -45.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,773 | €48,888 | +€1,115 | +2.3% |
| Other operating charges | 640/8 | €14,348 | €14,796 | +€448 | +3.1% |
| Gross operating margin | 9900 | €80,728 | €106,251 | +€25,523 | +31.6% |
| Operating profit (loss) | 9901 | €18,607 | €42,567 | +€23,960 | +129% |
| Financial income | 75/76B | €326 | €76 | -€250 | -76.7% |
| Recurring financial income | 75 | €326 | €76 | -€250 | -76.7% |
| Financial charges | 65/66B | €4,910 | €4,272 | -€639 | -13.0% |
| Recurring financial charges | 65 | €4,910 | €4,272 | -€639 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €14,022 | €38,371 | +€24,349 | +174% |
| Income taxes | 67/77 | €4,522 | €12,302 | +€7,780 | +172% |
| Profit (loss) for the period | 9904 | €9,501 | €26,070 | +€16,569 | +174% |
| Profit (loss) for the period to be appropriated | 9905 | €9,501 | €26,070 | +€16,569 | +174% |
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 27 October 2026 via checked.be.