De Schoenmaeker: 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.
De Schoenmaeker
Largest movements
- Current investments +€50,000
up €50,000 (+20.0%), from €250,000 to €300,000
- Cash +€32,013
up €32,013 (+7.6%), from €420,610 to €452,624
mainly Net result for the year (+€75,126) and Trade debts (+€32,280)
- Reserves +€75,126
up €75,126 (+4.0%), from €1.9m to €2.0m
of which Distributable reserves: +€75,126
- Other debts -€32,952
down €32,952 (-72.8%), from €45,269 to €12,317
- Trade debts +€32,280
up €32,280 (+25.8%), from €125,084 to €157,364
- Staff costs -€42,195
down €42,195 (-32.8%), from €128,557 to €86,361
- Gross operating margin +€33,756
up €33,756 (+19.3%), from €174,644 to €208,400
- Taxes +€22,893
up €22,893 (+522%), from €4,388 to €27,281
- Financial income +€3,882
up €3,882 (+15.5%), from €24,980 to €28,862
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 | €2,392,976 | €2,440,914 | +€47,938 | +2.0% |
| Fixed assets | 21/28 | €134,579 | €111,492 | -€23,087 | -17.2% |
| Tangible fixed assets | 22/27 | €134,321 | €111,234 | -€23,087 | -17.2% |
| Land and buildings | 22 | €15,522 | €11,952 | -€3,570 | -23.0% |
| Plant, machinery and equipment | 23 | €99,705 | €87,741 | -€11,964 | -12.0% |
| Furniture and vehicles | 24 | €19,095 | €11,541 | -€7,554 | -39.6% |
| Financial fixed assets | 28 | €258 | €258 | = | 0.0% |
| Current assets | 29/58 | €2,258,397 | €2,329,422 | +€71,025 | +3.1% |
| Stocks and contracts in progress | 3 | €1,536,200 | €1,529,005 | -€7,195 | -0.5% |
| Stocks | 30/36 | €1,536,200 | €1,529,005 | -€7,195 | -0.5% |
| Amounts receivable within one year | 40/41 | €29,521 | €26,282 | -€3,238 | -11.0% |
| Trade receivables | 40 | €10,990 | €10,119 | -€871 | -7.9% |
| Other amounts receivable | 41 | €18,531 | €16,164 | -€2,367 | -12.8% |
| Current investments | 50/53 | €250,000 | €300,000 | +€50,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €420,610 | €452,624 | +€32,013 | +7.6% |
| Deferred charges and accrued income | 490/1 | €22,066 | €21,511 | -€555 | -2.5% |
| Total equity and liabilities | 10/49 | €2,392,976 | €2,440,914 | +€47,938 | +2.0% |
| Equity | 10/15 | €2,126,431 | €2,201,557 | +€75,126 | +3.5% |
| Contributions | 10/11 | €247,894 | €247,894 | = | 0.0% |
| Capital | 10 | €247,894 | €247,894 | = | 0.0% |
| Issued capital | 100 | €247,894 | €247,894 | = | 0.0% |
| Reserves | 13 | €1,878,538 | €1,953,664 | +€75,126 | +4.0% |
| Non-distributable reserves | 130/1 | €24,789 | €24,789 | = | 0.0% |
| Legal reserve | 130 | €24,789 | €24,789 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,909 | €11,909 | = | 0.0% |
| Distributable reserves | 133 | €1,841,839 | €1,916,965 | +€75,126 | +4.1% |
| Amounts payable | 17/49 | €266,545 | €239,357 | -€27,188 | -10.2% |
| Amounts payable within one year | 42/48 | €245,029 | €228,319 | -€16,710 | -6.8% |
| Trade debts | 44 | €125,084 | €157,364 | +€32,280 | +25.8% |
| Suppliers | 440/4 | €125,084 | €157,364 | +€32,280 | +25.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €74,676 | €58,638 | -€16,038 | -21.5% |
| Taxes | 450/3 | €50,638 | €39,570 | -€11,068 | -21.9% |
| Remuneration and social security | 454/9 | €24,039 | €19,069 | -€4,970 | -20.7% |
| Other amounts payable | 47/48 | €45,269 | €12,317 | -€32,952 | -72.8% |
| Accrued charges and deferred income | 492/3 | €21,516 | €11,039 | -€10,478 | -48.7% |
| Remuneration, social security and pensions | 62 | €128,557 | €86,361 | -€42,195 | -32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,245 | €23,087 | -€1,158 | -4.8% |
| Other operating charges | 640/8 | €20,565 | €20,515 | -€50 | -0.2% |
| Gross operating margin | 9900 | €174,644 | €208,400 | +€33,756 | +19.3% |
| Operating profit (loss) | 9901 | €1,278 | €78,436 | +€77,159 | +6,039% |
| Financial income | 75/76B | €24,980 | €28,862 | +€3,882 | +15.5% |
| Recurring financial income | 75 | €24,980 | €28,862 | +€3,882 | +15.5% |
| Financial charges | 65/66B | €4,985 | €4,891 | -€94 | -1.9% |
| Recurring financial charges | 65 | €4,985 | €4,891 | -€94 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €21,273 | €102,407 | +€81,135 | +381% |
| Income taxes | 67/77 | €4,388 | €27,281 | +€22,893 | +522% |
| Profit (loss) for the period | 9904 | €16,885 | €75,126 | +€58,242 | +345% |
| Profit (loss) for the period to be appropriated | 9905 | €16,885 | €75,126 | +€58,242 | +345% |
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 29 October 2026 via checked.be.