DIDIER 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.
DIDIER SMEETS
Largest movements
- Tangible fixed assets +€64,581
up €64,581 (+3.6%), from €1.8m to €1.9m
of which Plant, machinery and equipment: +€102,184
- Cash +€32,125
up €32,125 (+54.2%), from €59,232 to €91,357
mainly Other debts (+€235,486) and Depreciation (+€122,955)
- Receivables within one year -€27,786
down €27,786 (-74.0%), from €37,567 to €9,780
of which Trade receivables: -€27,861
- Other debts +€235,486
up €235,486 (+243%), from €97,074 to €332,559
- Profit (loss) carried forward -€233,115
down €233,115 (-72.5%), from €321,737 to €88,622
- Investment grants +€33,440
up €33,440 (+80.6%), from €41,473 to €74,913
- Debts after one year +€28,758
up €28,758 (+2.0%), from €1.4m to €1.4m
- Gross operating margin +€128,376
up €128,376 (+27.5%), from €467,644 to €596,020
- Staff costs +€58,938
up €58,938 (+21.1%), from €279,450 to €338,388
- Depreciation +€34,702
up €34,702 (+39.3%), from €88,254 to €122,955
- Financial income +€16,842
up €16,842 (+104%), from €16,250 to €33,092
- Other operating charges -€8,871
down €8,871 (-44.0%), from €20,182 to €11,311
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 | €2,086,091 | €2,168,786 | +€82,695 | +4.0% |
| Fixed assets | 21/28 | €1,819,920 | €1,886,229 | +€66,309 | +3.6% |
| Intangible fixed assets | 21 | - | €1,728 | +€1,728 | |
| Tangible fixed assets | 22/27 | €1,819,128 | €1,883,709 | +€64,581 | +3.6% |
| Land and buildings | 22 | €1,650,759 | €1,604,958 | -€45,800 | -2.8% |
| Plant, machinery and equipment | 23 | €142,399 | €244,583 | +€102,184 | +71.8% |
| Furniture and vehicles | 24 | €25,971 | €34,168 | +€8,197 | +31.6% |
| Financial fixed assets | 28 | €792 | €792 | = | 0.0% |
| Current assets | 29/58 | €266,171 | €282,558 | +€16,387 | +6.2% |
| Stocks and contracts in progress | 3 | €165,868 | €179,285 | +€13,417 | +8.1% |
| Stocks | 30/36 | €165,868 | €179,285 | +€13,417 | +8.1% |
| Amounts receivable within one year | 40/41 | €37,567 | €9,780 | -€27,786 | -74.0% |
| Trade receivables | 40 | €37,567 | €9,706 | -€27,861 | -74.2% |
| Other amounts receivable | 41 | - | €75 | +€75 | |
| Cash at bank and in hand | 54/58 | €59,232 | €91,357 | +€32,125 | +54.2% |
| Deferred charges and accrued income | 490/1 | €3,504 | €2,135 | -€1,369 | -39.1% |
| Total equity and liabilities | 10/49 | €2,086,091 | €2,168,786 | +€82,695 | +4.0% |
| Equity | 10/15 | €383,670 | €183,995 | -€199,676 | -52.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €321,737 | €88,622 | -€233,115 | -72.5% |
| Investment grants | 15 | €41,473 | €74,913 | +€33,440 | +80.6% |
| Amounts payable | 17/49 | €1,702,421 | €1,984,791 | +€282,371 | +16.6% |
| Amounts payable after more than one year | 17 | €1,407,805 | €1,436,562 | +€28,758 | +2.0% |
| Financial debts | 170/4 | €1,407,805 | €1,436,562 | +€28,758 | +2.0% |
| Amounts payable within one year | 42/48 | €294,464 | €546,324 | +€251,860 | +85.5% |
| Current portion of amounts payable after more than one year | 42 | €66,916 | €86,376 | +€19,461 | +29.1% |
| Financial debts | 43 | €75,940 | €79,317 | +€3,377 | +4.4% |
| Credit institutions | 430/8 | €75,940 | €79,317 | +€3,377 | +4.4% |
| Trade debts | 44 | €33,277 | €17,644 | -€15,633 | -47.0% |
| Suppliers | 440/4 | €33,277 | €17,644 | -€15,633 | -47.0% |
| Taxes, remuneration and social security | 45 | €21,257 | €30,427 | +€9,170 | +43.1% |
| Taxes | 450/3 | €10,268 | €13,547 | +€3,278 | +31.9% |
| Remuneration and social security | 454/9 | €10,989 | €16,881 | +€5,891 | +53.6% |
| Other amounts payable | 47/48 | €97,074 | €332,559 | +€235,486 | +243% |
| Accrued charges and deferred income | 492/3 | €152 | €1,905 | +€1,753 | +1,153% |
| Remuneration, social security and pensions | 62 | €279,450 | €338,388 | +€58,938 | +21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,254 | €122,955 | +€34,702 | +39.3% |
| Other operating charges | 640/8 | €20,182 | €11,311 | -€8,871 | -44.0% |
| Gross operating margin | 9900 | €467,644 | €596,020 | +€128,376 | +27.5% |
| Operating profit (loss) | 9901 | €79,758 | €123,365 | +€43,607 | +54.7% |
| Financial income | 75/76B | €16,250 | €33,092 | +€16,842 | +104% |
| Recurring financial income | 75 | €16,250 | €33,092 | +€16,842 | +104% |
| Financial charges | 65/66B | €60,314 | €59,579 | -€734 | -1.2% |
| Recurring financial charges | 65 | €60,314 | €59,579 | -€734 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €35,694 | €96,878 | +€61,184 | +171% |
| Income taxes | 67/77 | €248 | €4,993 | +€4,745 | +1,914% |
| Profit (loss) for the period | 9904 | €35,446 | €91,885 | +€56,439 | +159% |
| Profit (loss) for the period to be appropriated | 9905 | €35,446 | €91,885 | +€56,439 | +159% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.