DR. GUY 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.
DR. GUY SMET
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€19,832
up €19,832 (+9.7%), from €203,449 to €223,281
- Profit (loss) carried forward -€18,526
down €18,526 (-13.6%), from -€136,683 to -€155,209
- Gross operating margin -€3,176
down €3,176 (-27.2%), from -€11,687 to -€14,864
- Other operating charges +€212
up €212 (+6.9%), from €3,056 to €3,268
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 | €144,822 | €145,521 | +€698 | +0.5% |
| Fixed assets | 21/28 | €144,750 | €144,234 | -€516 | -0.4% |
| Tangible fixed assets | 22/27 | €144,527 | €144,234 | -€293 | -0.2% |
| Land and buildings | 22 | €143,536 | €143,242 | -€293 | -0.2% |
| Furniture and vehicles | 24 | €992 | €992 | = | 0.0% |
| Financial fixed assets | 28 | €223 | €0 | -€223 | -100% |
| Current assets | 29/58 | €72 | €1,287 | +€1,214 | +1,683% |
| Cash at bank and in hand | 54/58 | €72 | €1,287 | +€1,214 | +1,683% |
| Total equity and liabilities | 10/49 | €144,822 | €145,521 | +€698 | +0.5% |
| Equity | 10/15 | -€59,307 | -€77,833 | -€18,526 | -31.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €58,784 | €58,784 | = | 0.0% |
| Non-distributable reserves | 130/1 | €934 | €934 | = | 0.0% |
| Reserves not available under the articles | 1311 | €934 | €934 | = | 0.0% |
| Tax-exempt reserves | 132 | €499 | €499 | = | 0.0% |
| Distributable reserves | 133 | €57,352 | €57,352 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€136,683 | -€155,209 | -€18,526 | -13.6% |
| Amounts payable | 17/49 | €204,129 | €223,353 | +€19,224 | +9.4% |
| Amounts payable within one year | 42/48 | €204,129 | €223,353 | +€19,224 | +9.4% |
| Financial debts | 43 | €608 | €0 | -€608 | -100% |
| Credit institutions | 430/8 | €608 | €0 | -€608 | -100% |
| Trade debts | 44 | €73 | €73 | = | 0.0% |
| Suppliers | 440/4 | €73 | €73 | = | 0.0% |
| Other amounts payable | 47/48 | €203,449 | €223,281 | +€19,832 | +9.7% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €293 | €293 | = | 0.0% |
| Other operating charges | 640/8 | €3,056 | €3,268 | +€212 | +6.9% |
| Gross operating margin | 9900 | -€11,687 | -€14,864 | -€3,176 | -27.2% |
| Operating profit (loss) | 9901 | -€15,036 | -€18,424 | -€3,389 | -22.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -66.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -66.7% |
| Financial charges | 65/66B | €97 | €102 | +€4 | +4.6% |
| Recurring financial charges | 65 | €97 | €102 | +€4 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | -€15,133 | -€18,526 | -€3,393 | -22.4% |
| Profit (loss) for the period | 9904 | -€15,133 | -€18,526 | -€3,393 | -22.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,133 | -€18,526 | -€3,393 | -22.4% |
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 14 October 2026 via checked.be.