DR. JAN SMOLDERS: what changed
DR. JAN SMOLDERS
Largest movements
- Receivables within one year -€114,353
down €114,353 (-86.7%), from €131,836 to €17,483
- Cash +€64,729
up €64,729 (+66.6%), from €97,180 to €161,909
mainly Net result for the year (+€124,332) and Receivables within one year (+€114,353)
- Tangible fixed assets -€28,722
down €28,722 (-13.6%), from €210,935 to €182,213
of which Other tangible fixed assets: -€17,788
- Current investments +€10,500
up €10,500 (+19.1%), from €55,000 to €65,500
- Tax, wage and social debts -€44,250
down €44,250 (-83.9%), from €52,763 to €8,513
- Debts after one year -€13,174
down €13,174 (-29.7%), from €44,394 to €31,219
- Reserves -€11,739
down €11,739 (-3.1%), from €379,568 to €367,829
- Gross operating margin +€42,547
up €42,547 (+25.9%), from €164,563 to €207,110
- Taxes +€14,089
up €14,089 (+34.0%), from €41,459 to €55,548
- Financial income +€4,038
up €4,038 (+44.9%), from €8,996 to €13,035
- Depreciation +€2,929
up €2,929 (+8.3%), from €35,169 to €38,098
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €505,125 | €441,168 | -€63,957 | -12.7% |
| Fixed assets | 21/28 | €210,935 | €182,213 | -€28,722 | -13.6% |
| Tangible fixed assets | 22/27 | €210,935 | €182,213 | -€28,722 | -13.6% |
| Plant, machinery and equipment | 23 | €1,608 | €1,921 | +€312 | +19.4% |
| Furniture and vehicles | 24 | €65,992 | €54,746 | -€11,246 | -17.0% |
| Other tangible fixed assets | 26 | €143,335 | €125,546 | -€17,788 | -12.4% |
| Current assets | 29/58 | €294,190 | €258,955 | -€35,235 | -12.0% |
| Amounts receivable within one year | 40/41 | €131,836 | €17,483 | -€114,353 | -86.7% |
| Other amounts receivable | 41 | €131,836 | €17,483 | -€114,353 | -86.7% |
| Current investments | 50/53 | €55,000 | €65,500 | +€10,500 | +19.1% |
| Cash at bank and in hand | 54/58 | €97,180 | €161,909 | +€64,729 | +66.6% |
| Deferred charges and accrued income | 490/1 | €10,174 | €14,064 | +€3,890 | +38.2% |
| Total equity and liabilities | 10/49 | €505,125 | €441,168 | -€63,957 | -12.7% |
| Equity | 10/15 | €391,968 | €380,229 | -€11,739 | -3.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €379,568 | €367,829 | -€11,739 | -3.1% |
| Distributable reserves | 133 | €379,568 | €367,829 | -€11,739 | -3.1% |
| Amounts payable | 17/49 | €113,157 | €60,939 | -€52,218 | -46.1% |
| Amounts payable after more than one year | 17 | €44,394 | €31,219 | -€13,174 | -29.7% |
| Financial debts | 170/4 | €44,394 | €31,219 | -€13,174 | -29.7% |
| Amounts payable within one year | 42/48 | €68,764 | €29,720 | -€39,043 | -56.8% |
| Current portion of amounts payable after more than one year | 42 | €12,762 | €13,174 | +€413 | +3.2% |
| Trade debts | 44 | €3,239 | €6,737 | +€3,497 | +108% |
| Suppliers | 440/4 | €3,239 | €6,737 | +€3,497 | +108% |
| Taxes, remuneration and social security | 45 | €52,763 | €8,513 | -€44,250 | -83.9% |
| Taxes | 450/3 | €52,763 | €8,513 | -€44,250 | -83.9% |
| Other amounts payable | 47/48 | - | €1,297 | +€1,297 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,169 | €38,098 | +€2,929 | +8.3% |
| Other operating charges | 640/8 | €30 | - | -€30 | |
| Gross operating margin | 9900 | €164,563 | €207,110 | +€42,547 | +25.9% |
| Operating profit (loss) | 9901 | €129,364 | €169,012 | +€39,648 | +30.6% |
| Financial income | 75/76B | €8,996 | €13,035 | +€4,038 | +44.9% |
| Recurring financial income | 75 | €8,996 | €13,035 | +€4,038 | +44.9% |
| Financial charges | 65/66B | €1,992 | €2,167 | +€175 | +8.8% |
| Recurring financial charges | 65 | €1,992 | €2,167 | +€175 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €136,368 | €179,880 | +€43,512 | +31.9% |
| Income taxes | 67/77 | €41,459 | €55,548 | +€14,089 | +34.0% |
| Profit (loss) for the period | 9904 | €94,909 | €124,332 | +€29,423 | +31.0% |
| Profit (loss) for the period to be appropriated | 9905 | €94,909 | €124,332 | +€29,423 | +31.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.