HANS DE 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.
HANS DE SMET
Largest movements
- Current investments +€45,000
new in 2025: €45,000
- Tangible fixed assets -€32,442
down €32,442 (-13.9%), from €233,247 to €200,805
- Receivables within one year -€10,709
down €10,709 (-7.5%), from €142,081 to €131,373
of which Other amounts receivable: -€8,694
- Reserves +€51,531
up €51,531 (+21.9%), from €234,960 to €286,491
- Tax, wage and social debts -€34,692
down €34,692 (-76.5%), from €45,349 to €10,657
of which Remuneration and social security: -€21,143
- Debts after one year -€20,059
down €20,059 (-19.4%), from €103,566 to €83,507
- Trade debts +€13,208
up €13,208 (+40.3%), from €32,789 to €45,997
- Other debts -€7,913
down €7,913 (-16.5%), from €47,900 to €39,987
- Gross operating margin -€22,754
down €22,754 (-14.8%), from €153,646 to €130,892
- Taxes -€4,614
down €4,614 (-25.3%), from €18,235 to €13,621
- Staff costs -€1,974
down €1,974 (-8.4%), from €23,369 to €21,395
- Financial charges +€1,647
up €1,647 (+63.9%), from €2,575 to €4,222
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 | €501,132 | €499,098 | -€2,034 | -0.4% |
| Fixed assets | 21/28 | €233,247 | €200,805 | -€32,442 | -13.9% |
| Tangible fixed assets | 22/27 | €233,247 | €200,805 | -€32,442 | -13.9% |
| Land and buildings | 22 | €207,720 | €194,777 | -€12,943 | -6.2% |
| Plant, machinery and equipment | 23 | €13,999 | - | -€13,999 | |
| Other tangible fixed assets | 26 | €11,528 | €6,028 | -€5,500 | -47.7% |
| Current assets | 29/58 | €267,885 | €298,293 | +€30,408 | +11.4% |
| Amounts receivable within one year | 40/41 | €142,081 | €131,373 | -€10,709 | -7.5% |
| Trade receivables | 40 | €128,686 | €126,672 | -€2,014 | -1.6% |
| Other amounts receivable | 41 | €13,396 | €4,701 | -€8,694 | -64.9% |
| Current investments | 50/53 | - | €45,000 | +€45,000 | |
| Cash at bank and in hand | 54/58 | €125,804 | €121,920 | -€3,883 | -3.1% |
| Total equity and liabilities | 10/49 | €501,132 | €499,098 | -€2,034 | -0.4% |
| Equity | 10/15 | €247,360 | €298,891 | +€51,531 | +20.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €234,960 | €286,491 | +€51,531 | +21.9% |
| Distributable reserves | 133 | €234,960 | €286,491 | +€51,531 | +21.9% |
| Amounts payable | 17/49 | €253,772 | €200,207 | -€53,565 | -21.1% |
| Amounts payable after more than one year | 17 | €103,566 | €83,507 | -€20,059 | -19.4% |
| Financial debts | 170/4 | €103,566 | €83,507 | -€20,059 | -19.4% |
| Amounts payable within one year | 42/48 | €150,206 | €116,700 | -€33,506 | -22.3% |
| Current portion of amounts payable after more than one year | 42 | €24,168 | €20,059 | -€4,110 | -17.0% |
| Trade debts | 44 | €32,789 | €45,997 | +€13,208 | +40.3% |
| Suppliers | 440/4 | €32,789 | €45,997 | +€13,208 | +40.3% |
| Taxes, remuneration and social security | 45 | €45,349 | €10,657 | -€34,692 | -76.5% |
| Taxes | 450/3 | €21,154 | €7,606 | -€13,549 | -64.0% |
| Remuneration and social security | 454/9 | €24,194 | €3,051 | -€21,143 | -87.4% |
| Other amounts payable | 47/48 | €47,900 | €39,987 | -€7,913 | -16.5% |
| Remuneration, social security and pensions | 62 | €23,369 | €21,395 | -€1,974 | -8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,874 | €32,442 | -€433 | -1.3% |
| Other operating charges | 640/8 | €7,110 | €8,181 | +€1,071 | +15.1% |
| Gross operating margin | 9900 | €153,646 | €130,892 | -€22,754 | -14.8% |
| Operating profit (loss) | 9901 | €90,293 | €68,874 | -€21,419 | -23.7% |
| Financial income | 75/76B | €435 | €500 | +€64 | +14.8% |
| Recurring financial income | 75 | €435 | €500 | +€64 | +14.8% |
| Financial charges | 65/66B | €2,575 | €4,222 | +€1,647 | +63.9% |
| Recurring financial charges | 65 | €2,575 | €4,222 | +€1,647 | +63.9% |
| Profit (loss) for the period before taxes | 9903 | €88,153 | €65,152 | -€23,001 | -26.1% |
| Income taxes | 67/77 | €18,235 | €13,621 | -€4,614 | -25.3% |
| Profit (loss) for the period | 9904 | €69,918 | €51,531 | -€18,387 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €69,918 | €51,531 | -€18,387 | -26.3% |
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 30 October 2026 via checked.be.