HILDE 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.
HILDE SMET
Largest movements
- Current investments +€438,566
new in 2025: €438,566
- Cash +€279,520
up €279,520 (+174%), from €160,284 to €439,804
mainly Net result for the year (+€762,161) and Other debts (+€454,840)
- Receivables after one year -€135,000
down €135,000 (-24.8%), from €544,227 to €409,227
- Tangible fixed assets -€58,266
down €58,266 (-7.6%), from €768,449 to €710,183
of which Furniture and vehicles: -€58,258
- Other debts +€454,840
up €454,840 (+1,390%), from €32,732 to €487,571
- Tax, wage and social debts +€98,825
up €98,825 (+138%), from €71,496 to €170,321
of which Taxes: +€102,785
- Debts after one year -€77,847
down €77,847 (-33.0%), from €235,626 to €157,778
- Reserves +€66,961
up €66,961 (+5.4%), from €1.2m to €1.3m
- Current portion of long-term debt -€22,690
down €22,690 (-52.4%), from €43,302 to €20,612
- Gross operating margin +€464,104
up €464,104 (+67.1%), from €691,317 to €1.2m
- Taxes +€151,146
up €151,146 (+76.5%), from €197,536 to €348,681
- Financial income +€19,892
up €19,892 (+166%), from €12,014 to €31,906
- Financial charges -€18,992
down €18,992 (-41.6%), from €45,705 to €26,713
of which Non-recurring financial charges: -€34,858
- Depreciation -€17,662
down €17,662 (-28.7%), from €61,466 to €43,804
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 | €1,653,106 | €2,180,200 | +€527,094 | +31.9% |
| Fixed assets | 21/28 | €863,018 | €803,984 | -€59,034 | -6.8% |
| Tangible fixed assets | 22/27 | €768,449 | €710,183 | -€58,266 | -7.6% |
| Land and buildings | 22 | €493,992 | €485,978 | -€8,013 | -1.6% |
| Plant, machinery and equipment | 23 | €202,550 | €175,588 | -€26,962 | -13.3% |
| Furniture and vehicles | 24 | €67,270 | €9,012 | -€58,258 | -86.6% |
| Other tangible fixed assets | 26 | €4,637 | €39,605 | +€34,968 | +754% |
| Financial fixed assets | 28 | €94,569 | €93,801 | -€768 | -0.8% |
| Current assets | 29/58 | €790,088 | €1,376,217 | +€586,129 | +74.2% |
| Amounts receivable after more than one year | 29 | €544,227 | €409,227 | -€135,000 | -24.8% |
| Other amounts receivable | 291 | €544,227 | €409,227 | -€135,000 | -24.8% |
| Amounts receivable within one year | 40/41 | €57,484 | €50,000 | -€7,484 | -13.0% |
| Trade receivables | 40 | €6,721 | €0 | -€6,721 | -100% |
| Other amounts receivable | 41 | €50,764 | €50,000 | -€764 | -1.5% |
| Current investments | 50/53 | - | €438,566 | +€438,566 | |
| Cash at bank and in hand | 54/58 | €160,284 | €439,804 | +€279,520 | +174% |
| Deferred charges and accrued income | 490/1 | €28,093 | €38,620 | +€10,527 | +37.5% |
| Total equity and liabilities | 10/49 | €1,653,106 | €2,180,200 | +€527,094 | +31.9% |
| Equity | 10/15 | €1,264,184 | €1,331,145 | +€66,961 | +5.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,245,634 | €1,312,595 | +€66,961 | +5.4% |
| Distributable reserves | 133 | €1,245,634 | €1,312,595 | +€66,961 | +5.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €388,922 | €849,056 | +€460,133 | +118% |
| Amounts payable after more than one year | 17 | €235,626 | €157,778 | -€77,847 | -33.0% |
| Financial debts | 170/4 | €235,626 | €157,778 | -€77,847 | -33.0% |
| Amounts payable within one year | 42/48 | €147,529 | €683,249 | +€535,720 | +363% |
| Current portion of amounts payable after more than one year | 42 | €43,302 | €20,612 | -€22,690 | -52.4% |
| Trade debts | 44 | €0 | €4,745 | +€4,745 | |
| Suppliers | 440/4 | €0 | €4,745 | +€4,745 | |
| Taxes, remuneration and social security | 45 | €71,496 | €170,321 | +€98,825 | +138% |
| Taxes | 450/3 | €67,536 | €170,321 | +€102,785 | +152% |
| Remuneration and social security | 454/9 | €3,960 | €0 | -€3,960 | -100% |
| Other amounts payable | 47/48 | €32,732 | €487,571 | +€454,840 | +1,390% |
| Accrued charges and deferred income | 492/3 | €5,768 | €8,029 | +€2,261 | +39.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,466 | €43,804 | -€17,662 | -28.7% |
| Other operating charges | 640/8 | €2,955 | €5,968 | +€3,013 | +102% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €691,317 | €1,155,421 | +€464,104 | +67.1% |
| Operating profit (loss) | 9901 | €626,896 | €1,105,649 | +€478,753 | +76.4% |
| Financial income | 75/76B | €12,014 | €31,906 | +€19,892 | +166% |
| Recurring financial income | 75 | €12,014 | €31,906 | +€19,892 | +166% |
| Financial charges | 65/66B | €45,705 | €26,713 | -€18,992 | -41.6% |
| Recurring financial charges | 65 | €10,079 | €25,944 | +€15,866 | +157% |
| Non-recurring financial charges | 66B | €35,627 | €768 | -€34,858 | -97.8% |
| Profit (loss) for the period before taxes | 9903 | €593,205 | €1,110,842 | +€517,637 | +87.3% |
| Income taxes | 67/77 | €197,536 | €348,681 | +€151,146 | +76.5% |
| Profit (loss) for the period | 9904 | €395,669 | €762,161 | +€366,492 | +92.6% |
| Profit (loss) for the period to be appropriated | 9905 | €395,669 | €762,161 | +€366,492 | +92.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.