Jan 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.
Jan De Smet
Largest movements
- Deferred charges and accrued income +€2,736
up €2,736 (+13.9%), from €19,664 to €22,400
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€1,405
up €1,405, from -€1,034 to €371
- Financial income -€511
down €511 (-12.6%), from €4,041 to €3,530
- Taxes +€505
up €505 (+116%), from €435 to €940
- Financial charges -€189
down €189 (-12.7%), from €1,486 to €1,297
- Other operating charges -€52
down €52 (-19.7%), from €261 to €210
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 | €223,166 | €226,143 | +€2,976 | +1.3% |
| Current assets | 29/58 | €223,166 | €226,143 | +€2,976 | +1.3% |
| Amounts receivable within one year | 40/41 | €203,435 | €203,675 | +€240 | +0.1% |
| Other amounts receivable | 41 | €203,435 | €203,675 | +€240 | +0.1% |
| Cash at bank and in hand | 54/58 | €68 | €68 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €19,664 | €22,400 | +€2,736 | +13.9% |
| Total equity and liabilities | 10/49 | €223,166 | €226,143 | +€2,976 | +1.3% |
| Equity | 10/15 | €213,336 | €214,789 | +€1,454 | +0.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €135,194 | €135,194 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,773 | €12,773 | = | 0.0% |
| Distributable reserves | 133 | €122,422 | €122,422 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,541 | €60,995 | +€1,454 | +2.4% |
| Amounts payable | 17/49 | €9,830 | €11,353 | +€1,523 | +15.5% |
| Amounts payable within one year | 42/48 | €9,830 | €11,353 | +€1,523 | +15.5% |
| Financial debts | 43 | €9,395 | €9,912 | +€517 | +5.5% |
| Credit institutions | 430/8 | €9,395 | €9,912 | +€517 | +5.5% |
| Trade debts | 44 | - | €66 | +€66 | |
| Suppliers | 440/4 | - | €66 | +€66 | |
| Taxes, remuneration and social security | 45 | €435 | €1,375 | +€940 | +216% |
| Taxes | 450/3 | €435 | €1,375 | +€940 | +216% |
| Non-recurring operating income | 76A | - | €1,500 | +€1,500 | |
| Other operating charges | 640/8 | €261 | €210 | -€52 | -19.7% |
| Gross operating margin | 9900 | -€1,034 | €371 | +€1,405 | |
| Operating profit (loss) | 9901 | -€1,295 | €161 | +€1,456 | |
| Financial income | 75/76B | €4,041 | €3,530 | -€511 | -12.6% |
| Recurring financial income | 75 | €4,041 | €3,530 | -€511 | -12.6% |
| Financial charges | 65/66B | €1,486 | €1,297 | -€189 | -12.7% |
| Recurring financial charges | 65 | €1,486 | €1,297 | -€189 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €1,260 | €2,394 | +€1,134 | +90.0% |
| Income taxes | 67/77 | €435 | €940 | +€505 | +116% |
| Profit (loss) for the period | 9904 | €825 | €1,454 | +€629 | +76.3% |
| Profit (loss) for the period to be appropriated | 9905 | €825 | €1,454 | +€629 | +76.3% |
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.