Katrien Smets: 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.
Katrien Smets
Largest movements
- Cash -€5,369
down €5,369 (-10.3%), from €52,355 to €46,986
mainly Contributions, distributions and other (-€21,590) and Receivables within one year (-€3,279)
- Receivables within one year +€3,279
up €3,279 (+67.1%), from €4,887 to €8,166
of which Trade receivables: +€2,992
- Other debts +€10,414
up €10,414 (+430.0%), from €2,422 to €12,835
- Reserves -€9,117
down €9,117 (-21.5%), from €42,426 to €33,308
- Tax, wage and social debts -€2,766
down €2,766 (-33.5%), from €8,246 to €5,481
- Trade debts -€603
down €603 (-15.8%), from €3,806 to €3,203
- Gross operating margin +€4,853
up €4,853 (+36.2%), from €13,396 to €18,249
- Taxes +€1,071
up €1,071 (+29.4%), from €3,643 to €4,714
- Other operating charges +€412
up €412 (+80.8%), from €510 to €922
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.
Cash bridge derived
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 | €58,400 | €56,328 | -€2,072 | -3.5% |
| Current assets | 29/58 | €58,400 | €56,328 | -€2,072 | -3.5% |
| Amounts receivable within one year | 40/41 | €4,887 | €8,166 | +€3,279 | +67.1% |
| Trade receivables | 40 | €4,887 | €7,880 | +€2,992 | +61.2% |
| Other amounts receivable | 41 | - | €286 | +€286 | |
| Cash at bank and in hand | 54/58 | €52,355 | €46,986 | -€5,369 | -10.3% |
| Deferred charges and accrued income | 490/1 | €1,158 | €1,176 | +€18 | +1.5% |
| Total equity and liabilities | 10/49 | €58,400 | €56,328 | -€2,072 | -3.5% |
| Equity | 10/15 | €43,926 | €34,808 | -€9,117 | -20.8% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €42,426 | €33,308 | -€9,117 | -21.5% |
| Distributable reserves | 133 | €42,426 | €33,308 | -€9,117 | -21.5% |
| Amounts payable | 17/49 | €14,474 | €21,519 | +€7,045 | +48.7% |
| Amounts payable within one year | 42/48 | €14,474 | €21,519 | +€7,045 | +48.7% |
| Trade debts | 44 | €3,806 | €3,203 | -€603 | -15.8% |
| Suppliers | 440/4 | €3,806 | €3,203 | -€603 | -15.8% |
| Taxes, remuneration and social security | 45 | €8,246 | €5,481 | -€2,766 | -33.5% |
| Taxes | 450/3 | €8,246 | €5,481 | -€2,766 | -33.5% |
| Other amounts payable | 47/48 | €2,422 | €12,835 | +€10,414 | +430.0% |
| Other operating charges | 640/8 | €510 | €922 | +€412 | +80.8% |
| Gross operating margin | 9900 | €13,396 | €18,249 | +€4,853 | +36.2% |
| Operating profit (loss) | 9901 | €12,886 | €17,327 | +€4,441 | +34.5% |
| Financial income | 75/76B | €1 | €0 | -€1 | -96.8% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -96.8% |
| Financial charges | 65/66B | €126 | €141 | +€15 | +11.5% |
| Recurring financial charges | 65 | €126 | €141 | +€15 | +11.5% |
| Profit (loss) for the period before taxes | 9903 | €12,760 | €17,186 | +€4,426 | +34.7% |
| Income taxes | 67/77 | €3,643 | €4,714 | +€1,071 | +29.4% |
| Profit (loss) for the period | 9904 | €9,117 | €12,472 | +€3,355 | +36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,117 | €12,472 | +€3,355 | +36.8% |
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 10 October 2026 via checked.be.