MARC EN WOUTER SMEETS: 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.
MARC EN WOUTER SMEETS
Largest movements
- Tangible fixed assets -€10,246
down €10,246 (-11.3%), from €90,760 to €80,514
- Cash +€1,902
up €1,902 (+35.8%), from €5,312 to €7,214
mainly Depreciation (+€10,246) and Net result for the year (+€3,863)
- Deferred charges and accrued income -€1,587
down €1,587 (-37.7%), from €4,215 to €2,628
- Debts after one year -€12,824
down €12,824 (-20.4%), from €62,994 to €50,170
- Profit (loss) carried forward +€3,863
up €3,863 (+3.8%), from -€101,014 to -€97,152
- Current portion of long-term debt -€2,295
down €2,295 (-15.2%), from €15,119 to €12,824
- Accrued charges and deferred income +€1,260
up €1,260 (+174%), from €725 to €1,985
- Financial charges -€528
down €528 (-14.4%), from €3,676 to €3,147
- Gross operating margin -€359
down €359 (-1.8%), from €19,610 to €19,251
- Other operating charges +€225
up €225 (+12.7%), from €1,770 to €1,995
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 | €100,287 | €90,356 | -€9,931 | -9.9% |
| Fixed assets | 21/28 | €90,760 | €80,514 | -€10,246 | -11.3% |
| Tangible fixed assets | 22/27 | €90,760 | €80,514 | -€10,246 | -11.3% |
| Land and buildings | 22 | €90,760 | €80,514 | -€10,246 | -11.3% |
| Current assets | 29/58 | €9,527 | €9,842 | +€315 | +3.3% |
| Cash at bank and in hand | 54/58 | €5,312 | €7,214 | +€1,902 | +35.8% |
| Deferred charges and accrued income | 490/1 | €4,215 | €2,628 | -€1,587 | -37.7% |
| Total equity and liabilities | 10/49 | €100,287 | €90,356 | -€9,931 | -9.9% |
| Equity | 10/15 | -€76,014 | -€72,152 | +€3,863 | +5.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€101,014 | -€97,152 | +€3,863 | +3.8% |
| Amounts payable | 17/49 | €176,301 | €162,508 | -€13,793 | -7.8% |
| Amounts payable after more than one year | 17 | €62,994 | €50,170 | -€12,824 | -20.4% |
| Financial debts | 170/4 | €62,994 | €50,170 | -€12,824 | -20.4% |
| Amounts payable within one year | 42/48 | €112,581 | €110,352 | -€2,229 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €15,119 | €12,824 | -€2,295 | -15.2% |
| Trade debts | 44 | €62 | €62 | = | 0.0% |
| Suppliers | 440/4 | €62 | €62 | = | 0.0% |
| Other amounts payable | 47/48 | €97,401 | €97,466 | +€66 | +0.1% |
| Accrued charges and deferred income | 492/3 | €725 | €1,985 | +€1,260 | +174% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,416 | €10,246 | -€170 | -1.6% |
| Other operating charges | 640/8 | €1,770 | €1,995 | +€225 | +12.7% |
| Gross operating margin | 9900 | €19,610 | €19,251 | -€359 | -1.8% |
| Operating profit (loss) | 9901 | €7,425 | €7,010 | -€415 | -5.6% |
| Financial charges | 65/66B | €3,676 | €3,147 | -€528 | -14.4% |
| Recurring financial charges | 65 | €3,676 | €3,147 | -€528 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €3,749 | €3,863 | +€114 | +3.0% |
| Profit (loss) for the period | 9904 | €3,749 | €3,863 | +€114 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,749 | €3,863 | +€114 | +3.0% |
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 29 October 2026 via checked.be.