PETER SMOLDERS: 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.
PETER SMOLDERS
Largest movements
- Tangible fixed assets +€67,929
up €67,929 (+309%), from €21,957 to €89,885
of which Furniture and vehicles: +€69,020
- Cash -€4,599
down €4,599 (-100.0%), from €4,600 to €1
mainly Investment in fixed assets (net) (-€95,198) and Trade debts (-€7,550)
- Receivables within one year +€1,602
up €1,602 (+6.7%), from €24,027 to €25,629
- Debts after one year +€54,724
up €54,724 (+416%), from €13,155 to €67,879
- Profit (loss) carried forward +€18,339
up €18,339 (+93.8%), from -€19,557 to -€1,218
- Trade debts -€7,550
down €7,550 (-98.8%), from €7,640 to €89
- Other debts -€7,072
down €7,072 (-38.3%), from €18,448 to €11,376
- Short-term financial debts +€2,878
new in 2025: €2,878
- Gross operating margin +€26,208
up €26,208 (+81.1%), from €32,304 to €58,511
- Depreciation +€23,714
up €23,714 (+667%), from €3,555 to €27,269
- Taxes +€4,187
up €4,187 (+270%), from €1,550 to €5,737
- Financial charges +€3,082
up €3,082 (+119%), from €2,585 to €5,667
- Other operating charges +€1,174
up €1,174 (+354%), from €332 to €1,506
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 | €51,133 | €115,557 | +€64,424 | +126% |
| Fixed assets | 21/28 | €21,957 | €89,885 | +€67,929 | +309% |
| Tangible fixed assets | 22/27 | €21,957 | €89,885 | +€67,929 | +309% |
| Plant, machinery and equipment | 23 | €5,392 | €4,301 | -€1,091 | -20.2% |
| Furniture and vehicles | 24 | €16,564 | €85,584 | +€69,020 | +417% |
| Current assets | 29/58 | €29,176 | €25,671 | -€3,505 | -12.0% |
| Amounts receivable within one year | 40/41 | €24,027 | €25,629 | +€1,602 | +6.7% |
| Trade receivables | 40 | €24,027 | €25,629 | +€1,602 | +6.7% |
| Cash at bank and in hand | 54/58 | €4,600 | €1 | -€4,599 | -100.0% |
| Deferred charges and accrued income | 490/1 | €550 | €42 | -€508 | -92.4% |
| Total equity and liabilities | 10/49 | €51,133 | €115,557 | +€64,424 | +126% |
| Equity | 10/15 | €2,443 | €20,782 | +€18,339 | +751% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,557 | -€1,218 | +€18,339 | +93.8% |
| Amounts payable | 17/49 | €48,690 | €94,774 | +€46,084 | +94.6% |
| Amounts payable after more than one year | 17 | €13,155 | €67,879 | +€54,724 | +416% |
| Financial debts | 170/4 | €13,155 | €67,879 | +€54,724 | +416% |
| Amounts payable within one year | 42/48 | €35,535 | €26,895 | -€8,639 | -24.3% |
| Current portion of amounts payable after more than one year | 42 | €3,861 | €4,245 | +€384 | +9.9% |
| Financial debts | 43 | - | €2,878 | +€2,878 | |
| Credit institutions | 430/8 | - | €2,878 | +€2,878 | |
| Trade debts | 44 | €7,640 | €89 | -€7,550 | -98.8% |
| Suppliers | 440/4 | €7,640 | €89 | -€7,550 | -98.8% |
| Taxes, remuneration and social security | 45 | €5,586 | €8,307 | +€2,721 | +48.7% |
| Taxes | 450/3 | €5,586 | €8,307 | +€2,721 | +48.7% |
| Other amounts payable | 47/48 | €18,448 | €11,376 | -€7,072 | -38.3% |
| Non-recurring operating income | 76A | - | €26,949 | +€26,949 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,555 | €27,269 | +€23,714 | +667% |
| Other operating charges | 640/8 | €332 | €1,506 | +€1,174 | +354% |
| Gross operating margin | 9900 | €32,304 | €58,511 | +€26,208 | +81.1% |
| Operating profit (loss) | 9901 | €28,416 | €29,736 | +€1,319 | +4.6% |
| Financial income | 75/76B | €8 | €8 | -€0 | -1.7% |
| Recurring financial income | 75 | €8 | €8 | -€0 | -1.7% |
| Financial charges | 65/66B | €2,585 | €5,667 | +€3,082 | +119% |
| Recurring financial charges | 65 | €2,585 | €5,667 | +€3,082 | +119% |
| Profit (loss) for the period before taxes | 9903 | €25,839 | €24,077 | -€1,763 | -6.8% |
| Income taxes | 67/77 | €1,550 | €5,737 | +€4,187 | +270% |
| Profit (loss) for the period | 9904 | €24,289 | €18,339 | -€5,950 | -24.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,289 | €18,339 | -€5,950 | -24.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.