Philippe 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.
What changed
Philippe DE SMET
NACE 69.101, Activities of lawyers
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€403,510
2024 · €216,481+€187,030
Equity
€1.5m
2024 · €1.5m+€3,510
Cash
€239,206
2024 · €410,765-€171,559
Balance sheet total
€2.0m
2024 · €1.8m+€191,254
Largest movements
Assets
- Receivables within one year +€381,461
up €381,461 (+31.7%), from €1.2m to €1.6m
of which Trade receivables: +€208,534
- Cash -€171,559
down €171,559 (-41.8%), from €410,765 to €239,206
mainly Contributions, distributions and other (-€400,000) and Receivables within one year (-€381,461)
Equity and liabilities
- Other debts +€190,123
up €190,123 (+88.8%), from €214,098 to €404,220
Income statement
- Gross operating margin +€185,023
up €185,023 (+28.5%), from €650,331 to €835,353
- Taxes +€62,073
up €62,073 (+87.0%), from €71,383 to €133,456
- Staff costs -€59,505
down €59,505 (-20.3%), from €292,423 to €232,918
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.
Result 2024
€216,481
Gross operating margin
+€185,023
Staff costs
+€59,505
Depreciation
+€2,348
Other operating charges
+€3,678
Other operating items
+€4,144
Financial income
-€5,239
Financial charges
-€356
Taxes
-€62,073
Result 2025
€403,510
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€277,648
Investment
-€34,863
Financing
-€414,345
Cash 2024
€410,765
From operations (derived)
+€277,648
Net result for the year
+€403,510
Depreciation
+€62,178
Receivables within one year
-€381,461
Deferred charges and accrued income
-€8,668
Trade debts
+€2,786
Tax, wage and social debts
+€8,042
Other debts
+€190,123
Accrued charges and deferred income
+€1,138
Investment (derived)
-€34,863
Investment in fixed assets (net)
-€34,863
Financing
-€414,345
Debts after one year
-€14,359
Current portion of long-term debt
+€14
Contributions, distributions and other
-€400,000
Cash 2025
€239,206
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,841,453 | €2,032,707 | +€191,254 | +10.4% |
| Fixed assets | 21/28 | €205,660 | €178,345 | -€27,315 | -13.3% |
| Intangible fixed assets | 21 | €50,090 | €33,837 | -€16,253 | -32.4% |
| Tangible fixed assets | 22/27 | €153,320 | €142,258 | -€11,062 | -7.2% |
| Plant, machinery and equipment | 23 | €5,344 | €618 | -€4,726 | -88.4% |
| Furniture and vehicles | 24 | €52,271 | €30,820 | -€21,451 | -41.0% |
| Other tangible fixed assets | 26 | €95,706 | €110,820 | +€15,115 | +15.8% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €1,635,793 | €1,854,362 | +€218,569 | +13.4% |
| Amounts receivable within one year | 40/41 | €1,204,143 | €1,585,604 | +€381,461 | +31.7% |
| Trade receivables | 40 | €835,526 | €1,044,060 | +€208,534 | +25.0% |
| Other amounts receivable | 41 | €368,617 | €541,544 | +€172,927 | +46.9% |
| Cash at bank and in hand | 54/58 | €410,765 | €239,206 | -€171,559 | -41.8% |
| Deferred charges and accrued income | 490/1 | €20,885 | €29,553 | +€8,668 | +41.5% |
| Total equity and liabilities | 10/49 | €1,841,453 | €2,032,707 | +€191,254 | +10.4% |
| Equity | 10/15 | €1,458,252 | €1,461,762 | +€3,510 | +0.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €1,428,252 | €1,431,762 | +€3,510 | +0.2% |
| Distributable reserves | 133 | €1,428,252 | €1,431,762 | +€3,510 | +0.2% |
| Amounts payable | 17/49 | €383,201 | €570,945 | +€187,744 | +49.0% |
| Amounts payable after more than one year | 17 | €39,210 | €24,851 | -€14,359 | -36.6% |
| Financial debts | 170/4 | €39,210 | €24,851 | -€14,359 | -36.6% |
| Amounts payable within one year | 42/48 | €339,880 | €540,845 | +€200,965 | +59.1% |
| Current portion of amounts payable after more than one year | 42 | €14,345 | €14,359 | +€14 | +0.1% |
| Trade debts | 44 | €56,908 | €59,694 | +€2,786 | +4.9% |
| Suppliers | 440/4 | €56,908 | €59,694 | +€2,786 | +4.9% |
| Taxes, remuneration and social security | 45 | €54,529 | €62,571 | +€8,042 | +14.7% |
| Taxes | 450/3 | €33,504 | €39,112 | +€5,609 | +16.7% |
| Remuneration and social security | 454/9 | €21,025 | €23,459 | +€2,434 | +11.6% |
| Other amounts payable | 47/48 | €214,098 | €404,220 | +€190,123 | +88.8% |
| Accrued charges and deferred income | 492/3 | €4,112 | €5,250 | +€1,138 | +27.7% |
| Remuneration, social security and pensions | 62 | €292,423 | €232,918 | -€59,505 | -20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,526 | €62,178 | -€2,348 | -3.6% |
| Other operating charges | 640/8 | €10,449 | €6,771 | -€3,678 | -35.2% |
| Non-recurring operating charges | 66A | €4,144 | - | -€4,144 | |
| Gross operating margin | 9900 | €650,331 | €835,353 | +€185,023 | +28.5% |
| Operating profit (loss) | 9901 | €278,789 | €533,487 | +€254,698 | +91.4% |
| Financial income | 75/76B | €12,739 | €7,500 | -€5,239 | -41.1% |
| Recurring financial income | 75 | €12,739 | €7,500 | -€5,239 | -41.1% |
| Financial charges | 65/66B | €3,664 | €4,020 | +€356 | +9.7% |
| Recurring financial charges | 65 | €3,664 | €4,020 | +€356 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €287,863 | €536,966 | +€249,103 | +86.5% |
| Income taxes | 67/77 | €71,383 | €133,456 | +€62,073 | +87.0% |
| Profit (loss) for the period | 9904 | €216,481 | €403,510 | +€187,030 | +86.4% |
| Profit (loss) for the period to be appropriated | 9905 | €216,481 | €403,510 | +€187,030 | +86.4% |
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 31 October 2026 via checked.be.