Pieter 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.
Pieter Smeets
Largest movements
- Cash -€4,798
down €4,798 (-30.4%), from €15,773 to €10,974
mainly Tax, wage and social debts (-€3,002) and Other debts (-€1,809)
- Tax, wage and social debts -€3,002
down €3,002 (-93.6%), from €3,206 to €205
- Other debts -€1,809
down €1,809 (-44.0%), from €4,107 to €2,298
- Gross operating margin -€16,277
down €16,277, from €15,262 to -€1,016
- Taxes -€3,002
down €3,002 (-93.6%), from €3,206 to €205
- Financial charges -€1,449
down €1,449 (-97.4%), from €1,488 to €39
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 | €89,007 | €84,084 | -€4,923 | -5.5% |
| Fixed assets | 21/28 | €2,735 | €2,040 | -€695 | -25.4% |
| Tangible fixed assets | 22/27 | €2,735 | €2,040 | -€695 | -25.4% |
| Furniture and vehicles | 24 | €2,735 | €2,040 | -€695 | -25.4% |
| Current assets | 29/58 | €86,272 | €82,044 | -€4,227 | -4.9% |
| Amounts receivable after more than one year | 29 | €70,000 | €70,000 | = | 0.0% |
| Other amounts receivable | 291 | €70,000 | €70,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €499 | €655 | +€156 | +31.3% |
| Other amounts receivable | 41 | €499 | €655 | +€156 | +31.3% |
| Cash at bank and in hand | 54/58 | €15,773 | €10,974 | -€4,798 | -30.4% |
| Deferred charges and accrued income | 490/1 | - | €415 | +€415 | |
| Total equity and liabilities | 10/49 | €89,007 | €84,084 | -€4,923 | -5.5% |
| Equity | 10/15 | €81,694 | €81,582 | -€112 | -0.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €66,694 | €66,694 | = | 0.0% |
| Distributable reserves | 133 | €66,694 | €66,694 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€112 | -€112 | |
| Amounts payable | 17/49 | €7,313 | €2,503 | -€4,810 | -65.8% |
| Amounts payable within one year | 42/48 | €7,313 | €2,503 | -€4,810 | -65.8% |
| Taxes, remuneration and social security | 45 | €3,206 | €205 | -€3,002 | -93.6% |
| Taxes | 450/3 | €3,206 | €205 | -€3,002 | -93.6% |
| Other amounts payable | 47/48 | €4,107 | €2,298 | -€1,809 | -44.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €695 | €695 | = | 0.0% |
| Other operating charges | 640/8 | €339 | €258 | -€81 | -24.0% |
| Gross operating margin | 9900 | €15,262 | -€1,016 | -€16,277 | |
| Operating profit (loss) | 9901 | €14,227 | -€1,969 | -€16,196 | |
| Financial income | 75/76B | €2,100 | €2,100 | +€0 | 0.0% |
| Recurring financial income | 75 | €2,100 | €2,100 | +€0 | 0.0% |
| Financial charges | 65/66B | €1,488 | €39 | -€1,449 | -97.4% |
| Recurring financial charges | 65 | €1,488 | €39 | -€1,449 | -97.4% |
| Profit (loss) for the period before taxes | 9903 | €14,839 | €92 | -€14,747 | -99.4% |
| Income taxes | 67/77 | €3,206 | €205 | -€3,002 | -93.6% |
| Profit (loss) for the period | 9904 | €11,633 | -€112 | -€11,745 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,633 | -€112 | -€11,745 |
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 28 October 2026 via checked.be.