Smets Tom: what changed
Two fiscal 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.
Smets Tom
Largest movements
- Current investments +€1.8m
new in 2025: €1.8m
- Financial fixed assets -€1.3m
no longer reported in 2025 (was €1.3m)
- Cash +€146,518
up €146,518 (+115.8%), from €126,532 to €273,049
mainly Investment in fixed assets (net) (+€1.3m) and Net result for the year (+€766,339)
- Receivables within one year -€139,281
down €139,281 (-76.6%), from €181,755 to €42,474
of which Other amounts receivable: -€140,000
- Receivables after one year -€41,667
down €41,667 (-12.1%), from €345,333 to €303,666
- Reserves +€389,167
up €389,167 (+55.7%), from €698,684 to €1.1m
- Tax, wage and social debts +€62,307
up €62,307 (+210.2%), from €29,637 to €91,943
of which Taxes: +€62,284
- Financial income +€989,727
up €989,727 (+9038.6%), from €10,950 to €1.0m
of which Financial income: +€976,916
- Taxes +€307,863
up €307,863 (+683.8%), from €45,024 to €352,888
- Gross operating margin -€9,437
down €9,437 (-7.1%), from €132,252 to €122,816
- Other operating charges +€1,333
up €1,333 (+236.1%), from €564 to €1,897
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 | €1,954,605 | €2,419,974 | +€465,370 | +23.8% |
| Fixed assets | 21/28 | €1,300,985 | €785 | -€1.3m | -99.9% |
| Tangible fixed assets | 22/27 | €987 | €785 | -€202 | -20.5% |
| Furniture and vehicles | 24 | €987 | €785 | -€202 | -20.5% |
| Financial fixed assets | 28 | €1,299,998 | - | -€1.3m | |
| Current assets | 29/58 | €653,620 | €2,419,189 | +€1.8m | +270.1% |
| Amounts receivable after more than one year | 29 | €345,333 | €303,666 | -€41,667 | -12.1% |
| Other amounts receivable | 291 | €345,333 | €303,666 | -€41,667 | -12.1% |
| Amounts receivable within one year | 40/41 | €181,755 | €42,474 | -€139,281 | -76.6% |
| Trade receivables | 40 | €20,088 | €20,807 | +€719 | +3.6% |
| Other amounts receivable | 41 | €161,667 | €21,667 | -€140,000 | -86.6% |
| Current investments | 50/53 | - | €1,800,000 | +€1.8m | |
| Cash at bank and in hand | 54/58 | €126,532 | €273,049 | +€146,518 | +115.8% |
| Total equity and liabilities | 10/49 | €1,954,605 | €2,419,974 | +€465,370 | +23.8% |
| Equity | 10/15 | €1,908,374 | €2,297,541 | +€389,167 | +20.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €698,684 | €1,087,850 | +€389,167 | +55.7% |
| Distributable reserves | 133 | €698,684 | €1,087,850 | +€389,167 | +55.7% |
| Profit (loss) carried forward | 14 | €1,197,291 | €1,197,291 | = | 0.0% |
| Amounts payable | 17/49 | €46,230 | €122,433 | +€76,203 | +164.8% |
| Amounts payable within one year | 42/48 | €46,230 | €122,433 | +€76,203 | +164.8% |
| Trade debts | 44 | €1,143 | €12,290 | +€11,147 | +975.1% |
| Suppliers | 440/4 | €1,143 | €12,290 | +€11,147 | +975.1% |
| Taxes, remuneration and social security | 45 | €29,637 | €91,943 | +€62,307 | +210.2% |
| Taxes | 450/3 | €26,476 | €88,759 | +€62,284 | +235.2% |
| Remuneration and social security | 454/9 | €3,161 | €3,184 | +€23 | +0.7% |
| Other amounts payable | 47/48 | €15,451 | €18,200 | +€2,749 | +17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24 | €202 | +€178 | +751.0% |
| Other operating charges | 640/8 | €564 | €1,897 | +€1,333 | +236.1% |
| Gross operating margin | 9900 | €132,252 | €122,816 | -€9,437 | -7.1% |
| Operating profit (loss) | 9901 | €131,664 | €120,716 | -€10,948 | -8.3% |
| Financial income | 75/76B | €10,950 | €1,000,677 | +€989,727 | +9038.6% |
| Recurring financial income | 75 | €10,950 | €987,866 | +€976,916 | +8921.6% |
| Non-recurring financial income | 76B | - | €12,812 | +€12,812 | |
| Financial charges | 65/66B | €1,871 | €2,167 | +€296 | +15.8% |
| Recurring financial charges | 65 | €1,871 | €2,167 | +€296 | +15.8% |
| Profit (loss) for the period before taxes | 9903 | €140,743 | €1,119,226 | +€978,483 | +695.2% |
| Income taxes | 67/77 | €45,024 | €352,888 | +€307,863 | +683.8% |
| Profit (loss) for the period | 9904 | €95,719 | €766,339 | +€670,620 | +700.6% |
| Profit (loss) for the period to be appropriated | 9905 | €95,719 | €766,339 | +€670,620 | +700.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.