Tom Smets: 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.
Tom Smets
Largest movements
- Receivables within one year -€11,723
down €11,723 (-58.1%), from €20,173 to €8,450
of which Trade receivables: -€14,124
- Tangible fixed assets -€4,999
down €4,999 (-27.9%), from €17,901 to €12,902
of which Furniture and vehicles: -€4,266
- Cash -€4,455
down €4,455 (-37.8%), from €11,785 to €7,330
mainly Net result for the year (-€12,609) and Investment in fixed assets (net) (-€4,607)
- Profit (loss) carried forward -€12,609
down €12,609 (-65.2%), from €19,338 to €6,729
- Tax, wage and social debts -€2,788
down €2,788 (-72.8%), from €3,830 to €1,042
of which Remuneration and social security: -€1,700
- Trade debts -€2,662
down €2,662 (-24.3%), from €10,971 to €8,309
- Debts after one year -€2,087
down €2,087 (-27.3%), from €7,645 to €5,557
of which Financial debts: -€2,087
- Current portion of long-term debt -€988
down €988 (-32.1%), from €3,075 to €2,087
- Gross operating margin -€19,058
down €19,058, from €16,497 to -€2,561
- Other operating charges -€1,950
down €1,950 (-87.1%), from €2,239 to €288
- Depreciation -€307
down €307 (-3.1%), from €9,912 to €9,605
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 | €49,859 | €28,803 | -€21,055 | -42.2% |
| Fixed assets | 21/28 | €17,901 | €12,902 | -€4,999 | -27.9% |
| Tangible fixed assets | 22/27 | €17,901 | €12,902 | -€4,999 | -27.9% |
| Plant, machinery and equipment | 23 | €8,369 | €7,636 | -€733 | -8.8% |
| Furniture and vehicles | 24 | €9,531 | €5,266 | -€4,266 | -44.8% |
| Current assets | 29/58 | €31,958 | €15,901 | -€16,057 | -50.2% |
| Amounts receivable within one year | 40/41 | €20,173 | €8,450 | -€11,723 | -58.1% |
| Trade receivables | 40 | €15,580 | €1,456 | -€14,124 | -90.7% |
| Other amounts receivable | 41 | €4,593 | €6,994 | +€2,401 | +52.3% |
| Cash at bank and in hand | 54/58 | €11,785 | €7,330 | -€4,455 | -37.8% |
| Deferred charges and accrued income | 490/1 | - | €121 | +€121 | |
| Total equity and liabilities | 10/49 | €49,859 | €28,803 | -€21,055 | -42.2% |
| Equity | 10/15 | €20,338 | €7,729 | -€12,609 | -62.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,338 | €6,729 | -€12,609 | -65.2% |
| Amounts payable | 17/49 | €29,521 | €21,074 | -€8,447 | -28.6% |
| Amounts payable after more than one year | 17 | €7,645 | €5,557 | -€2,087 | -27.3% |
| Financial debts | 170/4 | €2,087 | - | -€2,087 | |
| Other amounts payable | 178/9 | €5,557 | €5,557 | = | 0.0% |
| Amounts payable within one year | 42/48 | €21,876 | €15,517 | -€6,360 | -29.1% |
| Current portion of amounts payable after more than one year | 42 | €3,075 | €2,087 | -€988 | -32.1% |
| Trade debts | 44 | €10,971 | €8,309 | -€2,662 | -24.3% |
| Suppliers | 440/4 | €10,971 | €8,309 | -€2,662 | -24.3% |
| Taxes, remuneration and social security | 45 | €3,830 | €1,042 | -€2,788 | -72.8% |
| Taxes | 450/3 | €1,530 | €442 | -€1,088 | -71.1% |
| Remuneration and social security | 454/9 | €2,300 | €600 | -€1,700 | -73.9% |
| Other amounts payable | 47/48 | €4,000 | €4,079 | +€79 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,912 | €9,605 | -€307 | -3.1% |
| Other operating charges | 640/8 | €2,239 | €288 | -€1,950 | -87.1% |
| Gross operating margin | 9900 | €16,497 | -€2,561 | -€19,058 | |
| Operating profit (loss) | 9901 | €4,346 | -€12,454 | -€16,800 | |
| Financial income | 75/76B | €0 | €21 | +€20 | +5,075% |
| Recurring financial income | 75 | €0 | €21 | +€20 | +5,075% |
| Financial charges | 65/66B | €255 | €175 | -€80 | -31.4% |
| Recurring financial charges | 65 | €255 | €175 | -€80 | -31.4% |
| Profit (loss) for the period before taxes | 9903 | €4,091 | -€12,609 | -€16,700 | |
| Income taxes | 67/77 | €6 | €0 | -€6 | -100% |
| Profit (loss) for the period | 9904 | €4,085 | -€12,609 | -€16,693 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,085 | -€12,609 | -€16,693 |
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 13 October 2026 via checked.be.