VAN SMEBERG: 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.
VAN SMEBERG
Largest movements
- Cash +€425,009
up €425,009 (+592%), from €71,777 to €496,787
mainly Net result for the year (+€370,888) and Tax, wage and social debts (+€36,769)
- Tangible fixed assets -€16,749
down €16,749 (-71.5%), from €23,417 to €6,668
of which Land and buildings: -€16,749
- Reserves +€367,686
up €367,686 (+262%), from €140,231 to €507,917
- Tax, wage and social debts +€36,769
new in 2025: €36,769
- Gross operating margin +€446,458
up €446,458, from -€5,294 to €441,164
- Taxes +€36,769
up €36,769, from €0 to €36,769
- Other operating charges +€34,687
up €34,687 (+1,623%), from €2,138 to €36,825
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 | €248,252 | €655,921 | +€407,669 | +164% |
| Fixed assets | 21/28 | €23,417 | €6,668 | -€16,749 | -71.5% |
| Tangible fixed assets | 22/27 | €23,417 | €6,668 | -€16,749 | -71.5% |
| Land and buildings | 22 | €23,417 | €6,668 | -€16,749 | -71.5% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €224,835 | €649,253 | +€424,418 | +189% |
| Amounts receivable within one year | 40/41 | €53,058 | €52,467 | -€591 | -1.1% |
| Other amounts receivable | 41 | €53,058 | €52,467 | -€591 | -1.1% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €71,777 | €496,787 | +€425,009 | +592% |
| Total equity and liabilities | 10/49 | €248,252 | €655,921 | +€407,669 | +164% |
| Equity | 10/15 | €237,029 | €607,917 | +€370,888 | +156% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €140,231 | €507,917 | +€367,686 | +262% |
| Distributable reserves | 133 | €140,231 | €507,917 | +€367,686 | +262% |
| Profit (loss) carried forward | 14 | -€3,202 | €0 | +€3,202 | |
| Amounts payable | 17/49 | €11,224 | €48,005 | +€36,781 | +328% |
| Amounts payable within one year | 42/48 | €11,224 | €48,005 | +€36,781 | +328% |
| Trade debts | 44 | €117 | €721 | +€604 | +515% |
| Suppliers | 440/4 | €117 | €721 | +€604 | +515% |
| Taxes, remuneration and social security | 45 | - | €36,769 | +€36,769 | |
| Taxes | 450/3 | - | €36,769 | +€36,769 | |
| Other amounts payable | 47/48 | €11,106 | €10,515 | -€592 | -5.3% |
| Non-recurring operating income | 76A | €0 | €518,251 | +€518,251 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,812 | €0 | -€2,812 | -100% |
| Other operating charges | 640/8 | €2,138 | €36,825 | +€34,687 | +1,623% |
| Gross operating margin | 9900 | -€5,294 | €441,164 | +€446,458 | |
| Operating profit (loss) | 9901 | -€10,243 | €404,339 | +€414,582 | |
| Financial income | 75/76B | €2,265 | €3,492 | +€1,227 | +54.2% |
| Recurring financial income | 75 | €2,265 | €3,492 | +€1,227 | +54.2% |
| Financial charges | 65/66B | €173 | €174 | +€2 | +0.9% |
| Recurring financial charges | 65 | €173 | €174 | +€2 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | -€8,151 | €407,657 | +€415,808 | |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €0 | €36,769 | +€36,769 | |
| Profit (loss) for the period | 9904 | -€8,151 | €370,888 | +€379,039 | |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,151 | €370,888 | +€379,039 |
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 21 October 2026 via checked.be.