Yannick 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.
Yannick De Smet
Largest movements
- Receivables within one year +€7,690
up €7,690 (+32.7%), from €23,508 to €31,198
of which Trade receivables: +€7,690
- Receivables after one year -€6,010
down €6,010 (-4.2%), from €143,535 to €137,525
- Profit (loss) carried forward -€30,348
down €30,348 (-43.4%), from €69,887 to €39,539
- Other debts +€27,548
up €27,548 (+193%), from €14,309 to €41,858
- Trade debts +€6,062
up €6,062 (+23.3%), from €25,988 to €32,050
- Short-term financial debts -€2,436
no longer reported in 2025 (was €2,436)
- Tax, wage and social debts +€2,040
new in 2025: €2,040
- Gross operating margin +€15,240
no longer reported in 2025 (was -€15,240)
- Financial income -€4,510
no longer reported in 2025 (was €4,510)
- Other operating charges -€992
no longer reported in 2025 (was €992)
- Financial charges -€677
no longer reported in 2025 (was €677)
From the 2024 result to the 2025 result
The net result is not in both sets of accounts; without it the difference cannot be explained line by line.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €167,067 | €169,934 | +€2,867 | +1.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €167,067 | €169,934 | +€2,867 | +1.7% |
| Amounts receivable after more than one year | 29 | €143,535 | €137,525 | -€6,010 | -4.2% |
| Other amounts receivable | 291 | €143,535 | €137,525 | -€6,010 | -4.2% |
| Amounts receivable within one year | 40/41 | €23,508 | €31,198 | +€7,690 | +32.7% |
| Trade receivables | 40 | €23,508 | €31,198 | +€7,690 | +32.7% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €25 | - | -€25 | |
| Deferred charges and accrued income | 490/1 | - | €1,211 | +€1,211 | |
| Total equity and liabilities | 10/49 | €167,067 | €169,934 | +€2,867 | +1.7% |
| Equity | 10/15 | €124,334 | €93,986 | -€30,348 | -24.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €42,047 | €42,047 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €40,187 | €40,187 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,887 | €39,539 | -€30,348 | -43.4% |
| Amounts payable | 17/49 | €42,733 | €75,947 | +€33,214 | +77.7% |
| Amounts payable within one year | 42/48 | €42,733 | €75,947 | +€33,214 | +77.7% |
| Financial debts | 43 | €2,436 | - | -€2,436 | |
| Credit institutions | 430/8 | €2,436 | - | -€2,436 | |
| Trade debts | 44 | €25,988 | €32,050 | +€6,062 | +23.3% |
| Suppliers | 440/4 | €25,988 | €32,050 | +€6,062 | +23.3% |
| Taxes, remuneration and social security | 45 | - | €2,040 | +€2,040 | |
| Taxes | 450/3 | - | €2,040 | +€2,040 | |
| Other amounts payable | 47/48 | €14,309 | €41,858 | +€27,548 | +193% |
| Other operating charges | 640/8 | €992 | - | -€992 | |
| Gross operating margin | 9900 | -€15,240 | - | +€15,240 | |
| Operating profit (loss) | 9901 | -€16,232 | - | +€16,232 | |
| Financial income | 75/76B | €4,510 | - | -€4,510 | |
| Recurring financial income | 75 | €4,510 | - | -€4,510 | |
| Financial charges | 65/66B | €677 | - | -€677 | |
| Recurring financial charges | 65 | €677 | - | -€677 | |
| Profit (loss) for the period before taxes | 9903 | -€12,399 | - | +€12,399 | |
| Profit (loss) for the period | 9904 | -€12,399 | - | +€12,399 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,399 | - | +€12,399 |
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 26 October 2026 via checked.be.