DE SMEET
ActiveSummary
DE SMEET has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €6.2m and a net result of €946,199. Equity is growing by ~28.2% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability73▲+44
Solvency100▲+11
Growth85▲+17
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €460,000 at 30 days acceptable
Liquidity ample (current ratio 12.9 against 2.7 in 2023; short-term debt: 7.6% and cash: 0.6% of total assets), and 7.6% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
92.4%
Return on assets
14.2%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 05-06-2025, 56 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
56 d early
2023
20 d early
2022
17 d early
2021
51 d early
2020
57 d early
2019
43 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 41 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
Turnover
€5.0m
2023 · -€276,895
EBIT margin
24.4%▼ 30.5pp
2023 · 54.9%
Net result
€946,199
2023 · -€277,008
Working capital
€6.1m▲ 18.5%
2023 · €5.1m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€10.8m▲ 490%€4.7m▼ 56.8%€12.7m▲ 171%-€276,895€5.0m
Operating result€1.5m▲ 90.4%€1.7m▲ 13.9%€3.1m▲ 88.8%-€151,974€1.2m
Net result€937,518▲ 106%€1.2m▲ 27.1%€2.1m▲ 80.1%-€277,008€946,199
EBIT margin13.5%▼ 28.3pp35.6%▲ 22.1pp24.8%▼ 10.8pp54.9%▲ 30.1pp24.4%▼ 30.5pp
Equity€2.2m▲ 76.7%€3.4m▲ 55.2%€5.5m▲ 64.0%€5.2m▼ 5.0%€6.2m▲ 18.1%
Total assets€13.1m▲ 13.2%€16.1m▲ 23.1%€8.1m▼ 49.8%€8.2m▲ 1.3%€6.7m▼ 18.8%
Debt€11.0m▲ 5.8%€12.8m▲ 16.7%€2.6m▼ 79.6%€3.0m▲ 14.7%€509,200▼ 83.0%
Working capital€2.2m▲ 99.5%€3.4m▲ 53.6%€5.4m▲ 61.2%€5.1m▼ 5.4%€6.1m▲ 18.5%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €1.2m after a loss of €151,974 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €6.7m
Fixed assets
€110,000 =
Current assets
€6.6m ▼ 19.0%
Equity and liabilities €6.7m
Equity
€6.2m ▲ 18.1%
Debt
€509,200 ▼ 83.0%
Debt's share of the balance-sheet total falls from 36.5% to 7.6%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
12.90▲
2023 · 2.70
Quick ratio
4.34▲
2023 · 0.23
Debt to equity
0.08▼
2023 · 0.57
ROE
15.3%▲
2023 · -5.3%
ROA
14.2%▲
2023 · -3.4%
Debt ≤ 1 year
€509,200▼
2023 · €3.0m
Income taxes
€251,967▲
2023 · €39,057
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,577 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 97% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.1%
went bankrupt
3.1%
stopped otherwise
97%
still going
For this company itself Checked computes a higher bankruptcy probability: 0.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,577 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €4.7m | €12.7m | -€276,895 | €5.1m | ▲ 1,947% |
| Turnover70 | €10.8m | €4.7m | €12.7m | -€276,895 | €5.0m | ▲ 1,922% |
| Other operating income74 | - | €25 | €1,998 | - | €68,265 | - |
| Operating charges60/66A | - | €3.0m | €9.5m | -€124,921 | €3.9m | ▲ 3,208% |
| Goods for resale, raw materials and consumables60 | - | €2.3m | €9.2m | -€163,224 | €3.7m | ▲ 2,344% |
| Purchases600/8 | - | €6.5m | €11,968 | €2.7m | €597,124 | ▼ 78.3% |
| Change in stocks: decrease (increase)609 | - | -€4.2m | €9.1m | -€2.9m | €3.1m | ▲ 205% |
| Services and other goods61 | - | €51,535 | €271,296 | €7,285 | €7,482 | ▲ 2.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €24,893 | €139,624 | ▲ 461% |
| Other operating charges640/8 | - | €631,600 | €115,034 | €6,126 | €71,990 | ▲ 1,075% |
| Operating profit (loss)9901 | €1.5m | €1.7m | €3.1m | -€151,974 | €1.2m | ▲ 911% |
| Financial income75/76B | - | €20 | €1,054 | €17,892 | €39,033 | ▲ 118% |
| Recurring financial income75 | €10,322 | €20 | €1,054 | €17,892 | €39,033 | ▲ 118% |
| Income from current assets751 | - | - | €1,054 | €17,882 | €18,177 | ▲ 1.6% |
| Other financial income752/9 | - | €20 | - | €10 | €20,856 | ▲ 208,462% |
| Financial charges65/66B | - | €166,601 | €231,076 | €103,870 | €73,056 | ▼ 29.7% |
| Recurring financial charges65 | €146,184 | €166,601 | €231,076 | €103,870 | €73,056 | ▼ 29.7% |
| Debt charges650 | €139,852 | €149,127 | €219,091 | €97,167 | €66,032 | ▼ 32.0% |
| Other financial charges652/9 | - | €17,473 | €11,986 | €6,703 | €7,024 | ▲ 4.8% |
| Profit (loss) for the period before taxes9903 | €1.3m | €1.5m | €2.9m | -€237,952 | €1.2m | ▲ 604% |
| Income taxes67/77 | €391,162 | €309,216 | €772,332 | €39,057 | €251,967 | ▲ 545% |
| Taxes670/3 | - | €382,775 | €859,593 | €39,057 | €251,967 | ▲ 545% |
| Tax adjustments and reversals of tax provisions77 | - | €73,559 | €87,261 | - | - | - |
| Profit (loss) for the period9904 | €937,518 | €1.2m | €2.1m | -€277,008 | €946,199 | ▲ 442% |
| Transfer from tax-exempt reserves789 | - | - | - | €164,963 | €508,637 | ▲ 208% |
| Profit (loss) for the period to be appropriated9905 | €263,918 | €1.2m | €2.1m | -€112,045 | €1.5m | ▲ 1,398% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €13.1m | €16.1m | €8.1m | €8.2m | €6.7m | ▼ 18.8% |
| Formation expenses20 | - | - | - | €0 | €0 | - |
| Fixed assets21/28 | - | - | €110,000 | €110,000 | €110,000 | = |
| Financial fixed assets28 | - | - | €110,000 | €110,000 | €110,000 | = |
| Affiliated companies280/1 | - | - | €110,000 | €110,000 | €110,000 | = |
| Participating interests280 | - | - | €110,000 | €110,000 | €110,000 | = |
| Current assets29/58 | €13.1m | €16.1m | €8.0m | €8.1m | €6.6m | ▼ 19.0% |
| Stocks and contracts in progress3 | €9.4m | €13.7m | €4.5m | €7.4m | €4.4m | ▼ 41.3% |
| Stocks30/36 | - | €13.7m | €4.5m | €7.4m | €4.4m | ▼ 41.3% |
| Property held for sale35 | - | €13.7m | €4.5m | €7.4m | €4.4m | ▼ 41.3% |
| Amounts receivable within one year40/41 | €3.6m | €1.9m | €3.1m | €628,200 | €2.2m | ▲ 245% |
| Trade receivables40 | - | €1.8m | €1.6m | €95,186 | €1.2m | ▲ 1,206% |
| Other amounts receivable41 | - | €73,559 | €1.5m | €533,014 | €925,503 | ▲ 73.6% |
| Cash at bank and in hand54/58 | €42,548 | €585,771 | €346,563 | €59,339 | €40,765 | ▼ 31.3% |
| Deferred charges and accrued income490/1 | - | €10,322 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €13.1m | €16.1m | €8.1m | €8.2m | €6.7m | ▼ 18.8% |
| Equity10/15 | €2.2m | €3.4m | €5.5m | €5.2m | €6.2m | ▲ 18.1% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €709,817 | €709,817 | €709,817 | €709,817 | €709,817 | = |
| Non-distributable reserves130/1 | - | €36,217 | €36,217 | €36,217 | €36,217 | = |
| Legal reserve130 | - | €36,217 | €36,217 | €36,217 | €36,217 | = |
| Tax-exempt reserves132 | - | €673,600 | €673,600 | €508,637 | €0 | ▼ 100.0% |
| Distributable reserves133 | - | - | - | €164,963 | €673,600 | ▲ 308% |
| Profit (loss) carried forward14 | €1.4m | €2.6m | €4.7m | €4.4m | €5.4m | ▲ 21.3% |
| Amounts payable17/49 | €11.0m | €12.8m | €2.6m | €3.0m | €509,200 | ▼ 83.0% |
| Amounts payable within one year42/48 | €10.9m | €12.8m | €2.6m | €3.0m | €509,200 | ▼ 83.0% |
| Financial debts43 | - | €9.0m | - | - | €365,000 | - |
| Credit institutions430/8 | - | €9.0m | - | - | €365,000 | - |
| Trade debts44 | €23,764 | €93,755 | €302,821 | €278,717 | €67,233 | ▼ 75.9% |
| Suppliers440/4 | - | €93,755 | €302,821 | €278,717 | €67,233 | ▼ 75.9% |
| Taxes, remuneration and social security45 | - | €123,936 | €620,308 | €375,217 | €76,967 | ▼ 79.5% |
| Taxes450/3 | - | €123,936 | €620,308 | €375,217 | €76,967 | ▼ 79.5% |
| Other amounts payable47/48 | - | €3.5m | €1.7m | €2.3m | - | - |
| Accrued charges and deferred income492/3 | - | - | €15,723 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €937,518 | €1.2m | €2.1m | -€277,008 | €946,199 | ▲ 442% |
| Operating cash flow (approximation) | €937,518 | €1.2m | €2.1m | -€277,008 | €946,199 | ▲ 442% |
| Investment in fixed assets (approximation) | - | - | - | €0 | €0 | - |
| Change in cash | - | €543,222 | -€239,207 | -€287,224 | -€18,574 | ▲ 93.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2026
25-09
State Gazette act
Resignation: MaLiBe BV (director)Permanent representatives: Philip Demot, Pieter Vanhout and Thibaud Demot8 facts ▸
State Gazette act
Resignation: MaLiBe BV (director)
Permanent representatives: Philip Demot, Pieter Vanhout and Thibaud Demot8 facts ▸
- General meeting, 20-12-2025
- Director resignation, MaLiBe BV (director)
- Board composition, Ciril NV (director)
- Board composition, PVMA BV (director)
- Board composition, TDevelopment BV (director)
- Permanent representative, Philip Demot (permanent representative)
- Permanent representative, Pieter Vanhout (permanent representative)
- Permanent representative, Thibaud Demot (permanent representative)
2025
05-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €946,199
Net result €946,199 after one loss-making year.
31-12
Financial
Liquidity times 5current ratio 12.90
Current ratio from 2.70 to 12.90; short-term debt falls from €3.0m to €509,200.
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet -€277,008
Net result drops to -€277,008, the lowest in the series; recovery starts the following year.
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €2.1m ▲80.1%
Operating result €3.1m, net result €2.1m, both a record.
31-12
Financial
Liquidity doublescurrent ratio 3.08
Current ratio from 1.26 to 3.08; short-term debt falls from €12.8m to €2.6m.
31-12
Financial
Equity above €5mEq €5.5m ▲64%
5 profitable years in a row build equity to €5.5m.
10-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
04-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Show earlier events
2020
31-12
Financial
Equity above €2mEq €2.2m ▲76.7%
3 profitable years in a row build equity to €2.2m.
18-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Equity above €1mEq €1.2m ▲59.5%
2 profitable years in a row build equity to €1.2m.
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
11-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
09-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 10 acts read
About the unread acts
Of the 10 Belgian State Gazette acts we know for this company, 1 has been read. The other 9 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
no sitting director, last change in 2025
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
9 of this company's 10 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Hasselt
Ground area
2,234 m²
Building footprint
622 m²
Volume, LiDAR
8,953 m³
Parcel 71327G0668/00T000, Flanders · tallest building 19.5 m, ±5 floors. Linked by address, not a title deed.
46
companies at this address
See who is registered here
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71327G0668/00T000 | Flanders | 2,234 m² | 1 · 622 m² | 19.5 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2025, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| MaLiBe BV |
|
Structure & network
Part of the group
CYGA
16 companies
Group, risk and exposure
Owners and holdings
1 owner · 1 holdingChain of control
Highest known parent: CYGA. The sources do not say who stands above it.
Owners 1
- CIRILparentSourceaccounts CIRIL 2025100%
Holdings 1
-
50%
According to the 2024 annual accounts of DE SMEET and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Identification & contact
Identification
Legal formPublic limited company
Founded24-02-2006
Fiscal year end31-12
Legal name NL
TERRA
E-invoicing
Reachable via Peppol
Peppol ID
0208:0879600057
Registered
15-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.