BAKKERIJ 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.
What changed
BAKKERIJ SMETS
NACE 47.241, Retail sale of bread and pastry (bakery outlets)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€164,651
2024 · €170,531-€5,880
Equity
€724,131
2024 · €575,137+€148,994
Cash
€136,869
2024 · €140,288-€3,420
Balance sheet total
€946,072
2024 · €860,534+€85,538
Largest movements
Assets
- Current investments +€103,556
up €103,556 (+37.4%), from €276,870 to €380,425
- Stocks and contracts -€10,194
down €10,194 (-11.1%), from €91,746 to €81,551
Equity and liabilities
- Reserves +€148,994
up €148,994 (+28.2%), from €528,803 to €677,797
- Other debts -€54,755
down €54,755 (-78.6%), from €69,629 to €14,874
- Debts after one year -€13,333
down €13,333 (-22.2%), from €60,000 to €46,667
Income statement
- Gross operating margin +€14,919
up €14,919 (+2.5%), from €587,414 to €602,334
- Financial charges +€6,794
up €6,794 (+219%), from €3,101 to €9,895
- Depreciation +€6,753
up €6,753 (+12.7%), from €53,072 to €59,826
- Financial income -€6,583
down €6,583 (-32.4%), from €20,295 to €13,713
of which Financial income: -€6,583
- Taxes +€6,431
up €6,431 (+9.8%), from €65,435 to €71,866
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.
Result 2024
€170,531
Gross operating margin
+€14,919
Staff costs
+€5,770
Depreciation
-€6,753
Other operating charges
-€9
Financial income
-€6,583
Financial charges
-€6,794
Taxes
-€6,431
Result 2025
€164,651
raises the resultlowers the result
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.
From operations
+€197,133
Investment
-€165,313
Financing
-€35,240
Cash 2024
€140,288
From operations (derived)
+€197,133
Net result for the year
+€164,651
Depreciation
+€59,826
Stocks and contracts
+€10,194
Receivables within one year
+€337
Deferred charges and accrued income
+€5,998
Trade debts
+€4,310
Tax, wage and social debts
+€2,289
Other debts
-€54,755
Accrued charges and deferred income
+€4,283
Investment (derived)
-€165,313
Investment in fixed assets (net)
-€61,757
Current investments
-€103,556
Financing
-€35,240
Debts after one year
-€13,333
Current portion of long-term debt
-€6,250
Contributions, distributions and other
-€15,657
Cash 2025
€136,869
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €860,534 | €946,072 | +€85,538 | +9.9% |
| Fixed assets | 21/28 | €321,545 | €323,477 | +€1,932 | +0.6% |
| Tangible fixed assets | 22/27 | €308,910 | €312,723 | +€3,813 | +1.2% |
| Land and buildings | 22 | €188,206 | €177,343 | -€10,862 | -5.8% |
| Plant, machinery and equipment | 23 | €88,058 | €80,394 | -€7,664 | -8.7% |
| Furniture and vehicles | 24 | - | €26,465 | +€26,465 | |
| Other tangible fixed assets | 26 | €32,646 | €28,520 | -€4,126 | -12.6% |
| Financial fixed assets | 28 | €12,635 | €10,754 | -€1,881 | -14.9% |
| Current assets | 29/58 | €538,989 | €622,595 | +€83,606 | +15.5% |
| Stocks and contracts in progress | 3 | €91,746 | €81,551 | -€10,194 | -11.1% |
| Stocks | 30/36 | €91,746 | €81,551 | -€10,194 | -11.1% |
| Amounts receivable within one year | 40/41 | €12,650 | €12,313 | -€337 | -2.7% |
| Trade receivables | 40 | €11,292 | €12,031 | +€739 | +6.5% |
| Other amounts receivable | 41 | €1,358 | €282 | -€1,076 | -79.3% |
| Current investments | 50/53 | €276,870 | €380,425 | +€103,556 | +37.4% |
| Cash at bank and in hand | 54/58 | €140,288 | €136,869 | -€3,420 | -2.4% |
| Deferred charges and accrued income | 490/1 | €17,435 | €11,437 | -€5,998 | -34.4% |
| Total equity and liabilities | 10/49 | €860,534 | €946,072 | +€85,538 | +9.9% |
| Equity | 10/15 | €575,137 | €724,131 | +€148,994 | +25.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €528,803 | €677,797 | +€148,994 | +28.2% |
| Distributable reserves | 133 | €528,803 | €677,797 | +€148,994 | +28.2% |
| Profit (loss) carried forward | 14 | €27,742 | €27,742 | = | 0.0% |
| Amounts payable | 17/49 | €285,397 | €221,941 | -€63,456 | -22.2% |
| Amounts payable after more than one year | 17 | €60,000 | €46,667 | -€13,333 | -22.2% |
| Financial debts | 170/4 | €60,000 | €46,667 | -€13,333 | -22.2% |
| Amounts payable within one year | 42/48 | €224,825 | €170,419 | -€54,406 | -24.2% |
| Current portion of amounts payable after more than one year | 42 | €19,583 | €13,333 | -€6,250 | -31.9% |
| Trade debts | 44 | €36,851 | €41,160 | +€4,310 | +11.7% |
| Suppliers | 440/4 | €36,851 | €41,160 | +€4,310 | +11.7% |
| Taxes, remuneration and social security | 45 | €98,762 | €101,051 | +€2,289 | +2.3% |
| Taxes | 450/3 | €32,019 | €31,327 | -€691 | -2.2% |
| Remuneration and social security | 454/9 | €66,743 | €69,724 | +€2,981 | +4.5% |
| Other amounts payable | 47/48 | €69,629 | €14,874 | -€54,755 | -78.6% |
| Accrued charges and deferred income | 492/3 | €572 | €4,855 | +€4,283 | +749% |
| Non-recurring operating income | 76A | - | €1,570 | +€1,570 | |
| Remuneration, social security and pensions | 62 | €314,055 | €308,285 | -€5,770 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,072 | €59,826 | +€6,753 | +12.7% |
| Other operating charges | 640/8 | €1,515 | €1,524 | +€9 | +0.6% |
| Gross operating margin | 9900 | €587,414 | €602,334 | +€14,919 | +2.5% |
| Operating profit (loss) | 9901 | €218,772 | €232,700 | +€13,927 | +6.4% |
| Financial income | 75/76B | €20,295 | €13,713 | -€6,583 | -32.4% |
| Recurring financial income | 75 | €20,295 | €13,713 | -€6,583 | -32.4% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €3,101 | €9,895 | +€6,794 | +219% |
| Recurring financial charges | 65 | €3,101 | €9,895 | +€6,794 | +219% |
| Profit (loss) for the period before taxes | 9903 | €235,966 | €236,517 | +€551 | +0.2% |
| Income taxes | 67/77 | €65,435 | €71,866 | +€6,431 | +9.8% |
| Profit (loss) for the period | 9904 | €170,531 | €164,651 | -€5,880 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €170,531 | €164,651 | -€5,880 | -3.4% |
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 20 October 2026 via checked.be.