DE SMAAK: 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.
DE SMAAK
Largest movements
- Tangible fixed assets -€19,101
down €19,101 (-18.0%), from €106,336 to €87,235
of which Land and buildings: -€16,704
- Cash +€17,124
up €17,124 (+34.4%), from €49,708 to €66,831
mainly Depreciation (+€22,482) and Trade debts (+€15,471)
- Receivables within one year -€3,289
down €3,289 (-43.8%), from €7,514 to €4,225
of which Trade receivables: -€2,998
- Debts after one year -€29,327
down €29,327 (-28.8%), from €101,970 to €72,643
- Trade debts +€15,471
up €15,471 (+115%), from €13,452 to €28,923
- Tax, wage and social debts +€8,388
up €8,388 (+75.0%), from €11,190 to €19,578
of which Remuneration and social security: +€5,474
- Accrued charges and deferred income -€8,030
down €8,030 (-99.7%), from €8,051 to €22
- Profit (loss) carried forward +€6,129
up €6,129 (+8.3%), from -€73,700 to -€67,571
- Gross operating margin -€10,355
down €10,355 (-6.4%), from €161,225 to €150,870
- Depreciation +€2,077
up €2,077 (+10.2%), from €20,405 to €22,482
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 | €221,100 | €217,686 | -€3,414 | -1.5% |
| Fixed assets | 21/28 | €109,871 | €90,770 | -€19,101 | -17.4% |
| Tangible fixed assets | 22/27 | €106,336 | €87,235 | -€19,101 | -18.0% |
| Land and buildings | 22 | €79,320 | €62,616 | -€16,704 | -21.1% |
| Plant, machinery and equipment | 23 | €25,745 | €23,030 | -€2,715 | -10.5% |
| Furniture and vehicles | 24 | €1,271 | €1,589 | +€317 | +25.0% |
| Financial fixed assets | 28 | €3,535 | €3,535 | = | 0.0% |
| Current assets | 29/58 | €111,228 | €126,916 | +€15,688 | +14.1% |
| Stocks and contracts in progress | 3 | €49,855 | €50,618 | +€763 | +1.5% |
| Stocks | 30/36 | €49,855 | €50,618 | +€763 | +1.5% |
| Amounts receivable within one year | 40/41 | €7,514 | €4,225 | -€3,289 | -43.8% |
| Trade receivables | 40 | €6,938 | €3,939 | -€2,998 | -43.2% |
| Other amounts receivable | 41 | €576 | €285 | -€291 | -50.5% |
| Cash at bank and in hand | 54/58 | €49,708 | €66,831 | +€17,124 | +34.4% |
| Deferred charges and accrued income | 490/1 | €4,152 | €5,242 | +€1,090 | +26.2% |
| Total equity and liabilities | 10/49 | €221,100 | €217,686 | -€3,414 | -1.5% |
| Equity | 10/15 | -€23,700 | -€17,571 | +€6,129 | +25.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,700 | -€67,571 | +€6,129 | +8.3% |
| Amounts payable | 17/49 | €244,800 | €235,257 | -€9,543 | -3.9% |
| Amounts payable after more than one year | 17 | €101,970 | €72,643 | -€29,327 | -28.8% |
| Financial debts | 170/4 | €101,970 | €72,643 | -€29,327 | -28.8% |
| Amounts payable within one year | 42/48 | €134,778 | €162,593 | +€27,814 | +20.6% |
| Current portion of amounts payable after more than one year | 42 | €27,653 | €29,327 | +€1,674 | +6.1% |
| Trade debts | 44 | €13,452 | €28,923 | +€15,471 | +115% |
| Suppliers | 440/4 | €13,452 | €28,923 | +€15,471 | +115% |
| Taxes, remuneration and social security | 45 | €11,190 | €19,578 | +€8,388 | +75.0% |
| Taxes | 450/3 | €7,568 | €10,481 | +€2,914 | +38.5% |
| Remuneration and social security | 454/9 | €3,623 | €9,097 | +€5,474 | +151% |
| Other amounts payable | 47/48 | €82,483 | €84,765 | +€2,281 | +2.8% |
| Accrued charges and deferred income | 492/3 | €8,051 | €22 | -€8,030 | -99.7% |
| Remuneration, social security and pensions | 62 | €104,776 | €106,008 | +€1,231 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,405 | €22,482 | +€2,077 | +10.2% |
| Other operating charges | 640/8 | €2,718 | €4,237 | +€1,519 | +55.9% |
| Non-recurring operating charges | 66A | - | €2,997 | +€2,997 | |
| Gross operating margin | 9900 | €161,225 | €150,870 | -€10,355 | -6.4% |
| Operating profit (loss) | 9901 | €33,326 | €15,146 | -€18,180 | -54.6% |
| Financial income | 75/76B | €11 | €183 | +€171 | +1,522% |
| Recurring financial income | 75 | €11 | €183 | +€171 | +1,522% |
| Financial charges | 65/66B | €10,604 | €9,181 | -€1,423 | -13.4% |
| Recurring financial charges | 65 | €10,604 | €9,181 | -€1,423 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €22,734 | €6,147 | -€16,586 | -73.0% |
| Income taxes | 67/77 | - | €19 | +€19 | |
| Profit (loss) for the period | 9904 | €22,734 | €6,129 | -€16,605 | -73.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,734 | €6,129 | -€16,605 | -73.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.