DE SMAAKMAKERIJ: 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 SMAAKMAKERIJ
Largest movements
- Tangible fixed assets -€42,171
down €42,171 (-11.6%), from €364,846 to €322,675
of which Land and buildings: -€36,148
- Cash +€24,059
up €24,059 (+49.4%), from €48,719 to €72,778
mainly Depreciation (+€46,971) and Receivables within one year (+€14,645)
- Receivables within one year -€14,645
down €14,645 (-36.6%), from €40,011 to €25,366
of which Trade receivables: -€14,651
- Debts after one year -€24,949
down €24,949 (-10.3%), from €243,065 to €218,116
- Current portion of long-term debt -€6,856
down €6,856 (-21.8%), from €31,385 to €24,529
- Tax, wage and social debts -€5,906
down €5,906 (-15.5%), from €37,998 to €32,092
of which Taxes: -€11,466
- Other debts +€5,347
up €5,347 (+844.7%), from €633 to €5,980
- Staff costs -€14,434
down €14,434 (-9.4%), from €153,185 to €138,751
- Gross operating margin -€13,709
down €13,709 (-5.9%), from €232,663 to €218,954
- Financial charges +€3,646
up €3,646 (+34.2%), from €10,660 to €14,306
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.
Cash bridge derived
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 | €477,557 | €446,721 | -€30,836 | -6.5% |
| Fixed assets | 21/28 | €365,596 | €323,425 | -€42,171 | -11.5% |
| Tangible fixed assets | 22/27 | €364,846 | €322,675 | -€42,171 | -11.6% |
| Land and buildings | 22 | €342,552 | €306,404 | -€36,148 | -10.6% |
| Plant, machinery and equipment | 23 | €21,012 | €12,797 | -€8,215 | -39.1% |
| Furniture and vehicles | 24 | €1,282 | €3,474 | +€2,192 | +171.0% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €111,961 | €123,296 | +€11,335 | +10.1% |
| Stocks and contracts in progress | 3 | €14,207 | €12,722 | -€1,485 | -10.5% |
| Stocks | 30/36 | €14,207 | €12,722 | -€1,485 | -10.5% |
| Amounts receivable within one year | 40/41 | €40,011 | €25,366 | -€14,645 | -36.6% |
| Trade receivables | 40 | €39,683 | €25,032 | -€14,651 | -36.9% |
| Other amounts receivable | 41 | €328 | €334 | +€6 | +1.8% |
| Current investments | 50/53 | €5,445 | €8,595 | +€3,150 | +57.9% |
| Cash at bank and in hand | 54/58 | €48,719 | €72,778 | +€24,059 | +49.4% |
| Deferred charges and accrued income | 490/1 | €3,579 | €3,835 | +€256 | +7.2% |
| Total equity and liabilities | 10/49 | €477,557 | €446,721 | -€30,836 | -6.5% |
| Equity | 10/15 | €150,883 | €148,991 | -€1,892 | -1.3% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €113,699 | €111,807 | -€1,892 | -1.7% |
| Non-distributable reserves | 130/1 | €3,718 | €3,718 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,718 | €3,718 | = | 0.0% |
| Tax-exempt reserves | 132 | €23,237 | €23,237 | = | 0.0% |
| Distributable reserves | 133 | €86,744 | €84,852 | -€1,892 | -2.2% |
| Amounts payable | 17/49 | €326,674 | €297,730 | -€28,944 | -8.9% |
| Amounts payable after more than one year | 17 | €243,065 | €218,116 | -€24,949 | -10.3% |
| Financial debts | 170/4 | €243,065 | €218,116 | -€24,949 | -10.3% |
| Amounts payable within one year | 42/48 | €83,609 | €79,614 | -€3,995 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €31,385 | €24,529 | -€6,856 | -21.8% |
| Trade debts | 44 | €13,593 | €17,013 | +€3,420 | +25.2% |
| Suppliers | 440/4 | €13,593 | €17,013 | +€3,420 | +25.2% |
| Taxes, remuneration and social security | 45 | €37,998 | €32,092 | -€5,906 | -15.5% |
| Taxes | 450/3 | €29,846 | €18,380 | -€11,466 | -38.4% |
| Remuneration and social security | 454/9 | €8,152 | €13,712 | +€5,560 | +68.2% |
| Other amounts payable | 47/48 | €633 | €5,980 | +€5,347 | +844.7% |
| Remuneration, social security and pensions | 62 | €153,185 | €138,751 | -€14,434 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,979 | €46,971 | +€992 | +2.2% |
| Other operating charges | 640/8 | €6,156 | €4,350 | -€1,806 | -29.3% |
| Gross operating margin | 9900 | €232,663 | €218,954 | -€13,709 | -5.9% |
| Operating profit (loss) | 9901 | €27,343 | €28,882 | +€1,539 | +5.6% |
| Financial income | 75/76B | €42 | €25 | -€17 | -40.5% |
| Recurring financial income | 75 | €42 | €25 | -€17 | -40.5% |
| Financial charges | 65/66B | €10,660 | €14,306 | +€3,646 | +34.2% |
| Recurring financial charges | 65 | €10,660 | €14,306 | +€3,646 | +34.2% |
| Profit (loss) for the period before taxes | 9903 | €16,725 | €14,601 | -€2,124 | -12.7% |
| Income taxes | 67/77 | €2,221 | €2,207 | -€14 | -0.6% |
| Profit (loss) for the period | 9904 | €14,504 | €12,394 | -€2,110 | -14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,504 | €12,394 | -€2,110 | -14.5% |
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 11 October 2026 via checked.be.