DE SMEDERIJ: 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 SMEDERIJ
Largest movements
- Tangible fixed assets -€13,476
down €13,476 (-25.3%), from €53,298 to €39,822
of which Furniture and vehicles: -€10,695
- Cash -€6,018
down €6,018 (-41.5%), from €14,494 to €8,476
mainly Debts after one year (-€8,340) and Net result for the year (-€7,493)
- Deferred charges and accrued income -€4,202
down €4,202 (-78.9%), from €5,323 to €1,121
- Debts after one year -€8,340
down €8,340 (-35.8%), from €23,267 to €14,927
- Profit (loss) carried forward -€7,493
down €7,493, from €839 to -€6,654
- Current portion of long-term debt -€5,509
down €5,509 (-39.8%), from €13,848 to €8,340
- Trade debts -€2,904
down €2,904 (-42.6%), from €6,821 to €3,917
- Other operating charges -€5,122
down €5,122 (-90.8%), from €5,642 to €520
- Gross operating margin -€2,750
down €2,750 (-18.7%), from €14,699 to €11,948
- Taxes +€824
new in 2025: €824
- Depreciation +€390
up €390 (+2.3%), from €16,955 to €17,344
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 | €116,760 | €93,432 | -€23,328 | -20.0% |
| Fixed assets | 21/28 | €53,298 | €39,822 | -€13,476 | -25.3% |
| Tangible fixed assets | 22/27 | €53,298 | €39,822 | -€13,476 | -25.3% |
| Land and buildings | 22 | €17,047 | €14,390 | -€2,657 | -15.6% |
| Plant, machinery and equipment | 23 | €124 | €0 | -€124 | -100% |
| Furniture and vehicles | 24 | €36,127 | €25,432 | -€10,695 | -29.6% |
| Current assets | 29/58 | €63,462 | €53,610 | -€9,852 | -15.5% |
| Stocks and contracts in progress | 3 | €17,050 | €17,550 | +€500 | +2.9% |
| Stocks | 30/36 | €6,550 | €6,550 | = | 0.0% |
| Contracts in progress | 37 | €10,500 | €11,000 | +€500 | +4.8% |
| Amounts receivable within one year | 40/41 | €26,595 | €26,464 | -€131 | -0.5% |
| Trade receivables | 40 | €6,811 | €4,437 | -€2,374 | -34.9% |
| Other amounts receivable | 41 | €19,784 | €22,026 | +€2,243 | +11.3% |
| Cash at bank and in hand | 54/58 | €14,494 | €8,476 | -€6,018 | -41.5% |
| Deferred charges and accrued income | 490/1 | €5,323 | €1,121 | -€4,202 | -78.9% |
| Total equity and liabilities | 10/49 | €116,760 | €93,432 | -€23,328 | -20.0% |
| Equity | 10/15 | €40,768 | €33,275 | -€7,493 | -18.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €33,730 | €33,730 | = | 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 | €31,870 | €31,870 | = | 0.0% |
| Profit (loss) carried forward | 14 | €839 | -€6,654 | -€7,493 | |
| Amounts payable | 17/49 | €75,992 | €60,157 | -€15,835 | -20.8% |
| Amounts payable after more than one year | 17 | €23,267 | €14,927 | -€8,340 | -35.8% |
| Financial debts | 170/4 | €23,267 | €14,927 | -€8,340 | -35.8% |
| Amounts payable within one year | 42/48 | €52,725 | €45,230 | -€7,495 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €13,848 | €8,340 | -€5,509 | -39.8% |
| Trade debts | 44 | €6,821 | €3,917 | -€2,904 | -42.6% |
| Suppliers | 440/4 | €6,821 | €3,917 | -€2,904 | -42.6% |
| Taxes, remuneration and social security | 45 | €3,245 | €3,832 | +€587 | +18.1% |
| Taxes | 450/3 | €2,413 | €600 | -€1,813 | -75.1% |
| Remuneration and social security | 454/9 | €832 | €3,232 | +€2,400 | +288% |
| Other amounts payable | 47/48 | €28,810 | €29,141 | +€331 | +1.1% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,955 | €17,344 | +€390 | +2.3% |
| Other operating charges | 640/8 | €5,642 | €520 | -€5,122 | -90.8% |
| Gross operating margin | 9900 | €14,699 | €11,948 | -€2,750 | -18.7% |
| Operating profit (loss) | 9901 | -€7,898 | -€5,916 | +€1,982 | +25.1% |
| Financial income | 75/76B | €220 | €127 | -€92 | -42.0% |
| Recurring financial income | 75 | €220 | €127 | -€92 | -42.0% |
| Financial charges | 65/66B | €1,008 | €881 | -€127 | -12.6% |
| Recurring financial charges | 65 | €1,008 | €881 | -€127 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | -€8,686 | -€6,669 | +€2,017 | +23.2% |
| Income taxes | 67/77 | - | €824 | +€824 | |
| Profit (loss) for the period | 9904 | -€8,686 | -€7,493 | +€1,193 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,686 | -€7,493 | +€1,193 | +13.7% |
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.