DE SMESSE: 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 SMESSE
Largest movements
- Receivables within one year +€35,666
up €35,666 (+54.2%), from €65,833 to €101,499
of which Trade receivables: +€40,748
- Cash -€33,357
down €33,357 (-20.0%), from €166,781 to €133,424
mainly Receivables within one year (-€35,666) and Investment in fixed assets (net) (-€12,762)
- Tangible fixed assets -€24,618
down €24,618 (-8.4%), from €293,070 to €268,451
of which Furniture and vehicles: -€18,306
- Stocks and contracts +€7,214
up €7,214 (+33.6%), from €21,490 to €28,704
of which Stocks: +€5,214
- Profit (loss) carried forward -€8,476
new in 2025: -€8,476
- Tax, wage and social debts -€8,098
down €8,098 (-49.2%), from €16,472 to €8,374
of which Taxes: -€8,023
- Gross operating margin -€19,467
down €19,467 (-15.5%), from €125,415 to €105,948
- Taxes -€5,375
down €5,375 (-100%), from €5,375 to €0
- Staff costs +€4,900
up €4,900 (+7.1%), from €68,553 to €73,452
- Financial income +€1,891
up €1,891 (+169%), from €1,116 to €3,007
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 | €556,786 | €539,676 | -€17,110 | -3.1% |
| Fixed assets | 21/28 | €294,850 | €270,231 | -€24,618 | -8.3% |
| Tangible fixed assets | 22/27 | €293,070 | €268,451 | -€24,618 | -8.4% |
| Land and buildings | 22 | €153,726 | €159,290 | +€5,565 | +3.6% |
| Plant, machinery and equipment | 23 | €8,530 | €5,213 | -€3,316 | -38.9% |
| Furniture and vehicles | 24 | €72,054 | €53,747 | -€18,306 | -25.4% |
| Other tangible fixed assets | 26 | €58,761 | €50,200 | -€8,561 | -14.6% |
| Financial fixed assets | 28 | €1,780 | €1,780 | = | 0.0% |
| Current assets | 29/58 | €261,937 | €269,445 | +€7,508 | +2.9% |
| Stocks and contracts in progress | 3 | €21,490 | €28,704 | +€7,214 | +33.6% |
| Stocks | 30/36 | €11,490 | €16,704 | +€5,214 | +45.4% |
| Contracts in progress | 37 | €10,000 | €12,000 | +€2,000 | +20.0% |
| Amounts receivable within one year | 40/41 | €65,833 | €101,499 | +€35,666 | +54.2% |
| Trade receivables | 40 | €54,977 | €95,725 | +€40,748 | +74.1% |
| Other amounts receivable | 41 | €10,856 | €5,774 | -€5,082 | -46.8% |
| Cash at bank and in hand | 54/58 | €166,781 | €133,424 | -€33,357 | -20.0% |
| Deferred charges and accrued income | 490/1 | €7,833 | €5,818 | -€2,015 | -25.7% |
| Total equity and liabilities | 10/49 | €556,786 | €539,676 | -€17,110 | -3.1% |
| Equity | 10/15 | €114,272 | €105,796 | -€8,476 | -7.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €94,272 | €94,272 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €94,272 | €94,272 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€8,476 | -€8,476 | |
| Amounts payable | 17/49 | €442,515 | €433,880 | -€8,634 | -2.0% |
| Amounts payable after more than one year | 17 | €150,000 | €150,000 | = | 0.0% |
| Other amounts payable | 178/9 | €150,000 | €150,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €292,515 | €283,880 | -€8,634 | -3.0% |
| Trade debts | 44 | €13,908 | €17,331 | +€3,423 | +24.6% |
| Suppliers | 440/4 | €13,908 | €17,331 | +€3,423 | +24.6% |
| Taxes, remuneration and social security | 45 | €16,472 | €8,374 | -€8,098 | -49.2% |
| Taxes | 450/3 | €8,093 | €70 | -€8,023 | -99.1% |
| Remuneration and social security | 454/9 | €8,379 | €8,304 | -€74 | -0.9% |
| Other amounts payable | 47/48 | €262,135 | €258,176 | -€3,960 | -1.5% |
| Remuneration, social security and pensions | 62 | €68,553 | €73,452 | +€4,900 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,256 | €37,380 | +€124 | +0.3% |
| Other operating charges | 640/8 | €7,444 | €6,272 | -€1,172 | -15.7% |
| Gross operating margin | 9900 | €125,415 | €105,948 | -€19,467 | -15.5% |
| Operating profit (loss) | 9901 | €12,162 | -€11,157 | -€23,319 | |
| Financial income | 75/76B | €1,116 | €3,007 | +€1,891 | +169% |
| Recurring financial income | 75 | €1,116 | €3,007 | +€1,891 | +169% |
| Financial charges | 65/66B | €153 | €326 | +€173 | +113% |
| Recurring financial charges | 65 | €153 | €326 | +€173 | +113% |
| Profit (loss) for the period before taxes | 9903 | €13,125 | -€8,476 | -€21,601 | |
| Income taxes | 67/77 | €5,375 | €0 | -€5,375 | -100% |
| Profit (loss) for the period | 9904 | €7,750 | -€8,476 | -€16,226 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,750 | -€8,476 | -€16,226 |
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 15 October 2026 via checked.be.