DE SMET: 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 SMET
Largest movements
- Receivables within one year -€7,898
down €7,898 (-24.5%), from €32,295 to €24,397
of which Trade receivables: -€5,613
- Tangible fixed assets +€1,003
up €1,003 (+43.3%), from €2,315 to €3,317
- Cash +€962
up €962 (+5.5%), from €17,529 to €18,492
mainly Receivables within one year (+€7,898) and Net result for the year (+€2,488)
- Trade debts -€8,521
down €8,521 (-73.3%), from €11,622 to €3,102
- Reserves +€2,487
up €2,487 (+4.8%), from €52,259 to €54,746
- Gross operating margin +€12,428
up €12,428, from -€7,812 to €4,616
- Taxes +€356
up €356, from -€107 to €249
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 | €82,473 | €77,181 | -€5,292 | -6.4% |
| Fixed assets | 21/28 | €2,315 | €3,317 | +€1,003 | +43.3% |
| Tangible fixed assets | 22/27 | €2,315 | €3,317 | +€1,003 | +43.3% |
| Plant, machinery and equipment | 23 | €2,315 | €3,317 | +€1,003 | +43.3% |
| Current assets | 29/58 | €80,158 | €73,863 | -€6,295 | -7.9% |
| Stocks and contracts in progress | 3 | €29,348 | €29,309 | -€39 | -0.1% |
| Stocks | 30/36 | €29,348 | €29,309 | -€39 | -0.1% |
| Amounts receivable within one year | 40/41 | €32,295 | €24,397 | -€7,898 | -24.5% |
| Trade receivables | 40 | €29,190 | €23,577 | -€5,613 | -19.2% |
| Other amounts receivable | 41 | €3,106 | €820 | -€2,285 | -73.6% |
| Cash at bank and in hand | 54/58 | €17,529 | €18,492 | +€962 | +5.5% |
| Deferred charges and accrued income | 490/1 | €985 | €1,666 | +€680 | +69.0% |
| Total equity and liabilities | 10/49 | €82,473 | €77,181 | -€5,292 | -6.4% |
| Equity | 10/15 | €70,851 | €73,338 | +€2,488 | +3.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €52,259 | €54,746 | +€2,487 | +4.8% |
| Distributable reserves | 133 | €52,259 | €54,746 | +€2,487 | +4.8% |
| Profit (loss) carried forward | 14 | €0 | €1 | +€1 | |
| Amounts payable | 17/49 | €11,622 | €3,843 | -€7,780 | -66.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €11,622 | €3,843 | -€7,780 | -66.9% |
| Financial debts | 43 | - | €12 | +€12 | |
| Credit institutions | 430/8 | - | €12 | +€12 | |
| Trade debts | 44 | €11,622 | €3,102 | -€8,521 | -73.3% |
| Suppliers | 440/4 | €11,622 | €3,102 | -€8,521 | -73.3% |
| Taxes, remuneration and social security | 45 | €0 | €729 | +€729 | |
| Taxes | 450/3 | €0 | €729 | +€729 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,023 | €1,095 | +€72 | +7.1% |
| Other operating charges | 640/8 | €708 | €730 | +€22 | +3.0% |
| Gross operating margin | 9900 | -€7,812 | €4,616 | +€12,428 | |
| Operating profit (loss) | 9901 | -€9,543 | €2,791 | +€12,334 | |
| Financial income | 75/76B | €149 | €80 | -€69 | -46.2% |
| Recurring financial income | 75 | €149 | €80 | -€69 | -46.2% |
| Financial charges | 65/66B | €133 | €135 | +€2 | +1.4% |
| Recurring financial charges | 65 | €133 | €135 | +€2 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | -€9,527 | €2,736 | +€12,263 | |
| Income taxes | 67/77 | -€107 | €249 | +€356 | |
| Profit (loss) for the period | 9904 | -€9,420 | €2,488 | +€11,907 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,420 | €2,488 | +€11,907 |
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 13 October 2026 via checked.be.