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
- Cash +€68,225
up €68,225 (+79.2%), from €86,156 to €154,381
mainly Accrued charges and deferred income (+€100,147) and Depreciation (+€45,450)
- Tangible fixed assets -€43,650
down €43,650 (-5.5%), from €798,715 to €755,065
of which Land and buildings: -€35,128
- Accrued charges and deferred income +€100,147
new in 2025: €100,147
- Other debts -€88,129
no longer reported in 2025 (was €88,129)
- Reserves +€16,908
up €16,908 (+26.7%), from €63,316 to €80,223
- Taxes -€4,884
down €4,884 (-51.3%), from €9,529 to €4,645
- Gross operating margin -€3,522
down €3,522 (-3.7%), from €95,038 to €91,516
- Financial charges +€1,323
up €1,323 (+11.4%), from €11,585 to €12,908
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 | €900,556 | €933,168 | +€32,612 | +3.6% |
| Fixed assets | 21/28 | €798,715 | €755,065 | -€43,650 | -5.5% |
| Tangible fixed assets | 22/27 | €798,715 | €755,065 | -€43,650 | -5.5% |
| Land and buildings | 22 | €778,464 | €743,336 | -€35,128 | -4.5% |
| Plant, machinery and equipment | 23 | €3,446 | €3,230 | -€216 | -6.3% |
| Furniture and vehicles | 24 | €16,806 | €8,499 | -€8,306 | -49.4% |
| Current assets | 29/58 | €101,841 | €178,103 | +€76,262 | +74.9% |
| Amounts receivable within one year | 40/41 | €14,783 | €22,298 | +€7,515 | +50.8% |
| Trade receivables | 40 | €14,783 | €22,298 | +€7,515 | +50.8% |
| Cash at bank and in hand | 54/58 | €86,156 | €154,381 | +€68,225 | +79.2% |
| Deferred charges and accrued income | 490/1 | €902 | €1,424 | +€522 | +57.9% |
| Total equity and liabilities | 10/49 | €900,556 | €933,168 | +€32,612 | +3.6% |
| Equity | 10/15 | €714,032 | €730,940 | +€16,908 | +2.4% |
| Contributions | 10/11 | €650,717 | €650,717 | = | 0.0% |
| Reserves | 13 | €63,316 | €80,223 | +€16,908 | +26.7% |
| Distributable reserves | 133 | €63,316 | €80,223 | +€16,908 | +26.7% |
| Amounts payable | 17/49 | €186,523 | €202,228 | +€15,704 | +8.4% |
| Amounts payable after more than one year | 17 | €87,630 | €87,630 | = | 0.0% |
| Financial debts | 170/4 | €87,630 | €87,630 | = | 0.0% |
| Amounts payable within one year | 42/48 | €98,893 | €14,450 | -€84,443 | -85.4% |
| Trade debts | 44 | €1,689 | €1,870 | +€181 | +10.7% |
| Suppliers | 440/4 | €1,689 | €1,870 | +€181 | +10.7% |
| Taxes, remuneration and social security | 45 | €9,075 | €12,580 | +€3,505 | +38.6% |
| Taxes | 450/3 | €9,075 | €10,084 | +€1,010 | +11.1% |
| Remuneration and social security | 454/9 | - | €2,496 | +€2,496 | |
| Other amounts payable | 47/48 | €88,129 | - | -€88,129 | |
| Accrued charges and deferred income | 492/3 | - | €100,147 | +€100,147 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,262 | €45,450 | -€812 | -1.8% |
| Other operating charges | 640/8 | €11,279 | €11,605 | +€326 | +2.9% |
| Gross operating margin | 9900 | €95,038 | €91,516 | -€3,522 | -3.7% |
| Operating profit (loss) | 9901 | €37,497 | €34,461 | -€3,036 | -8.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €11,585 | €12,908 | +€1,323 | +11.4% |
| Recurring financial charges | 65 | €11,585 | €12,908 | +€1,323 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | €25,912 | €21,553 | -€4,359 | -16.8% |
| Income taxes | 67/77 | €9,529 | €4,645 | -€4,884 | -51.3% |
| Profit (loss) for the period | 9904 | €16,382 | €16,908 | +€525 | +3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,382 | €16,908 | +€525 | +3.2% |
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 10 October 2026 via checked.be.