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 +€38,648
up €38,648 (+51.7%), from €74,805 to €113,452
mainly Net result for the year (+€57,934) and Other debts (+€36,155)
- Receivables within one year -€13,178
down €13,178 (-6.8%), from €193,279 to €180,101
of which Trade receivables: -€13,178
- Tangible fixed assets -€4,289
down €4,289 (-14.2%), from €30,131 to €25,842
of which Furniture and vehicles: -€11,434
- Other debts +€36,155
up €36,155 (+2,089%), from €1,730 to €37,885
- Trade debts -€13,563
down €13,563 (-24.4%), from €55,690 to €42,128
- Reserves -€13,250
down €13,250 (-7.5%), from €177,012 to €163,762
- Tax, wage and social debts +€13,221
up €13,221 (+48.7%), from €27,144 to €40,365
- Gross operating margin +€5,375
up €5,375 (+4.8%), from €111,494 to €116,869
- Taxes -€2,869
down €2,869 (-11.5%), from €24,950 to €22,081
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 | €303,226 | €325,824 | +€22,598 | +7.5% |
| Fixed assets | 21/28 | €30,401 | €26,112 | -€4,289 | -14.1% |
| Tangible fixed assets | 22/27 | €30,131 | €25,842 | -€4,289 | -14.2% |
| Plant, machinery and equipment | 23 | €4,729 | €3,759 | -€970 | -20.5% |
| Furniture and vehicles | 24 | €25,402 | €13,968 | -€11,434 | -45.0% |
| Other tangible fixed assets | 26 | - | €8,116 | +€8,116 | |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €272,825 | €299,711 | +€26,886 | +9.9% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €193,279 | €180,101 | -€13,178 | -6.8% |
| Trade receivables | 40 | €193,279 | €180,101 | -€13,178 | -6.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €74,805 | €113,452 | +€38,648 | +51.7% |
| Deferred charges and accrued income | 490/1 | €4,741 | €6,158 | +€1,417 | +29.9% |
| Total equity and liabilities | 10/49 | €303,226 | €325,824 | +€22,598 | +7.5% |
| Equity | 10/15 | €218,662 | €205,446 | -€13,216 | -6.0% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €177,012 | €163,762 | -€13,250 | -7.5% |
| Distributable reserves | 133 | €177,012 | €163,762 | -€13,250 | -7.5% |
| Profit (loss) carried forward | 14 | €22,899 | €22,934 | +€34 | +0.2% |
| Amounts payable | 17/49 | €84,565 | €120,378 | +€35,813 | +42.4% |
| Amounts payable within one year | 42/48 | €84,565 | €120,378 | +€35,813 | +42.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €55,690 | €42,128 | -€13,563 | -24.4% |
| Suppliers | 440/4 | €55,690 | €42,128 | -€13,563 | -24.4% |
| Taxes, remuneration and social security | 45 | €27,144 | €40,365 | +€13,221 | +48.7% |
| Taxes | 450/3 | €27,144 | €40,365 | +€13,221 | +48.7% |
| Other amounts payable | 47/48 | €1,730 | €37,885 | +€36,155 | +2,089% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,830 | €14,161 | +€331 | +2.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,078 | €4,638 | -€440 | -8.7% |
| Other operating charges | 640/8 | €3,197 | €3,848 | +€651 | +20.4% |
| Non-recurring operating charges | 66A | - | €11,482 | +€11,482 | |
| Gross operating margin | 9900 | €111,494 | €116,869 | +€5,375 | +4.8% |
| Operating profit (loss) | 9901 | €89,389 | €82,740 | -€6,649 | -7.4% |
| Financial income | 75/76B | €989 | €1,545 | +€556 | +56.2% |
| Recurring financial income | 75 | €989 | €1,545 | +€556 | +56.2% |
| Financial charges | 65/66B | €3,452 | €4,269 | +€817 | +23.7% |
| Recurring financial charges | 65 | €3,452 | €4,269 | +€817 | +23.7% |
| Profit (loss) for the period before taxes | 9903 | €86,926 | €80,016 | -€6,911 | -8.0% |
| Income taxes | 67/77 | €24,950 | €22,081 | -€2,869 | -11.5% |
| Profit (loss) for the period | 9904 | €61,976 | €57,934 | -€4,042 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €61,976 | €57,934 | -€4,042 | -6.5% |
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 16 October 2026 via checked.be.