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 -€11,571
down €11,571 (-6.1%), from €189,557 to €177,986
of which Trade receivables: -€11,571
- Debts after one year -€13,621
down €13,621 (-47.0%), from €29,001 to €15,380
- Short-term financial debts -€12,610
down €12,610 (-39.3%), from €32,055 to €19,445
- Other debts +€10,471
up €10,471 (+32.0%), from €32,736 to €43,207
- Tax, wage and social debts +€4,260
up €4,260 (+75.1%), from €5,671 to €9,931
of which Taxes: +€4,260
- Other operating charges +€1,876
up €1,876 (+72.2%), from €2,600 to €4,476
- Financial charges -€1,514
down €1,514 (-15.1%), from €10,005 to €8,491
- Gross operating margin +€1,434
up €1,434 (+11.2%), from €12,744 to €14,177
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 | €190,733 | €180,343 | -€10,390 | -5.4% |
| Fixed assets | 21/28 | €409 | €409 | = | 0.0% |
| Financial fixed assets | 28 | €409 | €409 | = | 0.0% |
| Current assets | 29/58 | €190,324 | €179,934 | -€10,390 | -5.5% |
| Amounts receivable within one year | 40/41 | €189,557 | €177,986 | -€11,571 | -6.1% |
| Trade receivables | 40 | €87,534 | €75,963 | -€11,571 | -13.2% |
| Other amounts receivable | 41 | €102,023 | €102,023 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €767 | €1,949 | +€1,182 | +154% |
| Total equity and liabilities | 10/49 | €190,733 | €180,343 | -€10,390 | -5.4% |
| Equity | 10/15 | €77,450 | €78,660 | +€1,210 | +1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €56,990 | €58,200 | +€1,210 | +2.1% |
| Amounts payable | 17/49 | €113,283 | €101,684 | -€11,599 | -10.2% |
| Amounts payable after more than one year | 17 | €29,001 | €15,380 | -€13,621 | -47.0% |
| Financial debts | 170/4 | €29,001 | €15,380 | -€13,621 | -47.0% |
| Amounts payable within one year | 42/48 | €84,282 | €86,304 | +€2,022 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €12,862 | €13,622 | +€759 | +5.9% |
| Financial debts | 43 | €32,055 | €19,445 | -€12,610 | -39.3% |
| Credit institutions | 430/8 | €32,055 | €19,445 | -€12,610 | -39.3% |
| Trade debts | 44 | €958 | €100 | -€858 | -89.6% |
| Suppliers | 440/4 | €958 | €100 | -€858 | -89.6% |
| Taxes, remuneration and social security | 45 | €5,671 | €9,931 | +€4,260 | +75.1% |
| Taxes | 450/3 | €5,622 | €9,882 | +€4,260 | +75.8% |
| Remuneration and social security | 454/9 | €49 | €49 | = | 0.0% |
| Other amounts payable | 47/48 | €32,736 | €43,207 | +€10,471 | +32.0% |
| Other operating charges | 640/8 | €2,600 | €4,476 | +€1,876 | +72.2% |
| Gross operating margin | 9900 | €12,744 | €14,177 | +€1,434 | +11.2% |
| Operating profit (loss) | 9901 | €10,144 | €9,701 | -€443 | -4.4% |
| Financial charges | 65/66B | €10,005 | €8,491 | -€1,514 | -15.1% |
| Recurring financial charges | 65 | €10,005 | €8,491 | -€1,514 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €138 | €1,210 | +€1,071 | +775% |
| Profit (loss) for the period | 9904 | €138 | €1,210 | +€1,071 | +775% |
| Profit (loss) for the period to be appropriated | 9905 | €138 | €1,210 | +€1,071 | +775% |
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 19 October 2026 via checked.be.