DE SMET ANN: 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 ANN
Largest movements
- Receivables after one year +€25,000
new in 2025: €25,000
- Receivables within one year -€16,001
down €16,001 (-17.2%), from €92,778 to €76,777
of which Trade receivables: -€18,024
- Tangible fixed assets +€11,873
up €11,873 (+3.7%), from €323,757 to €335,630
of which Plant, machinery and equipment: +€16,330
- Reserves +€78,050
up €78,050 (+29.3%), from €265,935 to €343,986
- Other debts -€42,780
down €42,780 (-44.7%), from €95,757 to €52,977
- Tax, wage and social debts -€10,760
down €10,760 (-47.2%), from €22,815 to €12,055
of which Taxes: -€9,260
- Gross operating margin +€14,981
up €14,981 (+12.6%), from €118,673 to €133,653
- Taxes +€5,135
up €5,135 (+17.8%), from €28,775 to €33,910
- Depreciation +€1,525
up €1,525 (+9.9%), from €15,419 to €16,943
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 | €424,354 | €447,547 | +€23,193 | +5.5% |
| Fixed assets | 21/28 | €323,757 | €335,630 | +€11,873 | +3.7% |
| Tangible fixed assets | 22/27 | €323,757 | €335,630 | +€11,873 | +3.7% |
| Land and buildings | 22 | €300,852 | €288,668 | -€12,184 | -4.0% |
| Plant, machinery and equipment | 23 | €7,734 | €24,065 | +€16,330 | +211% |
| Furniture and vehicles | 24 | €10,671 | €18,397 | +€7,727 | +72.4% |
| Other tangible fixed assets | 26 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €100,597 | €111,917 | +€11,320 | +11.3% |
| Amounts receivable after more than one year | 29 | - | €25,000 | +€25,000 | |
| Other amounts receivable | 291 | - | €25,000 | +€25,000 | |
| Amounts receivable within one year | 40/41 | €92,778 | €76,777 | -€16,001 | -17.2% |
| Trade receivables | 40 | €89,233 | €71,209 | -€18,024 | -20.2% |
| Other amounts receivable | 41 | €3,546 | €5,569 | +€2,023 | +57.1% |
| Cash at bank and in hand | 54/58 | €7,377 | €10,031 | +€2,654 | +36.0% |
| Deferred charges and accrued income | 490/1 | €441 | €109 | -€333 | -75.4% |
| Total equity and liabilities | 10/49 | €424,354 | €447,547 | +€23,193 | +5.5% |
| Equity | 10/15 | €284,535 | €362,586 | +€78,050 | +27.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €265,935 | €343,986 | +€78,050 | +29.3% |
| Distributable reserves | 133 | €265,935 | €343,986 | +€78,050 | +29.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €139,818 | €84,961 | -€54,857 | -39.2% |
| Amounts payable within one year | 42/48 | €135,358 | €84,961 | -€50,397 | -37.2% |
| Current portion of amounts payable after more than one year | 42 | €5,080 | €5,059 | -€21 | -0.4% |
| Financial debts | 43 | - | €6 | +€6 | |
| Other loans | 439 | - | €6 | +€6 | |
| Trade debts | 44 | €11,706 | €14,864 | +€3,158 | +27.0% |
| Suppliers | 440/4 | €11,706 | €14,864 | +€3,158 | +27.0% |
| Taxes, remuneration and social security | 45 | €22,815 | €12,055 | -€10,760 | -47.2% |
| Taxes | 450/3 | €18,815 | €9,555 | -€9,260 | -49.2% |
| Remuneration and social security | 454/9 | €4,000 | €2,500 | -€1,500 | -37.5% |
| Other amounts payable | 47/48 | €95,757 | €52,977 | -€42,780 | -44.7% |
| Accrued charges and deferred income | 492/3 | €4,461 | €0 | -€4,461 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,419 | €16,943 | +€1,525 | +9.9% |
| Other operating charges | 640/8 | €3,902 | €4,375 | +€473 | +12.1% |
| Gross operating margin | 9900 | €118,673 | €133,653 | +€14,981 | +12.6% |
| Operating profit (loss) | 9901 | €99,352 | €112,335 | +€12,983 | +13.1% |
| Financial income | 75/76B | €37 | €0 | -€36 | -99.2% |
| Recurring financial income | 75 | €37 | €0 | -€36 | -99.2% |
| Financial charges | 65/66B | €460 | €376 | -€84 | -18.2% |
| Recurring financial charges | 65 | €460 | €376 | -€84 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €98,929 | €111,960 | +€13,030 | +13.2% |
| Income taxes | 67/77 | €28,775 | €33,910 | +€5,135 | +17.8% |
| Profit (loss) for the period | 9904 | €70,155 | €78,050 | +€7,895 | +11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €70,155 | €78,050 | +€7,895 | +11.3% |
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 27 October 2026 via checked.be.