DE SMET - DM: 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.
What changed
DE SMET - DM
NACE 01.480, Raising of other animals
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€639
2024 · €8,646-€9,285
Equity
€633,355
2024 · €633,994-€639
Cash
€58,609
2024 · €42,290+€16,320
Balance sheet total
€673,048
2024 · €687,045-€13,997
Largest movements
Assets
- Tangible fixed assets -€24,651
down €24,651 (-3.9%), from €624,436 to €599,786
of which Land and buildings: -€14,904
- Cash +€16,320
up €16,320 (+38.6%), from €42,290 to €58,609
mainly Depreciation (+€28,594) and Stocks and contracts (+€5,680)
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Turnover -€6,084
down €6,084 (-8.7%), from €70,209 to €64,125
- Gross operating margin -€5,705
down €5,705 (-13.0%), from €43,749 to €38,044
- Write-downs +€3,091
up €3,091 (+567%), from €545 to €3,636
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.
Result 2024
€8,646
Gross operating margin
-€5,705
Depreciation
-€183
Write-downs
-€3,091
Other operating charges
-€51
Financial income
-€213
Financial charges
-€2
Taxes
-€39
Result 2025
-€639
lowers the result
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.
From operations
+€23,798
Investment
-€3,543
Financing
-€3,935
Cash 2024
€42,290
From operations (derived)
+€23,798
Net result for the year
-€639
Depreciation
+€28,594
Stocks and contracts
+€5,680
Receivables within one year
-€414
Trade debts
+€410
Tax, wage and social debts
-€1,581
Other debts
-€6,675
Accrued charges and deferred income
-€1,577
Investment (derived)
-€3,543
Investment in fixed assets (net)
-€3,543
Financing
-€3,935
Debts after one year
-€2,445
Short-term financial debts
-€1,490
Cash 2025
€58,609
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €687,045 | €673,048 | -€13,997 | -2.0% |
| Fixed assets | 21/28 | €627,684 | €602,634 | -€25,051 | -4.0% |
| Intangible fixed assets | 21 | €3,248 | €2,848 | -€400 | -12.3% |
| Tangible fixed assets | 22/27 | €624,436 | €599,786 | -€24,651 | -3.9% |
| Land and buildings | 22 | €593,859 | €578,955 | -€14,904 | -2.5% |
| Plant, machinery and equipment | 23 | €5,604 | €3,584 | -€2,020 | -36.0% |
| Furniture and vehicles | 24 | €15,613 | €10,886 | -€4,727 | -30.3% |
| Leasing and similar rights | 25 | €9,361 | €6,361 | -€3,000 | -32.0% |
| Current assets | 29/58 | €59,361 | €70,414 | +€11,054 | +18.6% |
| Stocks and contracts in progress | 3 | €15,695 | €10,015 | -€5,680 | -36.2% |
| Stocks | 30/36 | €15,695 | €10,015 | -€5,680 | -36.2% |
| Amounts receivable within one year | 40/41 | €681 | €1,095 | +€414 | +60.8% |
| Other amounts receivable | 41 | €681 | €1,095 | +€414 | +60.8% |
| Cash at bank and in hand | 54/58 | €42,290 | €58,609 | +€16,320 | +38.6% |
| Deferred charges and accrued income | 490/1 | €695 | €695 | = | 0.0% |
| Total equity and liabilities | 10/49 | €687,045 | €673,048 | -€13,997 | -2.0% |
| Equity | 10/15 | €633,994 | €633,355 | -€639 | -0.1% |
| Contributions | 10/11 | €631,600 | €631,600 | = | 0.0% |
| Capital | 10 | €631,600 | €631,600 | = | 0.0% |
| Issued capital | 100 | €631,600 | €631,600 | = | 0.0% |
| Reserves | 13 | €2,394 | €2,394 | = | 0.0% |
| Distributable reserves | 133 | €2,394 | €2,394 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€639 | -€639 | |
| Amounts payable | 17/49 | €53,051 | €39,693 | -€13,358 | -25.2% |
| Amounts payable after more than one year | 17 | €2,445 | - | -€2,445 | |
| Financial debts | 170/4 | €2,445 | - | -€2,445 | |
| Amounts payable within one year | 42/48 | €48,509 | €39,173 | -€9,336 | -19.2% |
| Financial debts | 43 | €3,630 | €2,140 | -€1,490 | -41.0% |
| Credit institutions | 430/8 | €3,630 | €2,140 | -€1,490 | -41.0% |
| Trade debts | 44 | €154 | €563 | +€410 | +267% |
| Suppliers | 440/4 | €154 | €563 | +€410 | +267% |
| Taxes, remuneration and social security | 45 | €8,619 | €7,038 | -€1,581 | -18.3% |
| Taxes | 450/3 | €8,619 | €7,038 | -€1,581 | -18.3% |
| Other amounts payable | 47/48 | €36,106 | €29,432 | -€6,675 | -18.5% |
| Accrued charges and deferred income | 492/3 | €2,097 | €520 | -€1,577 | -75.2% |
| Turnover | 70 | €70,209 | €64,125 | -€6,084 | -8.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €76,348 | €77,029 | +€681 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,410 | €28,594 | +€183 | +0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €545 | €3,636 | +€3,091 | +567% |
| Other operating charges | 640/8 | €2,818 | €2,869 | +€51 | +1.8% |
| Gross operating margin | 9900 | €43,749 | €38,044 | -€5,705 | -13.0% |
| Operating profit (loss) | 9901 | €11,976 | €2,945 | -€9,031 | -75.4% |
| Financial income | 75/76B | €232 | €19 | -€213 | -91.9% |
| Recurring financial income | 75 | €232 | €19 | -€213 | -91.9% |
| Financial charges | 65/66B | €2,963 | €2,965 | +€2 | +0.1% |
| Recurring financial charges | 65 | €2,963 | €2,965 | +€2 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €9,246 | -€0 | -€9,246 | |
| Income taxes | 67/77 | €600 | €639 | +€39 | +6.4% |
| Profit (loss) for the period | 9904 | €8,646 | -€639 | -€9,285 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,646 | -€639 | -€9,285 |
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 24 October 2026 via checked.be.