DE SMET STEVE: what changed
DE SMET STEVE
Largest movements
- Receivables within one year -€7,820
down €7,820 (-15.8%), from €49,349 to €41,529
of which Other amounts receivable: -€15,820
- Cash -€5,202
down €5,202 (-4.1%), from €126,069 to €120,867
mainly Contributions, distributions and other (-€50,000) and Trade debts (-€5,614)
- Stocks and contracts -€5,025
down €5,025 (-31.0%), from €16,227 to €11,201
- Tangible fixed assets -€4,558
down €4,558 (-37.4%), from €12,183 to €7,626
of which Furniture and vehicles: -€3,719
- Profit (loss) carried forward -€21,758
down €21,758 (-19.8%), from €110,059 to €88,302
- Tax, wage and social debts +€7,500
up €7,500 (+1,224%), from €613 to €8,113
- Trade debts -€5,614
down €5,614 (-86.6%), from €6,485 to €872
- Depreciation +€3,008
up €3,008 (+194%), from €1,549 to €4,558
- Taxes -€1,179
down €1,179 (-11.1%), from €10,613 to €9,434
- Financial charges +€698
new in 2025: €698
- Gross operating margin -€448
down €448 (-1.0%), from €44,566 to €44,118
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €207,321 | €186,050 | -€21,270 | -10.3% |
| Fixed assets | 21/28 | €13,083 | €8,526 | -€4,558 | -34.8% |
| Tangible fixed assets | 22/27 | €12,183 | €7,626 | -€4,558 | -37.4% |
| Plant, machinery and equipment | 23 | €1,656 | €817 | -€839 | -50.7% |
| Furniture and vehicles | 24 | €10,527 | €6,808 | -€3,719 | -35.3% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €194,237 | €177,525 | -€16,713 | -8.6% |
| Stocks and contracts in progress | 3 | €16,227 | €11,201 | -€5,025 | -31.0% |
| Stocks | 30/36 | €16,227 | €11,201 | -€5,025 | -31.0% |
| Amounts receivable within one year | 40/41 | €49,349 | €41,529 | -€7,820 | -15.8% |
| Trade receivables | 40 | €22,635 | €30,635 | +€8,000 | +35.3% |
| Other amounts receivable | 41 | €26,713 | €10,894 | -€15,820 | -59.2% |
| Cash at bank and in hand | 54/58 | €126,069 | €120,867 | -€5,202 | -4.1% |
| Deferred charges and accrued income | 490/1 | €2,593 | €3,928 | +€1,335 | +51.5% |
| Total equity and liabilities | 10/49 | €207,321 | €186,050 | -€21,270 | -10.3% |
| Equity | 10/15 | €176,693 | €154,935 | -€21,758 | -12.3% |
| Contributions | 10/11 | €9,296 | €9,296 | = | 0.0% |
| Reserves | 13 | €57,337 | €57,337 | = | 0.0% |
| Non-distributable reserves | 130/1 | €930 | €930 | = | 0.0% |
| Reserves not available under the articles | 1311 | €930 | €930 | = | 0.0% |
| Distributable reserves | 133 | €56,407 | €56,407 | = | 0.0% |
| Profit (loss) carried forward | 14 | €110,059 | €88,302 | -€21,758 | -19.8% |
| Amounts payable | 17/49 | €30,628 | €31,115 | +€488 | +1.6% |
| Amounts payable within one year | 42/48 | €30,628 | €31,115 | +€488 | +1.6% |
| Trade debts | 44 | €6,485 | €872 | -€5,614 | -86.6% |
| Suppliers | 440/4 | €6,485 | €872 | -€5,614 | -86.6% |
| Taxes, remuneration and social security | 45 | €613 | €8,113 | +€7,500 | +1,224% |
| Taxes | 450/3 | €613 | €8,113 | +€7,500 | +1,224% |
| Other amounts payable | 47/48 | €23,529 | €22,131 | -€1,399 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,549 | €4,558 | +€3,008 | +194% |
| Other operating charges | 640/8 | €905 | €1,186 | +€281 | +31.1% |
| Gross operating margin | 9900 | €44,566 | €44,118 | -€448 | -1.0% |
| Operating profit (loss) | 9901 | €42,112 | €38,374 | -€3,738 | -8.9% |
| Financial income | 75/76B | €218 | - | -€218 | |
| Recurring financial income | 75 | €218 | - | -€218 | |
| Financial charges | 65/66B | - | €698 | +€698 | |
| Recurring financial charges | 65 | - | €698 | +€698 | |
| Profit (loss) for the period before taxes | 9903 | €42,330 | €37,676 | -€4,654 | -11.0% |
| Income taxes | 67/77 | €10,613 | €9,434 | -€1,179 | -11.1% |
| Profit (loss) for the period | 9904 | €31,717 | €28,242 | -€3,475 | -11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,717 | €28,242 | -€3,475 | -11.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.