DE SMIDT Frères: what changed
DE SMIDT Frères
Largest movements
- Tangible fixed assets -€87,263
down €87,263 (-29.1%), from €299,478 to €212,214
of which Plant, machinery and equipment: -€81,177
- Receivables within one year +€10,467
up €10,467 (+7.6%), from €138,163 to €148,630
of which Other amounts receivable: +€29,638
- Cash -€7,913
down €7,913 (-8.5%), from €92,908 to €84,995
mainly Net result for the year (-€90,242) and Trade debts (-€22,775)
- Profit (loss) carried forward -€90,242
down €90,242 (-61.3%), from -€147,165 to -€237,407
- Other debts +€27,319
up €27,319 (+487%), from €5,610 to €32,929
- Trade debts -€22,775
down €22,775 (-36.5%), from €62,435 to €39,659
- Gross operating margin -€14,502
down €14,502 (-84.9%), from €17,073 to €2,571
- Depreciation -€3,964
down €3,964 (-4.2%), from €94,728 to €90,763
- Financial income +€2,873
up €2,873 (+387%), from €743 to €3,616
- Staff costs -€986
down €986 (-40.6%), from €2,430 to €1,444
- Other operating charges -€825
down €825 (-18.9%), from €4,355 to €3,531
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 | €534,771 | €450,032 | -€84,739 | -15.8% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €303,670 | €216,406 | -€87,263 | -28.7% |
| Tangible fixed assets | 22/27 | €299,478 | €212,214 | -€87,263 | -29.1% |
| Plant, machinery and equipment | 23 | €275,996 | €194,819 | -€81,177 | -29.4% |
| Furniture and vehicles | 24 | €23,482 | €17,395 | -€6,087 | -25.9% |
| Financial fixed assets | 28 | €4,192 | €4,192 | = | 0.0% |
| Current assets | 29/58 | €231,101 | €233,625 | +€2,524 | +1.1% |
| Stocks and contracts in progress | 3 | €30 | €0 | -€30 | -100% |
| Stocks | 30/36 | €30 | €0 | -€30 | -100% |
| Amounts receivable within one year | 40/41 | €138,163 | €148,630 | +€10,467 | +7.6% |
| Trade receivables | 40 | €137,805 | €118,634 | -€19,171 | -13.9% |
| Other amounts receivable | 41 | €358 | €29,997 | +€29,638 | +8,269% |
| Cash at bank and in hand | 54/58 | €92,908 | €84,995 | -€7,913 | -8.5% |
| Total equity and liabilities | 10/49 | €534,771 | €450,032 | -€84,739 | -15.8% |
| Equity | 10/15 | €463,520 | €373,278 | -€90,242 | -19.5% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €410,685 | €410,685 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €111,107 | €111,107 | = | 0.0% |
| Distributable reserves | 133 | €279,577 | €279,577 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€147,165 | -€237,407 | -€90,242 | -61.3% |
| Amounts payable | 17/49 | €71,251 | €76,754 | +€5,503 | +7.7% |
| Amounts payable within one year | 42/48 | €71,251 | €76,754 | +€5,503 | +7.7% |
| Trade debts | 44 | €62,435 | €39,659 | -€22,775 | -36.5% |
| Suppliers | 440/4 | €62,435 | €39,659 | -€22,775 | -36.5% |
| Taxes, remuneration and social security | 45 | €3,206 | €4,165 | +€959 | +29.9% |
| Taxes | 450/3 | €3,206 | €4,165 | +€959 | +29.9% |
| Other amounts payable | 47/48 | €5,610 | €32,929 | +€27,319 | +487% |
| Non-recurring operating income | 76A | - | €1,192 | +€1,192 | |
| Remuneration, social security and pensions | 62 | €2,430 | €1,444 | -€986 | -40.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,728 | €90,763 | -€3,964 | -4.2% |
| Other operating charges | 640/8 | €4,355 | €3,531 | -€825 | -18.9% |
| Gross operating margin | 9900 | €17,073 | €2,571 | -€14,502 | -84.9% |
| Operating profit (loss) | 9901 | -€84,440 | -€93,167 | -€8,727 | -10.3% |
| Financial income | 75/76B | €743 | €3,616 | +€2,873 | +387% |
| Recurring financial income | 75 | €743 | €3,616 | +€2,873 | +387% |
| Financial charges | 65/66B | €430 | €548 | +€118 | +27.4% |
| Recurring financial charges | 65 | €430 | €548 | +€118 | +27.4% |
| Profit (loss) for the period before taxes | 9903 | -€84,127 | -€90,098 | -€5,971 | -7.1% |
| Income taxes | 67/77 | €114 | €144 | +€29 | +25.8% |
| Profit (loss) for the period | 9904 | -€84,241 | -€90,242 | -€6,001 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€84,241 | -€90,242 | -€6,001 | -7.1% |
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 5 November 2026 via checked.be.