DE SMIK: 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 SMIK
Largest movements
- Tangible fixed assets -€18,770
down €18,770 (-14.6%), from €128,193 to €109,423
of which Land and buildings: -€37,957
- Receivables within one year +€14,965
up €14,965 (+101%), from €14,758 to €29,723
of which Trade receivables: +€15,098
- Cash -€14,144
down €14,144 (-67.6%), from €20,911 to €6,767
mainly Net result for the year (-€42,759) and Receivables within one year (-€14,965)
- Financial fixed assets +€4,450
up €4,450 (+890%), from €500 to €4,950
- Deferred charges and accrued income +€2,127
up €2,127 (+99.4%), from €2,140 to €4,266
- Profit (loss) carried forward -€42,759
down €42,759, from €153 to -€42,606
- Debts after one year +€27,435
new in 2025: €27,435
- Trade debts +€14,437
up €14,437 (+259%), from €5,584 to €20,021
- Other debts -€13,722
down €13,722 (-25.0%), from €54,812 to €41,089
- Current portion of long-term debt +€7,626
new in 2025: €7,626
- Gross operating margin -€152,198
down €152,198 (-61.8%), from €246,175 to €93,977
- Staff costs -€63,681
down €63,681 (-39.6%), from €160,708 to €97,026
- Financial charges +€20,885
up €20,885 (+2,552%), from €818 to €21,703
of which Non-recurring financial charges: +€19,848
- Taxes -€9,094
no longer reported in 2025 (was €9,094)
- Depreciation -€8,956
down €8,956 (-31.6%), from €28,311 to €19,354
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 | €178,053 | €165,317 | -€12,735 | -7.2% |
| Fixed assets | 21/28 | €128,693 | €114,373 | -€14,320 | -11.1% |
| Tangible fixed assets | 22/27 | €128,193 | €109,423 | -€18,770 | -14.6% |
| Land and buildings | 22 | €54,701 | €16,744 | -€37,957 | -69.4% |
| Plant, machinery and equipment | 23 | €68,973 | €59,890 | -€9,083 | -13.2% |
| Furniture and vehicles | 24 | €4,519 | €32,789 | +€28,270 | +626% |
| Financial fixed assets | 28 | €500 | €4,950 | +€4,450 | +890% |
| Current assets | 29/58 | €49,359 | €50,944 | +€1,585 | +3.2% |
| Stocks and contracts in progress | 3 | €11,550 | €10,188 | -€1,363 | -11.8% |
| Stocks | 30/36 | €11,550 | €10,188 | -€1,363 | -11.8% |
| Amounts receivable within one year | 40/41 | €14,758 | €29,723 | +€14,965 | +101% |
| Trade receivables | 40 | €8,033 | €23,131 | +€15,098 | +188% |
| Other amounts receivable | 41 | €6,726 | €6,592 | -€134 | -2.0% |
| Cash at bank and in hand | 54/58 | €20,911 | €6,767 | -€14,144 | -67.6% |
| Deferred charges and accrued income | 490/1 | €2,140 | €4,266 | +€2,127 | +99.4% |
| Total equity and liabilities | 10/49 | €178,053 | €165,317 | -€12,735 | -7.2% |
| Equity | 10/15 | €100,979 | €58,220 | -€42,759 | -42.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €82,276 | €82,276 | = | 0.0% |
| Distributable reserves | 133 | €82,276 | €82,276 | = | 0.0% |
| Profit (loss) carried forward | 14 | €153 | -€42,606 | -€42,759 | |
| Amounts payable | 17/49 | €77,073 | €107,097 | +€30,024 | +39.0% |
| Amounts payable after more than one year | 17 | - | €27,435 | +€27,435 | |
| Financial debts | 170/4 | - | €27,435 | +€27,435 | |
| Amounts payable within one year | 42/48 | €75,232 | €78,751 | +€3,519 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | - | €7,626 | +€7,626 | |
| Financial debts | 43 | €6,921 | - | -€6,921 | |
| Credit institutions | 430/8 | €6,921 | - | -€6,921 | |
| Trade debts | 44 | €5,584 | €20,021 | +€14,437 | +259% |
| Suppliers | 440/4 | €5,584 | €20,021 | +€14,437 | +259% |
| Advances received on contracts in progress | 46 | €600 | €80 | -€520 | -86.7% |
| Taxes, remuneration and social security | 45 | €7,316 | €9,934 | +€2,619 | +35.8% |
| Taxes | 450/3 | - | €274 | +€274 | |
| Remuneration and social security | 454/9 | €7,316 | €9,660 | +€2,344 | +32.0% |
| Other amounts payable | 47/48 | €54,812 | €41,089 | -€13,722 | -25.0% |
| Accrued charges and deferred income | 492/3 | €1,841 | €911 | -€930 | -50.5% |
| Remuneration, social security and pensions | 62 | €160,708 | €97,026 | -€63,681 | -39.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,311 | €19,354 | -€8,956 | -31.6% |
| Other operating charges | 640/8 | €1,979 | €2,151 | +€173 | +8.7% |
| Gross operating margin | 9900 | €246,175 | €93,977 | -€152,198 | -61.8% |
| Operating profit (loss) | 9901 | €55,178 | -€24,554 | -€79,732 | |
| Financial income | 75/76B | €75 | €3,498 | +€3,423 | +4,574% |
| Recurring financial income | 75 | €75 | €586 | +€511 | +683% |
| Non-recurring financial income | 76B | - | €2,912 | +€2,912 | |
| Financial charges | 65/66B | €818 | €21,703 | +€20,885 | +2,552% |
| Recurring financial charges | 65 | €818 | €1,855 | +€1,037 | +127% |
| Non-recurring financial charges | 66B | - | €19,848 | +€19,848 | |
| Profit (loss) for the period before taxes | 9903 | €54,434 | -€42,759 | -€97,194 | |
| Income taxes | 67/77 | €9,094 | - | -€9,094 | |
| Profit (loss) for the period | 9904 | €45,341 | -€42,759 | -€88,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,341 | -€42,759 | -€88,100 |
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 23 October 2026 via checked.be.