De Smit Classics: 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 Smit Classics
Largest movements
- Cash -€6,899
down €6,899 (-85.2%), from €8,093 to €1,194
mainly Trade debts (-€13,707) and Tax, wage and social debts (-€3,458)
- Receivables within one year -€4,613
down €4,613 (-27.9%), from €16,512 to €11,899
of which Other amounts receivable: -€3,259
- Tangible fixed assets -€4,218
down €4,218 (-22.2%), from €19,022 to €14,804
of which Furniture and vehicles: -€3,430
- Trade debts -€13,707
down €13,707 (-66.4%), from €20,633 to €6,927
- Other debts +€4,490
up €4,490 (+39.2%), from €11,460 to €15,950
- Tax, wage and social debts -€3,458
down €3,458 (-78.3%), from €4,418 to €960
of which Remuneration and social security: -€2,212
- Debts after one year -€2,442
down €2,442 (-17.7%), from €13,794 to €11,352
- Profit (loss) carried forward -€673
down €673, from €0 to -€673
- Gross operating margin -€1,912
down €1,912 (-27.8%), from €6,868 to €4,956
- Depreciation +€450
up €450 (+12.0%), from €3,767 to €4,218
- Financial charges -€383
down €383 (-27.2%), from €1,411 to €1,028
- Financial income -€304
down €304 (-100%), from €304 to €0
- Other operating charges +€195
up €195 (+101%), from €193 to €388
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 | €53,687 | €37,957 | -€15,730 | -29.3% |
| Fixed assets | 21/28 | €19,082 | €14,864 | -€4,218 | -22.1% |
| Tangible fixed assets | 22/27 | €19,022 | €14,804 | -€4,218 | -22.2% |
| Plant, machinery and equipment | 23 | €7,439 | €6,651 | -€788 | -10.6% |
| Furniture and vehicles | 24 | €11,583 | €8,153 | -€3,430 | -29.6% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €34,605 | €23,093 | -€11,512 | -33.3% |
| Stocks and contracts in progress | 3 | €10,000 | €10,000 | = | 0.0% |
| Stocks | 30/36 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €16,512 | €11,899 | -€4,613 | -27.9% |
| Trade receivables | 40 | €13,253 | €11,899 | -€1,354 | -10.2% |
| Other amounts receivable | 41 | €3,259 | €0 | -€3,259 | -100% |
| Cash at bank and in hand | 54/58 | €8,093 | €1,194 | -€6,899 | -85.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €53,687 | €37,957 | -€15,730 | -29.3% |
| Equity | 10/15 | €1,003 | €327 | -€677 | -67.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €3 | €0 | -€3 | -100% |
| Distributable reserves | 133 | €3 | €0 | -€3 | -100% |
| Profit (loss) carried forward | 14 | €0 | -€673 | -€673 | |
| Amounts payable | 17/49 | €52,684 | €37,630 | -€15,053 | -28.6% |
| Amounts payable after more than one year | 17 | €13,794 | €11,352 | -€2,442 | -17.7% |
| Financial debts | 170/4 | €13,794 | €11,352 | -€2,442 | -17.7% |
| Amounts payable within one year | 42/48 | €38,890 | €26,278 | -€12,612 | -32.4% |
| Current portion of amounts payable after more than one year | 42 | €2,378 | €2,442 | +€63 | +2.7% |
| Trade debts | 44 | €20,633 | €6,927 | -€13,707 | -66.4% |
| Suppliers | 440/4 | €20,633 | €6,927 | -€13,707 | -66.4% |
| Taxes, remuneration and social security | 45 | €4,418 | €960 | -€3,458 | -78.3% |
| Taxes | 450/3 | €2,207 | €960 | -€1,247 | -56.5% |
| Remuneration and social security | 454/9 | €2,212 | €0 | -€2,212 | -100% |
| Other amounts payable | 47/48 | €11,460 | €15,950 | +€4,490 | +39.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,767 | €4,218 | +€450 | +12.0% |
| Other operating charges | 640/8 | €193 | €388 | +€195 | +101% |
| Gross operating margin | 9900 | €6,868 | €4,956 | -€1,912 | -27.8% |
| Operating profit (loss) | 9901 | €2,908 | €351 | -€2,557 | -87.9% |
| Financial income | 75/76B | €304 | €0 | -€304 | -100% |
| Recurring financial income | 75 | €304 | €0 | -€304 | -100% |
| Financial charges | 65/66B | €1,411 | €1,028 | -€383 | -27.2% |
| Recurring financial charges | 65 | €1,411 | €1,028 | -€383 | -27.2% |
| Profit (loss) for the period before taxes | 9903 | €1,801 | -€677 | -€2,478 | |
| Income taxes | 67/77 | €35 | €0 | -€35 | -100% |
| Profit (loss) for the period | 9904 | €1,766 | -€677 | -€2,443 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,766 | -€677 | -€2,443 |
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 31 October 2026 via checked.be.