Makelaarskantoor De Smet: what changed
What changed
Makelaarskantoor De Smet
NACE 68.310, Real estate agency activities
filed annual accounts (NBB)
Net result for the year
€98,348
2024 · €226,020-€127,672
Equity
€419,028
2024 · €380,679+€38,348
Cash
€302,011
2024 · €260,357+€41,654
Balance sheet total
€450,376
2024 · €497,111-€46,735
Largest movements
Assets
- Receivables within one year -€82,528
down €82,528 (-68.1%), from €121,252 to €38,724
of which Trade receivables: -€87,751
- Cash +€41,654
up €41,654 (+16.0%), from €260,357 to €302,011
mainly Net result for the year (+€98,348) and Receivables within one year (+€82,528)
- Tangible fixed assets -€5,640
down €5,640 (-5.0%), from €112,813 to €107,173
of which Furniture and vehicles: -€9,678
Equity and liabilities
- Tax, wage and social debts -€69,019
down €69,019 (-82.7%), from €83,466 to €14,447
of which Taxes: -€69,168
- Reserves +€38,348
up €38,348 (+10.2%), from €375,679 to €414,028
- Trade debts -€11,909
down €11,909 (-61.5%), from €19,365 to €7,456
Income statement
- Gross operating margin -€129,763
down €129,763 (-33.7%), from €385,093 to €255,330
- Taxes -€47,787
down €47,787 (-55.5%), from €86,043 to €38,256
- Staff costs +€43,220
up €43,220 (+71.0%), from €60,897 to €104,118
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.
Result 2024
€226,020
Gross operating margin
-€129,763
Staff costs
-€43,220
Depreciation
-€2,540
Other operating charges
-€1,529
Financial income
+€1,827
Financial charges
-€233
Taxes
+€47,787
Result 2025
€98,348
raises the resultlowers the result
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.
From operations
+€114,402
Investment
-€8,594
Financing
-€64,154
Cash 2024
€260,357
From operations (derived)
+€114,402
Net result for the year
+€98,348
Depreciation
+€14,234
Receivables within one year
+€82,528
Deferred charges and accrued income
+€220
Trade debts
-€11,909
Tax, wage and social debts
-€69,019
Investment (derived)
-€8,594
Investment in fixed assets (net)
-€8,594
Financing
-€64,154
Debts after one year
-€4,255
Current portion of long-term debt
+€100
Contributions, distributions and other
-€60,000
Cash 2025
€302,011
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €497,111 | €450,376 | -€46,735 | -9.4% |
| Fixed assets | 21/28 | €112,813 | €107,173 | -€5,640 | -5.0% |
| Tangible fixed assets | 22/27 | €112,813 | €107,173 | -€5,640 | -5.0% |
| Land and buildings | 22 | €64,894 | €64,000 | -€894 | -1.4% |
| Plant, machinery and equipment | 23 | €10,964 | €16,281 | +€5,317 | +48.5% |
| Furniture and vehicles | 24 | €34,919 | €25,241 | -€9,678 | -27.7% |
| Other tangible fixed assets | 26 | €2,036 | €1,651 | -€385 | -18.9% |
| Current assets | 29/58 | €384,298 | €343,204 | -€41,094 | -10.7% |
| Amounts receivable within one year | 40/41 | €121,252 | €38,724 | -€82,528 | -68.1% |
| Trade receivables | 40 | €110,873 | €23,122 | -€87,751 | -79.1% |
| Other amounts receivable | 41 | €10,379 | €15,602 | +€5,223 | +50.3% |
| Cash at bank and in hand | 54/58 | €260,357 | €302,011 | +€41,654 | +16.0% |
| Deferred charges and accrued income | 490/1 | €2,689 | €2,468 | -€220 | -8.2% |
| Total equity and liabilities | 10/49 | €497,111 | €450,376 | -€46,735 | -9.4% |
| Equity | 10/15 | €380,679 | €419,028 | +€38,348 | +10.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €375,679 | €414,028 | +€38,348 | +10.2% |
| Distributable reserves | 133 | €375,679 | €414,028 | +€38,348 | +10.2% |
| Amounts payable | 17/49 | €116,432 | €31,349 | -€85,083 | -73.1% |
| Amounts payable after more than one year | 17 | €8,946 | €4,691 | -€4,255 | -47.6% |
| Financial debts | 170/4 | €8,946 | €4,691 | -€4,255 | -47.6% |
| Amounts payable within one year | 42/48 | €107,486 | €26,657 | -€80,828 | -75.2% |
| Current portion of amounts payable after more than one year | 42 | €4,154 | €4,255 | +€100 | +2.4% |
| Trade debts | 44 | €19,365 | €7,456 | -€11,909 | -61.5% |
| Suppliers | 440/4 | €19,365 | €7,456 | -€11,909 | -61.5% |
| Advances received on contracts in progress | 46 | €500 | €500 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €83,466 | €14,447 | -€69,019 | -82.7% |
| Taxes | 450/3 | €83,458 | €14,289 | -€69,168 | -82.9% |
| Remuneration and social security | 454/9 | €8 | €157 | +€149 | +1,783% |
| Non-recurring operating income | 76A | - | €22,826 | +€22,826 | |
| Remuneration, social security and pensions | 62 | €60,897 | €104,118 | +€43,220 | +71.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,694 | €14,234 | +€2,540 | +21.7% |
| Other operating charges | 640/8 | €795 | €2,324 | +€1,529 | +192% |
| Gross operating margin | 9900 | €385,093 | €255,330 | -€129,763 | -33.7% |
| Operating profit (loss) | 9901 | €311,708 | €134,654 | -€177,053 | -56.8% |
| Financial income | 75/76B | €716 | €2,543 | +€1,827 | +255% |
| Recurring financial income | 75 | €716 | €2,543 | +€1,827 | +255% |
| Financial charges | 65/66B | €361 | €593 | +€233 | +64.5% |
| Recurring financial charges | 65 | €361 | €593 | +€233 | +64.5% |
| Profit (loss) for the period before taxes | 9903 | €312,063 | €136,604 | -€175,459 | -56.2% |
| Income taxes | 67/77 | €86,043 | €38,256 | -€47,787 | -55.5% |
| Profit (loss) for the period | 9904 | €226,020 | €98,348 | -€127,672 | -56.5% |
| Profit (loss) for the period to be appropriated | 9905 | €226,020 | €98,348 | -€127,672 | -56.5% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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 6 November 2026 via checked.be.