PAUL DE SMET: what changed
What changed
PAUL DE SMET
NACE 47.540, Retail sale of electrical household appliances
filed annual accounts (NBB)
Net result for the year
€101,291
2024 · €259,402-€158,111
Equity
€610,942
2024 · €599,651+€11,291
Cash
€104,668
2024 · €68,227+€36,441
Balance sheet total
€1.9m
2024 · €1.9m-€59,499
Largest movements
Assets
- Tangible fixed assets -€79,615
down €79,615 (-13.0%), from €610,132 to €530,517
of which Land and buildings: -€56,265
- Receivables within one year -€56,082
down €56,082 (-17.9%), from €313,425 to €257,342
of which Trade receivables: -€37,055
- Stocks and contracts +€39,757
up €39,757 (+4.2%), from €952,106 to €991,863
- Cash +€36,441
up €36,441 (+53.4%), from €68,227 to €104,668
mainly Net result for the year (+€101,291) and Depreciation (+€87,414)
Equity and liabilities
- Other debts -€149,620
down €149,620 (-62.2%), from €240,712 to €91,093
- Trade debts +€83,898
up €83,898 (+23.3%), from €360,506 to €444,403
- Short-term financial debts +€50,000
up €50,000 (+9.5%), from €525,000 to €575,000
- Advances received -€36,170
down €36,170 (-31.0%), from €116,688 to €80,518
- Reserves +€22,000
up €22,000 (+19.5%), from €113,000 to €135,000
Income statement
- Gross operating margin -€167,039
down €167,039 (-26.1%), from €640,043 to €473,004
- Staff costs -€26,385
down €26,385 (-11.5%), from €229,811 to €203,426
- Other operating charges +€13,146
up €13,146 (+60.5%), from €21,721 to €34,867
- Financial charges +€7,326
up €7,326 (+23.5%), from €31,214 to €38,541
of which Financial charges: +€7,152
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
€259,402
Gross operating margin
-€167,039
Staff costs
+€26,385
Depreciation
-€1,247
Other operating charges
-€13,146
Other operating items
+€1,805
Financial income
+€1,128
Financial charges
-€7,326
Taxes
+€1,330
Result 2025
€101,291
raises the resultlowers the resultnot broken down further in the accounts
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
+€105,173
Investment
-€7,799
Financing
-€60,932
Cash 2024
€68,227
From operations (derived)
+€105,173
Net result for the year
+€101,291
Depreciation
+€87,414
Stocks and contracts
-€39,757
Receivables within one year
+€56,082
Trade debts
+€83,898
Tax, wage and social debts
+€2,035
Advances received
-€36,170
Other debts
-€149,620
Investment (derived)
-€7,799
Investment in fixed assets (net)
-€7,799
Financing
-€60,932
Debts after one year
-€17,894
Current portion of long-term debt
-€3,038
Short-term financial debts
+€50,000
Contributions, distributions and other
-€90,000
Cash 2025
€104,668
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,947,794 | €1,888,296 | -€59,499 | -3.1% |
| Fixed assets | 21/28 | €614,037 | €534,422 | -€79,615 | -13.0% |
| Tangible fixed assets | 22/27 | €610,132 | €530,517 | -€79,615 | -13.0% |
| Land and buildings | 22 | €544,059 | €487,794 | -€56,265 | -10.3% |
| Plant, machinery and equipment | 23 | €20,594 | €11,475 | -€9,118 | -44.3% |
| Furniture and vehicles | 24 | €44,125 | €30,028 | -€14,096 | -31.9% |
| Other tangible fixed assets | 26 | €1,355 | €1,219 | -€135 | -10.0% |
| Financial fixed assets | 28 | €3,905 | €3,905 | = | 0.0% |
| Current assets | 29/58 | €1,333,758 | €1,353,874 | +€20,116 | +1.5% |
| Stocks and contracts in progress | 3 | €952,106 | €991,863 | +€39,757 | +4.2% |
| Stocks | 30/36 | €952,106 | €991,863 | +€39,757 | +4.2% |
| Amounts receivable within one year | 40/41 | €313,425 | €257,342 | -€56,082 | -17.9% |
| Trade receivables | 40 | €184,851 | €147,795 | -€37,055 | -20.0% |
| Other amounts receivable | 41 | €128,574 | €109,547 | -€19,027 | -14.8% |
| Cash at bank and in hand | 54/58 | €68,227 | €104,668 | +€36,441 | +53.4% |
| Total equity and liabilities | 10/49 | €1,947,794 | €1,888,296 | -€59,499 | -3.1% |
| Equity | 10/15 | €599,651 | €610,942 | +€11,291 | +1.9% |
| Contributions | 10/11 | €130,789 | €130,789 | = | 0.0% |
| Revaluation surpluses | 12 | €355,000 | €343,500 | -€11,500 | -3.2% |
| Reserves | 13 | €113,000 | €135,000 | +€22,000 | +19.5% |
| Distributable reserves | 133 | €113,000 | €135,000 | +€22,000 | +19.5% |
| Profit (loss) carried forward | 14 | €862 | €1,653 | +€791 | +91.8% |
| Amounts payable | 17/49 | €1,348,143 | €1,277,353 | -€70,790 | -5.3% |
| Amounts payable after more than one year | 17 | €51,214 | €33,320 | -€17,894 | -34.9% |
| Financial debts | 170/4 | €51,214 | €33,320 | -€17,894 | -34.9% |
| Amounts payable within one year | 42/48 | €1,296,929 | €1,244,034 | -€52,895 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | €28,465 | €25,427 | -€3,038 | -10.7% |
| Financial debts | 43 | €525,000 | €575,000 | +€50,000 | +9.5% |
| Credit institutions | 430/8 | €525,000 | €575,000 | +€50,000 | +9.5% |
| Trade debts | 44 | €360,506 | €444,403 | +€83,898 | +23.3% |
| Suppliers | 440/4 | €360,506 | €444,403 | +€83,898 | +23.3% |
| Advances received on contracts in progress | 46 | €116,688 | €80,518 | -€36,170 | -31.0% |
| Taxes, remuneration and social security | 45 | €25,557 | €27,592 | +€2,035 | +8.0% |
| Taxes | 450/3 | €5,111 | €2,080 | -€3,031 | -59.3% |
| Remuneration and social security | 454/9 | €20,446 | €25,512 | +€5,066 | +24.8% |
| Other amounts payable | 47/48 | €240,712 | €91,093 | -€149,620 | -62.2% |
| Remuneration, social security and pensions | 62 | €229,811 | €203,426 | -€26,385 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,167 | €87,414 | +€1,247 | +1.4% |
| Other operating charges | 640/8 | €21,721 | €34,867 | +€13,146 | +60.5% |
| Non-recurring operating charges | 66A | €1,805 | €0 | -€1,805 | -100% |
| Gross operating margin | 9900 | €640,043 | €473,004 | -€167,039 | -26.1% |
| Operating profit (loss) | 9901 | €300,540 | €147,298 | -€153,242 | -51.0% |
| Financial income | 75/76B | €3,466 | €4,593 | +€1,128 | +32.5% |
| Recurring financial income | 75 | €3,466 | €4,593 | +€1,128 | +32.5% |
| Financial charges | 65/66B | €31,214 | €38,541 | +€7,326 | +23.5% |
| Recurring financial charges | 65 | €31,213 | €38,366 | +€7,152 | +22.9% |
| Non-recurring financial charges | 66B | €1 | €175 | +€174 | +17,400% |
| Profit (loss) for the period before taxes | 9903 | €272,791 | €113,350 | -€159,441 | -58.4% |
| Income taxes | 67/77 | €13,389 | €12,059 | -€1,330 | -9.9% |
| Profit (loss) for the period | 9904 | €259,402 | €101,291 | -€158,111 | -61.0% |
| Profit (loss) for the period to be appropriated | 9905 | €259,402 | €101,291 | -€158,111 | -61.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.