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SMET

Inactive KBO/BCE: BE 0885.622.668
SMET
Financial year 2021
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Annual accounts 2021

abbreviated format, filed on 28-06-2022, 33 days before the deadline
Turnover
€850,334
▲ 7.7%
Operating result
€54,585
▲ 37.9%
EBITDA
€143,889
▲ 12.7%
Cash flow
€120,178
▲ 8.3%
Solvency
30.3%
▲ 8.1 percentage points
Current ratio
1.46
▲ 0.22

Money flows

of every €100 of turnover, €3.63 remains as profit in 2021

Balance sheet

balance sheet total €618,808 on 31-12-2021
What the company ownsHow it is paid for

Change in equityin euro

Change in cashin euro

Staff

Staff cost per FTE€34,093

Staff costs divided by the average number of full-time equivalents.

Joined and left-1

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend202120202019201820172016201520142013201220112010200920082007
Balance sheet: assets
Total assets20/58 618,808705,178656,100525,240583,259647,861431,442458,153511,203566,945635,060602,795538,586583,248181,640
Formation expenses20 ----8,2189,58710,95712,327---8781,7562,6333,511
Fixed assets21/28 364,024450,004456,184396,144425,585479,249347,991371,254414,845471,188525,604519,628502,691547,883152,991
Intangible fixed assets21 2,7394,1095,4796,848--7,80015,60023,40031,20039,00046,80054,60062,40070,200
Tangible fixed assets22/27 361,285445,220449,506388,097424,386478,050328,710342,874390,792439,335485,951471,374445,759482,38079,010
Land and buildings22 11,85412,53213,209------------
Plant, machinery and equipment23 3507002,63410,43016,47518,16925,72134,97044,75054,52961,45969,71625,97432,29134,808
Furniture and vehicles24 180,407234,859218,984159,342167,792197,34318,03352918,45336,62657,05015,30811,24619,36144,202
Leasing and similar rights25 168,673--------------
Financial fixed assets28 -6751,1991,1991,1991,199524453653653653576576470270
Current assets29/58 254,784255,175199,916129,096149,456159,02483,45086,89996,35795,757109,45683,16635,89535,36528,648
Amounts receivable after more than one year29 675--------------
Other amounts receivable291 675--------------
Stocks and contracts in progress3 3,8003,8004,8005,7504,5004,5004,5008,0003,0003,0003,0003,0003,0003,0002,700
Stocks30/36 3,8003,8004,8005,7504,5004,5004,5008,0003,0003,0003,0003,0003,0003,0002,700
Amounts receivable within one year40/41 108,33490,120104,50568,747130,81832,18126,76715,73728,28628,39625,01734,90920,99720,79020,165
Trade receivables40 85,31867,55674,32236,057100,59219,24926,76715,69510,40226,24025,01334,90510,9936,2903,753
Other amounts receivable41 23,01522,56430,18332,69030,22512,931-4317,8842,1564410,00414,50016,412
Cash at bank and in hand54/58 130,264153,74581,71045,67612,780116,48949,52259,47063,26562,32080,13444,83310,78911,0785,381
Deferred charges and accrued income490/1 11,7127,5098,9008,9221,3585,8552,6623,6921,8062,0411,3064251,109496403
Balance sheet: equity and liabilities
Total equity and liabilities10/49 618,808705,178656,100525,240583,259647,861431,442458,153511,203566,945635,060602,795538,586583,248181,640
Equity10/15 187,782156,908134,06816,56649,56456,84822,213-7,570-7,627-7,627158-10,800-48,825-34,2527,547
Contributions10/11 20,46020,46018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,600
Issued capital100 --18,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,600
Reserves13 167,322136,448115,46838,24838,24838,2483,6131,8601,8601,8601,8601,860---
Legal reserve130 --1,8601,8601,8601,8601,8601,8601,8601,8601,8601,860---
Distributable reserves133 167,322136,448113,60836,38836,38836,3881,753--------
Profit (loss) carried forward14 ----40,281-7,284---28,030-28,087-28,087-20,302-31,260-67,425-52,852-11,053
Amounts payable17/49 431,027548,271522,032508,673533,695591,013409,229465,723518,830574,572634,902613,594587,411617,500174,093
Amounts payable after more than one year17 256,976343,589350,745370,814415,779472,772318,321360,663403,361447,898489,303512,196511,095535,326126,224
Financial debts170/4 256,976343,589350,745370,814415,779472,772318,321360,663403,361447,898489,303512,196511,095535,326126,224
Amounts payable within one year42/48 174,051204,682171,287137,859117,916118,24190,908105,059115,469126,674145,599101,39876,31682,17447,225
Current portion of amounts payable after more than one year42 95,864107,09789,62077,05256,99357,15642,34341,49744,53742,32639,48032,74924,23122,74113,024
Trade debts44 16,47251,84139,07833,98822,67833,2768,79912,4915,18210,89219,34610,6609,1977,1207,261
Suppliers440/4 16,47251,84139,07833,98822,67833,2768,79912,4915,18210,89219,34610,6609,1977,1207,261
Advances received on contracts in progress46 ------------279-294
Taxes, remuneration and social security45 61,71445,74342,59026,81933,55219,06131,11525,0065,96710,96114,90114,6694,3982,24412,012
Taxes450/3 17,6484,8508,9914,31615,5978,09211,0501,6364515,2275,8522,3871,9802,2446,970
Remuneration and social security454/9 44,06640,89433,59822,50317,95410,96920,06423,3695,5165,7349,04912,2822,418-5,042
Other amounts payable47/48 ----4,6938,7488,65226,06659,78462,49671,87343,32038,21150,06814,634
Accrued charges and deferred income492/3 --------------643
Income statement
Turnover70 850,334789,477813,517587,082618,438619,407306,440250,573238,706272,796331,150264,005146,19488,15887,842
Non-recurring operating income76A --9,917--3,0009,200----4,125---
Gross operating margin9900 573,715543,158567,593372,417419,624453,080178,961146,996135,213178,918235,366190,04198,70055,97336,970
Goods, raw materials, services and sundry goods60/61 303,349285,472278,697235,233219,405187,807142,595115,751113,614109,431114,18186,87559,71265,30452,122
Remuneration, social security and pensions62 415,929398,922325,467309,978329,335278,27883,81355,42954,85982,991118,94256,75232,03834,33525,140
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 89,30488,12878,20669,66968,99094,07846,84957,08860,84361,27262,98455,00847,87130,47229,173
Other operating charges640/8 13,89715,61812,2428,98613,37611,0646,1067,9564,7126,7245,1244,8923,47717,7181,254
Non-recurring operating charges66A -899---------1,967---
Operating profit (loss)9901 54,58539,590151,679-16,2167,92369,66042,19426,52314,79927,93248,31573,38915,315-26,553-18,598
Financial income75/76B 7231,9651,3296127639241476671915314708414110
Recurring financial income75 7231,9651,3296127639241476671915314708414110
Financial charges65/66B 12,21614,57114,52116,03115,75315,88114,70926,50931,82035,78837,50437,52239,97215,3877,465
Recurring financial charges65 12,21614,57114,52116,03115,75315,88114,70926,50931,82035,78837,50437,52239,97215,3877,465
Profit (loss) for the period before taxes9903 43,09126,984138,487-31,635-7,06754,70336,83280-16,301-7,70310,95738,025-24,573-41,799-26,053
Income taxes67/77 12,2174,14420,9851,36221720,0687,049228582-----
Profit (loss) for the period9904 30,87422,840117,501-32,997-7,28434,63529,78357-16,386-7,78510,95738,025-24,573-41,799-26,053
Profit (loss) for the period to be appropriated9905 30,87422,840117,501-32,997-7,28434,63529,78357-16,386-7,78510,95738,025-24,573-41,799-26,053
Appropriation of the result
Profit (loss) to be appropriated9906 30,87422,84077,220-40,281-7,28434,6351,753-28,030-44,473-28,087-20,302-29,400-77,425-52,852-26,053
Transfer to equity691/2 30,87422,84077,220--34,6351,753----1,860---
To the legal reserve6920 -----------1,860---
To other reserves6921 30,87422,84077,220--34,6351,753--------
Social balance sheet
Average staff (FTE)9087 12.2129.39.49.98.23.12.21.73.14.41.91.11.31.1
Hours worked1013 18,12217,98614,87013,80615,21913,5414,5202,7772,8023,9706,5942,9341,7922,0511,513
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 17 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2021 (PDF), filed on 28-06-2022.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2021 abbreviated format 28-06-2022 2022-20101213 PDF
31-12-2020 micro format 17-06-2021 2021-20800485 PDF
31-12-2019 micro format 17-06-2020 2020-17500594 PDF
31-12-2018 micro format 17-06-2019 2019-19200066 PDF
31-12-2017 micro format 22-08-2018 2018-48400307 PDF
31-12-2016 micro format 05-08-2017 2017-41600231 PDF
31-12-2015 abbreviated format 13-06-2016 2016-16600206 PDF
31-12-2014 abbreviated format 15-06-2015 2015-17600349 PDF
31-12-2013 abbreviated format 30-06-2014 2014-22700150 PDF
31-12-2012 abbreviated format 26-08-2013 2013-46700351 PDF
31-12-2011 abbreviated format 25-06-2012 2012-21000105 PDF
31-12-2010 abbreviated format 24-08-2011 2011-44200258 PDF
31-12-2009 abbreviated format 14-07-2010 2010-29700042 PDF
31-12-2008 abbreviated format 19-06-2009 2009-24200154 PDF
31-12-2007 abbreviated format 03-07-2008 2008-33900365 PDF

Subsidies and aid

Flemish government 2022, 1 entry, €240 awarded, €240 paid

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
€240

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend202120202019201820172016201520142013201220112010200920082007
EBITDA 143,889127,718229,88553,45376,913163,73889,04383,61175,64389,204111,299128,39763,1863,91910,576
Cash flow 120,178110,968195,70836,67261,706128,71376,63257,14544,45753,48773,94293,03323,298-11,3273,120
Investment in fixed assets (approximation) 4,00087,917138,24632,01013,957237,27323,58713,4964,5006,85768,96074,6202,678441,275177,776
Change in cash -23,48272,03536,03432,897-103,70966,967-9,949-3,795945-17,81435,30134,043-2895,697-
Working capital 80,73350,49328,629-8,76331,54040,783-7,458-18,160-19,111-30,918-36,143-18,232-40,421-46,809-18,577
EBIT margin 6.4%5.0%18.6%-2.8%1.3%11.2%13.8%10.6%6.2%10.2%14.6%27.8%10.5%-30.1%-21.2%
Solvency 30.3%22.3%20.4%3.2%8.5%8.8%5.1%-1.7%-1.5%-1.3%0.0%-1.8%-9.1%-5.9%4.2%
Current ratio 1.461.251.170.941.271.340.920.830.830.760.750.820.470.430.61
Quick ratio 1.441.231.140.891.231.310.870.750.810.730.730.790.430.390.55
Debt to equity 2.303.493.8930.7110.7710.4018.42-------23.07
ROE 16.4%14.6%87.6%-199.2%-14.7%60.9%134.1%--------345.2%
ROA 5.0%3.2%17.9%-6.3%-1.2%5.3%6.9%0.0%-3.2%-1.4%1.7%6.3%-4.6%-7.2%-14.3%
Interest coverage 11.78--------------
Customer credit 37 days31 days33 days22 days59 days11 days32 days23 days16 days35 days28 days48 days27 days26 days16 days
Supplier credit 20 days66 days51 days53 days38 days65 days23 days39 days17 days36 days62 days45 days56 days40 days51 days

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Social balance sheet

Item31-12-2021
Employees at the balance-sheet date12
full-time10
part-time2
in full-time equivalents10.9
Average over the year, in full-time equivalents12.2
On a permanent contract12
Joined4
Left5

Source: social balance sheet in the 2021 annual accounts

Securities and guarantees

on own assets and for others
Item2021
Debts secured on the company's own assets€209,494
Mortgages, amount registered€168,473
Carrying value of the mortgaged assets€168,673

Source: notes to the 2021 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item2021
Tangible fixed assets€4,000
Depreciation and write-downs of the year€89,304

Source: notes to the 2021 annual accounts (statement of fixed assets)

Insights on SMET

The operating result for 2021 is 38% higher than in 2020. It is a recovery after the fall in 2020.

Debt's share of the balance-sheet total falls from 77.7% to 69.7%. Equity is higher and debt is lower.

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