BUDGET-SMT: 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.
BUDGET-SMT
Largest movements
- Receivables within one year -€34,242
down €34,242 (-65.4%), from €52,353 to €18,111
of which Other amounts receivable: -€32,738
- Stocks and contracts +€25,000
new in 2025: €25,000
- Tangible fixed assets -€2,616
down €2,616 (-36.6%), from €7,156 to €4,540
of which Furniture and vehicles: -€2,904
- Cash +€2,616
up €2,616 (+31.6%), from €8,291 to €10,907
mainly Receivables within one year (+€34,242) and Depreciation (+€3,195)
- Tax, wage and social debts -€5,725
down €5,725 (-79.0%), from €7,250 to €1,525
- Trade debts -€3,760
no longer reported in 2025 (was €3,760)
- Reserves +€2,750
up €2,750 (+8.9%), from €31,000 to €33,750
- Current portion of long-term debt -€1,690
down €1,690 (-66.3%), from €2,550 to €860
- Debts after one year -€860
no longer reported in 2025 (was €860)
- Gross operating margin -€15,148
down €15,148 (-65.6%), from €23,093 to €7,945
- Taxes -€4,890
down €4,890 (-69.4%), from €7,047 to €2,157
- Other operating charges -€272
down €272 (-26.9%), from €1,010 to €738
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 | €67,800 | €58,558 | -€9,243 | -13.6% |
| Fixed assets | 21/28 | €7,156 | €4,540 | -€2,616 | -36.6% |
| Tangible fixed assets | 22/27 | €7,156 | €4,540 | -€2,616 | -36.6% |
| Plant, machinery and equipment | 23 | €378 | €666 | +€288 | +76.3% |
| Furniture and vehicles | 24 | €6,779 | €3,875 | -€2,904 | -42.8% |
| Current assets | 29/58 | €60,644 | €54,017 | -€6,627 | -10.9% |
| Stocks and contracts in progress | 3 | - | €25,000 | +€25,000 | |
| Stocks | 30/36 | - | €25,000 | +€25,000 | |
| Amounts receivable within one year | 40/41 | €52,353 | €18,111 | -€34,242 | -65.4% |
| Trade receivables | 40 | €12,921 | €11,416 | -€1,505 | -11.6% |
| Other amounts receivable | 41 | €39,432 | €6,694 | -€32,738 | -83.0% |
| Cash at bank and in hand | 54/58 | €8,291 | €10,907 | +€2,616 | +31.6% |
| Total equity and liabilities | 10/49 | €67,800 | €58,558 | -€9,243 | -13.6% |
| Equity | 10/15 | €53,380 | €56,173 | +€2,793 | +5.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €31,000 | €33,750 | +€2,750 | +8.9% |
| Distributable reserves | 133 | €31,000 | €33,750 | +€2,750 | +8.9% |
| Profit (loss) carried forward | 14 | €16,180 | €16,223 | +€43 | +0.3% |
| Amounts payable | 17/49 | €14,420 | €2,385 | -€12,035 | -83.5% |
| Amounts payable after more than one year | 17 | €860 | - | -€860 | |
| Financial debts | 170/4 | €860 | - | -€860 | |
| Amounts payable within one year | 42/48 | €13,560 | €2,385 | -€11,175 | -82.4% |
| Current portion of amounts payable after more than one year | 42 | €2,550 | €860 | -€1,690 | -66.3% |
| Trade debts | 44 | €3,760 | - | -€3,760 | |
| Suppliers | 440/4 | €3,760 | - | -€3,760 | |
| Taxes, remuneration and social security | 45 | €7,250 | €1,525 | -€5,725 | -79.0% |
| Taxes | 450/3 | €7,250 | €1,525 | -€5,725 | -79.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,127 | €3,195 | +€68 | +2.2% |
| Other operating charges | 640/8 | €1,010 | €738 | -€272 | -26.9% |
| Gross operating margin | 9900 | €23,093 | €7,945 | -€15,148 | -65.6% |
| Operating profit (loss) | 9901 | €18,956 | €4,012 | -€14,943 | -78.8% |
| Financial income | 75/76B | €1,189 | €1,200 | +€11 | +0.9% |
| Recurring financial income | 75 | €1,189 | €1,200 | +€11 | +0.9% |
| Financial charges | 65/66B | €394 | €263 | -€131 | -33.3% |
| Recurring financial charges | 65 | €394 | €263 | -€131 | -33.3% |
| Profit (loss) for the period before taxes | 9903 | €19,752 | €4,950 | -€14,802 | -74.9% |
| Income taxes | 67/77 | €7,047 | €2,157 | -€4,890 | -69.4% |
| Profit (loss) for the period | 9904 | €12,704 | €2,793 | -€9,912 | -78.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,704 | €2,793 | -€9,912 | -78.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.