DR HCJ SMET: 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.
DR HCJ SMET
Largest movements
- Current investments +€200,000
new in 2025: €200,000
- Cash -€166,274
down €166,274 (-67.1%), from €247,805 to €81,531
mainly Current investments (-€200,000) and Contributions, distributions and other (-€185,576)
- Intangible fixed assets -€18,000
down €18,000 (-16.7%), from €107,979 to €89,979
- Other debts +€63,785
up €63,785 (+45.1%), from €141,311 to €205,095
- Tax, wage and social debts -€32,697
down €32,697 (-100%), from €32,697 to €0
- Debts after one year -€18,036
down €18,036 (-18.7%), from €96,549 to €78,513
- Gross operating margin +€69,815
up €69,815 (+35.8%), from €195,171 to €264,986
- Taxes +€17,894
up €17,894 (+45.9%), from €38,999 to €56,893
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 | €365,864 | €379,841 | +€13,977 | +3.8% |
| Fixed assets | 21/28 | €115,064 | €95,666 | -€19,398 | -16.9% |
| Intangible fixed assets | 21 | €107,979 | €89,979 | -€18,000 | -16.7% |
| Tangible fixed assets | 22/27 | €7,084 | €5,686 | -€1,398 | -19.7% |
| Plant, machinery and equipment | 23 | €7,084 | €5,686 | -€1,398 | -19.7% |
| Current assets | 29/58 | €250,800 | €284,175 | +€33,375 | +13.3% |
| Amounts receivable within one year | 40/41 | €1,639 | €1,243 | -€396 | -24.2% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,639 | €1,243 | -€396 | -24.2% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €247,805 | €81,531 | -€166,274 | -67.1% |
| Deferred charges and accrued income | 490/1 | €1,357 | €1,402 | +€45 | +3.3% |
| Total equity and liabilities | 10/49 | €365,864 | €379,841 | +€13,977 | +3.8% |
| Equity | 10/15 | €76,830 | €76,830 | = | 0.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €74,330 | €74,330 | = | 0.0% |
| Distributable reserves | 133 | €74,330 | €74,330 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €289,034 | €303,011 | +€13,977 | +4.8% |
| Amounts payable after more than one year | 17 | €96,549 | €78,513 | -€18,036 | -18.7% |
| Financial debts | 170/4 | €96,549 | €78,513 | -€18,036 | -18.7% |
| Amounts payable within one year | 42/48 | €191,880 | €223,519 | +€31,639 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €17,872 | €18,036 | +€164 | +0.9% |
| Trade debts | 44 | €0 | €387 | +€387 | |
| Suppliers | 440/4 | €0 | €387 | +€387 | |
| Taxes, remuneration and social security | 45 | €32,697 | €0 | -€32,697 | -100% |
| Taxes | 450/3 | €32,697 | €0 | -€32,697 | -100% |
| Other amounts payable | 47/48 | €141,311 | €205,095 | +€63,785 | +45.1% |
| Accrued charges and deferred income | 492/3 | €605 | €979 | +€374 | +61.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,816 | €20,683 | -€133 | -0.6% |
| Other operating charges | 640/8 | €266 | €186 | -€80 | -30.2% |
| Gross operating margin | 9900 | €195,171 | €264,986 | +€69,815 | +35.8% |
| Operating profit (loss) | 9901 | €174,089 | €244,117 | +€70,028 | +40.2% |
| Financial income | 75/76B | €3 | €448 | +€445 | +14,357% |
| Recurring financial income | 75 | €3 | €448 | +€445 | +14,357% |
| Financial charges | 65/66B | €1,920 | €2,096 | +€176 | +9.2% |
| Recurring financial charges | 65 | €1,920 | €2,096 | +€176 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €172,172 | €242,469 | +€70,297 | +40.8% |
| Income taxes | 67/77 | €38,999 | €56,893 | +€17,894 | +45.9% |
| Profit (loss) for the period | 9904 | €133,173 | €185,576 | +€52,403 | +39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €133,173 | €185,576 | +€52,403 | +39.3% |
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 28 October 2026 via checked.be.