ELECTRO SMETS: 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.
ELECTRO SMETS
Largest movements
- Stocks and contracts +€95,464
up €95,464 (+23.8%), from €400,521 to €495,985
- Cash -€34,516
down €34,516 (-20.8%), from €165,896 to €131,380
mainly Stocks and contracts (-€95,464) and Investment in fixed assets (net) (-€55,739)
- Receivables within one year -€32,034
down €32,034 (-56.3%), from €56,877 to €24,843
of which Trade receivables: -€33,167
- Reserves +€37,526
up €37,526 (+6.3%), from €597,973 to €635,499
of which Distributable reserves: +€37,526
- Tax, wage and social debts -€26,698
down €26,698 (-46.4%), from €57,509 to €30,811
of which Taxes: -€22,601
- Other debts -€23,292
down €23,292 (-98.1%), from €23,750 to €458
- Trade debts +€19,917
up €19,917 (+39.5%), from €50,416 to €70,333
- Current portion of long-term debt +€11,396
up €11,396 (+38.2%), from €29,824 to €41,220
- Gross operating margin +€9,160
up €9,160 (+2.4%), from €378,088 to €387,248
- Staff costs +€9,001
up €9,001 (+4.5%), from €201,589 to €210,590
- Financial charges -€6,618
down €6,618 (-46.2%), from €14,338 to €7,720
- Depreciation +€5,535
up €5,535 (+9.4%), from €58,949 to €64,484
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.
Cash bridge derived
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 | €863,402 | €884,485 | +€21,083 | +2.4% |
| Fixed assets | 21/28 | €232,247 | €223,502 | -€8,745 | -3.8% |
| Tangible fixed assets | 22/27 | €232,247 | €223,502 | -€8,745 | -3.8% |
| Land and buildings | 22 | €120,821 | €99,803 | -€21,018 | -17.4% |
| Plant, machinery and equipment | 23 | €19,041 | €13,406 | -€5,635 | -29.6% |
| Furniture and vehicles | 24 | €92,385 | €110,293 | +€17,908 | +19.4% |
| Current assets | 29/58 | €631,155 | €660,983 | +€29,828 | +4.7% |
| Stocks and contracts in progress | 3 | €400,521 | €495,985 | +€95,464 | +23.8% |
| Stocks | 30/36 | €400,521 | €495,985 | +€95,464 | +23.8% |
| Amounts receivable within one year | 40/41 | €56,877 | €24,843 | -€32,034 | -56.3% |
| Trade receivables | 40 | €56,210 | €23,043 | -€33,167 | -59.0% |
| Other amounts receivable | 41 | €667 | €1,800 | +€1,133 | +169.9% |
| Current investments | 50/53 | €1,000 | €947 | -€53 | -5.3% |
| Cash at bank and in hand | 54/58 | €165,896 | €131,380 | -€34,516 | -20.8% |
| Deferred charges and accrued income | 490/1 | €6,861 | €7,828 | +€967 | +14.1% |
| Total equity and liabilities | 10/49 | €863,402 | €884,485 | +€21,083 | +2.4% |
| Equity | 10/15 | €604,973 | €642,499 | +€37,526 | +6.2% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €597,973 | €635,499 | +€37,526 | +6.3% |
| Tax-exempt reserves | 132 | €57,500 | €57,500 | = | 0.0% |
| Distributable reserves | 133 | €540,473 | €577,999 | +€37,526 | +6.9% |
| Amounts payable | 17/49 | €258,429 | €241,986 | -€16,443 | -6.4% |
| Amounts payable after more than one year | 17 | €96,930 | €99,164 | +€2,234 | +2.3% |
| Financial debts | 170/4 | €96,930 | €99,164 | +€2,234 | +2.3% |
| Amounts payable within one year | 42/48 | €161,499 | €142,822 | -€18,677 | -11.6% |
| Current portion of amounts payable after more than one year | 42 | €29,824 | €41,220 | +€11,396 | +38.2% |
| Trade debts | 44 | €50,416 | €70,333 | +€19,917 | +39.5% |
| Suppliers | 440/4 | €50,416 | €70,333 | +€19,917 | +39.5% |
| Taxes, remuneration and social security | 45 | €57,509 | €30,811 | -€26,698 | -46.4% |
| Taxes | 450/3 | €30,808 | €8,207 | -€22,601 | -73.4% |
| Remuneration and social security | 454/9 | €26,701 | €22,604 | -€4,097 | -15.3% |
| Other amounts payable | 47/48 | €23,750 | €458 | -€23,292 | -98.1% |
| Remuneration, social security and pensions | 62 | €201,589 | €210,590 | +€9,001 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,949 | €64,484 | +€5,535 | +9.4% |
| Other operating charges | 640/8 | €6,363 | €6,180 | -€183 | -2.9% |
| Gross operating margin | 9900 | €378,088 | €387,248 | +€9,160 | +2.4% |
| Operating profit (loss) | 9901 | €111,187 | €105,994 | -€5,193 | -4.7% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €14,338 | €7,720 | -€6,618 | -46.2% |
| Recurring financial charges | 65 | €14,338 | €7,720 | -€6,618 | -46.2% |
| Profit (loss) for the period before taxes | 9903 | €96,849 | €98,279 | +€1,430 | +1.5% |
| Income taxes | 67/77 | €32,789 | €33,753 | +€964 | +2.9% |
| Profit (loss) for the period | 9904 | €64,060 | €64,526 | +€466 | +0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €64,060 | €64,526 | +€466 | +0.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.