Ets SMETS Christian: what changed
Ets SMETS Christian
Largest movements
- Financial fixed assets +€197,500
up €197,500 (+67,257%), from €294 to €197,794
- Receivables within one year +€72,916
up €72,916 (+146%), from €50,027 to €122,943
of which Trade receivables: +€65,350
- Tangible fixed assets +€22,639
up €22,639 (+18.8%), from €120,256 to €142,896
of which Other tangible fixed assets: +€19,575
- Cash -€16,873
down €16,873 (-15.2%), from €110,733 to €93,860
mainly Investment in fixed assets (net) (-€270,550) and Receivables within one year (-€72,916)
- Stocks and contracts -€11,836
down €11,836 (-48.6%), from €24,336 to €12,500
of which Contracts in progress: -€24,336
- Debts after one year +€144,299
up €144,299 (+2,155%), from €6,696 to €150,995
- Trade debts +€85,917
up €85,917 (+2,810%), from €3,058 to €88,975
- Reserves +€50,840
up €50,840 (+25.0%), from €203,280 to €254,120
- Tax, wage and social debts -€13,613
down €13,613 (-69.3%), from €19,638 to €6,025
of which Taxes: -€18,038
- Gross operating margin +€66,255
up €66,255 (+32.2%), from €205,806 to €272,060
- Staff costs +€55,862
up €55,862 (+62.1%), from €89,898 to €145,760
- Financial charges +€3,238
up €3,238 (+80.1%), from €4,043 to €7,280
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €312,128 | €578,893 | +€266,765 | +85.5% |
| Fixed assets | 21/28 | €120,550 | €340,689 | +€220,139 | +183% |
| Tangible fixed assets | 22/27 | €120,256 | €142,896 | +€22,639 | +18.8% |
| Plant, machinery and equipment | 23 | €35,961 | €46,411 | +€10,451 | +29.1% |
| Furniture and vehicles | 24 | €72,026 | €73,459 | +€1,434 | +2.0% |
| Leasing and similar rights | 25 | €8,820 | €0 | -€8,820 | -100% |
| Other tangible fixed assets | 26 | €3,450 | €23,025 | +€19,575 | +567% |
| Financial fixed assets | 28 | €294 | €197,794 | +€197,500 | +67,257% |
| Current assets | 29/58 | €191,578 | €238,204 | +€46,626 | +24.3% |
| Stocks and contracts in progress | 3 | €24,336 | €12,500 | -€11,836 | -48.6% |
| Stocks | 30/36 | - | €12,500 | +€12,500 | |
| Contracts in progress | 37 | €24,336 | €0 | -€24,336 | -100% |
| Amounts receivable within one year | 40/41 | €50,027 | €122,943 | +€72,916 | +146% |
| Trade receivables | 40 | €7,252 | €72,603 | +€65,350 | +901% |
| Other amounts receivable | 41 | €42,774 | €50,340 | +€7,566 | +17.7% |
| Cash at bank and in hand | 54/58 | €110,733 | €93,860 | -€16,873 | -15.2% |
| Deferred charges and accrued income | 490/1 | €6,482 | €8,900 | +€2,418 | +37.3% |
| Total equity and liabilities | 10/49 | €312,128 | €578,893 | +€266,765 | +85.5% |
| Equity | 10/15 | €251,336 | €302,180 | +€50,844 | +20.2% |
| Contributions | 10/11 | €26,029 | €26,029 | = | 0.0% |
| Reserves | 13 | €203,280 | €254,120 | +€50,840 | +25.0% |
| Distributable reserves | 133 | €203,280 | €254,120 | +€50,840 | +25.0% |
| Profit (loss) carried forward | 14 | €22,027 | €22,031 | +€4 | 0.0% |
| Amounts payable | 17/49 | €60,793 | €276,713 | +€215,920 | +355% |
| Amounts payable after more than one year | 17 | €6,696 | €150,995 | +€144,299 | +2,155% |
| Financial debts | 170/4 | €6,696 | €150,995 | +€144,299 | +2,155% |
| Amounts payable within one year | 42/48 | €54,097 | €125,718 | +€71,621 | +132% |
| Current portion of amounts payable after more than one year | 42 | €31,345 | €30,717 | -€627 | -2.0% |
| Trade debts | 44 | €3,058 | €88,975 | +€85,917 | +2,810% |
| Suppliers | 440/4 | €3,058 | €88,975 | +€85,917 | +2,810% |
| Taxes, remuneration and social security | 45 | €19,638 | €6,025 | -€13,613 | -69.3% |
| Taxes | 450/3 | €18,038 | €0 | -€18,038 | -100% |
| Remuneration and social security | 454/9 | €1,601 | €6,025 | +€4,425 | +276% |
| Other amounts payable | 47/48 | €56 | €0 | -€56 | -100% |
| Remuneration, social security and pensions | 62 | €89,898 | €145,760 | +€55,862 | +62.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,647 | €50,411 | +€764 | +1.5% |
| Other operating charges | 640/8 | €1,151 | €1,703 | +€552 | +47.9% |
| Non-recurring operating charges | 66A | €660 | €30 | -€630 | -95.5% |
| Gross operating margin | 9900 | €205,806 | €272,060 | +€66,255 | +32.2% |
| Operating profit (loss) | 9901 | €64,450 | €74,157 | +€9,707 | +15.1% |
| Financial income | 75/76B | €702 | €535 | -€167 | -23.7% |
| Recurring financial income | 75 | €702 | €535 | -€167 | -23.7% |
| Financial charges | 65/66B | €4,043 | €7,280 | +€3,238 | +80.1% |
| Recurring financial charges | 65 | €4,043 | €7,280 | +€3,238 | +80.1% |
| Profit (loss) for the period before taxes | 9903 | €61,108 | €67,412 | +€6,303 | +10.3% |
| Income taxes | 67/77 | €16,866 | €16,567 | -€299 | -1.8% |
| Profit (loss) for the period | 9904 | €44,242 | €50,844 | +€6,602 | +14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €44,242 | €50,844 | +€6,602 | +14.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.