F. SMITS MANAGEMENT: what changed
F. SMITS MANAGEMENT
Largest movements
- Tangible fixed assets -€28,680
down €28,680 (-12.3%), from €232,892 to €204,211
of which Furniture and vehicles: -€18,783
- Cash +€25,191
up €25,191 (+61.7%), from €40,809 to €66,000
- Current investments +€8,564
up €8,564 (+4.9%), from €174,196 to €182,760
- Profit (loss) carried forward +€35,336
up €35,336 (+195%), from €18,103 to €53,440
- Trade debts -€15,463
down €15,463 (-90.1%), from €17,154 to €1,691
- Other debts -€11,060
down €11,060 (-86.9%), from €12,726 to €1,665
- Tax, wage and social debts -€6,877
down €6,877 (-41.0%), from €16,771 to €9,894
- Financial income +€23,564
up €23,564 (+284%), from €8,283 to €31,847
- Depreciation +€16,416
up €16,416 (+105%), from €15,700 to €32,117
- Financial charges -€7,818
down €7,818 (-38.4%), from €20,355 to €12,537
- Taxes -€5,195
down €5,195 (-34.7%), from €14,960 to €9,765
- Other operating charges +€2,379
up €2,379 (+82.1%), from €2,896 to €5,275
Change in the result, 2023 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
A cash bridge needs two consecutive financial years. One year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €461,049 | €462,985 | +€1,936 | +0.4% |
| Fixed assets | 21/28 | €232,892 | €204,211 | -€28,680 | -12.3% |
| Tangible fixed assets | 22/27 | €232,892 | €204,211 | -€28,680 | -12.3% |
| Land and buildings | 22 | €184,371 | €173,462 | -€10,909 | -5.9% |
| Plant, machinery and equipment | 23 | €1,744 | €2,755 | +€1,012 | +58.0% |
| Furniture and vehicles | 24 | €46,778 | €27,995 | -€18,783 | -40.2% |
| Current assets | 29/58 | €228,158 | €258,774 | +€30,616 | +13.4% |
| Amounts receivable within one year | 40/41 | €13,153 | €8,931 | -€4,221 | -32.1% |
| Trade receivables | 40 | €13,153 | €2,297 | -€10,855 | -82.5% |
| Other amounts receivable | 41 | - | €6,634 | +€6,634 | |
| Current investments | 50/53 | €174,196 | €182,760 | +€8,564 | +4.9% |
| Cash at bank and in hand | 54/58 | €40,809 | €66,000 | +€25,191 | +61.7% |
| Deferred charges and accrued income | 490/1 | - | €1,082 | +€1,082 | |
| Total equity and liabilities | 10/49 | €461,049 | €462,985 | +€1,936 | +0.4% |
| Equity | 10/15 | €414,399 | €449,735 | +€35,336 | +8.5% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €375,845 | €375,845 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,005 | €14,005 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,005 | €14,005 | = | 0.0% |
| Distributable reserves | 133 | €361,839 | €361,839 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,103 | €53,440 | +€35,336 | +195% |
| Amounts payable | 17/49 | €46,650 | €13,250 | -€33,401 | -71.6% |
| Amounts payable within one year | 42/48 | €46,650 | €13,250 | -€33,401 | -71.6% |
| Trade debts | 44 | €17,154 | €1,691 | -€15,463 | -90.1% |
| Suppliers | 440/4 | €17,154 | €1,691 | -€15,463 | -90.1% |
| Taxes, remuneration and social security | 45 | €16,771 | €9,894 | -€6,877 | -41.0% |
| Taxes | 450/3 | €16,771 | €9,894 | -€6,877 | -41.0% |
| Other amounts payable | 47/48 | €12,726 | €1,665 | -€11,060 | -86.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,700 | €32,117 | +€16,416 | +105% |
| Other operating charges | 640/8 | €2,896 | €5,275 | +€2,379 | +82.1% |
| Gross operating margin | 9900 | €63,733 | €63,183 | -€550 | -0.9% |
| Operating profit (loss) | 9901 | €45,136 | €25,791 | -€19,345 | -42.9% |
| Financial income | 75/76B | €8,283 | €31,847 | +€23,564 | +284% |
| Recurring financial income | 75 | €8,283 | €31,847 | +€23,564 | +284% |
| Financial charges | 65/66B | €20,355 | €12,537 | -€7,818 | -38.4% |
| Recurring financial charges | 65 | €20,355 | €12,537 | -€7,818 | -38.4% |
| Profit (loss) for the period before taxes | 9903 | €33,064 | €45,102 | +€12,038 | +36.4% |
| Income taxes | 67/77 | €14,960 | €9,765 | -€5,195 | -34.7% |
| Profit (loss) for the period | 9904 | €18,103 | €35,336 | +€17,233 | +95.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,103 | €35,336 | +€17,233 | +95.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.