LADDERMAKERIJ SMITS: 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.
LADDERMAKERIJ SMITS
Largest movements
- Receivables after one year +€70,919
up €70,919 (+23.1%), from €306,574 to €377,493
- Tangible fixed assets +€65,677
up €65,677 (+88.3%), from €74,345 to €140,022
of which Plant, machinery and equipment: +€75,740
- Receivables within one year -€53,953
down €53,953 (-19.9%), from €271,358 to €217,405
of which Trade receivables: -€37,614
- Cash -€49,919
down €49,919 (-74.6%), from €66,906 to €16,987
mainly Investment in fixed assets (net) (-€98,768) and Receivables after one year (-€70,919)
- Stocks and contracts +€48,667
up €48,667 (+43.7%), from €111,320 to €159,987
- Debts after one year +€59,073
up €59,073 (+37.3%), from €158,264 to €217,337
- Tax, wage and social debts -€22,173
down €22,173 (-68.5%), from €32,383 to €10,209
of which Taxes: -€16,395
- Reserves +€20,208
up €20,208 (+6.2%), from €326,192 to €346,400
of which Distributable reserves: +€20,208
- Current portion of long-term debt +€12,718
up €12,718 (+116%), from €10,962 to €23,680
- Short-term financial debts +€10,000
new in 2025: €10,000
- Gross operating margin -€75,226
down €75,226 (-48.6%), from €154,780 to €79,554
- Staff costs -€46,964
down €46,964 (-91.6%), from €51,265 to €4,301
- Depreciation +€5,783
up €5,783 (+20.7%), from €27,992 to €33,775
- Other operating charges +€2,952
up €2,952 (+68.7%), from €4,299 to €7,251
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 | €834,263 | €912,030 | +€77,767 | +9.3% |
| Fixed assets | 21/28 | €75,135 | €140,128 | +€64,993 | +86.5% |
| Intangible fixed assets | 21 | €790 | €106 | -€683 | -86.5% |
| Tangible fixed assets | 22/27 | €74,345 | €140,022 | +€65,677 | +88.3% |
| Plant, machinery and equipment | 23 | €61,029 | €136,769 | +€75,740 | +124% |
| Furniture and vehicles | 24 | €2,379 | €868 | -€1,511 | -63.5% |
| Leasing and similar rights | 25 | €10,937 | €2,384 | -€8,553 | -78.2% |
| Current assets | 29/58 | €759,128 | €771,902 | +€12,774 | +1.7% |
| Amounts receivable after more than one year | 29 | €306,574 | €377,493 | +€70,919 | +23.1% |
| Other amounts receivable | 291 | €306,574 | €377,493 | +€70,919 | +23.1% |
| Stocks and contracts in progress | 3 | €111,320 | €159,987 | +€48,667 | +43.7% |
| Stocks | 30/36 | €111,320 | €159,987 | +€48,667 | +43.7% |
| Amounts receivable within one year | 40/41 | €271,358 | €217,405 | -€53,953 | -19.9% |
| Trade receivables | 40 | €231,160 | €193,546 | -€37,614 | -16.3% |
| Other amounts receivable | 41 | €40,198 | €23,859 | -€16,339 | -40.6% |
| Cash at bank and in hand | 54/58 | €66,906 | €16,987 | -€49,919 | -74.6% |
| Deferred charges and accrued income | 490/1 | €2,970 | €30 | -€2,940 | -99.0% |
| Total equity and liabilities | 10/49 | €834,263 | €912,030 | +€77,767 | +9.3% |
| Equity | 10/15 | €357,427 | €377,634 | +€20,208 | +5.7% |
| Contributions | 10/11 | €31,235 | €31,235 | = | 0.0% |
| Reserves | 13 | €326,192 | €346,400 | +€20,208 | +6.2% |
| Tax-exempt reserves | 132 | €4,769 | €4,769 | = | 0.0% |
| Distributable reserves | 133 | €321,423 | €341,630 | +€20,208 | +6.3% |
| Amounts payable | 17/49 | €476,836 | €534,396 | +€57,559 | +12.1% |
| Amounts payable after more than one year | 17 | €158,264 | €217,337 | +€59,073 | +37.3% |
| Financial debts | 170/4 | €158,264 | €217,337 | +€59,073 | +37.3% |
| Amounts payable within one year | 42/48 | €290,745 | €289,231 | -€1,514 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €10,962 | €23,680 | +€12,718 | +116% |
| Financial debts | 43 | - | €10,000 | +€10,000 | |
| Credit institutions | 430/8 | - | €10,000 | +€10,000 | |
| Trade debts | 44 | €158,061 | €164,092 | +€6,031 | +3.8% |
| Suppliers | 440/4 | €158,061 | €164,092 | +€6,031 | +3.8% |
| Advances received on contracts in progress | 46 | - | €1,160 | +€1,160 | |
| Taxes, remuneration and social security | 45 | €32,383 | €10,209 | -€22,173 | -68.5% |
| Taxes | 450/3 | €26,470 | €10,076 | -€16,395 | -61.9% |
| Remuneration and social security | 454/9 | €5,912 | €134 | -€5,778 | -97.7% |
| Other amounts payable | 47/48 | €89,339 | €80,089 | -€9,250 | -10.4% |
| Accrued charges and deferred income | 492/3 | €27,827 | €27,827 | = | 0.0% |
| Non-recurring operating income | 76A | €788 | €85 | -€703 | -89.3% |
| Remuneration, social security and pensions | 62 | €51,265 | €4,301 | -€46,964 | -91.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,992 | €33,775 | +€5,783 | +20.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €4,299 | €7,251 | +€2,952 | +68.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €154,780 | €79,554 | -€75,226 | -48.6% |
| Operating profit (loss) | 9901 | €71,224 | €34,228 | -€36,996 | -51.9% |
| Financial income | 75/76B | €188 | €844 | +€657 | +350% |
| Recurring financial income | 75 | €188 | €844 | +€657 | +350% |
| Financial charges | 65/66B | €4,760 | €6,157 | +€1,398 | +29.4% |
| Recurring financial charges | 65 | €4,760 | €6,157 | +€1,398 | +29.4% |
| Profit (loss) for the period before taxes | 9903 | €66,651 | €28,915 | -€37,737 | -56.6% |
| Income taxes | 67/77 | €9,351 | €8,707 | -€644 | -6.9% |
| Profit (loss) for the period | 9904 | €57,301 | €20,208 | -€37,093 | -64.7% |
| Profit (loss) for the period to be appropriated | 9905 | €57,301 | €20,208 | -€37,093 | -64.7% |
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 22 October 2026 via checked.be.