M. SMETS FORMATIONS & SERVICES: 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.
M. SMETS FORMATIONS & SERVICES
Largest movements
- Tangible fixed assets -€14,813
down €14,813 (-37.7%), from €39,336 to €24,523
of which Furniture and vehicles: -€15,603
- Cash +€11,442
up €11,442 (+88.3%), from €12,957 to €24,398
mainly Depreciation (+€9,109) and Investment in fixed assets (net) (+€5,704)
- Receivables within one year -€4,376
no longer reported in 2025 (was €4,376)
- Current portion of long-term debt -€4,492
no longer reported in 2025 (was €4,492)
- Debts after one year -€3,249
no longer reported in 2025 (was €3,249)
- Tax, wage and social debts -€935
down €935 (-31.9%), from €2,934 to €1,999
- Other debts +€607
up €607 (+3.2%), from €18,806 to €19,413
- Gross operating margin -€3,175
down €3,175 (-23.0%), from €13,779 to €10,604
- Depreciation -€2,791
down €2,791 (-23.5%), from €11,899 to €9,109
- Taxes -€488
down €488 (-73.5%), from €664 to €176
- Financial charges +€208
up €208 (+42.0%), from €495 to €703
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 | €57,802 | €50,006 | -€7,796 | -13.5% |
| Fixed assets | 21/28 | €39,336 | €24,523 | -€14,813 | -37.7% |
| Tangible fixed assets | 22/27 | €39,336 | €24,523 | -€14,813 | -37.7% |
| Land and buildings | 22 | €2,610 | €1,476 | -€1,134 | -43.4% |
| Plant, machinery and equipment | 23 | €1,763 | €3,687 | +€1,924 | +109% |
| Furniture and vehicles | 24 | €34,963 | €19,360 | -€15,603 | -44.6% |
| Current assets | 29/58 | €18,466 | €25,482 | +€7,016 | +38.0% |
| Amounts receivable within one year | 40/41 | €4,376 | - | -€4,376 | |
| Trade receivables | 40 | €4,376 | - | -€4,376 | |
| Cash at bank and in hand | 54/58 | €12,957 | €24,398 | +€11,442 | +88.3% |
| Deferred charges and accrued income | 490/1 | €1,133 | €1,084 | -€49 | -4.4% |
| Total equity and liabilities | 10/49 | €57,802 | €50,006 | -€7,796 | -13.5% |
| Equity | 10/15 | €26,442 | €26,643 | +€201 | +0.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €16,442 | €16,643 | +€201 | +1.2% |
| Distributable reserves | 133 | €16,442 | €16,643 | +€201 | +1.2% |
| Amounts payable | 17/49 | €31,360 | €23,363 | -€7,997 | -25.5% |
| Amounts payable after more than one year | 17 | €3,249 | - | -€3,249 | |
| Financial debts | 170/4 | €3,249 | - | -€3,249 | |
| Amounts payable within one year | 42/48 | €28,111 | €23,363 | -€4,748 | -16.9% |
| Current portion of amounts payable after more than one year | 42 | €4,492 | - | -€4,492 | |
| Trade debts | 44 | €1,878 | €1,950 | +€72 | +3.8% |
| Suppliers | 440/4 | €1,878 | €1,950 | +€72 | +3.8% |
| Taxes, remuneration and social security | 45 | €2,934 | €1,999 | -€935 | -31.9% |
| Taxes | 450/3 | €2,934 | €1,999 | -€935 | -31.9% |
| Other amounts payable | 47/48 | €18,806 | €19,413 | +€607 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,899 | €9,109 | -€2,791 | -23.5% |
| Other operating charges | 640/8 | €363 | €416 | +€53 | +14.5% |
| Non-recurring operating charges | 66A | €40 | - | -€40 | |
| Gross operating margin | 9900 | €13,779 | €10,604 | -€3,175 | -23.0% |
| Operating profit (loss) | 9901 | €1,476 | €1,080 | -€397 | -26.9% |
| Financial charges | 65/66B | €495 | €703 | +€208 | +42.0% |
| Recurring financial charges | 65 | €495 | €703 | +€208 | +42.0% |
| Profit (loss) for the period before taxes | 9903 | €981 | €377 | -€605 | -61.6% |
| Income taxes | 67/77 | €664 | €176 | -€488 | -73.5% |
| Profit (loss) for the period | 9904 | €317 | €201 | -€117 | -36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €317 | €201 | -€117 | -36.8% |
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 25 October 2026 via checked.be.