RS 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.
RS SMETS
Largest movements
- Receivables within one year +€7,230
up €7,230 (+21.1%), from €34,250 to €41,480
of which Other amounts receivable: +€8,381
- Deferred charges and accrued income -€6,009
down €6,009 (-44.7%), from €13,448 to €7,439
- Tangible fixed assets -€1,194
down €1,194 (-20.6%), from €5,786 to €4,591
of which Furniture and vehicles: -€853
- Tax, wage and social debts -€15,880
down €15,880 (-56.8%), from €27,959 to €12,079
of which Remuneration and social security: -€14,063
- Other debts +€10,292
up €10,292 (+58.8%), from €17,500 to €27,792
- Short-term financial debts +€5,460
up €5,460 (+432%), from €1,263 to €6,723
- Profit (loss) carried forward +€4,489
up €4,489 (+11.0%), from -€40,731 to -€36,242
- Trade debts -€4,177
down €4,177 (-16.6%), from €25,118 to €20,941
- Gross operating margin +€35,846
up €35,846 (+95.9%), from €37,379 to €73,225
- Write-downs -€2,260
no longer reported in 2025 (was €2,260)
- Financial charges -€1,928
down €1,928 (-41.6%), from €4,639 to €2,711
- Other operating charges +€1,015
up €1,015 (+78.5%), from €1,292 to €2,307
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €54,184 | €54,367 | +€183 | +0.3% |
| Fixed assets | 21/28 | €6,486 | €5,448 | -€1,038 | -16.0% |
| Tangible fixed assets | 22/27 | €5,786 | €4,591 | -€1,194 | -20.6% |
| Plant, machinery and equipment | 23 | €3,730 | €3,389 | -€342 | -9.2% |
| Furniture and vehicles | 24 | €2,055 | €1,203 | -€853 | -41.5% |
| Financial fixed assets | 28 | €700 | €856 | +€156 | +22.3% |
| Current assets | 29/58 | €47,698 | €48,919 | +€1,221 | +2.6% |
| Amounts receivable within one year | 40/41 | €34,250 | €41,480 | +€7,230 | +21.1% |
| Trade receivables | 40 | €27,905 | €26,754 | -€1,152 | -4.1% |
| Other amounts receivable | 41 | €6,345 | €14,726 | +€8,381 | +132% |
| Deferred charges and accrued income | 490/1 | €13,448 | €7,439 | -€6,009 | -44.7% |
| Total equity and liabilities | 10/49 | €54,184 | €54,367 | +€183 | +0.3% |
| Equity | 10/15 | -€17,657 | -€13,168 | +€4,489 | +25.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,474 | €4,474 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,614 | €2,614 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,731 | -€36,242 | +€4,489 | +11.0% |
| Amounts payable | 17/49 | €71,841 | €67,535 | -€4,306 | -6.0% |
| Amounts payable within one year | 42/48 | €71,841 | €67,535 | -€4,306 | -6.0% |
| Financial debts | 43 | €1,263 | €6,723 | +€5,460 | +432% |
| Credit institutions | 430/8 | €1,263 | €6,723 | +€5,460 | +432% |
| Trade debts | 44 | €25,118 | €20,941 | -€4,177 | -16.6% |
| Suppliers | 440/4 | €25,118 | €20,941 | -€4,177 | -16.6% |
| Taxes, remuneration and social security | 45 | €27,959 | €12,079 | -€15,880 | -56.8% |
| Taxes | 450/3 | €3,452 | €1,636 | -€1,817 | -52.6% |
| Remuneration and social security | 454/9 | €24,507 | €10,444 | -€14,063 | -57.4% |
| Other amounts payable | 47/48 | €17,500 | €27,792 | +€10,292 | +58.8% |
| Remuneration, social security and pensions | 62 | €62,626 | €61,917 | -€709 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,248 | €2,268 | +€20 | +0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,260 | - | -€2,260 | |
| Other operating charges | 640/8 | €1,292 | €2,307 | +€1,015 | +78.5% |
| Gross operating margin | 9900 | €37,379 | €73,225 | +€35,846 | +95.9% |
| Operating profit (loss) | 9901 | -€31,047 | €6,733 | +€37,780 | |
| Financial income | 75/76B | €4 | €467 | +€463 | +11,995% |
| Recurring financial income | 75 | €4 | €467 | +€463 | +11,995% |
| Financial charges | 65/66B | €4,639 | €2,711 | -€1,928 | -41.6% |
| Recurring financial charges | 65 | €4,639 | €2,711 | -€1,928 | -41.6% |
| Profit (loss) for the period before taxes | 9903 | -€35,683 | €4,489 | +€40,171 | |
| Profit (loss) for the period | 9904 | -€35,683 | €4,489 | +€40,171 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,683 | €4,489 | +€40,171 |
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 17 October 2026 via checked.be.