S.M.B. TECHNOLOGY: 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.
What changed
S.M.B. TECHNOLOGY
NACE 21.209, Manufacture of basic pharmaceutical products and pharmaceutical preparations
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.5m
2024 · €3.8m-€1.3m
Equity
€19.6m
2024 · €17.0m+€2.5m
Cash
€10.3m
2024 · €16.7m-€6.5m
Balance sheet total
€56.8m
2024 · €60.5m-€3.7m
Largest movements
Assets
- Cash -€6.5m
down €6.5m (-38.7%), from €16.7m to €10.3m
mainly Trade debts (-€5.6m) and Investment in fixed assets (net) (-€3.8m)
- Receivables within one year +€1.8m
up €1.8m (+7.1%), from €24.7m to €26.5m
of which Trade receivables: +€2.9m
- Tangible fixed assets +€1.0m
up €1.0m (+13.6%), from €7.5m to €8.5m
of which Plant, machinery and equipment: +€1.3m
Equity and liabilities
- Trade debts -€5.6m
down €5.6m (-13.8%), from €40.8m to €35.2m
- Profit (loss) carried forward +€1.5m
up €1.5m (+17.0%), from €8.9m to €10.4m
- Reserves +€999,875
up €999,875 (+17.8%), from €5.6m to €6.6m
of which Tax-exempt reserves: +€999,875
Income statement
- Turnover +€9.4m
up €9.4m (+11.1%), from €85.1m to €94.5m
- Goods and materials +€7.7m
up €7.7m (+12.1%), from €63.7m to €71.4m
- Services and other goods +€2.2m
up €2.2m (+23.5%), from €9.5m to €11.7m
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.
Result 2024
€3.8m
Turnover
+€9.4m
Other operating income
+€665,468
Goods and materials
-€7.7m
Services and other goods
-€2.2m
Staff costs
-€568,428
Depreciation
-€63,710
Other operating charges
-€3,169
Other operating items
-€309,838
Financial income
-€503,900
Financial charges
-€19,914
Taxes
+€12,139
Result 2025
€2.5m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€2.4m
Investment
-€4.1m
Financing
-€281
Cash 2024
€16.7m
From operations (derived)
-€2.4m
Net result for the year
+€2.5m
Depreciation
+€2.9m
Receivables within one year
-€1.8m
Deferred charges and accrued income
+€135,442
Trade debts
-€5.6m
Tax, wage and social debts
+€70,508
Advances received
-€393,401
Other debts
-€218,916
Accrued charges and deferred income
-€9,190
Investment (derived)
-€4.1m
Investment in fixed assets (net)
-€3.8m
Current investments
-€264,038
Financing
-€281
Short-term financial debts
-€281
Cash 2025
€10.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,501,932 | €56,849,584 | -€3.7m | -6.0% |
| Fixed assets | 21/28 | €9,128,399 | €10,059,818 | +€931,419 | +10.2% |
| Intangible fixed assets | 21 | €134,906 | €54,355 | -€80,551 | -59.7% |
| Tangible fixed assets | 22/27 | €7,451,965 | €8,463,935 | +€1.0m | +13.6% |
| Land and buildings | 22 | €1,528,121 | €1,278,197 | -€249,924 | -16.4% |
| Plant, machinery and equipment | 23 | €5,694,091 | €7,042,283 | +€1.3m | +23.7% |
| Furniture and vehicles | 24 | €197,253 | €143,455 | -€53,798 | -27.3% |
| Leasing and similar rights | 25 | €32,500 | €0 | -€32,500 | -100% |
| Financial fixed assets | 28 | €1,541,528 | €1,541,528 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €50,000 | €50,000 | = | 0.0% |
| Participating interests | 282 | €50,000 | €50,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,491,528 | €1,491,528 | = | 0.0% |
| Shares | 284 | €1,489,823 | €1,489,823 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,705 | €1,705 | = | 0.0% |
| Current assets | 29/58 | €51,373,533 | €46,789,766 | -€4.6m | -8.9% |
| Amounts receivable within one year | 40/41 | €24,746,120 | €26,498,048 | +€1.8m | +7.1% |
| Trade receivables | 40 | €21,690,996 | €24,610,999 | +€2.9m | +13.5% |
| Other amounts receivable | 41 | €3,055,124 | €1,887,049 | -€1.2m | -38.2% |
| Current investments | 50/53 | €9,641,594 | €9,905,632 | +€264,038 | +2.7% |
| Other investments | 51/53 | €9,641,594 | €9,905,632 | +€264,038 | +2.7% |
| Cash at bank and in hand | 54/58 | €16,720,835 | €10,256,544 | -€6.5m | -38.7% |
| Deferred charges and accrued income | 490/1 | €264,984 | €129,542 | -€135,442 | -51.1% |
| Total equity and liabilities | 10/49 | €60,501,932 | €56,849,584 | -€3.7m | -6.0% |
| Equity | 10/15 | €17,046,622 | €19,561,356 | +€2.5m | +14.8% |
| Contributions | 10/11 | €2,503,725 | €2,503,725 | = | 0.0% |
| Capital | 10 | €2,503,725 | €2,503,725 | = | 0.0% |
| Issued capital | 100 | €2,503,725 | €2,503,725 | = | 0.0% |
| Reserves | 13 | €5,613,698 | €6,613,573 | +€999,875 | +17.8% |
| Non-distributable reserves | 130/1 | €250,372 | €250,372 | = | 0.0% |
| Legal reserve | 130 | €250,372 | €250,372 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,004,047 | €3,003,922 | +€999,875 | +49.9% |
| Distributable reserves | 133 | €3,359,279 | €3,359,279 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,929,199 | €10,444,058 | +€1.5m | +17.0% |
| Amounts payable | 17/49 | €43,455,310 | €37,288,228 | -€6.2m | -14.2% |
| Amounts payable within one year | 42/48 | €43,435,474 | €37,277,582 | -€6.2m | -14.2% |
| Financial debts | 43 | €476 | €195 | -€281 | -59.0% |
| Credit institutions | 430/8 | €476 | €195 | -€281 | -59.0% |
| Trade debts | 44 | €40,824,150 | €35,208,348 | -€5.6m | -13.8% |
| Suppliers | 440/4 | €40,824,150 | €35,208,348 | -€5.6m | -13.8% |
| Advances received on contracts in progress | 46 | €691,044 | €297,643 | -€393,401 | -56.9% |
| Taxes, remuneration and social security | 45 | €1,692,225 | €1,762,733 | +€70,508 | +4.2% |
| Taxes | 450/3 | €635,861 | €691,396 | +€55,535 | +8.7% |
| Remuneration and social security | 454/9 | €1,056,364 | €1,071,337 | +€14,973 | +1.4% |
| Other amounts payable | 47/48 | €227,579 | €8,663 | -€218,916 | -96.2% |
| Accrued charges and deferred income | 492/3 | €19,836 | €10,646 | -€9,190 | -46.3% |
| Operating income | 70/76A | €88,617,399 | €98,440,355 | +€9.8m | +11.1% |
| Turnover | 70 | €85,098,045 | €94,515,569 | +€9.4m | +11.1% |
| Other operating income | 74 | €3,241,129 | €3,906,597 | +€665,468 | +20.5% |
| Non-recurring operating income | 76A | €278,225 | €18,189 | -€260,036 | -93.5% |
| Operating charges | 60/66A | €85,192,928 | €95,820,353 | +€10.6m | +12.5% |
| Goods for resale, raw materials and consumables | 60 | €63,734,246 | €71,449,882 | +€7.7m | +12.1% |
| Purchases | 600/8 | €63,734,246 | €71,449,882 | +€7.7m | +12.1% |
| Services and other goods | 61 | €9,464,477 | €11,691,157 | +€2.2m | +23.5% |
| Remuneration, social security and pensions | 62 | €9,025,491 | €9,593,919 | +€568,428 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,807,162 | €2,870,872 | +€63,710 | +2.3% |
| Other operating charges | 640/8 | €161,206 | €164,375 | +€3,169 | +2.0% |
| Non-recurring operating charges | 66A | €346 | €50,148 | +€49,802 | +14,394% |
| Operating profit (loss) | 9901 | €3,424,471 | €2,620,002 | -€804,469 | -23.5% |
| Financial income | 75/76B | €1,591,584 | €1,087,684 | -€503,900 | -31.7% |
| Recurring financial income | 75 | €1,591,584 | €1,087,684 | -€503,900 | -31.7% |
| Income from financial fixed assets | 750 | €775,099 | - | -€775,099 | |
| Income from current assets | 751 | €810,812 | €1,069,582 | +€258,770 | +31.9% |
| Other financial income | 752/9 | €5,673 | €18,102 | +€12,429 | +219% |
| Financial charges | 65/66B | €69,978 | €89,892 | +€19,914 | +28.5% |
| Recurring financial charges | 65 | €69,978 | €89,892 | +€19,914 | +28.5% |
| Debt charges | 650 | - | €298 | +€298 | |
| Other financial charges | 652/9 | €69,978 | €89,594 | +€19,616 | +28.0% |
| Profit (loss) for the period before taxes | 9903 | €4,946,077 | €3,617,794 | -€1.3m | -26.9% |
| Income taxes | 67/77 | €1,115,199 | €1,103,060 | -€12,139 | -1.1% |
| Taxes | 670/3 | €1,115,199 | €1,103,060 | -€12,139 | -1.1% |
| Profit (loss) for the period | 9904 | €3,830,878 | €2,514,734 | -€1.3m | -34.4% |
| Transfer to tax-exempt reserves | 689 | €999,997 | €999,875 | -€122 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,830,881 | €1,514,859 | -€1.3m | -46.5% |
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 23 October 2026 via checked.be.