S.M. TRAVAUX: what changed
S.M. TRAVAUX
Largest movements
- Cash +€31,496
up €31,496 (+44.9%), from €70,202 to €101,698
mainly Depreciation (+€70,359) and Net result for the year (+€47,533)
- Tangible fixed assets -€23,066
down €23,066 (-7.7%), from €297,983 to €274,918
of which Furniture and vehicles: -€43,579
- Reserves +€50,000
up €50,000 (+50.0%), from €100,000 to €150,000
- Debts after one year -€32,879
down €32,879 (-30.0%), from €109,426 to €76,547
- Trade debts +€30,279
up €30,279 (+117%), from €25,932 to €56,211
- Other debts -€23,275
down €23,275 (-42.8%), from €54,424 to €31,150
- Tax, wage and social debts -€19,284
down €19,284 (-53.7%), from €35,883 to €16,599
of which Taxes: -€17,046
- Depreciation +€48,772
up €48,772 (+226%), from €21,587 to €70,359
- Gross operating margin -€16,702
down €16,702 (-10.1%), from €165,081 to €148,379
- Taxes -€16,639
down €16,639 (-60.5%), from €27,515 to €10,876
- Financial charges +€4,323
up €4,323 (+282%), from €1,535 to €5,858
- Staff costs +€1,789
up €1,789 (+16.0%), from €11,168 to €12,957
Change in the result, 2024 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
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €398,008 | €409,159 | +€11,150 | +2.8% |
| Fixed assets | 21/28 | €297,983 | €274,918 | -€23,066 | -7.7% |
| Tangible fixed assets | 22/27 | €297,983 | €274,918 | -€23,066 | -7.7% |
| Plant, machinery and equipment | 23 | €24,804 | €20,724 | -€4,080 | -16.4% |
| Furniture and vehicles | 24 | €227,658 | €184,079 | -€43,579 | -19.1% |
| Leasing and similar rights | 25 | €45,522 | €70,115 | +€24,593 | +54.0% |
| Current assets | 29/58 | €100,025 | €134,241 | +€34,216 | +34.2% |
| Amounts receivable within one year | 40/41 | €29,216 | €30,534 | +€1,318 | +4.5% |
| Trade receivables | 40 | €11,303 | €18,199 | +€6,896 | +61.0% |
| Other amounts receivable | 41 | €17,913 | €12,335 | -€5,578 | -31.1% |
| Cash at bank and in hand | 54/58 | €70,202 | €101,698 | +€31,496 | +44.9% |
| Deferred charges and accrued income | 490/1 | €607 | €2,009 | +€1,402 | +231% |
| Total equity and liabilities | 10/49 | €398,008 | €409,159 | +€11,150 | +2.8% |
| Equity | 10/15 | €127,543 | €175,077 | +€47,533 | +37.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €100,000 | €150,000 | +€50,000 | +50.0% |
| Distributable reserves | 133 | €100,000 | €150,000 | +€50,000 | +50.0% |
| Profit (loss) carried forward | 14 | €2,543 | €77 | -€2,467 | -97.0% |
| Amounts payable | 17/49 | €270,465 | €234,082 | -€36,383 | -13.5% |
| Amounts payable after more than one year | 17 | €109,426 | €76,547 | -€32,879 | -30.0% |
| Financial debts | 170/4 | €109,426 | €76,547 | -€32,879 | -30.0% |
| Amounts payable within one year | 42/48 | €161,039 | €156,755 | -€4,284 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €44,800 | €52,795 | +€7,996 | +17.8% |
| Trade debts | 44 | €25,932 | €56,211 | +€30,279 | +117% |
| Suppliers | 440/4 | €25,932 | €56,211 | +€30,279 | +117% |
| Taxes, remuneration and social security | 45 | €35,883 | €16,599 | -€19,284 | -53.7% |
| Taxes | 450/3 | €29,422 | €12,376 | -€17,046 | -57.9% |
| Remuneration and social security | 454/9 | €6,461 | €4,223 | -€2,238 | -34.6% |
| Other amounts payable | 47/48 | €54,424 | €31,150 | -€23,275 | -42.8% |
| Accrued charges and deferred income | 492/3 | - | €780 | +€780 | |
| Remuneration, social security and pensions | 62 | €11,168 | €12,957 | +€1,789 | +16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,587 | €70,359 | +€48,772 | +226% |
| Other operating charges | 640/8 | €732 | €795 | +€63 | +8.6% |
| Gross operating margin | 9900 | €165,081 | €148,379 | -€16,702 | -10.1% |
| Operating profit (loss) | 9901 | €131,594 | €64,268 | -€67,326 | -51.2% |
| Financial charges | 65/66B | €1,535 | €5,858 | +€4,323 | +282% |
| Recurring financial charges | 65 | €1,535 | €5,858 | +€4,323 | +282% |
| Profit (loss) for the period before taxes | 9903 | €130,059 | €58,409 | -€71,649 | -55.1% |
| Income taxes | 67/77 | €27,515 | €10,876 | -€16,639 | -60.5% |
| Profit (loss) for the period | 9904 | €102,543 | €47,533 | -€55,010 | -53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €102,543 | €47,533 | -€55,010 | -53.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.