Schmutz: what changed
Two fiscal 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.
Schmutz
Largest movements
- Cash +€141,998
up €141,998 (+93.1%), from €152,534 to €294,532
mainly Net result for the year (+€96,510) and Receivables within one year (+€85,400)
- Receivables within one year -€85,400
down €85,400 (-17.9%), from €476,864 to €391,465
of which Trade receivables: -€74,040
- Reserves +€95,000
up €95,000 (+31.9%), from €298,155 to €393,155
of which Distributable reserves: +€95,000
- Trade debts -€66,240
down €66,240 (-51.2%), from €129,403 to €63,163
- Tax, wage and social debts +€22,711
up €22,711 (+36.7%), from €61,923 to €84,633
of which Taxes: +€26,900
- Staff costs +€584,014
up €584,014 (+24.3%), from €2.4m to €3.0m
- Turnover +€467,071
up €467,071 (+13.4%), from €3.5m to €3.9m
- Other operating income +€114,849
up €114,849 (+762.3%), from €15,066 to €129,915
- Services and other goods -€70,598
down €70,598 (-16.8%), from €420,315 to €349,717
- Goods and materials -€54,049
down €54,049 (-8.7%), from €619,407 to €565,357
of which Purchases: -€37,409
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.
Cash bridge derived
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 | €672,244 | €723,230 | +€50,985 | +7.6% |
| Fixed assets | 21/28 | €4,924 | €2,811 | -€2,113 | -42.9% |
| Tangible fixed assets | 22/27 | €4,453 | €2,340 | -€2,113 | -47.5% |
| Plant, machinery and equipment | 23 | €3,690 | €2,340 | -€1,350 | -36.6% |
| Furniture and vehicles | 24 | €763 | - | -€763 | |
| Financial fixed assets | 28 | €471 | €471 | = | 0.0% |
| Other financial fixed assets | 284/8 | €471 | €471 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €471 | €471 | = | 0.0% |
| Current assets | 29/58 | €667,320 | €720,419 | +€53,099 | +8.0% |
| Stocks and contracts in progress | 3 | €36,526 | €33,157 | -€3,369 | -9.2% |
| Stocks | 30/36 | €14,170 | €20,686 | +€6,516 | +46.0% |
| Raw materials and consumables | 30/31 | €14,170 | €20,686 | +€6,516 | +46.0% |
| Contracts in progress | 37 | €22,355 | €12,471 | -€9,884 | -44.2% |
| Amounts receivable within one year | 40/41 | €476,864 | €391,465 | -€85,400 | -17.9% |
| Trade receivables | 40 | €440,486 | €366,446 | -€74,040 | -16.8% |
| Other amounts receivable | 41 | €36,378 | €25,019 | -€11,359 | -31.2% |
| Cash at bank and in hand | 54/58 | €152,534 | €294,532 | +€141,998 | +93.1% |
| Deferred charges and accrued income | 490/1 | €1,396 | €1,265 | -€130 | -9.3% |
| Total equity and liabilities | 10/49 | €672,244 | €723,230 | +€50,985 | +7.6% |
| Equity | 10/15 | €475,919 | €572,429 | +€96,510 | +20.3% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Capital | 10 | €175,000 | €175,000 | = | 0.0% |
| Issued capital | 100 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €298,155 | €393,155 | +€95,000 | +31.9% |
| Non-distributable reserves | 130/1 | €17,500 | €17,500 | = | 0.0% |
| Legal reserve | 130 | €17,500 | €17,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €655 | €655 | = | 0.0% |
| Distributable reserves | 133 | €280,000 | €375,000 | +€95,000 | +33.9% |
| Profit (loss) carried forward | 14 | €2,763 | €4,273 | +€1,510 | +54.7% |
| Amounts payable | 17/49 | €196,326 | €150,801 | -€45,525 | -23.2% |
| Amounts payable within one year | 42/48 | €196,326 | €150,801 | -€45,525 | -23.2% |
| Financial debts | 43 | €5,000 | €3,005 | -€1,995 | -39.9% |
| Credit institutions | 430/8 | €5,000 | €3,005 | -€1,995 | -39.9% |
| Trade debts | 44 | €129,403 | €63,163 | -€66,240 | -51.2% |
| Suppliers | 440/4 | €129,403 | €63,163 | -€66,240 | -51.2% |
| Taxes, remuneration and social security | 45 | €61,923 | €84,633 | +€22,711 | +36.7% |
| Taxes | 450/3 | €3,402 | €30,302 | +€26,900 | +790.7% |
| Remuneration and social security | 454/9 | €58,521 | €54,331 | -€4,190 | -7.2% |
| Operating income | 70/76A | €3,510,132 | €4,072,502 | +€562,370 | +16.0% |
| Turnover | 70 | €3,480,401 | €3,947,472 | +€467,071 | +13.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €14,665 | -€9,884 | -€24,550 | |
| Other operating income | 74 | €15,066 | €129,915 | +€114,849 | +762.3% |
| Non-recurring operating income | 76A | - | €5,000 | +€5,000 | |
| Operating charges | 60/66A | €3,463,515 | €3,924,034 | +€460,519 | +13.3% |
| Goods for resale, raw materials and consumables | 60 | €619,407 | €565,357 | -€54,049 | -8.7% |
| Purchases | 600/8 | €609,282 | €571,873 | -€37,409 | -6.1% |
| Change in stocks: decrease (increase) | 609 | €10,125 | -€6,516 | -€16,641 | |
| Services and other goods | 61 | €420,315 | €349,717 | -€70,598 | -16.8% |
| Remuneration, social security and pensions | 62 | €2,403,804 | €2,987,818 | +€584,014 | +24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,779 | €2,113 | -€3,665 | -63.4% |
| Other operating charges | 640/8 | €13,537 | €13,899 | +€363 | +2.7% |
| Non-recurring operating charges | 66A | €674 | €5,129 | +€4,455 | +661.0% |
| Operating profit (loss) | 9901 | €46,617 | €148,469 | +€101,851 | +218.5% |
| Financial charges | 65/66B | €2,630 | €2,718 | +€89 | +3.4% |
| Recurring financial charges | 65 | €2,630 | €2,718 | +€89 | +3.4% |
| Debt charges | 650 | €470 | €279 | -€191 | -40.7% |
| Other financial charges | 652/9 | €2,160 | €2,439 | +€280 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | €43,988 | €145,751 | +€101,763 | +231.3% |
| Income taxes | 67/77 | €8,442 | €49,240 | +€40,798 | +483.3% |
| Taxes | 670/3 | €8,442 | €49,240 | +€40,798 | +483.3% |
| Profit (loss) for the period | 9904 | €35,546 | €96,510 | +€60,965 | +171.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,546 | €96,510 | +€60,965 | +171.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.