SM BATIMENT: 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.
SM BATIMENT
Largest movements
- Receivables within one year +€29,201
up €29,201 (+8.0%), from €365,602 to €394,803
of which Other amounts receivable: +€40,089
- Tangible fixed assets -€15,735
down €15,735 (-10.4%), from €151,273 to €135,538
- Cash -€9,883
no longer reported in 2025 (was €9,883)
mainly Contributions, distributions and other (-€50,000) and Trade debts (-€31,070)
- Trade debts -€31,070
down €31,070 (-25.0%), from €124,190 to €93,120
- Other debts +€28,134
up €28,134 (+128.7%), from €21,866 to €50,000
- Debts after one year -€17,640
down €17,640 (-18.7%), from €94,151 to €76,511
- Short-term financial debts +€15,801
new in 2025: €15,801
- Tax, wage and social debts +€14,480
up €14,480 (+32.2%), from €44,938 to €59,418
of which Remuneration and social security: +€21,148
- Gross operating margin +€251,557
up €251,557 (+72.9%), from €344,950 to €596,507
- Staff costs +€171,643
up €171,643 (+56.6%), from €303,172 to €474,815
- Depreciation +€10,965
up €10,965 (+51.8%), from €21,170 to €32,135
- Write-downs +€10,910
new in 2025: €10,910
- Taxes +€7,225
up €7,225 (+62.1%), from €11,639 to €18,864
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 | €530,668 | €530,341 | -€326 | -0.1% |
| Fixed assets | 21/28 | €151,273 | €135,538 | -€15,735 | -10.4% |
| Tangible fixed assets | 22/27 | €151,273 | €135,538 | -€15,735 | -10.4% |
| Land and buildings | 22 | €91,423 | €87,193 | -€4,230 | -4.6% |
| Plant, machinery and equipment | 23 | €10,550 | €4,717 | -€5,833 | -55.3% |
| Furniture and vehicles | 24 | €49,301 | €43,629 | -€5,672 | -11.5% |
| Current assets | 29/58 | €379,394 | €394,803 | +€15,409 | +4.1% |
| Amounts receivable within one year | 40/41 | €365,602 | €394,803 | +€29,201 | +8.0% |
| Trade receivables | 40 | €249,860 | €238,972 | -€10,888 | -4.4% |
| Other amounts receivable | 41 | €115,742 | €155,831 | +€40,089 | +34.6% |
| Cash at bank and in hand | 54/58 | €9,883 | - | -€9,883 | |
| Deferred charges and accrued income | 490/1 | €3,909 | - | -€3,909 | |
| Total equity and liabilities | 10/49 | €530,668 | €530,341 | -€326 | -0.1% |
| Equity | 10/15 | €225,444 | €216,209 | -€9,236 | -4.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €204,984 | €195,749 | -€9,236 | -4.5% |
| Amounts payable | 17/49 | €305,223 | €314,133 | +€8,909 | +2.9% |
| Amounts payable after more than one year | 17 | €94,151 | €76,511 | -€17,640 | -18.7% |
| Financial debts | 170/4 | €94,151 | €76,511 | -€17,640 | -18.7% |
| Amounts payable within one year | 42/48 | €211,072 | €237,621 | +€26,549 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €20,078 | €19,283 | -€796 | -4.0% |
| Financial debts | 43 | - | €15,801 | +€15,801 | |
| Credit institutions | 430/8 | - | €15,801 | +€15,801 | |
| Trade debts | 44 | €124,190 | €93,120 | -€31,070 | -25.0% |
| Suppliers | 440/4 | €124,190 | €93,120 | -€31,070 | -25.0% |
| Taxes, remuneration and social security | 45 | €44,938 | €59,418 | +€14,480 | +32.2% |
| Taxes | 450/3 | €12,492 | €5,824 | -€6,668 | -53.4% |
| Remuneration and social security | 454/9 | €32,446 | €53,594 | +€21,148 | +65.2% |
| Other amounts payable | 47/48 | €21,866 | €50,000 | +€28,134 | +128.7% |
| Non-recurring operating income | 76A | €3,665 | - | -€3,665 | |
| Remuneration, social security and pensions | 62 | €303,172 | €474,815 | +€171,643 | +56.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,170 | €32,135 | +€10,965 | +51.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,910 | +€10,910 | |
| Other operating charges | 640/8 | €2,988 | €10,147 | +€7,159 | +239.6% |
| Non-recurring operating charges | 66A | €0 | - | -€0 | |
| Gross operating margin | 9900 | €344,950 | €596,507 | +€251,557 | +72.9% |
| Operating profit (loss) | 9901 | €17,620 | €68,501 | +€50,881 | +288.8% |
| Financial income | 75/76B | €2,256 | €3,463 | +€1,207 | +53.5% |
| Recurring financial income | 75 | €2,256 | €3,463 | +€1,207 | +53.5% |
| Financial charges | 65/66B | €9,133 | €12,336 | +€3,203 | +35.1% |
| Recurring financial charges | 65 | €9,133 | €12,336 | +€3,203 | +35.1% |
| Profit (loss) for the period before taxes | 9903 | €10,743 | €59,628 | +€48,885 | +455.0% |
| Income taxes | 67/77 | €11,639 | €18,864 | +€7,225 | +62.1% |
| Profit (loss) for the period | 9904 | -€896 | €40,764 | +€41,660 | |
| Profit (loss) for the period to be appropriated | 9905 | -€896 | €40,764 | +€41,660 |
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 6 October 2026 via checked.be.