SM CONSTRUCTION ET SERVICES: 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.
SM CONSTRUCTION ET SERVICES
Largest movements
- Receivables within one year +€8,878
up €8,878 (+12.2%), from €72,763 to €81,642
of which Other amounts receivable: +€32,630
- Cash -€5,314
down €5,314 (-91.0%), from €5,842 to €528
mainly Trade debts (-€33,601) and Receivables within one year (-€8,878)
- Tangible fixed assets -€5,246
down €5,246 (-28.5%), from €18,416 to €13,170
of which Leasing and similar rights: -€4,979
- Trade debts -€33,601
down €33,601 (-60.0%), from €56,039 to €22,438
- Profit (loss) carried forward +€32,508
up €32,508 (+204%), from €15,953 to €48,460
- Debts after one year -€4,909
down €4,909 (-33.8%), from €14,516 to €9,607
- Tax, wage and social debts +€4,037
up €4,037 (+68.6%), from €5,889 to €9,926
- Turnover +€45,759
up €45,759 (+29.4%), from €155,719 to €201,478
- Gross operating margin +€39,209
up €39,209 (+376%), from €10,431 to €49,640
- Taxes +€7,849
up €7,849 (+483%), from €1,625 to €9,474
- Purchases and services +€6,550
up €6,550 (+4.5%), from €145,288 to €151,838
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
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 | €97,021 | €95,340 | -€1,681 | -1.7% |
| Fixed assets | 21/28 | €18,416 | €13,170 | -€5,246 | -28.5% |
| Tangible fixed assets | 22/27 | €18,416 | €13,170 | -€5,246 | -28.5% |
| Furniture and vehicles | 24 | €366 | €100 | -€266 | -72.7% |
| Leasing and similar rights | 25 | €18,050 | €13,070 | -€4,979 | -27.6% |
| Current assets | 29/58 | €78,606 | €82,170 | +€3,564 | +4.5% |
| Amounts receivable within one year | 40/41 | €72,763 | €81,642 | +€8,878 | +12.2% |
| Trade receivables | 40 | €47,814 | €24,063 | -€23,751 | -49.7% |
| Other amounts receivable | 41 | €24,949 | €57,579 | +€32,630 | +131% |
| Cash at bank and in hand | 54/58 | €5,842 | €528 | -€5,314 | -91.0% |
| Total equity and liabilities | 10/49 | €97,021 | €95,340 | -€1,681 | -1.7% |
| Equity | 10/15 | €15,953 | €48,460 | +€32,508 | +204% |
| Profit (loss) carried forward | 14 | €15,953 | €48,460 | +€32,508 | +204% |
| Amounts payable | 17/49 | €81,069 | €46,880 | -€34,189 | -42.2% |
| Amounts payable after more than one year | 17 | €14,516 | €9,607 | -€4,909 | -33.8% |
| Financial debts | 170/4 | €14,516 | €9,607 | -€4,909 | -33.8% |
| Amounts payable within one year | 42/48 | €66,553 | €37,273 | -€29,280 | -44.0% |
| Current portion of amounts payable after more than one year | 42 | €4,626 | €4,909 | +€284 | +6.1% |
| Trade debts | 44 | €56,039 | €22,438 | -€33,601 | -60.0% |
| Suppliers | 440/4 | €56,039 | €22,438 | -€33,601 | -60.0% |
| Taxes, remuneration and social security | 45 | €5,889 | €9,926 | +€4,037 | +68.6% |
| Taxes | 450/3 | €5,889 | €9,926 | +€4,037 | +68.6% |
| Turnover | 70 | €155,719 | €201,478 | +€45,759 | +29.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €145,288 | €151,838 | +€6,550 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,246 | €5,246 | = | 0.0% |
| Other operating charges | 640/8 | €500 | €980 | +€480 | +96.1% |
| Gross operating margin | 9900 | €10,431 | €49,640 | +€39,209 | +376% |
| Operating profit (loss) | 9901 | €4,686 | €43,414 | +€38,729 | +827% |
| Financial income | 75/76B | €0 | €61 | +€61 | +75,925% |
| Recurring financial income | 75 | €0 | €61 | +€61 | +75,925% |
| Financial charges | 65/66B | €1,973 | €1,494 | -€479 | -24.3% |
| Recurring financial charges | 65 | €1,973 | €1,494 | -€479 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €2,713 | €41,981 | +€39,269 | +1,448% |
| Income taxes | 67/77 | €1,625 | €9,474 | +€7,849 | +483% |
| Profit (loss) for the period | 9904 | €1,088 | €32,508 | +€31,420 | +2,889% |
| Profit (loss) for the period to be appropriated | 9905 | €1,088 | €32,508 | +€31,420 | +2,889% |
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 20 October 2026 via checked.be.