SM SOVET: 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 SOVET
Largest movements
- Cash -€61,762
down €61,762 (-50.9%), from €121,407 to €59,645
mainly Contributions, distributions and other (-€150,000) and Debts after one year (-€110,519)
- Debts after one year -€110,519
down €110,519 (-48.3%), from €228,854 to €118,335
- Other debts +€41,311
up €41,311 (+34.3%), from €120,557 to €161,867
- Financial income +€9,761
up €9,761 (+7.1%), from €136,640 to €146,401
- Depreciation +€3,552
up €3,552 (+16.6%), from €21,398 to €24,950
- Gross operating margin -€3,191
down €3,191 (-3.9%), from €82,009 to €78,819
- Financial charges -€3,166
down €3,166 (-26.6%), from €11,885 to €8,719
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 | €2,572,467 | €2,499,463 | -€73,004 | -2.8% |
| Fixed assets | 21/28 | €2,429,508 | €2,425,898 | -€3,610 | -0.1% |
| Tangible fixed assets | 22/27 | €254,958 | €251,348 | -€3,610 | -1.4% |
| Land and buildings | 22 | €254,958 | €251,348 | -€3,610 | -1.4% |
| Financial fixed assets | 28 | €2,174,550 | €2,174,550 | = | 0.0% |
| Current assets | 29/58 | €142,959 | €73,565 | -€69,394 | -48.5% |
| Amounts receivable within one year | 40/41 | €21,552 | €13,920 | -€7,632 | -35.4% |
| Trade receivables | 40 | €12,984 | €1,535 | -€11,449 | -88.2% |
| Other amounts receivable | 41 | €8,568 | €12,385 | +€3,817 | +44.5% |
| Cash at bank and in hand | 54/58 | €121,407 | €59,645 | -€61,762 | -50.9% |
| Total equity and liabilities | 10/49 | €2,572,467 | €2,499,463 | -€73,004 | -2.8% |
| Equity | 10/15 | €2,087,693 | €2,089,559 | +€1,865 | +0.1% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €1,736,073 | €1,737,073 | +€1,000 | +0.1% |
| Non-distributable reserves | 130/1 | €20,415 | €20,415 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Other | 1319 | €12,978 | €12,978 | = | 0.0% |
| Tax-exempt reserves | 132 | €54,628 | €54,628 | = | 0.0% |
| Distributable reserves | 133 | €1,661,030 | €1,662,030 | +€1,000 | +0.1% |
| Profit (loss) carried forward | 14 | €277,253 | €278,118 | +€865 | +0.3% |
| Amounts payable | 17/49 | €484,773 | €409,904 | -€74,869 | -15.4% |
| Amounts payable after more than one year | 17 | €228,854 | €118,335 | -€110,519 | -48.3% |
| Financial debts | 170/4 | €228,854 | €118,335 | -€110,519 | -48.3% |
| Amounts payable within one year | 42/48 | €255,919 | €291,569 | +€35,650 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €107,256 | €110,519 | +€3,262 | +3.0% |
| Trade debts | 44 | €17,627 | €5,619 | -€12,008 | -68.1% |
| Suppliers | 440/4 | €17,627 | €5,619 | -€12,008 | -68.1% |
| Taxes, remuneration and social security | 45 | €10,479 | €13,564 | +€3,085 | +29.4% |
| Taxes | 450/3 | €10,479 | €13,564 | +€3,085 | +29.4% |
| Other amounts payable | 47/48 | €120,557 | €161,867 | +€41,311 | +34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,398 | €24,950 | +€3,552 | +16.6% |
| Other operating charges | 640/8 | €16,809 | €17,622 | +€813 | +4.8% |
| Gross operating margin | 9900 | €82,009 | €78,819 | -€3,191 | -3.9% |
| Operating profit (loss) | 9901 | €43,802 | €36,247 | -€7,555 | -17.2% |
| Financial income | 75/76B | €136,640 | €146,401 | +€9,761 | +7.1% |
| Recurring financial income | 75 | €136,640 | €146,401 | +€9,761 | +7.1% |
| Financial charges | 65/66B | €11,885 | €8,719 | -€3,166 | -26.6% |
| Recurring financial charges | 65 | €11,885 | €8,719 | -€3,166 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €168,557 | €173,929 | +€5,372 | +3.2% |
| Income taxes | 67/77 | €22,479 | €22,064 | -€415 | -1.8% |
| Profit (loss) for the period | 9904 | €146,078 | €151,865 | +€5,787 | +4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €146,078 | €151,865 | +€5,787 | +4.0% |
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 25 October 2026 via checked.be.