SM&T: 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&T
Largest movements
- Receivables within one year +€15,322
up €15,322 (+19.1%), from €80,293 to €95,615
of which Other amounts receivable: +€12,726
- Cash +€7,255
up €7,255 (+97.6%), from €7,431 to €14,686
mainly Other debts (+€20,200) and Net result for the year (+€10,933)
- Tangible fixed assets -€2,759
down €2,759 (-36.1%), from €7,633 to €4,874
of which Furniture and vehicles: -€2,121
- Other debts +€20,200
up €20,200 (+6,733%), from €300 to €20,500
- Reserves -€9,600
down €9,600 (-10.4%), from €92,460 to €82,860
- Tax, wage and social debts +€6,633
up €6,633 (+34.8%), from €19,074 to €25,707
of which Taxes: +€4,633
- Gross operating margin -€20,107
down €20,107 (-41.0%), from €49,024 to €28,917
- Taxes -€3,109
down €3,109 (-28.2%), from €11,011 to €7,902
- Financial charges -€1,309
down €1,309 (-19.5%), from €6,728 to €5,419
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 | €134,154 | €152,901 | +€18,747 | +14.0% |
| Fixed assets | 21/28 | €12,133 | €7,874 | -€4,259 | -35.1% |
| Intangible fixed assets | 21 | €4,500 | €3,000 | -€1,500 | -33.3% |
| Tangible fixed assets | 22/27 | €7,633 | €4,874 | -€2,759 | -36.1% |
| Plant, machinery and equipment | 23 | €1,694 | €1,477 | -€217 | -12.8% |
| Furniture and vehicles | 24 | €5,185 | €3,064 | -€2,121 | -40.9% |
| Other tangible fixed assets | 26 | €755 | €333 | -€422 | -55.9% |
| Current assets | 29/58 | €122,021 | €145,027 | +€23,006 | +18.9% |
| Amounts receivable after more than one year | 29 | €30,460 | €30,460 | = | 0.0% |
| Other amounts receivable | 291 | €30,460 | €30,460 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €80,293 | €95,615 | +€15,322 | +19.1% |
| Trade receivables | 40 | €14,317 | €16,913 | +€2,596 | +18.1% |
| Other amounts receivable | 41 | €65,976 | €78,702 | +€12,726 | +19.3% |
| Cash at bank and in hand | 54/58 | €7,431 | €14,686 | +€7,255 | +97.6% |
| Deferred charges and accrued income | 490/1 | €3,836 | €4,266 | +€430 | +11.2% |
| Total equity and liabilities | 10/49 | €134,154 | €152,901 | +€18,747 | +14.0% |
| Equity | 10/15 | €108,913 | €99,346 | -€9,567 | -8.8% |
| Contributions | 10/11 | €9,300 | €9,300 | = | 0.0% |
| Reserves | 13 | €92,460 | €82,860 | -€9,600 | -10.4% |
| Distributable reserves | 133 | €92,460 | €82,860 | -€9,600 | -10.4% |
| Profit (loss) carried forward | 14 | €7,153 | €7,186 | +€33 | +0.5% |
| Amounts payable | 17/49 | €25,241 | €53,555 | +€28,313 | +112% |
| Amounts payable within one year | 42/48 | €25,241 | €53,555 | +€28,313 | +112% |
| Trade debts | 44 | €5,867 | €7,347 | +€1,481 | +25.2% |
| Suppliers | 440/4 | €5,867 | €7,347 | +€1,481 | +25.2% |
| Taxes, remuneration and social security | 45 | €19,074 | €25,707 | +€6,633 | +34.8% |
| Taxes | 450/3 | €19,074 | €23,707 | +€4,633 | +24.3% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €300 | €20,500 | +€20,200 | +6,733% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,999 | €4,259 | +€261 | +6.5% |
| Other operating charges | 640/8 | €149 | €404 | +€255 | +171% |
| Non-recurring operating charges | 66A | €5,723 | - | -€5,723 | |
| Gross operating margin | 9900 | €49,024 | €28,917 | -€20,107 | -41.0% |
| Operating profit (loss) | 9901 | €39,154 | €24,254 | -€14,900 | -38.1% |
| Financial charges | 65/66B | €6,728 | €5,419 | -€1,309 | -19.5% |
| Recurring financial charges | 65 | €6,728 | €5,419 | -€1,309 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €32,426 | €18,835 | -€13,591 | -41.9% |
| Income taxes | 67/77 | €11,011 | €7,902 | -€3,109 | -28.2% |
| Profit (loss) for the period | 9904 | €21,415 | €10,933 | -€10,482 | -48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,415 | €10,933 | -€10,482 | -48.9% |
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.