SM-TRANS & PRINT: 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-TRANS & PRINT
Largest movements
- Receivables within one year -€81,582
down €81,582 (-72.4%), from €112,642 to €31,060
of which Trade receivables: -€104,599
- Cash -€26,535
down €26,535 (-57.2%), from €46,400 to €19,864
mainly Trade debts (-€65,046) and Debts after one year (-€23,942)
- Tangible fixed assets -€14,224
down €14,224 (-16.0%), from €88,974 to €74,749
of which Furniture and vehicles: -€11,257
- Deferred charges and accrued income +€10,408
new in 2025: €10,408
- Trade debts -€65,046
down €65,046 (-91.2%), from €71,312 to €6,266
- Debts after one year -€23,942
down €23,942 (-38.2%), from €62,702 to €38,761
- Reserves -€14,114
down €14,114 (-23.2%), from €60,911 to €46,798
- Tax, wage and social debts -€6,413
down €6,413 (-25.5%), from €25,177 to €18,764
- Other debts -€3,198
no longer reported in 2025 (was €3,198)
- Gross operating margin -€89,990
down €89,990 (-89.5%), from €100,537 to €10,547
- Taxes -€19,791
no longer reported in 2025 (was €19,791)
- Depreciation +€3,969
up €3,969 (+25.5%), from €15,592 to €19,561
- Financial charges +€1,784
up €1,784 (+93.2%), from €1,914 to €3,698
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 | €251,066 | €139,197 | -€111,868 | -44.6% |
| Fixed assets | 21/28 | €88,974 | €74,749 | -€14,224 | -16.0% |
| Tangible fixed assets | 22/27 | €88,974 | €74,749 | -€14,224 | -16.0% |
| Plant, machinery and equipment | 23 | €34,031 | €31,756 | -€2,275 | -6.7% |
| Furniture and vehicles | 24 | €48,249 | €36,993 | -€11,257 | -23.3% |
| Other tangible fixed assets | 26 | €6,693 | €6,001 | -€693 | -10.3% |
| Current assets | 29/58 | €162,092 | €64,448 | -€97,644 | -60.2% |
| Stocks and contracts in progress | 3 | €3,050 | €3,115 | +€65 | +2.1% |
| Stocks | 30/36 | €3,050 | €3,115 | +€65 | +2.1% |
| Amounts receivable within one year | 40/41 | €112,642 | €31,060 | -€81,582 | -72.4% |
| Trade receivables | 40 | €112,642 | €8,043 | -€104,599 | -92.9% |
| Other amounts receivable | 41 | - | €23,017 | +€23,017 | |
| Cash at bank and in hand | 54/58 | €46,400 | €19,864 | -€26,535 | -57.2% |
| Deferred charges and accrued income | 490/1 | - | €10,408 | +€10,408 | |
| Total equity and liabilities | 10/49 | €251,066 | €139,197 | -€111,868 | -44.6% |
| Equity | 10/15 | €63,911 | €49,798 | -€14,114 | -22.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €60,911 | €46,798 | -€14,114 | -23.2% |
| Distributable reserves | 133 | €60,911 | €46,798 | -€14,114 | -23.2% |
| Amounts payable | 17/49 | €187,154 | €89,400 | -€97,755 | -52.2% |
| Amounts payable after more than one year | 17 | €62,702 | €38,761 | -€23,942 | -38.2% |
| Financial debts | 170/4 | €62,702 | €38,761 | -€23,942 | -38.2% |
| Amounts payable within one year | 42/48 | €122,488 | €48,972 | -€73,516 | -60.0% |
| Current portion of amounts payable after more than one year | 42 | €22,801 | €23,942 | +€1,141 | +5.0% |
| Trade debts | 44 | €71,312 | €6,266 | -€65,046 | -91.2% |
| Suppliers | 440/4 | €71,312 | €6,266 | -€65,046 | -91.2% |
| Taxes, remuneration and social security | 45 | €25,177 | €18,764 | -€6,413 | -25.5% |
| Taxes | 450/3 | €25,177 | €18,764 | -€6,413 | -25.5% |
| Other amounts payable | 47/48 | €3,198 | - | -€3,198 | |
| Accrued charges and deferred income | 492/3 | €1,964 | €1,667 | -€297 | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,592 | €19,561 | +€3,969 | +25.5% |
| Other operating charges | 640/8 | €1,496 | €2,221 | +€725 | +48.5% |
| Gross operating margin | 9900 | €100,537 | €10,547 | -€89,990 | -89.5% |
| Operating profit (loss) | 9901 | €83,449 | -€11,235 | -€94,684 | |
| Financial income | 75/76B | €0 | €819 | +€819 | +186,109% |
| Recurring financial income | 75 | €0 | €819 | +€819 | +186,109% |
| Financial charges | 65/66B | €1,914 | €3,698 | +€1,784 | +93.2% |
| Recurring financial charges | 65 | €1,914 | €3,698 | +€1,784 | +93.2% |
| Profit (loss) for the period before taxes | 9903 | €81,535 | -€14,114 | -€95,649 | |
| Income taxes | 67/77 | €19,791 | - | -€19,791 | |
| Profit (loss) for the period | 9904 | €61,744 | -€14,114 | -€75,858 | |
| Profit (loss) for the period to be appropriated | 9905 | €61,744 | -€14,114 | -€75,858 |
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.