SMAAAK: 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.
SMAAAK
Largest movements
- Receivables within one year -€3,160
down €3,160 (-9.4%), from €33,495 to €30,335
of which Trade receivables: -€4,946
- Cash +€557
up €557 (+27.7%), from €2,008 to €2,565
mainly Net result for the year (+€6,903) and Receivables within one year (+€3,160)
- Debts after one year -€12,703
down €12,703 (-31.7%), from €40,074 to €27,371
- Profit (loss) carried forward +€6,903
up €6,903 (+14.2%), from -€48,480 to -€41,577
- Trade debts +€2,482
up €2,482 (+140%), from €1,767 to €4,249
- Tax, wage and social debts +€997
up €997 (+1,310%), from €76 to €1,073
- Gross operating margin +€3,543
up €3,543 (+51.9%), from €6,828 to €10,371
- Financial charges -€400
down €400 (-13.0%), from €3,064 to €2,664
- Other operating charges +€363
up €363 (+79.1%), from €459 to €821
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 | €35,503 | €32,976 | -€2,527 | -7.1% |
| Current assets | 29/58 | €35,503 | €32,976 | -€2,527 | -7.1% |
| Amounts receivable within one year | 40/41 | €33,495 | €30,335 | -€3,160 | -9.4% |
| Trade receivables | 40 | €33,495 | €28,549 | -€4,946 | -14.8% |
| Other amounts receivable | 41 | €0 | €1,787 | +€1,787 | |
| Cash at bank and in hand | 54/58 | €2,008 | €2,565 | +€557 | +27.7% |
| Deferred charges and accrued income | 490/1 | - | €76 | +€76 | |
| Total equity and liabilities | 10/49 | €35,503 | €32,976 | -€2,527 | -7.1% |
| Equity | 10/15 | -€20,880 | -€13,977 | +€6,903 | +33.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,000 | €9,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €7,140 | €7,140 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,480 | -€41,577 | +€6,903 | +14.2% |
| Amounts payable | 17/49 | €56,383 | €46,953 | -€9,430 | -16.7% |
| Amounts payable after more than one year | 17 | €40,074 | €27,371 | -€12,703 | -31.7% |
| Financial debts | 170/4 | €40,074 | €27,371 | -€12,703 | -31.7% |
| Amounts payable within one year | 42/48 | €14,545 | €18,024 | +€3,479 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €12,444 | €12,703 | +€259 | +2.1% |
| Trade debts | 44 | €1,767 | €4,249 | +€2,482 | +140% |
| Suppliers | 440/4 | €1,767 | €4,249 | +€2,482 | +140% |
| Taxes, remuneration and social security | 45 | €76 | €1,073 | +€997 | +1,310% |
| Taxes | 450/3 | €76 | €1,073 | +€997 | +1,310% |
| Other amounts payable | 47/48 | €258 | €0 | -€258 | -100% |
| Accrued charges and deferred income | 492/3 | €1,764 | €1,558 | -€207 | -11.7% |
| Other operating charges | 640/8 | €459 | €821 | +€363 | +79.1% |
| Gross operating margin | 9900 | €6,828 | €10,371 | +€3,543 | +51.9% |
| Operating profit (loss) | 9901 | €6,369 | €9,549 | +€3,180 | +49.9% |
| Financial income | 75/76B | - | €18 | +€18 | |
| Recurring financial income | 75 | - | €18 | +€18 | |
| Financial charges | 65/66B | €3,064 | €2,664 | -€400 | -13.0% |
| Recurring financial charges | 65 | €3,064 | €2,664 | -€400 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €3,305 | €6,903 | +€3,598 | +109% |
| Profit (loss) for the period | 9904 | €3,305 | €6,903 | +€3,598 | +109% |
| Profit (loss) for the period to be appropriated | 9905 | €3,305 | €6,903 | +€3,598 | +109% |
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 15 October 2026 via checked.be.