SMACHT: what changed
What changed
SMACHT
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
€3,374
2024 · €5,180-€1,807
Equity
€52,853
2024 · €49,479+€3,374
Cash
€35,355
2024 · €20,826+€14,529
Balance sheet total
€533,873
2024 · €555,426-€21,554
Largest movements
Assets
- Tangible fixed assets -€26,695
down €26,695 (-5.2%), from €515,516 to €488,821
- Cash +€14,529
up €14,529 (+69.8%), from €20,826 to €35,355
mainly Depreciation (+€26,695) and Receivables within one year (+€9,408)
- Receivables within one year -€9,408
down €9,408 (-59.1%), from €15,923 to €6,515
Equity and liabilities
- Debts after one year -€32,926
down €32,926 (-11.7%), from €281,641 to €248,715
of which Financial debts: -€32,926
Income statement
- Gross operating margin -€4,440
down €4,440 (-7.6%), from €58,334 to €53,894
- Financial charges -€1,800
down €1,800 (-9.0%), from €20,039 to €18,239
- Taxes -€712
down €712 (-36.7%), from €1,940 to €1,228
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€5,180
Gross operating margin
-€4,440
Other operating charges
+€121
Financial charges
+€1,800
Taxes
+€712
Result 2025
€3,374
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€45,935
Investment
€0
Financing
-€31,406
Cash 2024
€20,826
From operations (derived)
+€45,935
Net result for the year
+€3,374
Depreciation
+€26,695
Receivables within one year
+€9,408
Smaller working-capital items
-€3
Trade debts
+€515
Tax, wage and social debts
+€1,465
Other debts
+€4,482
Financing
-€31,406
Debts after one year
-€32,926
Current portion of long-term debt
+€1,520
Cash 2025
€35,355
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €555,426 | €533,873 | -€21,554 | -3.9% |
| Fixed assets | 21/28 | €518,016 | €491,321 | -€26,695 | -5.2% |
| Tangible fixed assets | 22/27 | €515,516 | €488,821 | -€26,695 | -5.2% |
| Land and buildings | 22 | €515,516 | €488,821 | -€26,695 | -5.2% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €37,410 | €42,552 | +€5,142 | +13.7% |
| Amounts receivable within one year | 40/41 | €15,923 | €6,515 | -€9,408 | -59.1% |
| Trade receivables | 40 | €15,923 | €6,515 | -€9,408 | -59.1% |
| Cash at bank and in hand | 54/58 | €20,826 | €35,355 | +€14,529 | +69.8% |
| Deferred charges and accrued income | 490/1 | €661 | €682 | +€20 | +3.1% |
| Total equity and liabilities | 10/49 | €555,426 | €533,873 | -€21,554 | -3.9% |
| Equity | 10/15 | €49,479 | €52,853 | +€3,374 | +6.8% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €9,479 | €12,853 | +€3,374 | +35.6% |
| Distributable reserves | 133 | €9,479 | €12,853 | +€3,374 | +35.6% |
| Amounts payable | 17/49 | €505,947 | €481,020 | -€24,927 | -4.9% |
| Amounts payable after more than one year | 17 | €281,641 | €248,715 | -€32,926 | -11.7% |
| Financial debts | 170/4 | €266,758 | €233,832 | -€32,926 | -12.3% |
| Other amounts payable | 178/9 | €14,883 | €14,883 | = | 0.0% |
| Amounts payable within one year | 42/48 | €219,618 | €227,599 | +€7,982 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €31,406 | €32,926 | +€1,520 | +4.8% |
| Trade debts | 44 | €485 | €1,000 | +€515 | +106% |
| Suppliers | 440/4 | €485 | €1,000 | +€515 | +106% |
| Taxes, remuneration and social security | 45 | €6,613 | €8,077 | +€1,465 | +22.2% |
| Taxes | 450/3 | €6,613 | €8,077 | +€1,465 | +22.2% |
| Other amounts payable | 47/48 | €181,114 | €185,596 | +€4,482 | +2.5% |
| Accrued charges and deferred income | 492/3 | €4,688 | €4,706 | +€17 | +0.4% |
| Non-recurring operating income | 76A | €7,740 | - | -€7,740 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,695 | €26,695 | = | 0.0% |
| Other operating charges | 640/8 | €4,479 | €4,358 | -€121 | -2.7% |
| Gross operating margin | 9900 | €58,334 | €53,894 | -€4,440 | -7.6% |
| Operating profit (loss) | 9901 | €27,160 | €22,841 | -€4,319 | -15.9% |
| Financial charges | 65/66B | €20,039 | €18,239 | -€1,800 | -9.0% |
| Recurring financial charges | 65 | €20,039 | €18,239 | -€1,800 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €7,121 | €4,602 | -€2,519 | -35.4% |
| Income taxes | 67/77 | €1,940 | €1,228 | -€712 | -36.7% |
| Profit (loss) for the period | 9904 | €5,180 | €3,374 | -€1,807 | -34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,180 | €3,374 | -€1,807 | -34.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.