Smak: what changed
What changed
Smak
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€45,850
2024 · €24,779+€21,071
Equity
€2.2m
2024 · €2.1m+€45,850
Cash
€27,026
2024 · €9,182+€17,843
Balance sheet total
€3.1m
2024 · €3.1m+€13,279
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Provisions -€120,852
down €120,852 (-17.7%), from €682,757 to €561,905
- Other debts +€79,500
up €79,500 (+35.5%), from €224,195 to €303,695
- Reserves +€45,850
up €45,850 (+78.4%), from €58,492 to €104,342
Income statement
- Gross operating margin -€75,156
down €75,156 (-54.0%), from €139,051 to €63,895
- Staff costs -€54,555
down €54,555 (-58.4%), from €93,424 to €38,870
- Financial income +€48,937
new in 2025: €48,937
- Taxes +€7,780
up €7,780 (+82.4%), from €9,445 to €17,225
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
€24,779
Gross operating margin
-€75,156
Staff costs
+€54,555
Other operating charges
-€178
Financial income
+€48,937
Financial charges
+€694
Taxes
-€7,780
Result 2025
€45,850
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
+€17,843
Investment
€0
Financing
€0
Cash 2024
€9,182
From operations (derived)
+€17,843
Net result for the year
+€45,850
Receivables within one year
+€4,565
Provisions
-€120,852
Trade debts
+€13,402
Tax, wage and social debts
-€4,620
Other debts
+€79,500
Cash 2025
€27,026
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,102,120 | €3,115,399 | +€13,279 | +0.4% |
| Fixed assets | 21/28 | €3,079,810 | €3,079,810 | = | 0.0% |
| Financial fixed assets | 28 | €3,079,810 | €3,079,810 | = | 0.0% |
| Current assets | 29/58 | €22,310 | €35,588 | +€13,279 | +59.5% |
| Amounts receivable within one year | 40/41 | €12,922 | €8,357 | -€4,565 | -35.3% |
| Trade receivables | 40 | €0 | €27 | +€27 | |
| Other amounts receivable | 41 | €12,922 | €8,330 | -€4,591 | -35.5% |
| Cash at bank and in hand | 54/58 | €9,182 | €27,026 | +€17,843 | +194% |
| Deferred charges and accrued income | 490/1 | €206 | €206 | = | 0.0% |
| Total equity and liabilities | 10/49 | €3,102,120 | €3,115,399 | +€13,279 | +0.4% |
| Equity | 10/15 | €2,145,493 | €2,191,343 | +€45,850 | +2.1% |
| Contributions | 10/11 | €2,087,001 | €2,087,001 | = | 0.0% |
| Reserves | 13 | €58,492 | €104,342 | +€45,850 | +78.4% |
| Distributable reserves | 133 | €58,492 | €104,342 | +€45,850 | +78.4% |
| Provisions and deferred taxes | 16 | €682,757 | €561,905 | -€120,852 | -17.7% |
| Provisions for liabilities and charges | 160/5 | €682,757 | €561,905 | -€120,852 | -17.7% |
| Environmental obligations | 163 | €682,757 | €561,905 | -€120,852 | -17.7% |
| Amounts payable | 17/49 | €273,870 | €362,151 | +€88,281 | +32.2% |
| Amounts payable within one year | 42/48 | €273,870 | €362,151 | +€88,281 | +32.2% |
| Financial debts | 43 | €15,000 | €15,000 | = | 0.0% |
| Credit institutions | 430/8 | €15,000 | €15,000 | = | 0.0% |
| Trade debts | 44 | €11,932 | €25,333 | +€13,402 | +112% |
| Suppliers | 440/4 | €11,932 | €25,333 | +€13,402 | +112% |
| Taxes, remuneration and social security | 45 | €22,743 | €18,122 | -€4,620 | -20.3% |
| Taxes | 450/3 | €11,295 | €8,230 | -€3,065 | -27.1% |
| Remuneration and social security | 454/9 | €11,447 | €9,892 | -€1,555 | -13.6% |
| Other amounts payable | 47/48 | €224,195 | €303,695 | +€79,500 | +35.5% |
| Remuneration, social security and pensions | 62 | €93,424 | €38,870 | -€54,555 | -58.4% |
| Other operating charges | 640/8 | €968 | €1,145 | +€178 | +18.4% |
| Gross operating margin | 9900 | €139,051 | €63,895 | -€75,156 | -54.0% |
| Operating profit (loss) | 9901 | €44,659 | €23,880 | -€20,779 | -46.5% |
| Financial income | 75/76B | - | €48,937 | +€48,937 | |
| Recurring financial income | 75 | - | €48,937 | +€48,937 | |
| Financial charges | 65/66B | €10,436 | €9,742 | -€694 | -6.6% |
| Recurring financial charges | 65 | €10,436 | €9,742 | -€694 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €34,223 | €63,075 | +€28,851 | +84.3% |
| Income taxes | 67/77 | €9,445 | €17,225 | +€7,780 | +82.4% |
| Profit (loss) for the period | 9904 | €24,779 | €45,850 | +€21,071 | +85.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,779 | €45,850 | +€21,071 | +85.0% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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.