SMAK Holding: 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.
SMAK Holding
Largest movements
- Receivables within one year -€41,718
down €41,718 (-11.2%), from €373,611 to €331,893
- Accrued charges and deferred income -€48,808
down €48,808 (-50.0%), from €97,700 to €48,892
- Gross operating margin +€3,215
up €3,215 (+75.3%), from -€4,268 to -€1,053
- Financial charges -€1,205
down €1,205 (-96.3%), from €1,252 to €46
- Other operating charges +€50
up €50 (+44.6%), from €112 to €162
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 | €1,326,442 | €1,282,185 | -€44,257 | -3.3% |
| Fixed assets | 21/28 | €950,100 | €950,100 | = | 0.0% |
| Financial fixed assets | 28 | €950,100 | €950,100 | = | 0.0% |
| Current assets | 29/58 | €376,342 | €332,085 | -€44,257 | -11.8% |
| Amounts receivable within one year | 40/41 | €373,611 | €331,893 | -€41,718 | -11.2% |
| Other amounts receivable | 41 | €373,611 | €331,893 | -€41,718 | -11.2% |
| Cash at bank and in hand | 54/58 | €2,731 | €192 | -€2,539 | -93.0% |
| Total equity and liabilities | 10/49 | €1,326,442 | €1,282,185 | -€44,257 | -3.3% |
| Equity | 10/15 | €1,154,817 | €1,153,556 | -€1,261 | -0.1% |
| Contributions | 10/11 | €450,100 | €450,100 | = | 0.0% |
| Reserves | 13 | €710,348 | €710,348 | = | 0.0% |
| Distributable reserves | 133 | €710,348 | €710,348 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,631 | -€6,892 | -€1,261 | -22.4% |
| Amounts payable | 17/49 | €171,625 | €128,630 | -€42,996 | -25.1% |
| Amounts payable within one year | 42/48 | €73,925 | €79,738 | +€5,812 | +7.9% |
| Trade debts | 44 | €825 | €1,153 | +€328 | +39.8% |
| Suppliers | 440/4 | €825 | €1,153 | +€328 | +39.8% |
| Taxes, remuneration and social security | 45 | €1,436 | €1,270 | -€166 | -11.6% |
| Taxes | 450/3 | €1,436 | €1,270 | -€166 | -11.6% |
| Other amounts payable | 47/48 | €71,665 | €77,315 | +€5,650 | +7.9% |
| Accrued charges and deferred income | 492/3 | €97,700 | €48,892 | -€48,808 | -50.0% |
| Other operating charges | 640/8 | €112 | €162 | +€50 | +44.6% |
| Gross operating margin | 9900 | -€4,268 | -€1,053 | +€3,215 | +75.3% |
| Operating profit (loss) | 9901 | -€4,380 | -€1,215 | +€3,165 | +72.3% |
| Financial charges | 65/66B | €1,252 | €46 | -€1,205 | -96.3% |
| Recurring financial charges | 65 | €1,252 | €46 | -€1,205 | -96.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,631 | -€1,261 | +€4,370 | +77.6% |
| Profit (loss) for the period | 9904 | -€5,631 | -€1,261 | +€4,370 | +77.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,631 | -€1,261 | +€4,370 | +77.6% |
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 28 October 2026 via checked.be.