SMAKS: 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.
SMAKS
Largest movements
- Cash +€16,250
up €16,250 (+230%), from €7,079 to €23,328
mainly Net result for the year (+€70,499) and Other debts (+€49,057)
- Tangible fixed assets -€14,197
down €14,197 (-26.4%), from €53,789 to €39,593
of which Furniture and vehicles: -€11,315
- Receivables within one year -€7,074
down €7,074 (-20.6%), from €34,292 to €27,217
of which Other amounts receivable: -€11,814
- Current investments -€4,412
down €4,412 (-17.0%), from €26,000 to €21,588
- Reserves -€62,888
down €62,888 (-92.0%), from €68,387 to €5,499
- Other debts +€49,057
new in 2025: €49,057
- Tax, wage and social debts +€17,337
up €17,337 (+199%), from €8,726 to €26,063
- Debts after one year -€15,514
no longer reported in 2025 (was €15,514)
- Trade debts +€2,176
up €2,176 (+18.2%), from €11,972 to €14,149
- Gross operating margin +€11,882
up €11,882 (+12.8%), from €92,585 to €104,467
- Taxes +€2,090
up €2,090 (+12.5%), from €16,734 to €18,825
- Depreciation -€1,569
down €1,569 (-9.7%), from €16,099 to €14,530
- Financial income -€1,472
down €1,472 (-44.0%), from €3,345 to €1,872
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 | €122,068 | €112,881 | -€9,186 | -7.5% |
| Fixed assets | 21/28 | €53,789 | €39,593 | -€14,197 | -26.4% |
| Tangible fixed assets | 22/27 | €53,789 | €39,593 | -€14,197 | -26.4% |
| Plant, machinery and equipment | 23 | €2,762 | €1,627 | -€1,135 | -41.1% |
| Furniture and vehicles | 24 | €41,567 | €30,252 | -€11,315 | -27.2% |
| Other tangible fixed assets | 26 | €9,460 | €7,713 | -€1,747 | -18.5% |
| Current assets | 29/58 | €68,279 | €73,289 | +€5,010 | +7.3% |
| Amounts receivable within one year | 40/41 | €34,292 | €27,217 | -€7,074 | -20.6% |
| Trade receivables | 40 | €18,191 | €22,931 | +€4,740 | +26.1% |
| Other amounts receivable | 41 | €16,101 | €4,286 | -€11,814 | -73.4% |
| Current investments | 50/53 | €26,000 | €21,588 | -€4,412 | -17.0% |
| Cash at bank and in hand | 54/58 | €7,079 | €23,328 | +€16,250 | +230% |
| Deferred charges and accrued income | 490/1 | €908 | €1,156 | +€247 | +27.2% |
| Total equity and liabilities | 10/49 | €122,068 | €112,881 | -€9,186 | -7.5% |
| Equity | 10/15 | €70,987 | €8,099 | -€62,888 | -88.6% |
| Contributions | 10/11 | €2,600 | €2,600 | = | 0.0% |
| Reserves | 13 | €68,387 | €5,499 | -€62,888 | -92.0% |
| Distributable reserves | 133 | €68,387 | €5,499 | -€62,888 | -92.0% |
| Amounts payable | 17/49 | €51,081 | €104,782 | +€53,702 | +105% |
| Amounts payable after more than one year | 17 | €15,514 | - | -€15,514 | |
| Financial debts | 170/4 | €15,514 | - | -€15,514 | |
| Amounts payable within one year | 42/48 | €35,566 | €104,782 | +€69,216 | +195% |
| Current portion of amounts payable after more than one year | 42 | €14,869 | €15,514 | +€646 | +4.3% |
| Trade debts | 44 | €11,972 | €14,149 | +€2,176 | +18.2% |
| Suppliers | 440/4 | €11,972 | €14,149 | +€2,176 | +18.2% |
| Taxes, remuneration and social security | 45 | €8,726 | €26,063 | +€17,337 | +199% |
| Taxes | 450/3 | €8,726 | €26,063 | +€17,337 | +199% |
| Other amounts payable | 47/48 | - | €49,057 | +€49,057 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,099 | €14,530 | -€1,569 | -9.7% |
| Other operating charges | 640/8 | €468 | €643 | +€175 | +37.4% |
| Non-recurring operating charges | 66A | - | €194 | +€194 | |
| Gross operating margin | 9900 | €92,585 | €104,467 | +€11,882 | +12.8% |
| Operating profit (loss) | 9901 | €76,018 | €89,100 | +€13,081 | +17.2% |
| Financial income | 75/76B | €3,345 | €1,872 | -€1,472 | -44.0% |
| Recurring financial income | 75 | €3,345 | €1,872 | -€1,472 | -44.0% |
| Financial charges | 65/66B | €1,893 | €1,648 | -€245 | -12.9% |
| Recurring financial charges | 65 | €1,893 | €1,648 | -€245 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | €77,470 | €89,324 | +€11,854 | +15.3% |
| Income taxes | 67/77 | €16,734 | €18,825 | +€2,090 | +12.5% |
| Profit (loss) for the period | 9904 | €60,736 | €70,499 | +€9,764 | +16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €60,736 | €70,499 | +€9,764 | +16.1% |
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 17 October 2026 via checked.be.