Smalco: what changed
Two fiscal 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.
Smalco
Largest movements
- Cash +€63,512
up €63,512 (+42.7%), from €148,606 to €212,119
mainly Depreciation (+€50,781) and Net result for the year (+€37,408)
- Tangible fixed assets -€50,781
down €50,781 (-14.5%), from €349,133 to €298,351
of which Plant, machinery and equipment: -€26,727
- Reserves +€37,408
up €37,408 (+20.8%), from €179,438 to €216,846
- Debts after one year -€24,483
down €24,483 (-10.0%), from €244,937 to €220,454
- Gross operating margin -€11,060
down €11,060 (-7.5%), from €147,287 to €136,227
- Taxes -€2,258
down €2,258 (-12.5%), from €18,066 to €15,807
- Depreciation +€1,830
up €1,830 (+3.7%), from €48,952 to €50,781
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €576,250 | €589,118 | +€12,868 | +2.2% |
| Fixed assets | 21/28 | €349,133 | €298,351 | -€50,781 | -14.5% |
| Tangible fixed assets | 22/27 | €349,133 | €298,351 | -€50,781 | -14.5% |
| Land and buildings | 22 | €239,237 | €220,650 | -€18,588 | -7.8% |
| Plant, machinery and equipment | 23 | €103,208 | €76,480 | -€26,727 | -25.9% |
| Furniture and vehicles | 24 | €6,687 | €1,221 | -€5,466 | -81.7% |
| Current assets | 29/58 | €227,118 | €290,767 | +€63,650 | +28.0% |
| Stocks and contracts in progress | 3 | €60,677 | €65,254 | +€4,577 | +7.5% |
| Stocks | 30/36 | €60,677 | €65,254 | +€4,577 | +7.5% |
| Amounts receivable within one year | 40/41 | €16,141 | €11,355 | -€4,787 | -29.7% |
| Trade receivables | 40 | €12,663 | €8,590 | -€4,073 | -32.2% |
| Other amounts receivable | 41 | €3,479 | €2,765 | -€714 | -20.5% |
| Cash at bank and in hand | 54/58 | €148,606 | €212,119 | +€63,512 | +42.7% |
| Deferred charges and accrued income | 490/1 | €1,693 | €2,040 | +€347 | +20.5% |
| Total equity and liabilities | 10/49 | €576,250 | €589,118 | +€12,868 | +2.2% |
| Equity | 10/15 | €259,438 | €296,846 | +€37,408 | +14.4% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €179,438 | €216,846 | +€37,408 | +20.8% |
| Distributable reserves | 133 | €179,438 | €216,846 | +€37,408 | +20.8% |
| Amounts payable | 17/49 | €316,812 | €292,272 | -€24,540 | -7.7% |
| Amounts payable after more than one year | 17 | €244,937 | €220,454 | -€24,483 | -10.0% |
| Financial debts | 170/4 | €244,937 | €220,454 | -€24,483 | -10.0% |
| Amounts payable within one year | 42/48 | €70,581 | €70,393 | -€189 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €28,561 | €25,244 | -€3,317 | -11.6% |
| Trade debts | 44 | €10,738 | €16,259 | +€5,521 | +51.4% |
| Suppliers | 440/4 | €10,738 | €16,259 | +€5,521 | +51.4% |
| Advances received on contracts in progress | 46 | - | €300 | +€300 | |
| Taxes, remuneration and social security | 45 | €27,235 | €26,718 | -€518 | -1.9% |
| Taxes | 450/3 | €20,694 | €22,145 | +€1,450 | +7.0% |
| Remuneration and social security | 454/9 | €6,541 | €4,573 | -€1,968 | -30.1% |
| Other amounts payable | 47/48 | €4,047 | €1,871 | -€2,176 | -53.8% |
| Accrued charges and deferred income | 492/3 | €1,294 | €1,426 | +€132 | +10.2% |
| Remuneration, social security and pensions | 62 | €24,151 | €23,718 | -€433 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,952 | €50,781 | +€1,830 | +3.7% |
| Other operating charges | 640/8 | €2,717 | €2,750 | +€34 | +1.2% |
| Non-recurring operating charges | 66A | - | €250 | +€250 | |
| Gross operating margin | 9900 | €147,287 | €136,227 | -€11,060 | -7.5% |
| Operating profit (loss) | 9901 | €71,468 | €58,727 | -€12,741 | -17.8% |
| Financial income | 75/76B | €4 | €96 | +€92 | +2293.8% |
| Recurring financial income | 75 | €4 | €96 | +€92 | +2293.8% |
| Financial charges | 65/66B | €6,432 | €5,608 | -€825 | -12.8% |
| Recurring financial charges | 65 | €6,432 | €5,608 | -€825 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €65,040 | €53,215 | -€11,824 | -18.2% |
| Income taxes | 67/77 | €18,066 | €15,807 | -€2,258 | -12.5% |
| Profit (loss) for the period | 9904 | €46,974 | €37,408 | -€9,566 | -20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,974 | €37,408 | -€9,566 | -20.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.