Small & Medium Enterprises Partners: 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.
What changed
Small & Medium Enterprises Partners
NACE 64.210, Activities of holding companies
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€176,999
2023 · €1.2m-€990,186
Equity
€11.6m
2023 · €11.4m+€176,999
Cash
€34,244
2023 · €4,160+€30,084
Balance sheet total
€19.1m
2023 · €18.5m+€565,863
Largest movements
Assets
- Receivables within one year +€394,059
up €394,059 (+54.1%), from €728,084 to €1.1m
of which Other amounts receivable: +€260,643
Equity and liabilities
- Other debts +€508,340
up €508,340 (+625%), from €81,328 to €589,668
Income statement
- Financial income -€903,458
down €903,458 (-92.9%), from €972,922 to €69,464
- Gross operating margin -€143,679
down €143,679 (-19.8%), from €724,744 to €581,066
- Taxes -€46,852
down €46,852 (-36.2%), from €129,590 to €82,738
- Depreciation -€7,801
down €7,801 (-5.2%), from €150,596 to €142,796
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.
Result 2023
€1.2m
Gross operating margin
-€143,679
Depreciation
+€7,801
Other operating charges
-€3,411
Financial income
-€903,458
Financial charges
+€5,710
Taxes
+€46,852
Result 2024
€176,999
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€202,102
Investment
-€38,854
Financing
-€133,164
Cash 2023
€4,160
From operations (derived)
+€202,102
Net result for the year
+€176,999
Depreciation
+€142,796
Receivables after one year
-€179,800
Receivables within one year
-€394,059
Deferred charges and accrued income
-€65,862
Trade debts
+€29,258
Tax, wage and social debts
+€40,215
Other debts
+€508,340
Accrued charges and deferred income
-€55,784
Investment (derived)
-€38,854
Investment in fixed assets (net)
-€38,854
Financing
-€133,164
Debts after one year
-€141,753
Current portion of long-term debt
+€8,589
Cash 2024
€34,244
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,522,340 | €19,088,203 | +€565,863 | +3.1% |
| Fixed assets | 21/28 | €14,141,997 | €14,038,055 | -€103,942 | -0.7% |
| Tangible fixed assets | 22/27 | €2,289,134 | €2,185,192 | -€103,942 | -4.5% |
| Land and buildings | 22 | €1,804,495 | €1,722,478 | -€82,017 | -4.5% |
| Plant, machinery and equipment | 23 | €434,960 | €402,118 | -€32,842 | -7.6% |
| Furniture and vehicles | 24 | €49,679 | €60,595 | +€10,917 | +22.0% |
| Financial fixed assets | 28 | €11,852,863 | €11,852,863 | = | 0.0% |
| Current assets | 29/58 | €4,380,344 | €5,050,149 | +€669,805 | +15.3% |
| Amounts receivable after more than one year | 29 | €3,460,411 | €3,640,211 | +€179,800 | +5.2% |
| Other amounts receivable | 291 | €3,460,411 | €3,640,211 | +€179,800 | +5.2% |
| Amounts receivable within one year | 40/41 | €728,084 | €1,122,143 | +€394,059 | +54.1% |
| Trade receivables | 40 | €566,052 | €699,468 | +€133,416 | +23.6% |
| Other amounts receivable | 41 | €162,032 | €422,675 | +€260,643 | +161% |
| Cash at bank and in hand | 54/58 | €4,160 | €34,244 | +€30,084 | +723% |
| Deferred charges and accrued income | 490/1 | €187,689 | €253,551 | +€65,862 | +35.1% |
| Total equity and liabilities | 10/49 | €18,522,340 | €19,088,203 | +€565,863 | +3.1% |
| Equity | 10/15 | €11,392,262 | €11,569,260 | +€176,999 | +1.6% |
| Contributions | 10/11 | €884,307 | €884,307 | = | 0.0% |
| Capital | 10 | €884,307 | €884,307 | = | 0.0% |
| Issued capital | 100 | €884,307 | €884,307 | = | 0.0% |
| Revaluation surpluses | 12 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €10,487,955 | €10,664,953 | +€176,999 | +1.7% |
| Non-distributable reserves | 130/1 | €62,000 | €62,000 | = | 0.0% |
| Legal reserve | 130 | €62,000 | €62,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,465 | €17,465 | = | 0.0% |
| Distributable reserves | 133 | €10,408,490 | €10,585,488 | +€176,999 | +1.7% |
| Amounts payable | 17/49 | €7,130,079 | €7,518,943 | +€388,865 | +5.5% |
| Amounts payable after more than one year | 17 | €5,744,833 | €5,603,080 | -€141,753 | -2.5% |
| Financial debts | 170/4 | €1,393,026 | €1,174,519 | -€218,507 | -15.7% |
| Other amounts payable | 178/9 | €4,351,807 | €4,428,561 | +€76,754 | +1.8% |
| Amounts payable within one year | 42/48 | €1,151,130 | €1,737,532 | +€586,402 | +50.9% |
| Current portion of amounts payable after more than one year | 42 | €339,059 | €347,648 | +€8,589 | +2.5% |
| Financial debts | 43 | €500,000 | €500,000 | = | 0.0% |
| Credit institutions | 430/8 | €500,000 | €500,000 | = | 0.0% |
| Trade debts | 44 | €57,018 | €86,276 | +€29,258 | +51.3% |
| Suppliers | 440/4 | €57,018 | €86,276 | +€29,258 | +51.3% |
| Taxes, remuneration and social security | 45 | €173,725 | €213,940 | +€40,215 | +23.1% |
| Taxes | 450/3 | €173,725 | €213,940 | +€40,215 | +23.1% |
| Other amounts payable | 47/48 | €81,328 | €589,668 | +€508,340 | +625% |
| Accrued charges and deferred income | 492/3 | €234,115 | €178,331 | -€55,784 | -23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €150,596 | €142,796 | -€7,801 | -5.2% |
| Other operating charges | 640/8 | €31,651 | €35,061 | +€3,411 | +10.8% |
| Gross operating margin | 9900 | €724,744 | €581,066 | -€143,679 | -19.8% |
| Operating profit (loss) | 9901 | €542,497 | €403,209 | -€139,289 | -25.7% |
| Financial income | 75/76B | €972,922 | €69,464 | -€903,458 | -92.9% |
| Recurring financial income | 75 | €972,922 | €69,464 | -€903,458 | -92.9% |
| Financial charges | 65/66B | €218,646 | €212,936 | -€5,710 | -2.6% |
| Recurring financial charges | 65 | €218,646 | €212,936 | -€5,710 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | €1,296,774 | €259,737 | -€1.0m | -80.0% |
| Income taxes | 67/77 | €129,590 | €82,738 | -€46,852 | -36.2% |
| Profit (loss) for the period | 9904 | €1,167,184 | €176,999 | -€990,186 | -84.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,167,184 | €176,999 | -€990,186 | -84.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.