SMAN: 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.
SMAN
Largest movements
- Stocks and contracts -€23,709
down €23,709 (-53.6%), from €44,205 to €20,496
- Receivables within one year +€11,622
up €11,622 (+46.1%), from €25,197 to €36,819
of which Other amounts receivable: +€28,516
- Tangible fixed assets -€900
down €900 (-16.7%), from €5,400 to €4,500
- Trade debts -€12,221
down €12,221 (-36.8%), from €33,221 to €21,000
- Profit (loss) carried forward -€6,648
down €6,648 (-33.2%), from €20,012 to €13,364
- Tax, wage and social debts +€6,451
up €6,451 (+145.5%), from €4,435 to €10,886
- Purchases and services -€11,112
down €11,112 (-6.4%), from €172,623 to €161,511
- Other operating charges +€7,787
up €7,787 (+2595.7%), from €300 to €8,087
- Turnover -€6,166
down €6,166 (-3.6%), from €171,559 to €165,393
- Gross operating margin +€4,946
up €4,946, from -€1,064 to €3,882
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.
Cash bridge derived
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 | €78,238 | €65,820 | -€12,418 | -15.9% |
| Fixed assets | 21/28 | €7,000 | €6,100 | -€900 | -12.9% |
| Tangible fixed assets | 22/27 | €5,400 | €4,500 | -€900 | -16.7% |
| Land and buildings | 22 | €5,400 | €4,500 | -€900 | -16.7% |
| Financial fixed assets | 28 | €1,600 | €1,600 | = | 0.0% |
| Current assets | 29/58 | €71,238 | €59,720 | -€11,518 | -16.2% |
| Stocks and contracts in progress | 3 | €44,205 | €20,496 | -€23,709 | -53.6% |
| Stocks | 30/36 | €44,205 | €20,496 | -€23,709 | -53.6% |
| Amounts receivable within one year | 40/41 | €25,197 | €36,819 | +€11,622 | +46.1% |
| Trade receivables | 40 | €20,988 | €4,094 | -€16,894 | -80.5% |
| Other amounts receivable | 41 | €4,209 | €32,725 | +€28,516 | +677.5% |
| Cash at bank and in hand | 54/58 | €1,836 | €2,405 | +€569 | +31.0% |
| Total equity and liabilities | 10/49 | €78,238 | €65,820 | -€12,418 | -15.9% |
| Equity | 10/15 | €40,582 | €33,934 | -€6,648 | -16.4% |
| Contributions | 10/11 | €18,700 | €18,700 | = | 0.0% |
| Reserves | 13 | €1,870 | €1,870 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,870 | €1,870 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,870 | €1,870 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,012 | €13,364 | -€6,648 | -33.2% |
| Amounts payable | 17/49 | €37,656 | €31,886 | -€5,770 | -15.3% |
| Amounts payable within one year | 42/48 | €37,656 | €31,886 | -€5,770 | -15.3% |
| Trade debts | 44 | €33,221 | €21,000 | -€12,221 | -36.8% |
| Suppliers | 440/4 | €33,221 | €21,000 | -€12,221 | -36.8% |
| Taxes, remuneration and social security | 45 | €4,435 | €10,886 | +€6,451 | +145.5% |
| Taxes | 450/3 | €4,435 | €10,886 | +€6,451 | +145.5% |
| Turnover | 70 | €171,559 | €165,393 | -€6,166 | -3.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €172,623 | €161,511 | -€11,112 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,800 | €900 | -€900 | -50.0% |
| Other operating charges | 640/8 | €300 | €8,087 | +€7,787 | +2595.7% |
| Gross operating margin | 9900 | -€1,064 | €3,882 | +€4,946 | |
| Operating profit (loss) | 9901 | -€3,164 | -€5,105 | -€1,941 | -61.3% |
| Financial income | 75/76B | - | €35 | +€35 | |
| Recurring financial income | 75 | - | €35 | +€35 | |
| Financial charges | 65/66B | €1,941 | €1,577 | -€364 | -18.8% |
| Recurring financial charges | 65 | €1,941 | €1,577 | -€364 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | -€5,105 | -€6,647 | -€1,542 | -30.2% |
| Profit (loss) for the period | 9904 | -€5,105 | -€6,647 | -€1,542 | -30.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,105 | -€6,647 | -€1,542 | -30.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.