Smappee: 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.
What changed
Smappee
NACE 29.310, Manufacture of motor vehicles, trailers and semi-trailers
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€3.3m
2024 · €1.9m-€5.1m
Equity
€14.6m
2024 · €17.9m-€3.3m
Cash
€3.0m
2024 · €1.6m+€1.4m
Balance sheet total
€28.6m
2024 · €29.7m-€1.1m
Largest movements
Assets
- Stocks and contracts -€3.1m
down €3.1m (-24.6%), from €12.7m to €9.6m
- Intangible fixed assets +€2.1m
up €2.1m (+44.1%), from €4.7m to €6.7m
- Cash +€1.4m
up €1.4m (+85.7%), from €1.6m to €3.0m
mainly Depreciation (+€4.1m) and Stocks and contracts (+€3.1m)
- Financial fixed assets -€1.3m
down €1.3m (-34.9%), from €3.9m to €2.5m
of which Affiliated companies: -€1.3m
Equity and liabilities
- Profit (loss) carried forward -€3.3m
down €3.3m (-64.1%), from €5.1m to €1.8m
- Other debts +€2.0m
up €2.0m, from €0 to €2.0m
- Short-term financial debts +€611,203
up €611,203 (+10.2%), from €6.0m to €6.6m
- Accrued charges and deferred income -€540,631
down €540,631 (-53.7%), from €1.0m to €466,729
Income statement
- Turnover -€4.7m
down €4.7m (-13.1%), from €35.8m to €31.1m
- Goods and materials -€4.1m
down €4.1m (-26.9%), from €15.2m to €11.1m
of which Purchases: -€4.3m
- Staff costs +€1.8m
up €1.8m (+26.2%), from €6.9m to €8.7m
- Financial charges +€1.5m
up €1.5m (+423.7%), from €357,420 to €1.9m
of which Non-recurring financial charges: +€1.5m
- Depreciation +€1.3m
up €1.3m (+47.7%), from €2.8m to €4.1m
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.
Result 2024
€1.9m
Turnover
-€4.7m
Other operating income
+€197,648
Goods and materials
+€4.1m
Services and other goods
+€436,851
Staff costs
-€1.8m
Depreciation
-€1.3m
Write-downs
-€67,561
Provisions
+€74,929
Other operating charges
+€19,877
Other operating items
-€957,685
Financial income
-€61,177
Financial charges
-€1.5m
Taxes
+€442,205
Result 2025
-€3.3m
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.
From operations
+€5.7m
Investment
-€4.9m
Financing
+€611,203
Cash 2024
€1.6m
From operations (derived)
+€5.7m
Net result for the year
-€3.3m
Depreciation
+€4.1m
Receivables after one year
-€192,415
Stocks and contracts
+€3.1m
Receivables within one year
+€211,936
Deferred charges and accrued income
+€164,206
Provisions
+€41,071
Trade debts
-€46,226
Tax, wage and social debts
+€152,708
Other debts
+€2.0m
Accrued charges and deferred income
-€540,631
Investment (derived)
-€4.9m
Investment in fixed assets (net)
-€4.9m
Financing
+€611,203
Short-term financial debts
+€611,203
Cash 2025
€3.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,650,561 | €28,570,274 | -€1.1m | -3.6% |
| Fixed assets | 21/28 | €8,970,485 | €9,826,561 | +€856,076 | +9.5% |
| Intangible fixed assets | 21 | €4,669,720 | €6,731,318 | +€2.1m | +44.1% |
| Tangible fixed assets | 22/27 | €439,297 | €581,349 | +€142,053 | +32.3% |
| Plant, machinery and equipment | 23 | €100,647 | €239,395 | +€138,747 | +137.9% |
| Furniture and vehicles | 24 | €210,137 | €206,045 | -€4,091 | -1.9% |
| Other tangible fixed assets | 26 | €128,513 | €135,910 | +€7,397 | +5.8% |
| Financial fixed assets | 28 | €3,861,469 | €2,513,894 | -€1.3m | -34.9% |
| Affiliated companies | 280/1 | €3,568,600 | €2,276,638 | -€1.3m | -36.2% |
| Participating interests | 280 | €1 | €1 | = | 0.0% |
| Amounts receivable | 281 | €3,568,599 | €2,276,638 | -€1.3m | -36.2% |
| Companies linked by participating interests | 282/3 | €125,000 | €125,000 | = | 0.0% |
| Participating interests | 282 | €125,000 | €125,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €167,869 | €112,255 | -€55,613 | -33.1% |
| Amounts receivable and cash guarantees | 285/8 | €167,869 | €112,255 | -€55,613 | -33.1% |
| Current assets | 29/58 | €20,680,077 | €18,743,713 | -€1.9m | -9.4% |
| Amounts receivable after more than one year | 29 | - | €192,415 | +€192,415 | |
| Other amounts receivable | 291 | - | €192,415 | +€192,415 | |
| Stocks and contracts in progress | 3 | €12,722,973 | €9,596,445 | -€3.1m | -24.6% |
| Stocks | 30/36 | €12,722,973 | €9,596,445 | -€3.1m | -24.6% |
| Raw materials and consumables | 30/31 | €8,562,513 | €7,267,827 | -€1.3m | -15.1% |
| Work in progress | 32 | €1,234,073 | €530,730 | -€703,343 | -57.0% |
| Finished goods | 33 | €2,926,388 | €1,220,410 | -€1.7m | -58.3% |
| Goods purchased for resale | 34 | - | €577,478 | +€577,478 | |
| Amounts receivable within one year | 40/41 | €6,020,702 | €5,808,766 | -€211,936 | -3.5% |
| Trade receivables | 40 | €5,193,613 | €5,191,442 | -€2,171 | 0.0% |
| Other amounts receivable | 41 | €827,089 | €617,323 | -€209,765 | -25.4% |
| Cash at bank and in hand | 54/58 | €1,602,795 | €2,976,687 | +€1.4m | +85.7% |
| Deferred charges and accrued income | 490/1 | €333,606 | €169,400 | -€164,206 | -49.2% |
| Total equity and liabilities | 10/49 | €29,650,561 | €28,570,274 | -€1.1m | -3.6% |
| Equity | 10/15 | €17,864,338 | €14,596,634 | -€3.3m | -18.3% |
| Contributions | 10/11 | €12,500,000 | €12,500,000 | = | 0.0% |
| Capital | 10 | €12,500,000 | €12,500,000 | = | 0.0% |
| Issued capital | 100 | €12,500,000 | €12,500,000 | = | 0.0% |
| Reserves | 13 | €268,217 | €268,217 | = | 0.0% |
| Non-distributable reserves | 130/1 | €268,217 | €268,217 | = | 0.0% |
| Legal reserve | 130 | €268,217 | €268,217 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,096,121 | €1,828,417 | -€3.3m | -64.1% |
| Provisions and deferred taxes | 16 | €394,216 | €435,287 | +€41,071 | +10.4% |
| Provisions for liabilities and charges | 160/5 | €394,216 | €435,287 | +€41,071 | +10.4% |
| Other liabilities and charges | 164/5 | €394,216 | €435,287 | +€41,071 | +10.4% |
| Amounts payable | 17/49 | €11,392,007 | €13,538,353 | +€2.1m | +18.8% |
| Amounts payable within one year | 42/48 | €10,384,648 | €13,071,624 | +€2.7m | +25.9% |
| Financial debts | 43 | €6,000,000 | €6,611,203 | +€611,203 | +10.2% |
| Credit institutions | 430/8 | €6,000,000 | €6,611,203 | +€611,203 | +10.2% |
| Trade debts | 44 | €3,279,899 | €3,233,673 | -€46,226 | -1.4% |
| Suppliers | 440/4 | €3,279,899 | €3,233,673 | -€46,226 | -1.4% |
| Taxes, remuneration and social security | 45 | €1,104,749 | €1,257,457 | +€152,708 | +13.8% |
| Taxes | 450/3 | €247,437 | €437,023 | +€189,587 | +76.6% |
| Remuneration and social security | 454/9 | €857,313 | €820,434 | -€36,879 | -4.3% |
| Other amounts payable | 47/48 | €0 | €1,969,292 | +€2.0m | |
| Accrued charges and deferred income | 492/3 | €1,007,359 | €466,729 | -€540,631 | -53.7% |
| Operating income | 70/76A | €41,766,381 | €35,184,971 | -€6.6m | -15.8% |
| Turnover | 70 | €35,787,230 | €31,115,263 | -€4.7m | -13.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,048,866 | -€2,409,321 | -€3.5m | |
| Own construction capitalised | 72 | €4,588,602 | €5,922,197 | +€1.3m | +29.1% |
| Other operating income | 74 | €341,683 | €539,332 | +€197,648 | +57.8% |
| Non-recurring operating income | 76A | - | €17,500 | +€17,500 | |
| Operating charges | 60/66A | €39,527,348 | €36,945,654 | -€2.6m | -6.5% |
| Goods for resale, raw materials and consumables | 60 | €15,243,253 | €11,148,444 | -€4.1m | -26.9% |
| Purchases | 600/8 | €14,737,410 | €10,431,236 | -€4.3m | -29.2% |
| Change in stocks: decrease (increase) | 609 | €505,843 | €717,208 | +€211,365 | +41.8% |
| Services and other goods | 61 | €13,019,684 | €12,582,833 | -€436,851 | -3.4% |
| Remuneration, social security and pensions | 62 | €6,914,785 | €8,728,085 | +€1.8m | +26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,754,484 | €4,067,800 | +€1.3m | +47.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €71 | €67,632 | +€67,561 | +95156.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €116,000 | €41,071 | -€74,929 | -64.6% |
| Other operating charges | 640/8 | €27,697 | €7,821 | -€19,877 | -71.8% |
| Non-recurring operating charges | 66A | €1,451,375 | €301,968 | -€1.1m | -79.2% |
| Operating profit (loss) | 9901 | €2,239,033 | -€1,760,683 | -€4.0m | |
| Financial income | 75/76B | €233,713 | €172,536 | -€61,177 | -26.2% |
| Recurring financial income | 75 | €233,713 | €172,536 | -€61,177 | -26.2% |
| Income from financial fixed assets | 750 | €146,982 | €124,898 | -€22,084 | -15.0% |
| Other financial income | 752/9 | €86,731 | €47,638 | -€39,093 | -45.1% |
| Financial charges | 65/66B | €357,420 | €1,871,972 | +€1.5m | +423.7% |
| Recurring financial charges | 65 | €357,420 | €352,491 | -€4,929 | -1.4% |
| Debt charges | 650 | €306,265 | €249,159 | -€57,106 | -18.6% |
| Other financial charges | 652/9 | €51,154 | €103,331 | +€52,177 | +102.0% |
| Non-recurring financial charges | 66B | - | €1,519,481 | +€1.5m | |
| Profit (loss) for the period before taxes | 9903 | €2,115,326 | -€3,460,119 | -€5.6m | |
| Income taxes | 67/77 | €249,790 | -€192,415 | -€442,205 | |
| Taxes | 670/3 | €473,961 | €7,459 | -€466,502 | -98.4% |
| Tax adjustments and reversals of tax provisions | 77 | €224,172 | €199,874 | -€24,298 | -10.8% |
| Profit (loss) for the period | 9904 | €1,865,537 | -€3,267,705 | -€5.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,865,537 | -€3,267,705 | -€5.1m |
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 30 September 2026 via checked.be.