SMAPPEE SERVICES: 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.
SMAPPEE SERVICES
Largest movements
- Receivables within one year +€2.3m
up €2.3m (+147.7%), from €1.6m to €3.9m
of which Trade receivables: +€2.3m
- Tangible fixed assets +€2.2m
up €2.2m (+56.9%), from €3.8m to €6.0m
of which Plant, machinery and equipment: +€1.7m
- Cash -€1.7m
down €1.7m (-83.6%), from €2.0m to €325,963
mainly Other debts (-€4.3m) and Investment in fixed assets (net) (-€2.6m)
- Stocks and contracts +€628,960
new in 2025: €628,960
- Deferred charges and accrued income +€126,766
up €126,766 (+158.1%), from €80,166 to €206,932
- Debts after one year +€7.1m
up €7.1m (+26011.3%), from €27,348 to €7.1m
- Other debts -€4.3m
down €4.3m (-74.3%), from €5.8m to €1.5m
- Trade debts +€1.3m
up €1.3m (+66.1%), from €2.0m to €3.3m
- Profit (loss) carried forward -€623,845
down €623,845 (-156.7%), from -€398,036 to -€1.0m
- Depreciation +€216,633
up €216,633 (+122.0%), from €177,560 to €394,193
- Gross operating margin +€182,590
up €182,590 (+272.8%), from €66,930 to €249,520
- Staff costs +€88,859
up €88,859 (+52.4%), from €169,687 to €258,546
- Financial charges +€45,577
up €45,577 (+27.8%), from €163,916 to €209,493
- Other operating charges +€6,390
up €6,390 (+132.3%), from €4,831 to €11,222
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 | €7,447,447 | €11,037,866 | +€3.6m | +48.2% |
| Fixed assets | 21/28 | €3,816,111 | €5,988,703 | +€2.2m | +56.9% |
| Tangible fixed assets | 22/27 | €3,816,111 | €5,988,703 | +€2.2m | +56.9% |
| Plant, machinery and equipment | 23 | €2,221,817 | €3,926,117 | +€1.7m | +76.7% |
| Leasing and similar rights | 25 | €34,207 | €26,525 | -€7,682 | -22.5% |
| Assets under construction and advance payments | 27 | €1,560,087 | €2,036,061 | +€475,975 | +30.5% |
| Current assets | 29/58 | €3,631,337 | €5,049,163 | +€1.4m | +39.0% |
| Stocks and contracts in progress | 3 | - | €628,960 | +€628,960 | |
| Stocks | 30/36 | - | €628,960 | +€628,960 | |
| Amounts receivable within one year | 40/41 | €1,569,405 | €3,887,308 | +€2.3m | +147.7% |
| Trade receivables | 40 | €1,471,979 | €3,818,870 | +€2.3m | +159.4% |
| Other amounts receivable | 41 | €97,427 | €68,438 | -€28,989 | -29.8% |
| Cash at bank and in hand | 54/58 | €1,981,765 | €325,963 | -€1.7m | -83.6% |
| Deferred charges and accrued income | 490/1 | €80,166 | €206,932 | +€126,766 | +158.1% |
| Total equity and liabilities | 10/49 | €7,447,447 | €11,037,866 | +€3.6m | +48.2% |
| Equity | 10/15 | -€368,036 | -€991,880 | -€623,845 | -169.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€398,036 | -€1,021,880 | -€623,845 | -156.7% |
| Amounts payable | 17/49 | €7,815,483 | €12,029,746 | +€4.2m | +53.9% |
| Amounts payable after more than one year | 17 | €27,348 | €7,140,820 | +€7.1m | +26011.3% |
| Financial debts | 170/4 | €27,348 | €7,140,820 | +€7.1m | +26011.3% |
| Amounts payable within one year | 42/48 | €7,788,135 | €4,849,404 | -€2.9m | -37.7% |
| Current portion of amounts payable after more than one year | 42 | €7,229 | €7,526 | +€297 | +4.1% |
| Trade debts | 44 | €2,004,071 | €3,328,471 | +€1.3m | +66.1% |
| Suppliers | 440/4 | €2,004,071 | €3,328,471 | +€1.3m | +66.1% |
| Taxes, remuneration and social security | 45 | €17,299 | €32,485 | +€15,186 | +87.8% |
| Taxes | 450/3 | €0 | €9,904 | +€9,904 | |
| Remuneration and social security | 454/9 | €17,299 | €22,581 | +€5,282 | +30.5% |
| Other amounts payable | 47/48 | €5,759,536 | €1,480,922 | -€4.3m | -74.3% |
| Accrued charges and deferred income | 492/3 | - | €39,523 | +€39,523 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €169,687 | €258,546 | +€88,859 | +52.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €177,560 | €394,193 | +€216,633 | +122.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €987 | €0 | -€987 | -100.0% |
| Other operating charges | 640/8 | €4,831 | €11,222 | +€6,390 | +132.3% |
| Gross operating margin | 9900 | €66,930 | €249,520 | +€182,590 | +272.8% |
| Operating profit (loss) | 9901 | -€286,135 | -€414,441 | -€128,306 | -44.8% |
| Financial income | 75/76B | €874 | €702 | -€171 | -19.6% |
| Recurring financial income | 75 | €874 | €702 | -€171 | -19.6% |
| Financial charges | 65/66B | €163,916 | €209,493 | +€45,577 | +27.8% |
| Recurring financial charges | 65 | €163,916 | €209,493 | +€45,577 | +27.8% |
| Profit (loss) for the period before taxes | 9903 | -€449,177 | -€623,231 | -€174,055 | -38.7% |
| Income taxes | 67/77 | €0 | €613 | +€613 | |
| Profit (loss) for the period | 9904 | -€449,177 | -€623,845 | -€174,668 | -38.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€449,177 | -€623,845 | -€174,668 | -38.9% |
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.