SMD Schepens: 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.
SMD Schepens
Largest movements
- Tangible fixed assets +€176,274
up €176,274 (+48.1%), from €366,242 to €542,515
of which Land and buildings: +€152,290
- Receivables after one year -€150,000
down €150,000 (-100.0%), from €150,000 to €0
- Receivables within one year -€57,674
down €57,674 (-31.3%), from €184,172 to €126,498
of which Other amounts receivable: -€90,405
- Cash +€24,514
up €24,514 (+121.9%), from €20,110 to €44,624
mainly Receivables after one year (+€150,000) and Debts after one year (+€124,658)
- Reserves -€159,600
down €159,600 (-28.7%), from €555,254 to €395,654
- Debts after one year +€124,658
up €124,658 (+162.5%), from €76,715 to €201,373
- Trade debts +€62,752
up €62,752 (+1080.5%), from €5,808 to €68,560
- Tax, wage and social debts -€45,914
down €45,914 (-93.2%), from €49,238 to €3,325
- Profit (loss) carried forward -€28,977
down €28,977, from €0 to -€28,977
- Gross operating margin -€201,609
down €201,609 (-83.6%), from €241,053 to €39,444
- Taxes -€44,942
down €44,942 (-100.0%), from €44,942 to €1
- Other operating charges +€14,776
up €14,776 (+220.6%), from €6,698 to €21,473
- Depreciation +€9,129
up €9,129 (+25.3%), from €36,072 to €45,200
- Financial charges -€6,920
down €6,920 (-55.8%), from €12,400 to €5,480
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 | €740,412 | €732,099 | -€8,313 | -1.1% |
| Fixed assets | 21/28 | €376,881 | €553,155 | +€176,274 | +46.8% |
| Tangible fixed assets | 22/27 | €366,242 | €542,515 | +€176,274 | +48.1% |
| Land and buildings | 22 | €195,779 | €348,069 | +€152,290 | +77.8% |
| Plant, machinery and equipment | 23 | €155,022 | €182,524 | +€27,502 | +17.7% |
| Furniture and vehicles | 24 | €15,441 | €11,922 | -€3,518 | -22.8% |
| Financial fixed assets | 28 | €10,639 | €10,639 | = | 0.0% |
| Current assets | 29/58 | €363,531 | €178,944 | -€184,587 | -50.8% |
| Amounts receivable after more than one year | 29 | €150,000 | €0 | -€150,000 | -100.0% |
| Other amounts receivable | 291 | €150,000 | €0 | -€150,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €184,172 | €126,498 | -€57,674 | -31.3% |
| Trade receivables | 40 | €30,701 | €63,432 | +€32,731 | +106.6% |
| Other amounts receivable | 41 | €153,472 | €63,066 | -€90,405 | -58.9% |
| Cash at bank and in hand | 54/58 | €20,110 | €44,624 | +€24,514 | +121.9% |
| Deferred charges and accrued income | 490/1 | €9,249 | €7,822 | -€1,427 | -15.4% |
| Total equity and liabilities | 10/49 | €740,412 | €732,099 | -€8,313 | -1.1% |
| Equity | 10/15 | €575,254 | €386,677 | -€188,577 | -32.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €555,254 | €395,654 | -€159,600 | -28.7% |
| Distributable reserves | 133 | €555,254 | €395,654 | -€159,600 | -28.7% |
| Profit (loss) carried forward | 14 | €0 | -€28,977 | -€28,977 | |
| Amounts payable | 17/49 | €165,158 | €345,422 | +€180,264 | +109.1% |
| Amounts payable after more than one year | 17 | €76,715 | €201,373 | +€124,658 | +162.5% |
| Financial debts | 170/4 | €76,715 | €201,373 | +€124,658 | +162.5% |
| Amounts payable within one year | 42/48 | €86,144 | €124,049 | +€37,906 | +44.0% |
| Current portion of amounts payable after more than one year | 42 | €31,097 | €52,164 | +€21,067 | +67.7% |
| Trade debts | 44 | €5,808 | €68,560 | +€62,752 | +1080.5% |
| Suppliers | 440/4 | €5,808 | €68,560 | +€62,752 | +1080.5% |
| Taxes, remuneration and social security | 45 | €49,238 | €3,325 | -€45,914 | -93.2% |
| Taxes | 450/3 | €49,238 | €3,325 | -€45,914 | -93.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €2,299 | €20,000 | +€17,701 | +769.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,072 | €45,200 | +€9,129 | +25.3% |
| Other operating charges | 640/8 | €6,698 | €21,473 | +€14,776 | +220.6% |
| Non-recurring operating charges | 66A | - | €5,503 | +€5,503 | |
| Gross operating margin | 9900 | €241,053 | €39,444 | -€201,609 | -83.6% |
| Operating profit (loss) | 9901 | €198,284 | -€32,733 | -€231,017 | |
| Financial income | 75/76B | €8,093 | €9,237 | +€1,143 | +14.1% |
| Recurring financial income | 75 | €8,093 | €9,237 | +€1,143 | +14.1% |
| Financial charges | 65/66B | €12,400 | €5,480 | -€6,920 | -55.8% |
| Recurring financial charges | 65 | €12,400 | €5,480 | -€6,920 | -55.8% |
| Profit (loss) for the period before taxes | 9903 | €193,977 | -€28,977 | -€222,953 | |
| Income taxes | 67/77 | €44,942 | €1 | -€44,942 | -100.0% |
| Profit (loss) for the period | 9904 | €149,034 | -€28,977 | -€178,012 | |
| Profit (loss) for the period to be appropriated | 9905 | €149,034 | -€28,977 | -€178,012 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.