Smeba: 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.
Smeba
Largest movements
- Cash -€24,103
down €24,103 (-79.5%), from €30,321 to €6,218
mainly Other debts (-€37,677) and Trade debts (-€32,618)
- Tangible fixed assets -€19,272
down €19,272 (-20.2%), from €95,358 to €76,086
of which Plant, machinery and equipment: -€11,825
- Deferred charges and accrued income +€3,678
up €3,678 (+114%), from €3,238 to €6,916
- Intangible fixed assets -€2,000
down €2,000 (-18.6%), from €10,727 to €8,727
- Receivables within one year +€1,859
up €1,859 (+43.2%), from €4,301 to €6,160
- Other debts -€37,677
down €37,677 (-67.6%), from €55,755 to €18,078
- Trade debts -€32,618
down €32,618 (-39.9%), from €81,743 to €49,126
- Profit (loss) carried forward +€28,729
up €28,729 (+36.7%), from -€78,366 to -€49,637
- Current portion of long-term debt +€11,080
up €11,080 (+107%), from €10,317 to €21,398
- Debts after one year -€9,523
down €9,523 (-19.3%), from €49,413 to €39,890
- Gross operating margin +€41,223
up €41,223 (+25.6%), from €161,225 to €202,448
- Staff costs +€6,385
up €6,385 (+4.6%), from €139,901 to €146,286
- Financial income +€3,522
up €3,522 (+333%), from €1,058 to €4,580
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.
Derived cash bridge
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 | €161,236 | €120,700 | -€40,536 | -25.1% |
| Fixed assets | 21/28 | €110,970 | €89,948 | -€21,022 | -18.9% |
| Intangible fixed assets | 21 | €10,727 | €8,727 | -€2,000 | -18.6% |
| Tangible fixed assets | 22/27 | €95,358 | €76,086 | -€19,272 | -20.2% |
| Plant, machinery and equipment | 23 | €52,710 | €40,885 | -€11,825 | -22.4% |
| Furniture and vehicles | 24 | €3,085 | €1,724 | -€1,361 | -44.1% |
| Other tangible fixed assets | 26 | €39,563 | €33,477 | -€6,086 | -15.4% |
| Financial fixed assets | 28 | €4,885 | €5,135 | +€250 | +5.1% |
| Current assets | 29/58 | €50,266 | €30,752 | -€19,514 | -38.8% |
| Stocks and contracts in progress | 3 | €12,405 | €11,458 | -€948 | -7.6% |
| Stocks | 30/36 | €12,405 | €11,458 | -€948 | -7.6% |
| Amounts receivable within one year | 40/41 | €4,301 | €6,160 | +€1,859 | +43.2% |
| Trade receivables | 40 | €4,301 | €6,160 | +€1,859 | +43.2% |
| Cash at bank and in hand | 54/58 | €30,321 | €6,218 | -€24,103 | -79.5% |
| Deferred charges and accrued income | 490/1 | €3,238 | €6,916 | +€3,678 | +114% |
| Total equity and liabilities | 10/49 | €161,236 | €120,700 | -€40,536 | -25.1% |
| Equity | 10/15 | -€58,366 | -€29,637 | +€28,729 | +49.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,366 | -€49,637 | +€28,729 | +36.7% |
| Amounts payable | 17/49 | €219,601 | €150,337 | -€69,265 | -31.5% |
| Amounts payable after more than one year | 17 | €49,413 | €39,890 | -€9,523 | -19.3% |
| Financial debts | 170/4 | €49,413 | €39,890 | -€9,523 | -19.3% |
| Amounts payable within one year | 42/48 | €165,174 | €101,881 | -€63,293 | -38.3% |
| Current portion of amounts payable after more than one year | 42 | €10,317 | €21,398 | +€11,080 | +107% |
| Trade debts | 44 | €81,743 | €49,126 | -€32,618 | -39.9% |
| Suppliers | 440/4 | €81,743 | €49,126 | -€32,618 | -39.9% |
| Taxes, remuneration and social security | 45 | €17,358 | €13,280 | -€4,079 | -23.5% |
| Taxes | 450/3 | €6,321 | €6,007 | -€314 | -5.0% |
| Remuneration and social security | 454/9 | €11,037 | €7,273 | -€3,765 | -34.1% |
| Other amounts payable | 47/48 | €55,755 | €18,078 | -€37,677 | -67.6% |
| Accrued charges and deferred income | 492/3 | €5,015 | €8,566 | +€3,551 | +70.8% |
| Remuneration, social security and pensions | 62 | €139,901 | €146,286 | +€6,385 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,507 | €24,410 | -€1,097 | -4.3% |
| Other operating charges | 640/8 | €2,142 | €850 | -€1,292 | -60.3% |
| Gross operating margin | 9900 | €161,225 | €202,448 | +€41,223 | +25.6% |
| Operating profit (loss) | 9901 | -€6,326 | €30,902 | +€37,227 | |
| Financial income | 75/76B | €1,058 | €4,580 | +€3,522 | +333% |
| Recurring financial income | 75 | €1,058 | €4,580 | +€3,522 | +333% |
| Financial charges | 65/66B | €5,974 | €6,753 | +€779 | +13.0% |
| Recurring financial charges | 65 | €5,974 | €6,753 | +€779 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | -€11,241 | €28,729 | +€39,970 | |
| Profit (loss) for the period | 9904 | -€11,241 | €28,729 | +€39,970 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,241 | €28,729 | +€39,970 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.