SMECCO: 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.
SMECCO
Largest movements
- Cash +€77,217
up €77,217 (+323%), from €23,871 to €101,088
mainly Net result for the year (+€129,536) and Depreciation (+€10,783)
- Tangible fixed assets +€29,233
up €29,233 (+81.6%), from €35,807 to €65,040
of which Furniture and vehicles: +€32,882
- Receivables within one year +€6,900
up €6,900 (+3,949%), from €175 to €7,075
of which Other amounts receivable: +€7,075
- Reserves +€129,536
up €129,536 (+117%), from €110,348 to €239,884
- Debts after one year -€11,786
down €11,786 (-90.9%), from €12,971 to €1,185
- Gross operating margin +€117,494
up €117,494 (+168%), from €69,825 to €187,318
- Taxes +€26,838
up €26,838 (+149%), from €17,953 to €44,791
- Depreciation +€2,237
up €2,237 (+26.2%), from €8,546 to €10,783
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 | €164,832 | €280,916 | +€116,084 | +70.4% |
| Fixed assets | 21/28 | €35,807 | €66,188 | +€30,382 | +84.8% |
| Intangible fixed assets | 21 | - | €1,149 | +€1,149 | |
| Tangible fixed assets | 22/27 | €35,807 | €65,040 | +€29,233 | +81.6% |
| Plant, machinery and equipment | 23 | €3,047 | €7,537 | +€4,491 | +147% |
| Furniture and vehicles | 24 | - | €32,882 | +€32,882 | |
| Leasing and similar rights | 25 | €32,760 | €24,620 | -€8,140 | -24.8% |
| Current assets | 29/58 | €129,025 | €214,727 | +€85,703 | +66.4% |
| Amounts receivable within one year | 40/41 | €175 | €7,075 | +€6,900 | +3,949% |
| Trade receivables | 40 | €175 | €0 | -€175 | -100% |
| Other amounts receivable | 41 | - | €7,075 | +€7,075 | |
| Current investments | 50/53 | €104,980 | €105,596 | +€617 | +0.6% |
| Cash at bank and in hand | 54/58 | €23,871 | €101,088 | +€77,217 | +323% |
| Deferred charges and accrued income | 490/1 | - | €969 | +€969 | |
| Total equity and liabilities | 10/49 | €164,832 | €280,916 | +€116,084 | +70.4% |
| Equity | 10/15 | €115,348 | €244,884 | +€129,536 | +112% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €110,348 | €239,884 | +€129,536 | +117% |
| Distributable reserves | 133 | €110,348 | €239,884 | +€129,536 | +117% |
| Amounts payable | 17/49 | €49,483 | €36,031 | -€13,452 | -27.2% |
| Amounts payable after more than one year | 17 | €12,971 | €1,185 | -€11,786 | -90.9% |
| Financial debts | 170/4 | €12,971 | €1,185 | -€11,786 | -90.9% |
| Amounts payable within one year | 42/48 | €35,575 | €34,846 | -€728 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €11,437 | €11,786 | +€349 | +3.0% |
| Trade debts | 44 | €1,944 | €3,377 | +€1,433 | +73.7% |
| Suppliers | 440/4 | €1,944 | €3,377 | +€1,433 | +73.7% |
| Taxes, remuneration and social security | 45 | €22,168 | €19,684 | -€2,484 | -11.2% |
| Taxes | 450/3 | €22,168 | €19,684 | -€2,484 | -11.2% |
| Other amounts payable | 47/48 | €26 | €0 | -€26 | -100% |
| Accrued charges and deferred income | 492/3 | €938 | €0 | -€938 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,546 | €10,783 | +€2,237 | +26.2% |
| Other operating charges | 640/8 | €759 | €434 | -€324 | -42.7% |
| Gross operating margin | 9900 | €69,825 | €187,318 | +€117,494 | +168% |
| Operating profit (loss) | 9901 | €60,520 | €176,101 | +€115,581 | +191% |
| Financial income | 75/76B | €965 | €1,109 | +€144 | +14.9% |
| Recurring financial income | 75 | €965 | €1,109 | +€144 | +14.9% |
| Financial charges | 65/66B | €3,517 | €2,882 | -€634 | -18.0% |
| Recurring financial charges | 65 | €3,517 | €2,882 | -€634 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €57,968 | €174,327 | +€116,359 | +201% |
| Income taxes | 67/77 | €17,953 | €44,791 | +€26,838 | +149% |
| Profit (loss) for the period | 9904 | €40,015 | €129,536 | +€89,521 | +224% |
| Profit (loss) for the period to be appropriated | 9905 | €40,015 | €129,536 | +€89,521 | +224% |
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 13 October 2026 via checked.be.