SMEDING BEHEER: 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.
SMEDING BEHEER
Largest movements
- Current investments -€400,000
no longer reported in 2025 (was €400,000)
- Cash +€203,215
up €203,215 (+137%), from €148,694 to €351,910
mainly Current investments (+€400,000) and Depreciation (+€277,285)
- Tangible fixed assets -€152,985
down €152,985 (-3.7%), from €4.1m to €4.0m
of which Land and buildings: -€82,109
- Receivables within one year +€115,954
up €115,954 (+98.8%), from €117,401 to €233,355
of which Other amounts receivable: +€173,796
- Debts after one year -€118,978
down €118,978 (-8.2%), from €1.5m to €1.3m
- Trade debts -€115,141
down €115,141 (-36.9%), from €311,796 to €196,655
- Other operating charges -€52,458
down €52,458 (-61.9%), from €84,706 to €32,247
- Depreciation +€31,078
up €31,078 (+12.6%), from €246,207 to €277,285
- Gross operating margin -€22,989
down €22,989 (-6.7%), from €343,668 to €320,679
- Financial income -€21,149
down €21,149 (-59.5%), from €35,568 to €14,419
of which Non-recurring financial income: -€13,000
- Financial charges +€14,306
up €14,306 (+87.9%), from €16,276 to €30,583
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 | €4,798,889 | €4,565,073 | -€233,816 | -4.9% |
| Fixed assets | 21/28 | €4,132,793 | €3,979,808 | -€152,985 | -3.7% |
| Tangible fixed assets | 22/27 | €4,131,883 | €3,978,898 | -€152,985 | -3.7% |
| Land and buildings | 22 | €3,491,981 | €3,409,873 | -€82,109 | -2.4% |
| Plant, machinery and equipment | 23 | €39,413 | €39,995 | +€581 | +1.5% |
| Furniture and vehicles | 24 | €155,381 | €139,562 | -€15,819 | -10.2% |
| Leasing and similar rights | 25 | €445,108 | €389,469 | -€55,638 | -12.5% |
| Financial fixed assets | 28 | €910 | €910 | = | 0.0% |
| Current assets | 29/58 | €666,095 | €585,264 | -€80,831 | -12.1% |
| Amounts receivable within one year | 40/41 | €117,401 | €233,355 | +€115,954 | +98.8% |
| Trade receivables | 40 | €62,374 | €4,533 | -€57,842 | -92.7% |
| Other amounts receivable | 41 | €55,027 | €228,822 | +€173,796 | +316% |
| Current investments | 50/53 | €400,000 | - | -€400,000 | |
| Cash at bank and in hand | 54/58 | €148,694 | €351,910 | +€203,215 | +137% |
| Total equity and liabilities | 10/49 | €4,798,889 | €4,565,073 | -€233,816 | -4.9% |
| Equity | 10/15 | €1,900,335 | €1,895,318 | -€5,017 | -0.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,881,743 | €1,881,743 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,879,883 | €1,879,883 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€5,017 | -€5,017 | |
| Amounts payable | 17/49 | €2,898,554 | €2,669,755 | -€228,799 | -7.9% |
| Amounts payable after more than one year | 17 | €1,458,065 | €1,339,087 | -€118,978 | -8.2% |
| Financial debts | 170/4 | €1,458,065 | €1,339,087 | -€118,978 | -8.2% |
| Amounts payable within one year | 42/48 | €1,432,705 | €1,319,247 | -€113,458 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €118,047 | €118,978 | +€932 | +0.8% |
| Trade debts | 44 | €311,796 | €196,655 | -€115,141 | -36.9% |
| Suppliers | 440/4 | €311,796 | €196,655 | -€115,141 | -36.9% |
| Taxes, remuneration and social security | 45 | €2,863 | €3,613 | +€751 | +26.2% |
| Taxes | 450/3 | €2,863 | €3,613 | +€751 | +26.2% |
| Other amounts payable | 47/48 | €1,000,000 | €1,000,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €7,783 | €11,421 | +€3,638 | +46.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €246,207 | €277,285 | +€31,078 | +12.6% |
| Other operating charges | 640/8 | €84,706 | €32,247 | -€52,458 | -61.9% |
| Non-recurring operating charges | 66A | €6,751 | - | -€6,751 | |
| Gross operating margin | 9900 | €343,668 | €320,679 | -€22,989 | -6.7% |
| Operating profit (loss) | 9901 | €6,004 | €11,146 | +€5,142 | +85.6% |
| Financial income | 75/76B | €35,568 | €14,419 | -€21,149 | -59.5% |
| Recurring financial income | 75 | €22,568 | €14,419 | -€8,149 | -36.1% |
| Non-recurring financial income | 76B | €13,000 | - | -€13,000 | |
| Financial charges | 65/66B | €16,276 | €30,583 | +€14,306 | +87.9% |
| Recurring financial charges | 65 | €16,276 | €30,583 | +€14,306 | +87.9% |
| Profit (loss) for the period before taxes | 9903 | €25,296 | -€5,017 | -€30,312 | |
| Income taxes | 67/77 | €2,416 | - | -€2,416 | |
| Profit (loss) for the period | 9904 | €22,880 | -€5,017 | -€27,897 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,880 | -€5,017 | -€27,897 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.