Smedts consult: 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.
Smedts consult
Largest movements
- Tangible fixed assets -€45,560
down €45,560 (-9.6%), from €475,017 to €429,456
- Receivables within one year +€29,526
up €29,526 (+91.5%), from €32,259 to €61,785
of which Trade receivables: +€14,823
- Cash +€10,936
up €10,936 (+27.9%), from €39,207 to €50,143
mainly Depreciation (+€45,560) and Net result for the year (+€30,000)
- Debts after one year -€48,696
down €48,696 (-19.1%), from €255,407 to €206,711
- Reserves +€30,000
up €30,000 (+15.0%), from €200,343 to €230,343
- Trade debts +€12,021
up €12,021 (+184%), from €6,544 to €18,564
- Gross operating margin +€18,693
up €18,693 (+23.2%), from €80,646 to €99,338
- Taxes +€5,507
up €5,507 (+77.3%), from €7,122 to €12,629
- Depreciation +€1,458
up €1,458 (+3.3%), from €44,102 to €45,560
- Financial charges -€1,117
down €1,117 (-9.1%), from €12,256 to €11,139
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 | €592,337 | €589,241 | -€3,097 | -0.5% |
| Fixed assets | 21/28 | €475,017 | €429,456 | -€45,560 | -9.6% |
| Tangible fixed assets | 22/27 | €475,017 | €429,456 | -€45,560 | -9.6% |
| Land and buildings | 22 | €389,136 | €366,715 | -€22,421 | -5.8% |
| Plant, machinery and equipment | 23 | €2,565 | €1,862 | -€702 | -27.4% |
| Furniture and vehicles | 24 | €83,316 | €60,879 | -€22,437 | -26.9% |
| Current assets | 29/58 | €117,321 | €159,784 | +€42,463 | +36.2% |
| Amounts receivable after more than one year | 29 | €45,000 | €45,000 | = | 0.0% |
| Other amounts receivable | 291 | €45,000 | €45,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €32,259 | €61,785 | +€29,526 | +91.5% |
| Trade receivables | 40 | €0 | €14,823 | +€14,823 | |
| Other amounts receivable | 41 | €32,259 | €46,963 | +€14,703 | +45.6% |
| Cash at bank and in hand | 54/58 | €39,207 | €50,143 | +€10,936 | +27.9% |
| Deferred charges and accrued income | 490/1 | €855 | €2,856 | +€2,001 | +234% |
| Total equity and liabilities | 10/49 | €592,337 | €589,241 | -€3,097 | -0.5% |
| Equity | 10/15 | €256,119 | €286,119 | +€30,000 | +11.7% |
| Contributions | 10/11 | €55,776 | €55,776 | = | 0.0% |
| Reserves | 13 | €200,343 | €230,343 | +€30,000 | +15.0% |
| Distributable reserves | 133 | €200,343 | €230,343 | +€30,000 | +15.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €336,218 | €303,122 | -€33,096 | -9.8% |
| Amounts payable after more than one year | 17 | €255,407 | €206,711 | -€48,696 | -19.1% |
| Financial debts | 170/4 | €255,407 | €206,711 | -€48,696 | -19.1% |
| Amounts payable within one year | 42/48 | €80,811 | €96,411 | +€15,600 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €47,396 | €48,817 | +€1,420 | +3.0% |
| Financial debts | 43 | €11,787 | €15,000 | +€3,213 | +27.3% |
| Credit institutions | 430/8 | €11,787 | €15,000 | +€3,213 | +27.3% |
| Trade debts | 44 | €6,544 | €18,564 | +€12,021 | +184% |
| Suppliers | 440/4 | €6,544 | €18,564 | +€12,021 | +184% |
| Taxes, remuneration and social security | 45 | €14,501 | €14,030 | -€471 | -3.2% |
| Taxes | 450/3 | €13,301 | €14,030 | +€729 | +5.5% |
| Remuneration and social security | 454/9 | €1,200 | €0 | -€1,200 | -100% |
| Other amounts payable | 47/48 | €583 | €0 | -€583 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,102 | €45,560 | +€1,458 | +3.3% |
| Other operating charges | 640/8 | €3,517 | €3,143 | -€374 | -10.6% |
| Gross operating margin | 9900 | €80,646 | €99,338 | +€18,693 | +23.2% |
| Operating profit (loss) | 9901 | €33,027 | €50,635 | +€17,608 | +53.3% |
| Financial income | 75/76B | €2,572 | €3,133 | +€561 | +21.8% |
| Recurring financial income | 75 | €2,572 | €3,133 | +€561 | +21.8% |
| Financial charges | 65/66B | €12,256 | €11,139 | -€1,117 | -9.1% |
| Recurring financial charges | 65 | €12,256 | €11,139 | -€1,117 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €23,343 | €42,629 | +€19,286 | +82.6% |
| Income taxes | 67/77 | €7,122 | €12,629 | +€5,507 | +77.3% |
| Profit (loss) for the period | 9904 | €16,221 | €30,000 | +€13,779 | +84.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,221 | €30,000 | +€13,779 | +84.9% |
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 20 October 2026 via checked.be.