SMEER'M: what changed
SMEER'M
Largest movements
- Tangible fixed assets +€10,722
up €10,722 (+305%), from €3,520 to €14,242
of which Land and buildings: +€9,989
- Cash +€7,856
up €7,856 (+95.7%), from €8,206 to €16,062
mainly Other debts (+€50,270) and Depreciation (+€8,136)
- Intangible fixed assets -€5,400
down €5,400 (-12.5%), from €43,200 to €37,800
- Receivables within one year -€2,953
down €2,953 (-36.8%), from €8,031 to €5,079
of which Trade receivables: -€2,233
- Profit (loss) carried forward -€51,873
down €51,873 (-116%), from -€44,686 to -€96,559
- Other debts +€50,270
up €50,270 (+107%), from €46,920 to €97,190
- Trade debts +€6,114
up €6,114 (+27.6%), from €22,180 to €28,294
- Tax, wage and social debts +€5,086
up €5,086 (+169%), from €3,014 to €8,100
- Staff costs +€20,903
up €20,903 (+66.6%), from €31,397 to €52,300
- Gross operating margin -€2,908
down €2,908 (-21.0%), from €13,855 to €10,946
- Depreciation +€1,582
up €1,582 (+24.1%), from €6,555 to €8,136
- Other operating charges -€1,431
down €1,431 (-46.0%), from €3,112 to €1,681
- Financial income -€278
down €278 (-80.3%), from €346 to €68
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €71,929 | €81,526 | +€9,597 | +13.3% |
| Fixed assets | 21/28 | €46,720 | €52,042 | +€5,322 | +11.4% |
| Intangible fixed assets | 21 | €43,200 | €37,800 | -€5,400 | -12.5% |
| Tangible fixed assets | 22/27 | €3,520 | €14,242 | +€10,722 | +305% |
| Land and buildings | 22 | - | €9,989 | +€9,989 | |
| Plant, machinery and equipment | 23 | €3,520 | €4,253 | +€734 | +20.8% |
| Current assets | 29/58 | €25,209 | €29,484 | +€4,275 | +17.0% |
| Stocks and contracts in progress | 3 | €8,335 | €7,596 | -€739 | -8.9% |
| Stocks | 30/36 | €8,335 | €7,596 | -€739 | -8.9% |
| Amounts receivable within one year | 40/41 | €8,031 | €5,079 | -€2,953 | -36.8% |
| Trade receivables | 40 | €6,081 | €3,848 | -€2,233 | -36.7% |
| Other amounts receivable | 41 | €1,950 | €1,231 | -€719 | -36.9% |
| Cash at bank and in hand | 54/58 | €8,206 | €16,062 | +€7,856 | +95.7% |
| Deferred charges and accrued income | 490/1 | €636 | €747 | +€111 | +17.4% |
| Total equity and liabilities | 10/49 | €71,929 | €81,526 | +€9,597 | +13.3% |
| Equity | 10/15 | -€186 | -€52,059 | -€51,873 | -27,944% |
| Contributions | 10/11 | €44,500 | €44,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,686 | -€96,559 | -€51,873 | -116% |
| Amounts payable | 17/49 | €72,114 | €133,585 | +€61,470 | +85.2% |
| Amounts payable within one year | 42/48 | €72,114 | €133,585 | +€61,470 | +85.2% |
| Trade debts | 44 | €22,180 | €28,294 | +€6,114 | +27.6% |
| Suppliers | 440/4 | €22,180 | €28,294 | +€6,114 | +27.6% |
| Taxes, remuneration and social security | 45 | €3,014 | €8,100 | +€5,086 | +169% |
| Remuneration and social security | 454/9 | €3,014 | €8,100 | +€5,086 | +169% |
| Other amounts payable | 47/48 | €46,920 | €97,190 | +€50,270 | +107% |
| Remuneration, social security and pensions | 62 | €31,397 | €52,300 | +€20,903 | +66.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,555 | €8,136 | +€1,582 | +24.1% |
| Other operating charges | 640/8 | €3,112 | €1,681 | -€1,431 | -46.0% |
| Gross operating margin | 9900 | €13,855 | €10,946 | -€2,908 | -21.0% |
| Operating profit (loss) | 9901 | -€27,210 | -€51,172 | -€23,962 | -88.1% |
| Financial income | 75/76B | €346 | €68 | -€278 | -80.3% |
| Recurring financial income | 75 | €346 | €68 | -€278 | -80.3% |
| Financial charges | 65/66B | €837 | €770 | -€68 | -8.1% |
| Recurring financial charges | 65 | €837 | €770 | -€68 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | -€27,701 | -€51,873 | -€24,172 | -87.3% |
| Profit (loss) for the period | 9904 | -€27,701 | -€51,873 | -€24,172 | -87.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,701 | -€51,873 | -€24,172 | -87.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.