Smeerkaat: 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.
Smeerkaat
Largest movements
- Cash +€27,131
up €27,131 (+50.3%), from €53,927 to €81,059
mainly Net result for the year (+€29,768) and Depreciation (+€10,544)
- Tangible fixed assets +€13,006
up €13,006 (+341%), from €3,819 to €16,825
- Intangible fixed assets -€7,200
down €7,200 (-11.1%), from €64,800 to €57,600
- Reserves +€29,768
up €29,768 (+95.0%), from €31,349 to €61,117
- Accrued charges and deferred income +€2,926
new in 2025: €2,926
- Other debts -€1,694
down €1,694 (-2.8%), from €60,842 to €59,147
- Gross operating margin +€9,723
up €9,723 (+11.4%), from €85,616 to €95,340
- Staff costs +€7,260
up €7,260 (+25.0%), from €29,024 to €36,284
- Financial charges +€4,299
up €4,299 (+246%), from €1,748 to €6,047
- Depreciation +€2,395
up €2,395 (+29.4%), from €8,149 to €10,544
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 | €126,717 | €159,329 | +€32,611 | +25.7% |
| Fixed assets | 21/28 | €68,619 | €74,425 | +€5,806 | +8.5% |
| Intangible fixed assets | 21 | €64,800 | €57,600 | -€7,200 | -11.1% |
| Tangible fixed assets | 22/27 | €3,819 | €16,825 | +€13,006 | +341% |
| Furniture and vehicles | 24 | €3,819 | €16,825 | +€13,006 | +341% |
| Current assets | 29/58 | €58,099 | €84,904 | +€26,805 | +46.1% |
| Stocks and contracts in progress | 3 | €3,000 | €3,000 | = | 0.0% |
| Stocks | 30/36 | €3,000 | €3,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €16 | €300 | +€284 | +1,768% |
| Trade receivables | 40 | - | €300 | +€300 | |
| Other amounts receivable | 41 | €16 | - | -€16 | |
| Cash at bank and in hand | 54/58 | €53,927 | €81,059 | +€27,131 | +50.3% |
| Deferred charges and accrued income | 490/1 | €1,155 | €545 | -€610 | -52.8% |
| Total equity and liabilities | 10/49 | €126,717 | €159,329 | +€32,611 | +25.7% |
| Equity | 10/15 | €41,397 | €71,165 | +€29,768 | +71.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €31,349 | €61,117 | +€29,768 | +95.0% |
| Distributable reserves | 133 | €31,349 | €61,117 | +€29,768 | +95.0% |
| Profit (loss) carried forward | 14 | €7,548 | €7,548 | = | 0.0% |
| Amounts payable | 17/49 | €85,320 | €88,164 | +€2,844 | +3.3% |
| Amounts payable within one year | 42/48 | €85,320 | €85,238 | -€82 | -0.1% |
| Trade debts | 44 | €2,105 | €3,413 | +€1,308 | +62.1% |
| Suppliers | 440/4 | €2,105 | €3,413 | +€1,308 | +62.1% |
| Taxes, remuneration and social security | 45 | €22,374 | €22,677 | +€304 | +1.4% |
| Taxes | 450/3 | €18,680 | €18,107 | -€573 | -3.1% |
| Remuneration and social security | 454/9 | €3,694 | €4,571 | +€877 | +23.7% |
| Other amounts payable | 47/48 | €60,842 | €59,147 | -€1,694 | -2.8% |
| Accrued charges and deferred income | 492/3 | - | €2,926 | +€2,926 | |
| Remuneration, social security and pensions | 62 | €29,024 | €36,284 | +€7,260 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,149 | €10,544 | +€2,395 | +29.4% |
| Other operating charges | 640/8 | €1,256 | €967 | -€289 | -23.0% |
| Gross operating margin | 9900 | €85,616 | €95,340 | +€9,723 | +11.4% |
| Operating profit (loss) | 9901 | €47,187 | €47,545 | +€357 | +0.8% |
| Financial income | 75/76B | €193 | €316 | +€123 | +63.8% |
| Recurring financial income | 75 | €193 | €316 | +€123 | +63.8% |
| Financial charges | 65/66B | €1,748 | €6,047 | +€4,299 | +246% |
| Recurring financial charges | 65 | €1,748 | €6,047 | +€4,299 | +246% |
| Profit (loss) for the period before taxes | 9903 | €45,633 | €41,814 | -€3,819 | -8.4% |
| Income taxes | 67/77 | €12,683 | €12,046 | -€637 | -5.0% |
| Profit (loss) for the period | 9904 | €32,949 | €29,768 | -€3,181 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €32,949 | €29,768 | -€3,181 | -9.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.