SMEETS: what changed
Two fiscal 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.
What changed
SMEETS
NACE 27.110, Manufacture of electrical equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €2.2m-€707,941
Equity
€11.8m
2024 · €11.3m+€453,612
Cash
€6.7m
2024 · €5.3m+€1.4m
Balance sheet total
€15.5m
2024 · €15.8m-€293,532
Largest movements
Assets
- Cash +€1.4m
up €1.4m (+27.0%), from €5.3m to €6.7m
mainly Net result for the year (+€1.5m) and Receivables within one year (+€1.2m)
- Receivables within one year -€1.2m
down €1.2m (-27.8%), from €4.3m to €3.1m
of which Trade receivables: -€1.2m
- Current investments -€749,078
down €749,078 (-99.5%), from €752,848 to €3,770
- Stocks and contracts +€182,694
up €182,694 (+3.5%), from €5.3m to €5.5m
Equity and liabilities
- Other debts -€639,765
down €639,765 (-36.9%), from €1.7m to €1.1m
- Profit (loss) carried forward +€453,612
up €453,612 (+13.5%), from €3.4m to €3.8m
- Trade debts -€308,720
down €308,720 (-12.9%), from €2.4m to €2.1m
Income statement
- Turnover -€3.6m
down €3.6m (-22.5%), from €16.0m to €12.4m
- Goods and materials -€2.8m
down €2.8m (-26.0%), from €10.9m to €8.1m
of which Purchases: -€2.2m
- Taxes -€248,895
down €248,895 (-30.4%), from €819,511 to €570,616
- Financial charges +€211,226
up €211,226 (+229.0%), from €92,234 to €303,460
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.
Result 2024
€2.2m
Turnover
-€3.6m
Other operating income
+€23,560
Goods and materials
+€2.8m
Services and other goods
+€74,751
Staff costs
+€13,264
Depreciation
-€908
Write-downs
-€70,638
Other operating charges
+€37,569
Financial income
-€58,394
Financial charges
-€211,226
Taxes
+€248,895
Result 2025
€1.5m
Cash bridge derived
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.
From operations
+€1.7m
Investment
+€658,983
Financing
-€934,378
Cash 2024
€5.3m
From operations (derived)
+€1.7m
Net result for the year
+€1.5m
Depreciation
+€28,007
Receivables after one year
+€18,213
Stocks and contracts
-€182,694
Receivables within one year
+€1.2m
Deferred charges and accrued income
-€9,162
Trade debts
-€308,720
Tax, wage and social debts
+€51,332
Other debts
-€639,765
Accrued charges and deferred income
-€1,327
Investment (derived)
+€658,983
Investment in fixed assets (net)
-€90,096
Current investments
+€749,078
Financing
-€934,378
Current portion of long-term debt
-€17
Short-term financial debts
+€151,354
Contributions, distributions and other
-€1.1m
Cash 2025
€6.7m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,824,319 | €15,530,787 | -€293,532 | -1.9% |
| Fixed assets | 21/28 | €132,558 | €194,646 | +€62,088 | +46.8% |
| Intangible fixed assets | 21 | - | €8,604 | +€8,604 | |
| Tangible fixed assets | 22/27 | €132,558 | €186,042 | +€53,484 | +40.3% |
| Plant, machinery and equipment | 23 | €13,441 | €7,992 | -€5,450 | -40.5% |
| Furniture and vehicles | 24 | €42,310 | €35,731 | -€6,579 | -15.5% |
| Other tangible fixed assets | 26 | €76,806 | €142,319 | +€65,513 | +85.3% |
| Current assets | 29/58 | €15,691,761 | €15,336,141 | -€355,620 | -2.3% |
| Amounts receivable after more than one year | 29 | €18,213 | - | -€18,213 | |
| Other amounts receivable | 291 | €18,213 | - | -€18,213 | |
| Stocks and contracts in progress | 3 | €5,269,712 | €5,452,406 | +€182,694 | +3.5% |
| Stocks | 30/36 | €5,269,712 | €5,452,406 | +€182,694 | +3.5% |
| Goods purchased for resale | 34 | €5,269,712 | €5,452,406 | +€182,694 | +3.5% |
| Amounts receivable within one year | 40/41 | €4,344,937 | €3,138,547 | -€1.2m | -27.8% |
| Trade receivables | 40 | €4,326,411 | €3,128,647 | -€1.2m | -27.7% |
| Other amounts receivable | 41 | €18,526 | €9,900 | -€8,626 | -46.6% |
| Current investments | 50/53 | €752,848 | €3,770 | -€749,078 | -99.5% |
| Other investments | 51/53 | €752,848 | €3,770 | -€749,078 | -99.5% |
| Cash at bank and in hand | 54/58 | €5,276,929 | €6,703,135 | +€1.4m | +27.0% |
| Deferred charges and accrued income | 490/1 | €29,121 | €38,283 | +€9,162 | +31.5% |
| Total equity and liabilities | 10/49 | €15,824,319 | €15,530,787 | -€293,532 | -1.9% |
| Equity | 10/15 | €11,323,816 | €11,777,428 | +€453,612 | +4.0% |
| Contributions | 10/11 | €128,905 | €128,905 | = | 0.0% |
| Capital | 10 | €128,905 | €128,905 | = | 0.0% |
| Issued capital | 100 | €128,905 | €128,905 | = | 0.0% |
| Reserves | 13 | €7,823,190 | €7,823,190 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,890 | €12,890 | = | 0.0% |
| Legal reserve | 130 | €12,890 | €12,890 | = | 0.0% |
| Distributable reserves | 133 | €7,810,300 | €7,810,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,371,721 | €3,825,332 | +€453,612 | +13.5% |
| Amounts payable | 17/49 | €4,500,503 | €3,753,359 | -€747,144 | -16.6% |
| Amounts payable within one year | 42/48 | €4,499,176 | €3,753,359 | -€745,816 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | €6,341 | €6,324 | -€17 | -0.3% |
| Financial debts | 43 | - | €151,354 | +€151,354 | |
| Credit institutions | 430/8 | - | €151,354 | +€151,354 | |
| Trade debts | 44 | €2,390,461 | €2,081,741 | -€308,720 | -12.9% |
| Suppliers | 440/4 | €2,390,461 | €2,081,741 | -€308,720 | -12.9% |
| Taxes, remuneration and social security | 45 | €370,220 | €421,553 | +€51,332 | +13.9% |
| Taxes | 450/3 | €310,334 | €357,665 | +€47,331 | +15.3% |
| Remuneration and social security | 454/9 | €59,886 | €63,888 | +€4,002 | +6.7% |
| Other amounts payable | 47/48 | €1,732,153 | €1,092,388 | -€639,765 | -36.9% |
| Accrued charges and deferred income | 492/3 | €1,327 | - | -€1,327 | |
| Operating income | 70/76A | €16,130,028 | €12,549,475 | -€3.6m | -22.2% |
| Turnover | 70 | €15,991,722 | €12,387,608 | -€3.6m | -22.5% |
| Other operating income | 74 | €138,307 | €161,867 | +€23,560 | +17.0% |
| Operating charges | 60/66A | €13,212,517 | €10,319,181 | -€2.9m | -21.9% |
| Goods for resale, raw materials and consumables | 60 | €10,923,106 | €8,083,808 | -€2.8m | -26.0% |
| Purchases | 600/8 | €10,479,819 | €8,266,502 | -€2.2m | -21.1% |
| Change in stocks: decrease (increase) | 609 | €443,287 | -€182,694 | -€625,981 | |
| Services and other goods | 61 | €1,412,639 | €1,337,888 | -€74,751 | -5.3% |
| Remuneration, social security and pensions | 62 | €671,313 | €658,050 | -€13,264 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,099 | €28,007 | +€908 | +3.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €70,638 | +€70,638 | |
| Other operating charges | 640/8 | €178,360 | €140,791 | -€37,569 | -21.1% |
| Operating profit (loss) | 9901 | €2,917,511 | €2,230,295 | -€687,217 | -23.6% |
| Financial income | 75/76B | €241,501 | €183,107 | -€58,394 | -24.2% |
| Recurring financial income | 75 | €241,501 | €183,107 | -€58,394 | -24.2% |
| Income from current assets | 751 | €40,471 | €15,609 | -€24,861 | -61.4% |
| Other financial income | 752/9 | €201,031 | €167,498 | -€33,533 | -16.7% |
| Financial charges | 65/66B | €92,234 | €303,460 | +€211,226 | +229.0% |
| Recurring financial charges | 65 | €92,234 | €303,460 | +€211,226 | +229.0% |
| Debt charges | 650 | €690 | €6,118 | +€5,428 | +786.9% |
| Other financial charges | 652/9 | €91,544 | €297,341 | +€205,797 | +224.8% |
| Profit (loss) for the period before taxes | 9903 | €3,066,779 | €2,109,942 | -€956,837 | -31.2% |
| Income taxes | 67/77 | €819,511 | €570,616 | -€248,895 | -30.4% |
| Taxes | 670/3 | €819,511 | €570,616 | -€248,895 | -30.4% |
| Profit (loss) for the period | 9904 | €2,247,267 | €1,539,326 | -€707,941 | -31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,247,267 | €1,539,326 | -€707,941 | -31.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.