SMEETS: 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.
SMEETS
Largest movements
- Cash -€107,143
down €107,143 (-76.3%), from €140,489 to €33,347
mainly Debts after one year (-€80,000) and Net result for the year (-€23,038)
- Receivables within one year -€16,270
down €16,270 (-74.1%), from €21,953 to €5,683
of which Trade receivables: -€20,614
- Tangible fixed assets -€14,717
down €14,717 (-26.9%), from €54,671 to €39,954
of which Furniture and vehicles: -€12,175
- Deferred charges and accrued income +€5,713
up €5,713 (+396.2%), from €1,442 to €7,154
- Debts after one year -€80,000
no longer reported in 2025 (was €80,000)
- Reserves -€23,038
down €23,038 (-28.3%), from €81,435 to €58,397
- Other debts -€17,097
down €17,097 (-88.6%), from €19,299 to €2,203
- Tax, wage and social debts -€6,858
no longer reported in 2025 (was €6,858)
- Trade debts -€5,142
down €5,142 (-49.4%), from €10,402 to €5,260
- Gross operating margin -€99,888
down €99,888, from €95,030 to -€4,858
- Taxes -€18,683
down €18,683 (-96.6%), from €19,342 to €659
- Depreciation +€7,431
up €7,431 (+85.3%), from €8,712 to €16,143
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €218,555 | €86,137 | -€132,417 | -60.6% |
| Fixed assets | 21/28 | €54,671 | €39,954 | -€14,717 | -26.9% |
| Tangible fixed assets | 22/27 | €54,671 | €39,954 | -€14,717 | -26.9% |
| Land and buildings | 22 | €16,153 | €13,953 | -€2,200 | -13.6% |
| Plant, machinery and equipment | 23 | €1,635 | €1,293 | -€342 | -20.9% |
| Furniture and vehicles | 24 | €36,883 | €24,708 | -€12,175 | -33.0% |
| Current assets | 29/58 | €163,884 | €46,184 | -€117,700 | -71.8% |
| Amounts receivable within one year | 40/41 | €21,953 | €5,683 | -€16,270 | -74.1% |
| Trade receivables | 40 | €20,614 | - | -€20,614 | |
| Other amounts receivable | 41 | €1,339 | €5,683 | +€4,344 | +324.4% |
| Cash at bank and in hand | 54/58 | €140,489 | €33,347 | -€107,143 | -76.3% |
| Deferred charges and accrued income | 490/1 | €1,442 | €7,154 | +€5,713 | +396.2% |
| Total equity and liabilities | 10/49 | €218,555 | €86,137 | -€132,417 | -60.6% |
| Equity | 10/15 | €100,035 | €76,997 | -€23,038 | -23.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €81,435 | €58,397 | -€23,038 | -28.3% |
| Distributable reserves | 133 | €81,435 | €58,397 | -€23,038 | -28.3% |
| Amounts payable | 17/49 | €118,520 | €9,140 | -€109,379 | -92.3% |
| Amounts payable after more than one year | 17 | €80,000 | - | -€80,000 | |
| Other amounts payable | 178/9 | €80,000 | - | -€80,000 | |
| Amounts payable within one year | 42/48 | €38,520 | €9,140 | -€29,379 | -76.3% |
| Financial debts | 43 | €1,960 | €1,677 | -€283 | -14.4% |
| Credit institutions | 430/8 | €1,960 | €1,677 | -€283 | -14.4% |
| Trade debts | 44 | €10,402 | €5,260 | -€5,142 | -49.4% |
| Suppliers | 440/4 | €10,402 | €5,260 | -€5,142 | -49.4% |
| Taxes, remuneration and social security | 45 | €6,858 | - | -€6,858 | |
| Taxes | 450/3 | €6,858 | - | -€6,858 | |
| Other amounts payable | 47/48 | €19,299 | €2,203 | -€17,097 | -88.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,712 | €16,143 | +€7,431 | +85.3% |
| Other operating charges | 640/8 | €302 | €706 | +€405 | +134.3% |
| Gross operating margin | 9900 | €95,030 | -€4,858 | -€99,888 | |
| Operating profit (loss) | 9901 | €86,017 | -€21,707 | -€107,724 | |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €277 | €672 | +€395 | +142.4% |
| Recurring financial charges | 65 | €277 | €672 | +€395 | +142.4% |
| Profit (loss) for the period before taxes | 9903 | €85,745 | -€22,379 | -€108,123 | |
| Income taxes | 67/77 | €19,342 | €659 | -€18,683 | -96.6% |
| Profit (loss) for the period | 9904 | €66,402 | -€23,038 | -€89,441 | |
| Profit (loss) for the period to be appropriated | 9905 | €66,402 | -€23,038 | -€89,441 |
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 12 October 2026 via checked.be.