SMEETS ANDRE: 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.
SMEETS ANDRE
Largest movements
- Tangible fixed assets -€31,917
down €31,917 (-40.8%), from €78,281 to €46,363
of which Leasing and similar rights: -€23,912
- Cash -€23,226
down €23,226 (-33.0%), from €70,407 to €47,181
mainly Net result for the year (-€31,925) and Receivables within one year (-€16,076)
- Receivables within one year +€16,076
up €16,076 (+68.8%), from €23,372 to €39,448
of which Trade receivables: +€10,791
- Profit (loss) carried forward -€31,925
down €31,925 (-38.5%), from €82,937 to €51,012
- Debts after one year -€13,129
down €13,129 (-34.3%), from €38,325 to €25,196
- Trade debts +€10,257
up €10,257 (+413.9%), from €2,478 to €12,736
- Tax, wage and social debts -€7,243
down €7,243 (-71.8%), from €10,091 to €2,848
of which Taxes: -€6,918
- Advances received +€3,251
new in 2025: €3,251
- Gross operating margin -€59,243
down €59,243, from €58,639 to -€604
- Taxes -€10,425
down €10,425, from €5,750 to -€4,675
- Financial charges +€1,640
up €1,640 (+83.6%), from €1,961 to €3,600
- Other operating charges -€1,236
down €1,236 (-75.6%), from €1,636 to €400
- Depreciation -€759
down €759 (-2.3%), from €32,677 to €31,917
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 | €172,484 | €133,417 | -€39,067 | -22.6% |
| Fixed assets | 21/28 | €78,705 | €46,788 | -€31,917 | -40.6% |
| Tangible fixed assets | 22/27 | €78,281 | €46,363 | -€31,917 | -40.8% |
| Land and buildings | 22 | €5,826 | - | -€5,826 | |
| Plant, machinery and equipment | 23 | €6,808 | €4,629 | -€2,179 | -32.0% |
| Leasing and similar rights | 25 | €65,647 | €41,735 | -€23,912 | -36.4% |
| Financial fixed assets | 28 | €424 | €424 | = | 0.0% |
| Current assets | 29/58 | €93,779 | €86,630 | -€7,149 | -7.6% |
| Amounts receivable within one year | 40/41 | €23,372 | €39,448 | +€16,076 | +68.8% |
| Trade receivables | 40 | €18,663 | €29,454 | +€10,791 | +57.8% |
| Other amounts receivable | 41 | €4,709 | €9,995 | +€5,286 | +112.2% |
| Cash at bank and in hand | 54/58 | €70,407 | €47,181 | -€23,226 | -33.0% |
| Total equity and liabilities | 10/49 | €172,484 | €133,417 | -€39,067 | -22.6% |
| Equity | 10/15 | €103,397 | €71,472 | -€31,925 | -30.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,937 | €51,012 | -€31,925 | -38.5% |
| Amounts payable | 17/49 | €69,087 | €61,945 | -€7,142 | -10.3% |
| Amounts payable after more than one year | 17 | €38,325 | €25,196 | -€13,129 | -34.3% |
| Financial debts | 170/4 | €38,325 | €25,196 | -€13,129 | -34.3% |
| Amounts payable within one year | 42/48 | €30,762 | €36,749 | +€5,987 | +19.5% |
| Current portion of amounts payable after more than one year | 42 | €16,774 | €14,459 | -€2,314 | -13.8% |
| Trade debts | 44 | €2,478 | €12,736 | +€10,257 | +413.9% |
| Suppliers | 440/4 | €2,478 | €12,736 | +€10,257 | +413.9% |
| Advances received on contracts in progress | 46 | - | €3,251 | +€3,251 | |
| Taxes, remuneration and social security | 45 | €10,091 | €2,848 | -€7,243 | -71.8% |
| Taxes | 450/3 | €7,803 | €885 | -€6,918 | -88.7% |
| Remuneration and social security | 454/9 | €2,288 | €1,963 | -€325 | -14.2% |
| Other amounts payable | 47/48 | €1,419 | €3,455 | +€2,037 | +143.5% |
| Remuneration, social security and pensions | 62 | - | €264 | +€264 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,677 | €31,917 | -€759 | -2.3% |
| Other operating charges | 640/8 | €1,636 | €400 | -€1,236 | -75.6% |
| Gross operating margin | 9900 | €58,639 | -€604 | -€59,243 | |
| Operating profit (loss) | 9901 | €24,327 | -€33,184 | -€57,511 | |
| Financial income | 75/76B | €215 | €185 | -€31 | -14.2% |
| Recurring financial income | 75 | €215 | €185 | -€31 | -14.2% |
| Financial charges | 65/66B | €1,961 | €3,600 | +€1,640 | +83.6% |
| Recurring financial charges | 65 | €1,961 | €3,600 | +€1,640 | +83.6% |
| Profit (loss) for the period before taxes | 9903 | €22,581 | -€36,600 | -€59,181 | |
| Income taxes | 67/77 | €5,750 | -€4,675 | -€10,425 | |
| Profit (loss) for the period | 9904 | €16,831 | -€31,925 | -€48,756 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,831 | -€31,925 | -€48,756 |
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 5 October 2026 via checked.be.