SMEETS & ZOON: what changed
What changed
SMEETS & ZOON
NACE 77.320, Rental and leasing activities
filed annual accounts (NBB)
Net result for the year
€85,125
2024 · €141,549-€56,425
Equity
€966,397
2024 · €881,272+€85,125
Cash
€177,099
2024 · €157,947+€19,152
Balance sheet total
€1.7m
2024 · €1.8m-€42,123
Largest movements
Assets
- Receivables within one year -€104,095
down €104,095 (-21.1%), from €492,977 to €388,882
of which Trade receivables: -€75,303
- Current investments +€28,983
up €28,983 (+6.0%), from €480,746 to €509,729
- Cash +€19,152
up €19,152 (+12.1%), from €157,947 to €177,099
mainly Depreciation (+€286,448) and Receivables within one year (+€104,095)
Equity and liabilities
- Trade debts -€120,748
down €120,748 (-51.6%), from €234,233 to €113,485
- Reserves +€85,125
up €85,125 (+9.9%), from €862,272 to €947,397
of which Distributable reserves: +€62,153
Income statement
- Financial charges +€73,892
up €73,892, from -€43,937 to €29,955
- Gross operating margin +€62,299
up €62,299 (+8.4%), from €742,857 to €805,156
- Staff costs +€36,338
up €36,338 (+10.5%), from €347,650 to €383,988
- Depreciation +€18,372
up €18,372 (+6.9%), from €268,076 to €286,448
- Taxes -€17,028
down €17,028 (-54.7%), from €31,103 to €14,075
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.
Result 2024
€141,549
Gross operating margin
+€62,299
Staff costs
-€36,338
Depreciation
-€18,372
Other operating charges
-€3,628
Financial income
+€5,760
Financial charges
-€73,892
Taxes
+€17,028
Deferred taxes and other
-€9,283
Result 2025
€85,125
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€351,258
Investment
-€323,604
Financing
-€8,502
Cash 2024
€157,947
From operations (derived)
+€351,258
Net result for the year
+€85,125
Depreciation
+€286,448
Stocks and contracts
-€1,660
Receivables within one year
+€104,095
Deferred charges and accrued income
-€4,004
Provisions
+€5,743
Trade debts
-€120,748
Tax, wage and social debts
-€1,191
Other debts
-€436
Accrued charges and deferred income
-€2,113
Investment (derived)
-€323,604
Investment in fixed assets (net)
-€294,621
Current investments
-€28,983
Financing
-€8,502
Debts after one year
-€16,773
Current portion of long-term debt
+€8,271
Cash 2025
€177,099
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,769,108 | €1,726,985 | -€42,123 | -2.4% |
| Fixed assets | 21/28 | €574,530 | €582,703 | +€8,173 | +1.4% |
| Tangible fixed assets | 22/27 | €561,985 | €570,158 | +€8,173 | +1.5% |
| Land and buildings | 22 | €51,662 | €42,639 | -€9,023 | -17.5% |
| Plant, machinery and equipment | 23 | €294,893 | €195,556 | -€99,337 | -33.7% |
| Furniture and vehicles | 24 | €86,982 | €22,879 | -€64,103 | -73.7% |
| Leasing and similar rights | 25 | €128,448 | €309,084 | +€180,636 | +141% |
| Financial fixed assets | 28 | €12,545 | €12,545 | = | 0.0% |
| Current assets | 29/58 | €1,194,579 | €1,144,282 | -€50,296 | -4.2% |
| Stocks and contracts in progress | 3 | €16,880 | €18,540 | +€1,660 | +9.8% |
| Stocks | 30/36 | €16,880 | €18,540 | +€1,660 | +9.8% |
| Amounts receivable within one year | 40/41 | €492,977 | €388,882 | -€104,095 | -21.1% |
| Trade receivables | 40 | €425,682 | €350,379 | -€75,303 | -17.7% |
| Other amounts receivable | 41 | €67,295 | €38,503 | -€28,793 | -42.8% |
| Current investments | 50/53 | €480,746 | €509,729 | +€28,983 | +6.0% |
| Cash at bank and in hand | 54/58 | €157,947 | €177,099 | +€19,152 | +12.1% |
| Deferred charges and accrued income | 490/1 | €46,028 | €50,032 | +€4,004 | +8.7% |
| Total equity and liabilities | 10/49 | €1,769,108 | €1,726,985 | -€42,123 | -2.4% |
| Equity | 10/15 | €881,272 | €966,397 | +€85,125 | +9.7% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €862,272 | €947,397 | +€85,125 | +9.9% |
| Tax-exempt reserves | 132 | €16,800 | €39,771 | +€22,971 | +137% |
| Distributable reserves | 133 | €845,472 | €907,625 | +€62,153 | +7.4% |
| Provisions and deferred taxes | 16 | €4,200 | €9,943 | +€5,743 | +137% |
| Deferred taxes | 168 | €4,200 | €9,943 | +€5,743 | +137% |
| Amounts payable | 17/49 | €883,636 | €750,646 | -€132,991 | -15.1% |
| Amounts payable after more than one year | 17 | €407,621 | €390,848 | -€16,773 | -4.1% |
| Financial debts | 170/4 | €407,621 | €390,848 | -€16,773 | -4.1% |
| Amounts payable within one year | 42/48 | €450,358 | €336,253 | -€114,104 | -25.3% |
| Current portion of amounts payable after more than one year | 42 | €186,599 | €194,869 | +€8,271 | +4.4% |
| Trade debts | 44 | €234,233 | €113,485 | -€120,748 | -51.6% |
| Suppliers | 440/4 | €234,233 | €113,485 | -€120,748 | -51.6% |
| Taxes, remuneration and social security | 45 | €17,028 | €15,838 | -€1,191 | -7.0% |
| Taxes | 450/3 | €3,656 | €2,220 | -€1,435 | -39.3% |
| Remuneration and social security | 454/9 | €13,373 | €13,617 | +€245 | +1.8% |
| Other amounts payable | 47/48 | €12,498 | €12,062 | -€436 | -3.5% |
| Accrued charges and deferred income | 492/3 | €25,658 | €23,544 | -€2,113 | -8.2% |
| Non-recurring operating income | 76A | €5,840 | €48,324 | +€42,484 | +727% |
| Remuneration, social security and pensions | 62 | €347,650 | €383,988 | +€36,338 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €268,076 | €286,448 | +€18,372 | +6.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,167 | €8,795 | +€3,628 | +70.2% |
| Gross operating margin | 9900 | €742,857 | €805,156 | +€62,299 | +8.4% |
| Operating profit (loss) | 9901 | €121,963 | €125,925 | +€3,962 | +3.2% |
| Financial income | 75/76B | €3,212 | €8,973 | +€5,760 | +179% |
| Recurring financial income | 75 | €3,212 | €8,973 | +€5,760 | +179% |
| Financial charges | 65/66B | -€43,937 | €29,955 | +€73,892 | |
| Recurring financial charges | 65 | -€43,937 | €29,955 | +€73,892 | |
| Profit (loss) for the period before taxes | 9903 | €169,112 | €104,942 | -€64,170 | -37.9% |
| Transfer from deferred taxes | 780 | €3,540 | €3,922 | +€382 | +10.8% |
| Transfer to deferred taxes | 680 | - | €9,665 | +€9,665 | |
| Income taxes | 67/77 | €31,103 | €14,075 | -€17,028 | -54.7% |
| Profit (loss) for the period | 9904 | €141,549 | €85,125 | -€56,425 | -39.9% |
| Transfer from tax-exempt reserves | 789 | €14,160 | €15,688 | +€1,528 | +10.8% |
| Transfer to tax-exempt reserves | 689 | - | €38,659 | +€38,659 | |
| Profit (loss) for the period to be appropriated | 9905 | €155,709 | €62,153 | -€93,556 | -60.1% |
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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 7 November 2026 via checked.be.