SMEKENS: 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.
What changed
SMEKENS
NACE 68.321, Property management for co-owned buildings (syndics)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.0m
2024 · €267,904+€767,888
Equity
€5.1m
2024 · €4.0m+€1.0m
Cash
€139,821
2024 · €109,545+€30,276
Balance sheet total
€10.6m
2024 · €9.6m+€935,048
Largest movements
Assets
- Current investments +€1.2m
up €1.2m (+34.6%), from €3.5m to €4.7m
- Tangible fixed assets -€367,028
down €367,028 (-6.2%), from €6.0m to €5.6m
of which Land and buildings: -€343,243
Equity and liabilities
- Reserves +€1.0m
up €1.0m (+27.8%), from €3.7m to €4.8m
of which Tax-exempt reserves: +€778,442
- Debts after one year -€317,884
down €317,884 (-9.6%), from €3.3m to €3.0m
- Other debts +€211,941
up €211,941 (+32.0%), from €662,267 to €874,208
Income statement
- Gross operating margin +€880,930
up €880,930 (+81.3%), from €1.1m to €2.0m
- Depreciation -€136,992
down €136,992 (-31.8%), from €430,557 to €293,564
- Financial income +€69,840
up €69,840 (+329%), from €21,205 to €91,045
- Other operating charges +€46,014
up €46,014 (+43.2%), from €106,545 to €152,559
- Taxes +€33,314
up €33,314 (+66.6%), from €50,050 to €83,364
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
€267,904
Gross operating margin
+€880,930
Depreciation
+€136,992
Other operating charges
-€46,014
Financial income
+€69,840
Financial charges
-€18,868
Taxes
-€33,314
Deferred taxes and other
-€221,677
Result 2025
€1.0m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.5m
Investment
-€1.1m
Financing
-€310,369
Cash 2024
€109,545
From operations (derived)
+€1.5m
Net result for the year
+€1.0m
Depreciation
+€293,564
Receivables within one year
-€35,860
Deferred charges and accrued income
-€22,238
Provisions
+€72,666
Trade debts
-€76,822
Tax, wage and social debts
+€7,234
Other debts
+€211,941
Accrued charges and deferred income
-€5,395
Investment (derived)
-€1.1m
Investment in fixed assets (net)
+€73,464
Current investments
-€1.2m
Financing
-€310,369
Debts after one year
-€317,884
Current portion of long-term debt
+€7,515
Cash 2025
€139,821
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,631,482 | €10,566,530 | +€935,048 | +9.7% |
| Fixed assets | 21/28 | €5,962,142 | €5,595,114 | -€367,028 | -6.2% |
| Tangible fixed assets | 22/27 | €5,962,142 | €5,595,114 | -€367,028 | -6.2% |
| Land and buildings | 22 | €5,607,689 | €5,264,446 | -€343,243 | -6.1% |
| Furniture and vehicles | 24 | €330,797 | €311,829 | -€18,968 | -5.7% |
| Other tangible fixed assets | 26 | €23,656 | €18,839 | -€4,817 | -20.4% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €3,669,340 | €4,971,416 | +€1.3m | +35.5% |
| Amounts receivable within one year | 40/41 | €41,879 | €77,739 | +€35,860 | +85.6% |
| Trade receivables | 40 | €2,443 | €0 | -€2,443 | -100% |
| Other amounts receivable | 41 | €39,435 | €77,739 | +€38,304 | +97.1% |
| Current investments | 50/53 | €3,512,105 | €4,725,806 | +€1.2m | +34.6% |
| Cash at bank and in hand | 54/58 | €109,545 | €139,821 | +€30,276 | +27.6% |
| Deferred charges and accrued income | 490/1 | €5,812 | €28,050 | +€22,238 | +383% |
| Total equity and liabilities | 10/49 | €9,631,482 | €10,566,530 | +€935,048 | +9.7% |
| Equity | 10/15 | €4,028,954 | €5,064,746 | +€1.0m | +25.7% |
| Contributions | 10/11 | €296,997 | €296,997 | = | 0.0% |
| Capital | 10 | €296,997 | €296,997 | = | 0.0% |
| Issued capital | 100 | €296,997 | €296,997 | = | 0.0% |
| Reserves | 13 | €3,731,957 | €4,767,749 | +€1.0m | +27.8% |
| Non-distributable reserves | 130/1 | €29,700 | €29,700 | = | 0.0% |
| Legal reserve | 130 | €29,700 | €29,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,545,951 | €2,324,393 | +€778,442 | +50.4% |
| Distributable reserves | 133 | €2,156,306 | €2,413,656 | +€257,350 | +11.9% |
| Provisions and deferred taxes | 16 | €1,007,493 | €1,080,160 | +€72,666 | +7.2% |
| Provisions for liabilities and charges | 160/5 | €417,688 | €230,874 | -€186,814 | -44.7% |
| Environmental obligations | 163 | €417,688 | €230,874 | -€186,814 | -44.7% |
| Deferred taxes | 168 | €589,805 | €849,286 | +€259,481 | +44.0% |
| Amounts payable | 17/49 | €4,595,035 | €4,421,624 | -€173,410 | -3.8% |
| Amounts payable after more than one year | 17 | €3,307,042 | €2,989,158 | -€317,884 | -9.6% |
| Financial debts | 170/4 | €3,307,042 | €2,989,158 | -€317,884 | -9.6% |
| Amounts payable within one year | 42/48 | €1,273,809 | €1,423,677 | +€149,868 | +11.8% |
| Current portion of amounts payable after more than one year | 42 | €310,369 | €317,884 | +€7,515 | +2.4% |
| Trade debts | 44 | €256,123 | €179,301 | -€76,822 | -30.0% |
| Suppliers | 440/4 | €256,123 | €179,301 | -€76,822 | -30.0% |
| Taxes, remuneration and social security | 45 | €45,050 | €52,284 | +€7,234 | +16.1% |
| Taxes | 450/3 | €45,050 | €52,284 | +€7,234 | +16.1% |
| Other amounts payable | 47/48 | €662,267 | €874,208 | +€211,941 | +32.0% |
| Accrued charges and deferred income | 492/3 | €14,185 | €8,790 | -€5,395 | -38.0% |
| Non-recurring operating income | 76A | - | €1,189,112 | +€1.2m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €430,557 | €293,564 | -€136,992 | -31.8% |
| Other operating charges | 640/8 | €106,545 | €152,559 | +€46,014 | +43.2% |
| Gross operating margin | 9900 | €1,083,624 | €1,964,554 | +€880,930 | +81.3% |
| Operating profit (loss) | 9901 | €546,522 | €1,518,430 | +€971,908 | +178% |
| Financial income | 75/76B | €21,205 | €91,045 | +€69,840 | +329% |
| Recurring financial income | 75 | €21,205 | €91,045 | +€69,840 | +329% |
| Financial charges | 65/66B | €211,970 | €230,838 | +€18,868 | +8.9% |
| Recurring financial charges | 65 | €211,970 | €230,838 | +€18,868 | +8.9% |
| Profit (loss) for the period before taxes | 9903 | €355,757 | €1,378,637 | +€1.0m | +288% |
| Transfer from deferred taxes | 780 | €36,547 | €36,547 | = | 0.0% |
| Transfer to deferred taxes | 680 | €74,351 | €296,028 | +€221,677 | +298% |
| Income taxes | 67/77 | €50,050 | €83,364 | +€33,314 | +66.6% |
| Profit (loss) for the period | 9904 | €267,904 | €1,035,792 | +€767,888 | +287% |
| Transfer from tax-exempt reserves | 789 | €109,642 | €109,642 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €223,052 | €888,084 | +€665,032 | +298% |
| Profit (loss) for the period to be appropriated | 9905 | €154,494 | €257,350 | +€102,856 | +66.6% |
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 20 October 2026 via checked.be.