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.
SMEKENS
Largest movements
- Receivables within one year +€69,921
up €69,921 (+81.3%), from €86,042 to €155,964
of which Other amounts receivable: +€60,497
- Financial fixed assets -€35,477
down €35,477 (-49.8%), from €71,242 to €35,765
- Cash -€29,789
down €29,789 (-43.3%), from €68,797 to €39,009
mainly Receivables within one year (-€69,921) and Debts after one year (-€46,001)
- Tangible fixed assets -€11,187
down €11,187 (-3.0%), from €369,958 to €358,771
- Trade debts +€49,074
up €49,074 (+415%), from €11,813 to €60,887
- Debts after one year -€46,001
down €46,001 (-28.2%), from €163,056 to €117,055
- Reserves +€30,785
up €30,785 (+34.7%), from €88,703 to €119,487
of which Distributable reserves: +€32,500
- Tax, wage and social debts -€20,742
down €20,742 (-36.7%), from €56,573 to €35,831
of which Taxes: -€17,476
- Other debts -€19,929
down €19,929 (-57.7%), from €34,540 to €14,611
- Financial income +€24,935
up €24,935 (+2,196%), from €1,135 to €26,070
- Gross operating margin -€10,989
down €10,989 (-6.2%), from €176,607 to €165,617
- Financial charges -€4,407
down €4,407 (-26.9%), from €16,360 to €11,953
- Depreciation -€4,287
down €4,287 (-8.0%), from €53,753 to €49,466
- Taxes +€1,835
up €1,835 (+30.6%), from €5,993 to €7,827
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €608,727 | €598,965 | -€9,762 | -1.6% |
| Fixed assets | 21/28 | €441,200 | €394,536 | -€46,664 | -10.6% |
| Tangible fixed assets | 22/27 | €369,958 | €358,771 | -€11,187 | -3.0% |
| Land and buildings | 22 | €331,757 | €326,885 | -€4,871 | -1.5% |
| Plant, machinery and equipment | 23 | €12,483 | €11,342 | -€1,141 | -9.1% |
| Furniture and vehicles | 24 | €4,456 | €2,198 | -€2,258 | -50.7% |
| Other tangible fixed assets | 26 | €21,263 | €18,346 | -€2,916 | -13.7% |
| Financial fixed assets | 28 | €71,242 | €35,765 | -€35,477 | -49.8% |
| Current assets | 29/58 | €167,526 | €204,428 | +€36,902 | +22.0% |
| Stocks and contracts in progress | 3 | €4,835 | €4,148 | -€687 | -14.2% |
| Stocks | 30/36 | €4,835 | €4,148 | -€687 | -14.2% |
| Amounts receivable within one year | 40/41 | €86,042 | €155,964 | +€69,921 | +81.3% |
| Trade receivables | 40 | €85,120 | €94,544 | +€9,424 | +11.1% |
| Other amounts receivable | 41 | €922 | €61,419 | +€60,497 | +6,562% |
| Cash at bank and in hand | 54/58 | €68,797 | €39,009 | -€29,789 | -43.3% |
| Deferred charges and accrued income | 490/1 | €7,852 | €5,308 | -€2,544 | -32.4% |
| Total equity and liabilities | 10/49 | €608,727 | €598,965 | -€9,762 | -1.6% |
| Equity | 10/15 | €182,503 | €213,287 | +€30,785 | +16.9% |
| Contributions | 10/11 | €93,800 | €93,800 | = | 0.0% |
| Reserves | 13 | €88,703 | €119,487 | +€30,785 | +34.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €61,641 | €59,926 | -€1,715 | -2.8% |
| Distributable reserves | 133 | €27,062 | €59,562 | +€32,500 | +120% |
| Provisions and deferred taxes | 16 | €111,863 | €111,292 | -€572 | -0.5% |
| Provisions for liabilities and charges | 160/5 | €95,614 | €95,614 | = | 0.0% |
| Pensions and similar obligations | 160 | €95,614 | €95,614 | = | 0.0% |
| Deferred taxes | 168 | €16,250 | €15,678 | -€572 | -3.5% |
| Amounts payable | 17/49 | €314,361 | €274,386 | -€39,975 | -12.7% |
| Amounts payable after more than one year | 17 | €163,056 | €117,055 | -€46,001 | -28.2% |
| Financial debts | 170/4 | €163,056 | €117,055 | -€46,001 | -28.2% |
| Amounts payable within one year | 42/48 | €148,711 | €157,331 | +€8,620 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €45,784 | €46,001 | +€217 | +0.5% |
| Trade debts | 44 | €11,813 | €60,887 | +€49,074 | +415% |
| Suppliers | 440/4 | €11,813 | €60,887 | +€49,074 | +415% |
| Taxes, remuneration and social security | 45 | €56,573 | €35,831 | -€20,742 | -36.7% |
| Taxes | 450/3 | €45,678 | €28,202 | -€17,476 | -38.3% |
| Remuneration and social security | 454/9 | €10,896 | €7,630 | -€3,266 | -30.0% |
| Other amounts payable | 47/48 | €34,540 | €14,611 | -€19,929 | -57.7% |
| Accrued charges and deferred income | 492/3 | €2,594 | €0 | -€2,594 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €84,046 | €84,590 | +€544 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,753 | €49,466 | -€4,287 | -8.0% |
| Other operating charges | 640/8 | €7,424 | €7,638 | +€214 | +2.9% |
| Gross operating margin | 9900 | €176,607 | €165,617 | -€10,989 | -6.2% |
| Operating profit (loss) | 9901 | €31,383 | €23,923 | -€7,461 | -23.8% |
| Financial income | 75/76B | €1,135 | €26,070 | +€24,935 | +2,196% |
| Recurring financial income | 75 | €1,135 | €26,070 | +€24,935 | +2,196% |
| Financial charges | 65/66B | €16,360 | €11,953 | -€4,407 | -26.9% |
| Recurring financial charges | 65 | €16,360 | €11,953 | -€4,407 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €16,159 | €38,040 | +€21,881 | +135% |
| Transfer from deferred taxes | 780 | €602 | €572 | -€31 | -5.1% |
| Income taxes | 67/77 | €5,993 | €7,827 | +€1,835 | +30.6% |
| Profit (loss) for the period | 9904 | €10,769 | €30,785 | +€20,016 | +186% |
| Transfer from tax-exempt reserves | 789 | €1,807 | €1,715 | -€92 | -5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,575 | €32,500 | +€19,924 | +158% |
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 17 October 2026 via checked.be.