SMEKENS PASCAL: 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.
SMEKENS PASCAL
Largest movements
- Cash +€66,786
up €66,786 (+75.9%), from €87,959 to €154,745
mainly Other debts (+€110,465) and Net result for the year (+€47,901)
- Receivables within one year -€31,312
down €31,312 (-30.8%), from €101,681 to €70,370
of which Trade receivables: -€47,526
- Tangible fixed assets -€18,898
down €18,898 (-39.3%), from €48,039 to €29,141
of which Leasing and similar rights: -€17,652
- Other debts +€110,465
up €110,465 (+307.7%), from €35,895 to €146,360
- Reserves -€62,099
down €62,099 (-46.3%), from €134,125 to €72,026
of which Distributable reserves: -€62,099
- Debts after one year -€18,376
down €18,376 (-61.6%), from €29,813 to €11,437
- Current portion of long-term debt -€14,698
down €14,698 (-44.4%), from €33,074 to €18,376
- Gross operating margin +€43,731
up €43,731 (+69.8%), from €62,648 to €106,379
- Taxes +€15,265
up €15,265 (+3099.0%), from €493 to €15,758
- Depreciation -€13,308
down €13,308 (-26.3%), from €50,528 to €37,219
- Other operating charges -€2,234
down €2,234 (-32.0%), from €6,973 to €4,739
- Staff costs -€1,332
no longer reported in 2025 (was €1,332)
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 | €259,638 | €272,630 | +€12,992 | +5.0% |
| Fixed assets | 21/28 | €48,489 | €29,591 | -€18,898 | -39.0% |
| Tangible fixed assets | 22/27 | €48,039 | €29,141 | -€18,898 | -39.3% |
| Land and buildings | 22 | - | €4,227 | +€4,227 | |
| Plant, machinery and equipment | 23 | €14,500 | €22,359 | +€7,858 | +54.2% |
| Furniture and vehicles | 24 | €14,415 | €1,084 | -€13,331 | -92.5% |
| Leasing and similar rights | 25 | €19,123 | €1,471 | -€17,652 | -92.3% |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €211,149 | €243,039 | +€31,890 | +15.1% |
| Stocks and contracts in progress | 3 | €18,976 | €16,664 | -€2,312 | -12.2% |
| Stocks | 30/36 | €18,976 | €16,664 | -€2,312 | -12.2% |
| Amounts receivable within one year | 40/41 | €101,681 | €70,370 | -€31,312 | -30.8% |
| Trade receivables | 40 | €101,681 | €54,156 | -€47,526 | -46.7% |
| Other amounts receivable | 41 | - | €16,214 | +€16,214 | |
| Cash at bank and in hand | 54/58 | €87,959 | €154,745 | +€66,786 | +75.9% |
| Deferred charges and accrued income | 490/1 | €2,533 | €1,260 | -€1,273 | -50.3% |
| Total equity and liabilities | 10/49 | €259,638 | €272,630 | +€12,992 | +5.0% |
| Equity | 10/15 | €149,422 | €87,322 | -€62,099 | -41.6% |
| Reserves | 13 | €134,125 | €72,026 | -€62,099 | -46.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,735 | €1,735 | = | 0.0% |
| Distributable reserves | 133 | €130,531 | €68,431 | -€62,099 | -47.6% |
| Profit (loss) carried forward | 14 | €15,296 | €15,296 | -€0 | 0.0% |
| Amounts payable | 17/49 | €110,216 | €185,307 | +€75,091 | +68.1% |
| Amounts payable after more than one year | 17 | €29,813 | €11,437 | -€18,376 | -61.6% |
| Financial debts | 170/4 | €29,813 | €11,437 | -€18,376 | -61.6% |
| Amounts payable within one year | 42/48 | €80,403 | €173,871 | +€93,467 | +116.2% |
| Current portion of amounts payable after more than one year | 42 | €33,074 | €18,376 | -€14,698 | -44.4% |
| Trade debts | 44 | €6,580 | €5,958 | -€622 | -9.5% |
| Suppliers | 440/4 | €6,580 | €5,958 | -€622 | -9.5% |
| Taxes, remuneration and social security | 45 | €4,854 | €3,177 | -€1,677 | -34.5% |
| Taxes | 450/3 | €1,606 | - | -€1,606 | |
| Remuneration and social security | 454/9 | €3,248 | €3,177 | -€71 | -2.2% |
| Other amounts payable | 47/48 | €35,895 | €146,360 | +€110,465 | +307.7% |
| Remuneration, social security and pensions | 62 | €1,332 | - | -€1,332 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,528 | €37,219 | -€13,308 | -26.3% |
| Other operating charges | 640/8 | €6,973 | €4,739 | -€2,234 | -32.0% |
| Non-recurring operating charges | 66A | €99 | - | -€99 | |
| Gross operating margin | 9900 | €62,648 | €106,379 | +€43,731 | +69.8% |
| Operating profit (loss) | 9901 | €3,717 | €64,421 | +€60,704 | +1633.2% |
| Financial income | 75/76B | €136 | €135 | -€1 | -0.6% |
| Recurring financial income | 75 | €136 | €135 | -€1 | -0.6% |
| Financial charges | 65/66B | €1,080 | €897 | -€183 | -17.0% |
| Recurring financial charges | 65 | €1,080 | €897 | -€183 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €2,773 | €63,659 | +€60,886 | +2195.7% |
| Income taxes | 67/77 | €493 | €15,758 | +€15,265 | +3099.0% |
| Profit (loss) for the period | 9904 | €2,280 | €47,901 | +€45,621 | +2000.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,280 | €47,901 | +€45,621 | +2000.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.