smekk: 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.
smekk
Largest movements
- Cash +€60,493
up €60,493 (+1,609%), from €3,760 to €64,253
mainly Short-term financial debts (+€100,000) and Trade debts (+€83,403)
- Receivables within one year +€37,547
up €37,547 (+22.2%), from €169,383 to €206,931
of which Trade receivables: +€43,668
- Deferred charges and accrued income +€31,756
up €31,756 (+539%), from €5,887 to €37,643
- Intangible fixed assets +€31,678
up €31,678 (+79.2%), from €39,973 to €71,651
- Receivables after one year -€25,286
down €25,286 (-88.8%), from €28,476 to €3,190
- Short-term financial debts +€100,000
up €100,000 (+50.0%), from €200,000 to €300,000
- Trade debts +€83,403
up €83,403 (+112%), from €74,677 to €158,080
- Debts after one year -€58,754
down €58,754 (-68.8%), from €85,407 to €26,653
of which Financial debts: -€64,465
- Other debts -€21,000
down €21,000 (-100%), from €21,000 to €0
- Reserves +€9,668
up €9,668 (+6.5%), from €147,919 to €157,588
- Gross operating margin -€188,187
down €188,187 (-53.6%), from €351,254 to €163,067
- Taxes -€33,195
down €33,195 (-93.6%), from €35,471 to €2,276
- Financial charges -€10,489
down €10,489 (-35.3%), from €29,713 to €19,224
- Depreciation +€10,238
up €10,238 (+81.0%), from €12,638 to €22,876
- Staff costs +€6,138
up €6,138 (+6.1%), from €99,950 to €106,088
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 | €614,690 | €724,529 | +€109,839 | +17.9% |
| Fixed assets | 21/28 | €85,945 | €114,566 | +€28,621 | +33.3% |
| Intangible fixed assets | 21 | €39,973 | €71,651 | +€31,678 | +79.2% |
| Tangible fixed assets | 22/27 | €15,472 | €12,415 | -€3,058 | -19.8% |
| Plant, machinery and equipment | 23 | €2,084 | €1,221 | -€863 | -41.4% |
| Furniture and vehicles | 24 | €9,046 | €7,685 | -€1,361 | -15.0% |
| Other tangible fixed assets | 26 | €4,343 | €3,509 | -€834 | -19.2% |
| Financial fixed assets | 28 | €30,500 | €30,500 | = | 0.0% |
| Current assets | 29/58 | €528,744 | €609,963 | +€81,219 | +15.4% |
| Amounts receivable after more than one year | 29 | €28,476 | €3,190 | -€25,286 | -88.8% |
| Other amounts receivable | 291 | €28,476 | €3,190 | -€25,286 | -88.8% |
| Stocks and contracts in progress | 3 | €321,238 | €297,947 | -€23,292 | -7.3% |
| Stocks | 30/36 | €321,238 | €297,947 | -€23,292 | -7.3% |
| Amounts receivable within one year | 40/41 | €169,383 | €206,931 | +€37,547 | +22.2% |
| Trade receivables | 40 | €163,262 | €206,931 | +€43,668 | +26.7% |
| Other amounts receivable | 41 | €6,121 | €0 | -€6,121 | -100% |
| Cash at bank and in hand | 54/58 | €3,760 | €64,253 | +€60,493 | +1,609% |
| Deferred charges and accrued income | 490/1 | €5,887 | €37,643 | +€31,756 | +539% |
| Total equity and liabilities | 10/49 | €614,690 | €724,529 | +€109,839 | +17.9% |
| Equity | 10/15 | €166,519 | €176,188 | +€9,668 | +5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €147,919 | €157,588 | +€9,668 | +6.5% |
| Distributable reserves | 133 | €147,919 | €157,588 | +€9,668 | +6.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €448,170 | €548,341 | +€100,171 | +22.4% |
| Amounts payable after more than one year | 17 | €85,407 | €26,653 | -€58,754 | -68.8% |
| Financial debts | 170/4 | €85,407 | €20,942 | -€64,465 | -75.5% |
| Other amounts payable | 178/9 | - | €5,711 | +€5,711 | |
| Amounts payable within one year | 42/48 | €359,084 | €516,291 | +€157,207 | +43.8% |
| Current portion of amounts payable after more than one year | 42 | €38,847 | €32,860 | -€5,987 | -15.4% |
| Financial debts | 43 | €200,000 | €300,000 | +€100,000 | +50.0% |
| Credit institutions | 430/8 | €200,000 | €300,000 | +€100,000 | +50.0% |
| Trade debts | 44 | €74,677 | €158,080 | +€83,403 | +112% |
| Suppliers | 440/4 | €74,677 | €158,080 | +€83,403 | +112% |
| Taxes, remuneration and social security | 45 | €24,560 | €25,351 | +€791 | +3.2% |
| Taxes | 450/3 | €5,713 | €15,698 | +€9,985 | +175% |
| Remuneration and social security | 454/9 | €18,847 | €9,653 | -€9,194 | -48.8% |
| Other amounts payable | 47/48 | €21,000 | €0 | -€21,000 | -100% |
| Accrued charges and deferred income | 492/3 | €3,680 | €5,398 | +€1,718 | +46.7% |
| Non-recurring operating income | 76A | €631 | €41 | -€589 | -93.4% |
| Remuneration, social security and pensions | 62 | €99,950 | €106,088 | +€6,138 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,638 | €22,876 | +€10,238 | +81.0% |
| Other operating charges | 640/8 | €1,748 | €3,573 | +€1,825 | +104% |
| Non-recurring operating charges | 66A | €3,115 | €400 | -€2,715 | -87.2% |
| Gross operating margin | 9900 | €351,254 | €163,067 | -€188,187 | -53.6% |
| Operating profit (loss) | 9901 | €233,804 | €30,131 | -€203,673 | -87.1% |
| Financial income | 75/76B | €240 | €1,037 | +€797 | +332% |
| Recurring financial income | 75 | €240 | €641 | +€401 | +167% |
| Non-recurring financial income | 76B | - | €396 | +€396 | |
| Financial charges | 65/66B | €29,713 | €19,224 | -€10,489 | -35.3% |
| Recurring financial charges | 65 | €29,713 | €19,224 | -€10,489 | -35.3% |
| Profit (loss) for the period before taxes | 9903 | €204,331 | €11,944 | -€192,387 | -94.2% |
| Income taxes | 67/77 | €35,471 | €2,276 | -€33,195 | -93.6% |
| Profit (loss) for the period | 9904 | €168,861 | €9,668 | -€159,192 | -94.3% |
| Profit (loss) for the period to be appropriated | 9905 | €168,861 | €9,668 | -€159,192 | -94.3% |
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 18 October 2026 via checked.be.