Smet: 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.
Smet
Largest movements
- Tangible fixed assets -€125,878
down €125,878 (-5.6%), from €2.3m to €2.1m
of which Land and buildings: -€105,666
- Profit (loss) carried forward -€120,315
down €120,315 (-23.3%), from -€517,114 to -€637,429
- Current portion of long-term debt -€95,013
down €95,013 (-94.1%), from €100,923 to €5,909
- Other debts +€36,452
up €36,452 (+2.6%), from €1.4m to €1.4m
- Trade debts +€29,897
up €29,897 (+49.0%), from €61,006 to €90,903
- Gross operating margin -€46,654
down €46,654 (-53.9%), from €86,594 to €39,941
- Financial charges -€10,013
down €10,013 (-36.6%), from €27,358 to €17,345
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 | €2,262,783 | €2,130,968 | -€131,815 | -5.8% |
| Fixed assets | 21/28 | €2,252,148 | €2,126,270 | -€125,878 | -5.6% |
| Tangible fixed assets | 22/27 | €2,252,148 | €2,126,270 | -€125,878 | -5.6% |
| Land and buildings | 22 | €2,136,234 | €2,030,568 | -€105,666 | -4.9% |
| Plant, machinery and equipment | 23 | €41,283 | €26,316 | -€14,966 | -36.3% |
| Furniture and vehicles | 24 | €57,281 | €52,777 | -€4,504 | -7.9% |
| Other tangible fixed assets | 26 | €17,351 | €16,609 | -€741 | -4.3% |
| Current assets | 29/58 | €10,634 | €4,697 | -€5,937 | -55.8% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €10,483 | €3,820 | -€6,662 | -63.6% |
| Trade receivables | 40 | €10,396 | €3,101 | -€7,295 | -70.2% |
| Other amounts receivable | 41 | €87 | €719 | +€633 | +730.6% |
| Cash at bank and in hand | 54/58 | €152 | €838 | +€686 | +451.5% |
| Deferred charges and accrued income | 490/1 | - | €39 | +€39 | |
| Total equity and liabilities | 10/49 | €2,262,783 | €2,130,968 | -€131,815 | -5.8% |
| Equity | 10/15 | -€498,514 | -€618,829 | -€120,315 | -24.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€517,114 | -€637,429 | -€120,315 | -23.3% |
| Amounts payable | 17/49 | €2,761,297 | €2,749,797 | -€11,500 | -0.4% |
| Amounts payable after more than one year | 17 | €1,201,181 | €1,220,547 | +€19,365 | +1.6% |
| Financial debts | 170/4 | €1,201,181 | €1,220,547 | +€19,365 | +1.6% |
| Amounts payable within one year | 42/48 | €1,560,116 | €1,529,250 | -€30,866 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €100,923 | €5,909 | -€95,013 | -94.1% |
| Trade debts | 44 | €61,006 | €90,903 | +€29,897 | +49.0% |
| Suppliers | 440/4 | €61,006 | €90,903 | +€29,897 | +49.0% |
| Taxes, remuneration and social security | 45 | €13,019 | €10,818 | -€2,202 | -16.9% |
| Taxes | 450/3 | €13,019 | €10,818 | -€2,202 | -16.9% |
| Other amounts payable | 47/48 | €1,385,168 | €1,421,621 | +€36,452 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,230 | €137,708 | +€478 | +0.3% |
| Other operating charges | 640/8 | €4,676 | €4,111 | -€565 | -12.1% |
| Gross operating margin | 9900 | €86,594 | €39,941 | -€46,654 | -53.9% |
| Operating profit (loss) | 9901 | -€55,311 | -€101,878 | -€46,567 | -84.2% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €27,358 | €17,345 | -€10,013 | -36.6% |
| Recurring financial charges | 65 | €27,358 | €17,345 | -€10,013 | -36.6% |
| Profit (loss) for the period before taxes | 9903 | -€82,669 | -€119,223 | -€36,553 | -44.2% |
| Profit (loss) for the period | 9904 | -€82,669 | -€119,223 | -€36,553 | -44.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€82,669 | -€119,223 | -€36,553 | -44.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.