SMET BEHEER: 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.
SMET BEHEER
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Cash -€88,670
down €88,670 (-79.1%), from €112,127 to €23,457
mainly Current investments (-€100,000) and Other debts (-€28,135)
- Tangible fixed assets -€25,299
down €25,299 (-7.0%), from €360,734 to €335,435
of which Land and buildings: -€23,905
- Receivables within one year +€16,273
up €16,273 (+61.4%), from €26,501 to €42,774
of which Other amounts receivable: +€17,501
- Other debts -€28,135
down €28,135 (-12.3%), from €229,313 to €201,178
- Reserves +€24,946
up €24,946 (+10.2%), from €243,805 to €268,751
- Gross operating margin +€23,592
up €23,592 (+61.7%), from €38,250 to €61,842
- Depreciation -€6,183
down €6,183 (-19.0%), from €32,561 to €26,379
- Financial income -€4,346
down €4,346 (-99.8%), from €4,353 to €7
- Taxes +€3,452
up €3,452 (+111%), from €3,117 to €6,569
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 | €500,848 | €502,686 | +€1,838 | +0.4% |
| Fixed assets | 21/28 | €360,734 | €335,435 | -€25,299 | -7.0% |
| Tangible fixed assets | 22/27 | €360,734 | €335,435 | -€25,299 | -7.0% |
| Land and buildings | 22 | €352,311 | €328,406 | -€23,905 | -6.8% |
| Plant, machinery and equipment | 23 | €4,320 | €3,303 | -€1,016 | -23.5% |
| Furniture and vehicles | 24 | €4,104 | €3,726 | -€377 | -9.2% |
| Current assets | 29/58 | €140,114 | €167,251 | +€27,137 | +19.4% |
| Amounts receivable within one year | 40/41 | €26,501 | €42,774 | +€16,273 | +61.4% |
| Trade receivables | 40 | €22,739 | €21,511 | -€1,228 | -5.4% |
| Other amounts receivable | 41 | €3,762 | €21,263 | +€17,501 | +465% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €112,127 | €23,457 | -€88,670 | -79.1% |
| Deferred charges and accrued income | 490/1 | €1,487 | €1,020 | -€467 | -31.4% |
| Total equity and liabilities | 10/49 | €500,848 | €502,686 | +€1,838 | +0.4% |
| Equity | 10/15 | €268,805 | €293,751 | +€24,946 | +9.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €243,805 | €268,751 | +€24,946 | +10.2% |
| Distributable reserves | 133 | €243,805 | €268,751 | +€24,946 | +10.2% |
| Amounts payable | 17/49 | €232,043 | €208,935 | -€23,108 | -10.0% |
| Amounts payable within one year | 42/48 | €232,043 | €207,405 | -€24,638 | -10.6% |
| Trade debts | 44 | €2,023 | €4,442 | +€2,420 | +120% |
| Suppliers | 440/4 | €2,023 | €4,442 | +€2,420 | +120% |
| Taxes, remuneration and social security | 45 | €707 | €1,784 | +€1,077 | +152% |
| Taxes | 450/3 | €707 | €1,784 | +€1,077 | +152% |
| Other amounts payable | 47/48 | €229,313 | €201,178 | -€28,135 | -12.3% |
| Accrued charges and deferred income | 492/3 | - | €1,530 | +€1,530 | |
| Non-recurring operating income | 76A | - | €11,638 | +€11,638 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,561 | €26,379 | -€6,183 | -19.0% |
| Other operating charges | 640/8 | €4,265 | €3,861 | -€404 | -9.5% |
| Gross operating margin | 9900 | €38,250 | €61,842 | +€23,592 | +61.7% |
| Operating profit (loss) | 9901 | €1,424 | €31,603 | +€30,179 | +2,119% |
| Financial income | 75/76B | €4,353 | €7 | -€4,346 | -99.8% |
| Recurring financial income | 75 | €4,353 | €7 | -€4,346 | -99.8% |
| Financial charges | 65/66B | €73 | €95 | +€22 | +30.3% |
| Recurring financial charges | 65 | €73 | €95 | +€22 | +30.3% |
| Profit (loss) for the period before taxes | 9903 | €5,704 | €31,515 | +€25,811 | +452% |
| Income taxes | 67/77 | €3,117 | €6,569 | +€3,452 | +111% |
| Profit (loss) for the period | 9904 | €2,587 | €24,946 | +€22,359 | +864% |
| Profit (loss) for the period to be appropriated | 9905 | €2,587 | €24,946 | +€22,359 | +864% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.