Smet-Gestion-Commerce: what changed
What changed
Smet-Gestion-Commerce
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
€107,544
2024 · -€75,018+€182,562
Equity
€4.0m
2024 · €4.5m-€522,456
Cash
€404,854
2024 · €241,706+€163,148
Balance sheet total
€12.1m
2024 · €12.6m-€536,089
Largest movements
Assets
- Tangible fixed assets -€337,972
down €337,972 (-6.4%), from €5.2m to €4.9m
of which Assets under construction and advance payments: -€1.8m
- Stocks and contracts -€301,492
down €301,492 (-5.7%), from €5.3m to €5.0m
of which Stocks: -€266,252
- Cash +€163,148
up €163,148 (+67.5%), from €241,706 to €404,854
mainly Other debts (+€820,290) and Stocks and contracts (+€301,492)
Equity and liabilities
- Other debts +€820,290
up €820,290 (+25.0%), from €3.3m to €4.1m
- Reserves -€522,456
down €522,456 (-25.4%), from €2.1m to €1.5m
of which Non-distributable reserves: -€438,256
- Short-term financial debts -€507,800
down €507,800 (-43.0%), from €1.2m to €672,200
- Debts after one year -€223,113
down €223,113 (-7.6%), from €2.9m to €2.7m
Income statement
- Purchases and services -€457,011
down €457,011 (-45.2%), from €1.0m to €554,157
- Gross operating margin +€317,286
up €317,286 (+63.3%), from €501,492 to €818,778
- Turnover -€157,501
down €157,501 (-10.4%), from €1.5m to €1.4m
- Other operating charges +€88,992
up €88,992 (+125%), from €71,096 to €160,088
- Provisions -€42,814
down €42,814 (-15.5%), from €276,041 to €233,227
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€75,018
Gross operating margin
+€317,286
Staff costs
+€12,746
Depreciation
-€32,114
Provisions
+€42,814
Other operating charges
-€88,992
Other operating items
-€3,162
Financial income
-€40,571
Financial charges
-€5,178
Taxes
-€20,267
Result 2025
€107,544
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.4m
Investment
+€170,489
Financing
-€1.4m
Cash 2024
€241,706
From operations (derived)
+€1.4m
Net result for the year
+€107,544
Depreciation
+€167,483
Stocks and contracts
+€301,492
Receivables within one year
+€105,260
Deferred charges and accrued income
-€45,487
Provisions
-€42,813
Trade debts
-€86,520
Tax, wage and social debts
+€41,839
Other debts
+€820,290
Accrued charges and deferred income
-€1,360
Investment (derived)
+€170,489
Investment in fixed assets (net)
+€170,489
Financing
-€1.4m
Debts after one year
-€223,113
Current portion of long-term debt
-€14,156
Short-term financial debts
-€507,800
Contributions, distributions and other
-€630,000
Cash 2025
€404,854
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,631,589 | €12,095,500 | -€536,089 | -4.2% |
| Fixed assets | 21/28 | €5,341,423 | €5,003,451 | -€337,972 | -6.3% |
| Tangible fixed assets | 22/27 | €5,240,423 | €4,902,451 | -€337,972 | -6.4% |
| Land and buildings | 22 | €3,296,672 | €4,798,399 | +€1.5m | +45.6% |
| Furniture and vehicles | 24 | €169,690 | €104,052 | -€65,638 | -38.7% |
| Assets under construction and advance payments | 27 | €1,774,061 | - | -€1.8m | |
| Financial fixed assets | 28 | €101,000 | €101,000 | = | 0.0% |
| Current assets | 29/58 | €7,290,166 | €7,092,049 | -€198,117 | -2.7% |
| Stocks and contracts in progress | 3 | €5,285,367 | €4,983,875 | -€301,492 | -5.7% |
| Stocks | 30/36 | €5,250,127 | €4,983,875 | -€266,252 | -5.1% |
| Contracts in progress | 37 | €35,240 | - | -€35,240 | |
| Amounts receivable within one year | 40/41 | €1,763,093 | €1,657,833 | -€105,260 | -6.0% |
| Trade receivables | 40 | €1,062,788 | €1,306,933 | +€244,145 | +23.0% |
| Other amounts receivable | 41 | €700,305 | €350,900 | -€349,405 | -49.9% |
| Cash at bank and in hand | 54/58 | €241,706 | €404,854 | +€163,148 | +67.5% |
| Deferred charges and accrued income | 490/1 | - | €45,487 | +€45,487 | |
| Total equity and liabilities | 10/49 | €12,631,589 | €12,095,500 | -€536,089 | -4.2% |
| Equity | 10/15 | €4,545,014 | €4,022,558 | -€522,456 | -11.5% |
| Contributions | 10/11 | €2,695,976 | €2,695,976 | = | 0.0% |
| Reserves | 13 | €2,058,211 | €1,535,755 | -€522,456 | -25.4% |
| Non-distributable reserves | 130/1 | €1,229,588 | €791,332 | -€438,256 | -35.6% |
| Reserves not available under the articles | 1311 | €269,588 | €269,588 | = | 0.0% |
| Other | 1319 | €960,000 | €521,744 | -€438,256 | -45.7% |
| Tax-exempt reserves | 132 | €302,777 | €218,577 | -€84,200 | -27.8% |
| Distributable reserves | 133 | €525,846 | €525,846 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€209,173 | -€209,173 | = | 0.0% |
| Provisions and deferred taxes | 16 | €276,041 | €233,228 | -€42,813 | -15.5% |
| Provisions for liabilities and charges | 160/5 | €276,041 | €233,228 | -€42,813 | -15.5% |
| Other liabilities and charges | 164/5 | €276,041 | €233,228 | -€42,813 | -15.5% |
| Amounts payable | 17/49 | €7,810,534 | €7,839,714 | +€29,180 | +0.4% |
| Amounts payable after more than one year | 17 | €2,922,514 | €2,699,401 | -€223,113 | -7.6% |
| Financial debts | 170/4 | €2,922,514 | €2,699,401 | -€223,113 | -7.6% |
| Amounts payable within one year | 42/48 | €4,877,913 | €5,131,566 | +€253,653 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €237,269 | €223,113 | -€14,156 | -6.0% |
| Financial debts | 43 | €1,180,000 | €672,200 | -€507,800 | -43.0% |
| Credit institutions | 430/8 | €1,180,000 | €672,200 | -€507,800 | -43.0% |
| Trade debts | 44 | €149,522 | €63,002 | -€86,520 | -57.9% |
| Suppliers | 440/4 | €149,522 | €63,002 | -€86,520 | -57.9% |
| Taxes, remuneration and social security | 45 | €32,272 | €74,111 | +€41,839 | +130% |
| Taxes | 450/3 | €32,272 | €74,111 | +€41,839 | +130% |
| Other amounts payable | 47/48 | €3,278,850 | €4,099,140 | +€820,290 | +25.0% |
| Accrued charges and deferred income | 492/3 | €10,107 | €8,747 | -€1,360 | -13.5% |
| Turnover | 70 | €1,512,660 | €1,355,159 | -€157,501 | -10.4% |
| Non-recurring operating income | 76A | - | €17,776 | +€17,776 | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,011,168 | €554,157 | -€457,011 | -45.2% |
| Remuneration, social security and pensions | 62 | €54,659 | €41,913 | -€12,746 | -23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,369 | €167,483 | +€32,114 | +23.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €276,041 | €233,227 | -€42,814 | -15.5% |
| Other operating charges | 640/8 | €71,096 | €160,088 | +€88,992 | +125% |
| Non-recurring operating charges | 66A | - | €3,162 | +€3,162 | |
| Gross operating margin | 9900 | €501,492 | €818,778 | +€317,286 | +63.3% |
| Operating profit (loss) | 9901 | -€35,673 | €212,905 | +€248,578 | |
| Financial income | 75/76B | €53,138 | €12,567 | -€40,571 | -76.4% |
| Recurring financial income | 75 | €53,138 | €12,567 | -€40,571 | -76.4% |
| Financial charges | 65/66B | €92,483 | €97,661 | +€5,178 | +5.6% |
| Recurring financial charges | 65 | €92,483 | €97,661 | +€5,178 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | -€75,018 | €127,811 | +€202,829 | |
| Income taxes | 67/77 | - | €20,267 | +€20,267 | |
| Profit (loss) for the period | 9904 | -€75,018 | €107,544 | +€182,562 | |
| Transfer from tax-exempt reserves | 789 | - | €84,200 | +€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | -€75,018 | €191,744 | +€266,762 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.