Smet Jan: 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 Jan
Largest movements
- Receivables within one year +€67,750
up €67,750 (+21.9%), from €309,930 to €377,680
of which Other amounts receivable: +€65,847
- Cash -€36,152
down €36,152 (-36.7%), from €98,571 to €62,419
mainly Receivables within one year (-€67,750) and Contributions, distributions and other (-€42,000)
- Tangible fixed assets -€18,796
down €18,796 (-30.0%), from €62,635 to €43,839
of which Furniture and vehicles: -€17,648
- Deferred charges and accrued income +€8,240
new in 2025: €8,240
- Reserves +€29,355
up €29,355 (+7.4%), from €396,100 to €425,455
- Debts after one year -€12,568
down €12,568 (-39.4%), from €31,859 to €19,291
- Tax, wage and social debts +€8,204
up €8,204 (+51.4%), from €15,950 to €24,154
- Financial income -€17,750
down €17,750 (-100.0%), from €17,755 to €5
- Gross operating margin +€6,128
up €6,128 (+5.3%), from €116,093 to €122,221
- Taxes -€2,009
down €2,009 (-6.5%), from €31,049 to €29,040
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 | €471,136 | €492,178 | +€21,042 | +4.5% |
| Fixed assets | 21/28 | €62,635 | €43,839 | -€18,796 | -30.0% |
| Tangible fixed assets | 22/27 | €62,635 | €43,839 | -€18,796 | -30.0% |
| Plant, machinery and equipment | 23 | €6,143 | €4,995 | -€1,148 | -18.7% |
| Furniture and vehicles | 24 | €56,492 | €38,843 | -€17,648 | -31.2% |
| Current assets | 29/58 | €408,501 | €448,339 | +€39,838 | +9.8% |
| Amounts receivable within one year | 40/41 | €309,930 | €377,680 | +€67,750 | +21.9% |
| Trade receivables | 40 | €12,013 | €13,915 | +€1,903 | +15.8% |
| Other amounts receivable | 41 | €297,917 | €363,764 | +€65,847 | +22.1% |
| Cash at bank and in hand | 54/58 | €98,571 | €62,419 | -€36,152 | -36.7% |
| Deferred charges and accrued income | 490/1 | - | €8,240 | +€8,240 | |
| Total equity and liabilities | 10/49 | €471,136 | €492,178 | +€21,042 | +4.5% |
| Equity | 10/15 | €405,416 | €434,770 | +€29,355 | +7.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €396,100 | €425,455 | +€29,355 | +7.4% |
| Distributable reserves | 133 | €396,100 | €425,455 | +€29,355 | +7.4% |
| Profit (loss) carried forward | 14 | €3,116 | €3,116 | = | 0.0% |
| Amounts payable | 17/49 | €65,720 | €57,408 | -€8,313 | -12.6% |
| Amounts payable after more than one year | 17 | €31,859 | €19,291 | -€12,568 | -39.4% |
| Financial debts | 170/4 | €31,859 | €19,291 | -€12,568 | -39.4% |
| Amounts payable within one year | 42/48 | €33,862 | €37,117 | +€3,255 | +9.6% |
| Current portion of amounts payable after more than one year | 42 | €14,100 | €12,355 | -€1,745 | -12.4% |
| Trade debts | 44 | €3,812 | €608 | -€3,204 | -84.1% |
| Suppliers | 440/4 | €3,812 | €608 | -€3,204 | -84.1% |
| Taxes, remuneration and social security | 45 | €15,950 | €24,154 | +€8,204 | +51.4% |
| Taxes | 450/3 | €15,950 | €24,154 | +€8,204 | +51.4% |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Non-recurring operating income | 76A | €3,500 | - | -€3,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,449 | €19,557 | -€892 | -4.4% |
| Other operating charges | 640/8 | €528 | €689 | +€161 | +30.5% |
| Non-recurring operating charges | 66A | €145 | - | -€145 | |
| Gross operating margin | 9900 | €116,093 | €122,221 | +€6,128 | +5.3% |
| Operating profit (loss) | 9901 | €94,971 | €101,975 | +€7,004 | +7.4% |
| Financial income | 75/76B | €17,755 | €5 | -€17,750 | -100.0% |
| Recurring financial income | 75 | €17,755 | €5 | -€17,750 | -100.0% |
| Financial charges | 65/66B | €2,156 | €1,585 | -€570 | -26.5% |
| Recurring financial charges | 65 | €2,156 | €1,585 | -€570 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | €110,571 | €100,395 | -€10,176 | -9.2% |
| Income taxes | 67/77 | €31,049 | €29,040 | -€2,009 | -6.5% |
| Profit (loss) for the period | 9904 | €79,521 | €71,355 | -€8,167 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €79,521 | €71,355 | -€8,167 | -10.3% |
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 19 October 2026 via checked.be.