Smet Jonas: 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 Jonas
Largest movements
- Receivables within one year +€50,070
up €50,070 (+127%), from €39,378 to €89,448
of which Trade receivables: +€54,301
- Current investments +€50,000
new in 2025: €50,000
- Tangible fixed assets -€35,900
down €35,900 (-34.4%), from €104,433 to €68,533
of which Plant, machinery and equipment: -€21,400
- Cash -€3,040
down €3,040 (-3.5%), from €87,773 to €84,732
mainly Receivables within one year (-€50,070) and Current investments (-€50,000)
- Reserves +€70,211
up €70,211 (+41.0%), from €171,123 to €241,334
- Other debts -€12,539
down €12,539 (-28.7%), from €43,644 to €31,105
- Tax, wage and social debts +€8,291
up €8,291 (+194%), from €4,264 to €12,555
of which Taxes: +€8,291
- Trade debts -€3,324
down €3,324 (-54.4%), from €6,112 to €2,788
- Gross operating margin +€15,329
up €15,329 (+13.0%), from €118,179 to €133,508
- Depreciation +€6,978
up €6,978 (+20.2%), from €34,604 to €41,582
- Taxes +€2,465
up €2,465 (+15.1%), from €16,353 to €18,818
- Other operating charges +€1,605
up €1,605 (+134%), from €1,195 to €2,800
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 | €236,686 | €297,782 | +€61,096 | +25.8% |
| Fixed assets | 21/28 | €104,433 | €68,533 | -€35,900 | -34.4% |
| Tangible fixed assets | 22/27 | €104,433 | €68,533 | -€35,900 | -34.4% |
| Plant, machinery and equipment | 23 | €51,298 | €29,897 | -€21,400 | -41.7% |
| Furniture and vehicles | 24 | €48,456 | €36,139 | -€12,317 | -25.4% |
| Other tangible fixed assets | 26 | €4,679 | €2,496 | -€2,183 | -46.7% |
| Current assets | 29/58 | €132,253 | €229,250 | +€96,996 | +73.3% |
| Stocks and contracts in progress | 3 | - | €1,500 | +€1,500 | |
| Stocks | 30/36 | - | €1,500 | +€1,500 | |
| Amounts receivable within one year | 40/41 | €39,378 | €89,448 | +€50,070 | +127% |
| Trade receivables | 40 | €33,419 | €87,720 | +€54,301 | +162% |
| Other amounts receivable | 41 | €5,959 | €1,728 | -€4,232 | -71.0% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €87,773 | €84,732 | -€3,040 | -3.5% |
| Deferred charges and accrued income | 490/1 | €5,102 | €3,569 | -€1,533 | -30.0% |
| Total equity and liabilities | 10/49 | €236,686 | €297,782 | +€61,096 | +25.8% |
| Equity | 10/15 | €181,123 | €251,334 | +€70,211 | +38.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €171,123 | €241,334 | +€70,211 | +41.0% |
| Distributable reserves | 133 | €171,123 | €241,334 | +€70,211 | +41.0% |
| Amounts payable | 17/49 | €55,563 | €46,448 | -€9,115 | -16.4% |
| Amounts payable within one year | 42/48 | €55,563 | €46,448 | -€9,115 | -16.4% |
| Current portion of amounts payable after more than one year | 42 | €1,543 | - | -€1,543 | |
| Trade debts | 44 | €6,112 | €2,788 | -€3,324 | -54.4% |
| Suppliers | 440/4 | €6,112 | €2,788 | -€3,324 | -54.4% |
| Taxes, remuneration and social security | 45 | €4,264 | €12,555 | +€8,291 | +194% |
| Taxes | 450/3 | €2,264 | €10,555 | +€8,291 | +366% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €43,644 | €31,105 | -€12,539 | -28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,604 | €41,582 | +€6,978 | +20.2% |
| Other operating charges | 640/8 | €1,195 | €2,800 | +€1,605 | +134% |
| Gross operating margin | 9900 | €118,179 | €133,508 | +€15,329 | +13.0% |
| Operating profit (loss) | 9901 | €82,379 | €89,125 | +€6,746 | +8.2% |
| Financial income | 75/76B | - | €76 | +€76 | |
| Recurring financial income | 75 | - | €76 | +€76 | |
| Financial charges | 65/66B | €359 | €172 | -€188 | -52.2% |
| Recurring financial charges | 65 | €359 | €172 | -€188 | -52.2% |
| Profit (loss) for the period before taxes | 9903 | €82,020 | €89,029 | +€7,010 | +8.5% |
| Income taxes | 67/77 | €16,353 | €18,818 | +€2,465 | +15.1% |
| Profit (loss) for the period | 9904 | €65,667 | €70,211 | +€4,544 | +6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €65,667 | €70,211 | +€4,544 | +6.9% |
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 27 October 2026 via checked.be.