SMET PILE: what changed
What changed
SMET PILE
NACE 43.120, Site preparation
filed annual accounts (NBB)
Net result for the year
€856,238
2024 · €111,112+€745,126
Equity
€1.8m
2024 · €973,488+€856,238
Cash
€234,994
2024 · €146,735+€88,259
Balance sheet total
€10.3m
2024 · €6.9m+€3.4m
Largest movements
Assets
- Receivables within one year +€2.7m
up €2.7m (+74.2%), from €3.6m to €6.3m
of which Trade receivables: +€2.7m
- Tangible fixed assets +€714,944
up €714,944 (+24.0%), from €3.0m to €3.7m
of which Leasing and similar rights: +€698,919
Equity and liabilities
- Other debts +€1.9m
up €1.9m (+150%), from €1.3m to €3.2m
- Trade debts -€1.6m
down €1.6m (-50.0%), from €3.1m to €1.6m
- Debts after one year +€1.2m
up €1.2m (+106%), from €1.1m to €2.3m
- Reserves +€856,238
up €856,238 (+149%), from €573,488 to €1.4m
of which Distributable reserves: +€847,041
- Accrued charges and deferred income +€618,015
up €618,015 (+441,818%), from €140 to €618,155
Income statement
- Gross operating margin +€1.3m
up €1.3m (+117%), from €1.1m to €2.4m
- Taxes +€249,247
up €249,247 (+640%), from €38,934 to €288,180
- Staff costs +€161,158
up €161,158 (+58.5%), from €275,598 to €436,756
- Depreciation +€65,781
up €65,781 (+10.8%), from €610,305 to €676,087
- Financial charges +€53,302
up €53,302 (+80.0%), from €66,654 to €119,955
of which Non-recurring financial charges: +€32,289
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
€111,112
Gross operating margin
+€1.3m
Staff costs
-€161,158
Depreciation
-€65,781
Other operating charges
-€21,003
Financial income
-€0
Financial charges
-€53,302
Taxes
-€249,247
Result 2025
€856,238
raises the resultlowers the result
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
-€50,694
Investment
-€1.4m
Financing
+€1.5m
Cash 2024
€146,735
From operations (derived)
-€50,694
Net result for the year
+€856,238
Depreciation
+€676,087
Stocks and contracts
+€21,216
Receivables within one year
-€2.7m
Deferred charges and accrued income
+€93,654
Trade debts
-€1.6m
Tax, wage and social debts
+€38,219
Other debts
+€1.9m
Accrued charges and deferred income
+€618,015
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.4m
Financing
+€1.5m
Debts after one year
+€1.2m
Current portion of long-term debt
+€94,453
Short-term financial debts
+€277,000
Cash 2025
€234,994
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,914,576 | €10,298,475 | +€3.4m | +48.9% |
| Fixed assets | 21/28 | €2,977,801 | €3,692,745 | +€714,944 | +24.0% |
| Tangible fixed assets | 22/27 | €2,977,801 | €3,692,745 | +€714,944 | +24.0% |
| Plant, machinery and equipment | 23 | €599,550 | €1,006,677 | +€407,127 | +67.9% |
| Leasing and similar rights | 25 | €1,987,148 | €2,686,067 | +€698,919 | +35.2% |
| Assets under construction and advance payments | 27 | €391,103 | - | -€391,103 | |
| Current assets | 29/58 | €3,936,775 | €6,605,730 | +€2.7m | +67.8% |
| Stocks and contracts in progress | 3 | €27,699 | €6,483 | -€21,216 | -76.6% |
| Contracts in progress | 37 | €27,699 | €6,483 | -€21,216 | -76.6% |
| Amounts receivable within one year | 40/41 | €3,632,299 | €6,327,865 | +€2.7m | +74.2% |
| Trade receivables | 40 | €3,413,296 | €6,118,965 | +€2.7m | +79.3% |
| Other amounts receivable | 41 | €219,003 | €208,900 | -€10,103 | -4.6% |
| Cash at bank and in hand | 54/58 | €146,735 | €234,994 | +€88,259 | +60.1% |
| Deferred charges and accrued income | 490/1 | €130,042 | €36,388 | -€93,654 | -72.0% |
| Total equity and liabilities | 10/49 | €6,914,576 | €10,298,475 | +€3.4m | +48.9% |
| Equity | 10/15 | €973,488 | €1,829,726 | +€856,238 | +88.0% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €573,488 | €1,429,726 | +€856,238 | +149% |
| Non-distributable reserves | 130/1 | €30,804 | €40,000 | +€9,196 | +29.9% |
| Legal reserve | 130 | €30,804 | €40,000 | +€9,196 | +29.9% |
| Distributable reserves | 133 | €542,685 | €1,389,726 | +€847,041 | +156% |
| Amounts payable | 17/49 | €5,941,087 | €8,468,748 | +€2.5m | +42.5% |
| Amounts payable after more than one year | 17 | €1,096,964 | €2,255,494 | +€1.2m | +106% |
| Financial debts | 170/4 | €1,096,964 | €2,255,494 | +€1.2m | +106% |
| Amounts payable within one year | 42/48 | €4,843,984 | €5,595,099 | +€751,115 | +15.5% |
| Current portion of amounts payable after more than one year | 42 | €342,739 | €437,192 | +€94,453 | +27.6% |
| Financial debts | 43 | - | €277,000 | +€277,000 | |
| Credit institutions | 430/8 | - | €277,000 | +€277,000 | |
| Trade debts | 44 | €3,147,527 | €1,574,384 | -€1.6m | -50.0% |
| Suppliers | 440/4 | €3,147,527 | €1,574,384 | -€1.6m | -50.0% |
| Taxes, remuneration and social security | 45 | €78,181 | €116,400 | +€38,219 | +48.9% |
| Taxes | 450/3 | €38,808 | €36,355 | -€2,453 | -6.3% |
| Remuneration and social security | 454/9 | €39,373 | €80,045 | +€40,672 | +103% |
| Other amounts payable | 47/48 | €1,275,537 | €3,190,123 | +€1.9m | +150% |
| Accrued charges and deferred income | 492/3 | €140 | €618,155 | +€618,015 | +441,818% |
| Non-recurring operating income | 76A | €476 | - | -€476 | |
| Remuneration, social security and pensions | 62 | €275,598 | €436,756 | +€161,158 | +58.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €610,305 | €676,087 | +€65,781 | +10.8% |
| Other operating charges | 640/8 | €3,889 | €24,892 | +€21,003 | +540% |
| Gross operating margin | 9900 | €1,106,490 | €2,402,109 | +€1.3m | +117% |
| Operating profit (loss) | 9901 | €216,698 | €1,264,374 | +€1.0m | +483% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €66,654 | €119,955 | +€53,302 | +80.0% |
| Recurring financial charges | 65 | €61,501 | €82,513 | +€21,013 | +34.2% |
| Non-recurring financial charges | 66B | €5,153 | €37,442 | +€32,289 | +627% |
| Profit (loss) for the period before taxes | 9903 | €150,045 | €1,144,418 | +€994,373 | +663% |
| Income taxes | 67/77 | €38,934 | €288,180 | +€249,247 | +640% |
| Profit (loss) for the period | 9904 | €111,112 | €856,238 | +€745,126 | +671% |
| Profit (loss) for the period to be appropriated | 9905 | €111,112 | €856,238 | +€745,126 | +671% |
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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 5 November 2026 via checked.be.