SMET TEMSE: 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 TEMSE
Largest movements
- Cash -€156,674
down €156,674 (-76.5%), from €204,892 to €48,219
mainly Contributions, distributions and other (-€235,294) and Investment in fixed assets (net) (-€175,375)
- Tangible fixed assets +€139,048
up €139,048 (+133%), from €104,674 to €243,722
of which Plant, machinery and equipment: +€166,916
- Receivables within one year +€48,639
up €48,639 (+22.1%), from €219,796 to €268,435
of which Trade receivables: +€45,295
- Reserves +€38,123
up €38,123 (+1,906%), from €2,000 to €40,123
of which Distributable reserves: +€38,123
- Other debts +€28,030
up €28,030 (+7.8%), from €359,560 to €387,589
- Current portion of long-term debt -€19,917
down €19,917 (-100%), from €19,917 to €0
- Tax, wage and social debts -€13,550
down €13,550 (-14.1%), from €96,307 to €82,757
of which Taxes: -€11,017
- Gross operating margin -€31,651
down €31,651 (-5.3%), from €595,136 to €563,485
- Write-downs -€17,868
down €17,868, from €17,506 to -€362
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 | €579,107 | €608,985 | +€29,877 | +5.2% |
| Fixed assets | 21/28 | €113,467 | €252,515 | +€139,048 | +123% |
| Tangible fixed assets | 22/27 | €104,674 | €243,722 | +€139,048 | +133% |
| Plant, machinery and equipment | 23 | €5,890 | €172,806 | +€166,916 | +2,834% |
| Furniture and vehicles | 24 | €96,651 | €69,849 | -€26,802 | -27.7% |
| Other tangible fixed assets | 26 | €2,134 | €1,067 | -€1,067 | -50.0% |
| Financial fixed assets | 28 | €8,793 | €8,793 | = | 0.0% |
| Current assets | 29/58 | €465,640 | €356,470 | -€109,170 | -23.4% |
| Stocks and contracts in progress | 3 | €32,075 | €29,900 | -€2,175 | -6.8% |
| Stocks | 30/36 | €32,075 | €29,900 | -€2,175 | -6.8% |
| Amounts receivable within one year | 40/41 | €219,796 | €268,435 | +€48,639 | +22.1% |
| Trade receivables | 40 | €218,863 | €264,157 | +€45,295 | +20.7% |
| Other amounts receivable | 41 | €934 | €4,278 | +€3,344 | +358% |
| Cash at bank and in hand | 54/58 | €204,892 | €48,219 | -€156,674 | -76.5% |
| Deferred charges and accrued income | 490/1 | €8,877 | €9,916 | +€1,040 | +11.7% |
| Total equity and liabilities | 10/49 | €579,107 | €608,985 | +€29,877 | +5.2% |
| Equity | 10/15 | €22,000 | €60,123 | +€38,123 | +173% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €40,123 | +€38,123 | +1,906% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,000 | €40,123 | +€38,123 | +1,906% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €557,107 | €548,862 | -€8,245 | -1.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €553,828 | €544,675 | -€9,154 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €19,917 | €0 | -€19,917 | -100% |
| Trade debts | 44 | €78,045 | €74,329 | -€3,717 | -4.8% |
| Suppliers | 440/4 | €78,045 | €74,329 | -€3,717 | -4.8% |
| Taxes, remuneration and social security | 45 | €96,307 | €82,757 | -€13,550 | -14.1% |
| Taxes | 450/3 | €69,298 | €58,281 | -€11,017 | -15.9% |
| Remuneration and social security | 454/9 | €27,009 | €24,476 | -€2,533 | -9.4% |
| Other amounts payable | 47/48 | €359,560 | €387,589 | +€28,030 | +7.8% |
| Accrued charges and deferred income | 492/3 | €3,279 | €4,187 | +€909 | +27.7% |
| Non-recurring operating income | 76A | €18,000 | €57 | -€17,944 | -99.7% |
| Remuneration, social security and pensions | 62 | €163,935 | €164,575 | +€640 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,225 | €36,327 | -€3,898 | -9.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €17,506 | -€362 | -€17,868 | |
| Other operating charges | 640/8 | €3,336 | €3,095 | -€241 | -7.2% |
| Non-recurring operating charges | 66A | €18,454 | €0 | -€18,454 | -100% |
| Gross operating margin | 9900 | €595,136 | €563,485 | -€31,651 | -5.3% |
| Operating profit (loss) | 9901 | €351,680 | €359,849 | +€8,169 | +2.3% |
| Financial income | 75/76B | €1,039 | €779 | -€260 | -25.0% |
| Recurring financial income | 75 | €1,039 | €779 | -€260 | -25.0% |
| Financial charges | 65/66B | €4,896 | €5,138 | +€242 | +4.9% |
| Recurring financial charges | 65 | €4,896 | €5,138 | +€242 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | €347,823 | €355,490 | +€7,667 | +2.2% |
| Income taxes | 67/77 | €84,944 | €82,073 | -€2,871 | -3.4% |
| Profit (loss) for the period | 9904 | €262,879 | €273,417 | +€10,538 | +4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €262,879 | €273,417 | +€10,538 | +4.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.