SMET - VAN ROYEN: 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 - VAN ROYEN
Largest movements
- Stocks and contracts +€110,651
up €110,651 (+5.4%), from €2.1m to €2.2m
- Other debts +€111,500
up €111,500 (+12.3%), from €908,000 to €1.0m
- Accrued charges and deferred income +€31,834
up €31,834 (+36.3%), from €87,726 to €119,559
- Gross operating margin -€1,748
down €1,748 (-221%), from -€790 to -€2,538
- Financial income -€493
down €493 (-3.6%), from €13,638 to €13,145
- Financial charges -€209
down €209 (-1.4%), from €14,503 to €14,294
- Other operating charges +€36
up €36 (+3.1%), from €1,143 to €1,179
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 | €2,415,310 | €2,555,345 | +€140,035 | +5.8% |
| Fixed assets | 21/28 | €94,500 | €94,500 | = | 0.0% |
| Financial fixed assets | 28 | €94,500 | €94,500 | = | 0.0% |
| Current assets | 29/58 | €2,320,810 | €2,460,845 | +€140,035 | +6.0% |
| Stocks and contracts in progress | 3 | €2,051,667 | €2,162,318 | +€110,651 | +5.4% |
| Stocks | 30/36 | €2,051,667 | €2,162,318 | +€110,651 | +5.4% |
| Amounts receivable within one year | 40/41 | €224,587 | €247,363 | +€22,777 | +10.1% |
| Other amounts receivable | 41 | €224,587 | €247,363 | +€22,777 | +10.1% |
| Cash at bank and in hand | 54/58 | €11,571 | €5,034 | -€6,536 | -56.5% |
| Deferred charges and accrued income | 490/1 | €32,986 | €46,129 | +€13,144 | +39.8% |
| Total equity and liabilities | 10/49 | €2,415,310 | €2,555,345 | +€140,035 | +5.8% |
| Equity | 10/15 | €124,342 | €119,476 | -€4,866 | -3.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €146,786 | €146,786 | = | 0.0% |
| Distributable reserves | 133 | €146,786 | €146,786 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,044 | -€45,910 | -€4,866 | -11.9% |
| Amounts payable | 17/49 | €2,290,968 | €2,435,868 | +€144,901 | +6.3% |
| Amounts payable within one year | 42/48 | €2,203,242 | €2,316,309 | +€113,067 | +5.1% |
| Financial debts | 43 | €1,295,000 | €1,295,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,295,000 | €1,295,000 | = | 0.0% |
| Trade debts | 44 | €242 | €1,809 | +€1,567 | +648% |
| Suppliers | 440/4 | €242 | €1,809 | +€1,567 | +648% |
| Other amounts payable | 47/48 | €908,000 | €1,019,500 | +€111,500 | +12.3% |
| Accrued charges and deferred income | 492/3 | €87,726 | €119,559 | +€31,834 | +36.3% |
| Other operating charges | 640/8 | €1,143 | €1,179 | +€36 | +3.1% |
| Gross operating margin | 9900 | -€790 | -€2,538 | -€1,748 | -221% |
| Operating profit (loss) | 9901 | -€1,933 | -€3,717 | -€1,784 | -92.3% |
| Financial income | 75/76B | €13,638 | €13,145 | -€493 | -3.6% |
| Recurring financial income | 75 | €13,638 | €13,145 | -€493 | -3.6% |
| Financial charges | 65/66B | €14,503 | €14,294 | -€209 | -1.4% |
| Recurring financial charges | 65 | €14,503 | €14,294 | -€209 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,798 | -€4,866 | -€2,068 | -73.9% |
| Profit (loss) for the period | 9904 | -€2,798 | -€4,866 | -€2,068 | -73.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,798 | -€4,866 | -€2,068 | -73.9% |
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 30 October 2026 via checked.be.