SMETIM: what changed
Two fiscal 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.
SMETIM
Largest movements
- Tangible fixed assets -€14,991
down €14,991 (-9.7%), from €154,615 to €139,624
of which Land and buildings: -€9,243
- Cash -€3,620
down €3,620 (-44.9%), from €8,069 to €4,449
mainly Tax, wage and social debts (-€8,232) and Current portion of long-term debt (-€7,111)
- Deferred charges and accrued income +€2,987
up €2,987 (+279.8%), from €1,067 to €4,055
- Tax, wage and social debts -€8,232
down €8,232 (-56.1%), from €14,672 to €6,439
- Current portion of long-term debt -€7,111
no longer reported in 2025 (was €7,111)
- Profit (loss) carried forward -€1,831
down €1,831 (-3.7%), from -€49,339 to -€51,170
- Turnover -€41,000
no longer reported in 2025 (was €41,000)
- Purchases and services -€19,456
no longer reported in 2025 (was €19,456)
- Other operating charges -€18,348
down €18,348 (-83.7%), from €21,915 to €3,567
- Depreciation +€4,238
up €4,238 (+39.4%), from €10,753 to €14,991
- Gross operating margin -€2,822
down €2,822 (-13.1%), from €21,544 to €18,722
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.
Cash bridge derived
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 | €177,610 | €160,440 | -€17,169 | -9.7% |
| Fixed assets | 21/28 | €157,554 | €142,563 | -€14,991 | -9.5% |
| Tangible fixed assets | 22/27 | €154,615 | €139,624 | -€14,991 | -9.7% |
| Land and buildings | 22 | €147,020 | €137,777 | -€9,243 | -6.3% |
| Plant, machinery and equipment | 23 | €305 | €45 | -€260 | -85.1% |
| Furniture and vehicles | 24 | €7,290 | €1,802 | -€5,488 | -75.3% |
| Financial fixed assets | 28 | €2,939 | €2,939 | = | 0.0% |
| Current assets | 29/58 | €20,056 | €17,878 | -€2,178 | -10.9% |
| Amounts receivable within one year | 40/41 | €10,920 | €9,374 | -€1,546 | -14.2% |
| Trade receivables | 40 | €10,864 | €8,950 | -€1,914 | -17.6% |
| Other amounts receivable | 41 | €56 | €424 | +€369 | +661.5% |
| Cash at bank and in hand | 54/58 | €8,069 | €4,449 | -€3,620 | -44.9% |
| Deferred charges and accrued income | 490/1 | €1,067 | €4,055 | +€2,987 | +279.8% |
| Total equity and liabilities | 10/49 | €177,610 | €160,440 | -€17,169 | -9.7% |
| Equity | 10/15 | €55,616 | €53,785 | -€1,831 | -3.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €86,355 | €86,355 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,131 | €33,131 | = | 0.0% |
| Distributable reserves | 133 | €51,365 | €51,365 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,339 | -€51,170 | -€1,831 | -3.7% |
| Provisions and deferred taxes | 16 | €22,040 | €22,040 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,000 | €5,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €5,000 | €5,000 | = | 0.0% |
| Deferred taxes | 168 | €17,040 | €17,040 | = | 0.0% |
| Amounts payable | 17/49 | €99,953 | €84,615 | -€15,338 | -15.3% |
| Amounts payable within one year | 42/48 | €99,953 | €84,615 | -€15,338 | -15.3% |
| Current portion of amounts payable after more than one year | 42 | €7,111 | - | -€7,111 | |
| Trade debts | 44 | €3,230 | €2,990 | -€239 | -7.4% |
| Suppliers | 440/4 | €3,230 | €2,990 | -€239 | -7.4% |
| Taxes, remuneration and social security | 45 | €14,672 | €6,439 | -€8,232 | -56.1% |
| Taxes | 450/3 | €14,672 | €6,439 | -€8,232 | -56.1% |
| Other amounts payable | 47/48 | €74,941 | €75,185 | +€245 | +0.3% |
| Turnover | 70 | €41,000 | - | -€41,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €19,456 | - | -€19,456 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,753 | €14,991 | +€4,238 | +39.4% |
| Other operating charges | 640/8 | €21,915 | €3,567 | -€18,348 | -83.7% |
| Gross operating margin | 9900 | €21,544 | €18,722 | -€2,822 | -13.1% |
| Operating profit (loss) | 9901 | -€11,124 | €164 | +€11,288 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +5900.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +5900.0% |
| Financial charges | 65/66B | €1,292 | €1,861 | +€568 | +44.0% |
| Recurring financial charges | 65 | €1,292 | €1,861 | +€568 | +44.0% |
| Profit (loss) for the period before taxes | 9903 | -€12,416 | -€1,696 | +€10,720 | +86.3% |
| Transfer from deferred taxes | 780 | €764 | - | -€764 | |
| Income taxes | 67/77 | - | €135 | +€135 | |
| Profit (loss) for the period | 9904 | -€11,652 | -€1,831 | +€9,821 | +84.3% |
| Transfer from tax-exempt reserves | 789 | €1,484 | - | -€1,484 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,169 | -€1,831 | +€8,338 | +82.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.