SMETS: 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.
SMETS
Largest movements
- Tangible fixed assets -€19,295
down €19,295 (-4.2%), from €464,638 to €445,343
of which Leasing and similar rights: -€12,547
- Receivables within one year +€11,537
up €11,537 (+28.9%), from €39,978 to €51,516
- Cash +€8,958
up €8,958 (+1608.2%), from €557 to €9,515
mainly Depreciation (+€19,295) and Net result for the year (+€4,379)
- Debts after one year -€6,325
down €6,325 (-1.6%), from €397,982 to €391,657
- Gross operating margin -€5,940
down €5,940 (-17.3%), from €34,414 to €28,473
- Taxes -€1,257
down €1,257 (-51.4%), from €2,446 to €1,189
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 | €505,174 | €506,374 | +€1,200 | +0.2% |
| Fixed assets | 21/28 | €464,638 | €445,343 | -€19,295 | -4.2% |
| Tangible fixed assets | 22/27 | €464,638 | €445,343 | -€19,295 | -4.2% |
| Land and buildings | 22 | €283,425 | €276,677 | -€6,748 | -2.4% |
| Leasing and similar rights | 25 | €181,214 | €168,666 | -€12,547 | -6.9% |
| Current assets | 29/58 | €40,535 | €61,031 | +€20,495 | +50.6% |
| Amounts receivable within one year | 40/41 | €39,978 | €51,516 | +€11,537 | +28.9% |
| Trade receivables | 40 | €39,978 | €51,516 | +€11,537 | +28.9% |
| Cash at bank and in hand | 54/58 | €557 | €9,515 | +€8,958 | +1608.2% |
| Total equity and liabilities | 10/49 | €505,174 | €506,374 | +€1,200 | +0.2% |
| Equity | 10/15 | -€219,413 | -€215,034 | +€4,379 | +2.0% |
| Contributions | 10/11 | €37,185 | €37,185 | = | 0.0% |
| Reserves | 13 | €3,718 | €3,718 | = | 0.0% |
| Distributable reserves | 133 | €3,718 | €3,718 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€260,317 | -€255,937 | +€4,379 | +1.7% |
| Amounts payable | 17/49 | €724,587 | €721,408 | -€3,179 | -0.4% |
| Amounts payable after more than one year | 17 | €397,982 | €391,657 | -€6,325 | -1.6% |
| Financial debts | 170/4 | €397,982 | €391,657 | -€6,325 | -1.6% |
| Amounts payable within one year | 42/48 | €326,605 | €329,751 | +€3,146 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €6,723 | €6,847 | +€124 | +1.8% |
| Trade debts | 44 | €1,516 | €1,116 | -€400 | -26.4% |
| Suppliers | 440/4 | €1,516 | €1,116 | -€400 | -26.4% |
| Taxes, remuneration and social security | 45 | €4,001 | €5,437 | +€1,436 | +35.9% |
| Taxes | 450/3 | €4,001 | €5,437 | +€1,436 | +35.9% |
| Other amounts payable | 47/48 | €314,365 | €316,351 | +€1,986 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,295 | €19,295 | = | 0.0% |
| Other operating charges | 640/8 | €1,658 | €1,539 | -€119 | -7.2% |
| Gross operating margin | 9900 | €34,414 | €28,473 | -€5,940 | -17.3% |
| Operating profit (loss) | 9901 | €13,460 | €7,639 | -€5,821 | -43.2% |
| Financial income | 75/76B | - | €23 | +€23 | |
| Recurring financial income | 75 | - | €23 | +€23 | |
| Financial charges | 65/66B | €2,240 | €2,094 | -€146 | -6.5% |
| Recurring financial charges | 65 | €2,240 | €2,094 | -€146 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €11,220 | €5,568 | -€5,652 | -50.4% |
| Income taxes | 67/77 | €2,446 | €1,189 | -€1,257 | -51.4% |
| Profit (loss) for the period | 9904 | €8,774 | €4,379 | -€4,395 | -50.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,774 | €4,379 | -€4,395 | -50.1% |
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 28 September 2026 via checked.be.