Smets: 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.
Smets
Largest movements
- Tangible fixed assets -€16,869
down €16,869 (-2.6%), from €657,139 to €640,270
of which Land and buildings: -€16,869
- Debts after one year -€16,687
down €16,687 (-100%), from €16,687 to €0
- Depreciation +€1,488
up €1,488 (+9.7%), from €15,381 to €16,869
- Gross operating margin -€300
down €300 (-1.1%), from €26,932 to €26,632
- Financial charges -€279
down €279 (-32.5%), from €859 to €580
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 | €667,827 | €655,701 | -€12,126 | -1.8% |
| Fixed assets | 21/28 | €657,139 | €640,270 | -€16,869 | -2.6% |
| Tangible fixed assets | 22/27 | €657,139 | €640,270 | -€16,869 | -2.6% |
| Land and buildings | 22 | €655,910 | €639,040 | -€16,869 | -2.6% |
| Other tangible fixed assets | 26 | €1,230 | €1,230 | = | 0.0% |
| Current assets | 29/58 | €10,688 | €15,431 | +€4,743 | +44.4% |
| Amounts receivable within one year | 40/41 | €4,356 | €2,952 | -€1,404 | -32.2% |
| Trade receivables | 40 | €4,356 | €2,952 | -€1,404 | -32.2% |
| Cash at bank and in hand | 54/58 | €5,026 | €7,519 | +€2,492 | +49.6% |
| Deferred charges and accrued income | 490/1 | €1,306 | €4,961 | +€3,655 | +280% |
| Total equity and liabilities | 10/49 | €667,827 | €655,701 | -€12,126 | -1.8% |
| Equity | 10/15 | €354,243 | €357,317 | +€3,074 | +0.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €335,651 | €338,725 | +€3,074 | +0.9% |
| Distributable reserves | 133 | €335,651 | €338,725 | +€3,074 | +0.9% |
| Amounts payable | 17/49 | €313,584 | €298,384 | -€15,200 | -4.8% |
| Amounts payable after more than one year | 17 | €16,687 | €0 | -€16,687 | -100% |
| Financial debts | 170/4 | €16,687 | €0 | -€16,687 | -100% |
| Amounts payable within one year | 42/48 | €296,747 | €298,317 | +€1,570 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €19,423 | €18,193 | -€1,230 | -6.3% |
| Trade debts | 44 | €57 | €54 | -€3 | -5.5% |
| Suppliers | 440/4 | €57 | €54 | -€3 | -5.5% |
| Taxes, remuneration and social security | 45 | €1,539 | €1,837 | +€299 | +19.4% |
| Taxes | 450/3 | €1,539 | €1,837 | +€299 | +19.4% |
| Other amounts payable | 47/48 | €275,729 | €278,233 | +€2,505 | +0.9% |
| Accrued charges and deferred income | 492/3 | €150 | €67 | -€83 | -55.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,381 | €16,869 | +€1,488 | +9.7% |
| Other operating charges | 640/8 | €5,784 | €5,839 | +€55 | +0.9% |
| Gross operating margin | 9900 | €26,932 | €26,632 | -€300 | -1.1% |
| Operating profit (loss) | 9901 | €5,766 | €3,923 | -€1,843 | -32.0% |
| Financial income | 75/76B | - | €37 | +€37 | |
| Recurring financial income | 75 | - | €37 | +€37 | |
| Financial charges | 65/66B | €859 | €580 | -€279 | -32.5% |
| Recurring financial charges | 65 | €859 | €580 | -€279 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €4,907 | €3,381 | -€1,527 | -31.1% |
| Income taxes | 67/77 | €446 | €307 | -€139 | -31.2% |
| Profit (loss) for the period | 9904 | €4,461 | €3,074 | -€1,388 | -31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,461 | €3,074 | -€1,388 | -31.1% |
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 13 October 2026 via checked.be.