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
- Cash +€53,913
up €53,913 (+99.2%), from €54,346 to €108,260
mainly Depreciation (+€59,110) and Net result for the year (+€41,090)
- Tangible fixed assets -€15,887
down €15,887 (-10.7%), from €148,179 to €132,292
of which Plant, machinery and equipment: -€35,121
- Receivables within one year +€8,186
up €8,186 (+8.9%), from €91,897 to €100,083
of which Trade receivables: +€12,795
- Current portion of long-term debt +€19,647
up €19,647 (+45.9%), from €42,816 to €62,464
- Other debts +€18,000
up €18,000 (+257%), from €7,000 to €25,000
- Reserves +€16,090
up €16,090 (+12.7%), from €126,322 to €142,411
- Debts after one year -€8,715
down €8,715 (-12.0%), from €72,872 to €64,157
- Trade debts +€4,234
up €4,234 (+14.9%), from €28,428 to €32,662
- Gross operating margin +€20,288
up €20,288 (+19.8%), from €102,465 to €122,753
- Depreciation +€10,608
up €10,608 (+21.9%), from €48,502 to €59,110
- Other operating charges +€2,502
up €2,502 (+110%), from €2,276 to €4,778
- Taxes +€2,139
up €2,139 (+15.6%), from €13,714 to €15,852
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 | €300,648 | €345,383 | +€44,734 | +14.9% |
| Fixed assets | 21/28 | €148,988 | €133,196 | -€15,792 | -10.6% |
| Tangible fixed assets | 22/27 | €148,179 | €132,292 | -€15,887 | -10.7% |
| Land and buildings | 22 | €6,112 | €4,212 | -€1,900 | -31.1% |
| Plant, machinery and equipment | 23 | €109,856 | €74,735 | -€35,121 | -32.0% |
| Furniture and vehicles | 24 | €32,211 | €53,345 | +€21,133 | +65.6% |
| Financial fixed assets | 28 | €808 | €903 | +€95 | +11.8% |
| Current assets | 29/58 | €151,660 | €212,187 | +€60,526 | +39.9% |
| Stocks and contracts in progress | 3 | €5,417 | €3,842 | -€1,575 | -29.1% |
| Stocks | 30/36 | €5,417 | €3,842 | -€1,575 | -29.1% |
| Amounts receivable within one year | 40/41 | €91,897 | €100,083 | +€8,186 | +8.9% |
| Trade receivables | 40 | €43,749 | €56,544 | +€12,795 | +29.2% |
| Other amounts receivable | 41 | €48,148 | €43,539 | -€4,609 | -9.6% |
| Cash at bank and in hand | 54/58 | €54,346 | €108,260 | +€53,913 | +99.2% |
| Deferred charges and accrued income | 490/1 | €0 | €2 | +€2 | |
| Total equity and liabilities | 10/49 | €300,648 | €345,383 | +€44,734 | +14.9% |
| Equity | 10/15 | €144,914 | €161,003 | +€16,090 | +11.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €126,322 | €142,411 | +€16,090 | +12.7% |
| Distributable reserves | 133 | €126,322 | €142,411 | +€16,090 | +12.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €155,735 | €184,379 | +€28,644 | +18.4% |
| Amounts payable after more than one year | 17 | €72,872 | €64,157 | -€8,715 | -12.0% |
| Financial debts | 170/4 | €72,872 | €64,157 | -€8,715 | -12.0% |
| Amounts payable within one year | 42/48 | €81,958 | €120,222 | +€38,264 | +46.7% |
| Current portion of amounts payable after more than one year | 42 | €42,816 | €62,464 | +€19,647 | +45.9% |
| Trade debts | 44 | €28,428 | €32,662 | +€4,234 | +14.9% |
| Suppliers | 440/4 | €28,428 | €32,662 | +€4,234 | +14.9% |
| Taxes, remuneration and social security | 45 | €3,714 | €96 | -€3,617 | -97.4% |
| Taxes | 450/3 | €3,714 | €96 | -€3,617 | -97.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €7,000 | €25,000 | +€18,000 | +257% |
| Accrued charges and deferred income | 492/3 | €904 | €0 | -€904 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,502 | €59,110 | +€10,608 | +21.9% |
| Other operating charges | 640/8 | €2,276 | €4,778 | +€2,502 | +110% |
| Gross operating margin | 9900 | €102,465 | €122,753 | +€20,288 | +19.8% |
| Operating profit (loss) | 9901 | €51,687 | €58,865 | +€7,178 | +13.9% |
| Financial income | 75/76B | €2,514 | €1,946 | -€568 | -22.6% |
| Recurring financial income | 75 | €2,514 | €1,946 | -€568 | -22.6% |
| Financial charges | 65/66B | €3,931 | €3,868 | -€63 | -1.6% |
| Recurring financial charges | 65 | €3,931 | €3,868 | -€63 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €50,269 | €56,942 | +€6,673 | +13.3% |
| Income taxes | 67/77 | €13,714 | €15,852 | +€2,139 | +15.6% |
| Profit (loss) for the period | 9904 | €36,556 | €41,090 | +€4,534 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €36,556 | €41,090 | +€4,534 | +12.4% |
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 25 October 2026 via checked.be.