SMETS PHARMA: 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 PHARMA
Largest movements
- Stocks and contracts +€25,497
up €25,497 (+15.5%), from €164,984 to €190,481
- Tangible fixed assets +€23,882
up €23,882 (+92.8%), from €25,743 to €49,624
of which Land and buildings: +€30,708
- Cash -€20,656
down €20,656 (-27.7%), from €74,590 to €53,935
mainly Investment in fixed assets (net) (-€32,553) and Stocks and contracts (-€25,497)
- Receivables within one year +€4,911
up €4,911 (+6.7%), from €72,784 to €77,695
of which Trade receivables: +€6,118
- Reserves +€39,881
up €39,881 (+41.0%), from €97,271 to €137,152
of which Distributable reserves: +€39,881
- Other debts -€11,482
down €11,482 (-8.7%), from €132,583 to €121,101
- Financial charges -€4,254
down €4,254 (-11.5%), from €36,980 to €32,726
- Gross operating margin -€3,881
down €3,881 (-1.4%), from €277,771 to €273,890
- Taxes +€3,594
up €3,594 (+28.0%), from €12,834 to €16,429
- Financial income +€3,586
up €3,586 (+141%), from €2,539 to €6,126
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 | €424,162 | €452,862 | +€28,700 | +6.8% |
| Fixed assets | 21/28 | €30,743 | €54,624 | +€23,882 | +77.7% |
| Tangible fixed assets | 22/27 | €25,743 | €49,624 | +€23,882 | +92.8% |
| Land and buildings | 22 | €10,367 | €41,075 | +€30,708 | +296% |
| Plant, machinery and equipment | 23 | €10,893 | €5,934 | -€4,959 | -45.5% |
| Furniture and vehicles | 24 | €4,482 | €2,615 | -€1,867 | -41.7% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €393,419 | €398,238 | +€4,819 | +1.2% |
| Stocks and contracts in progress | 3 | €164,984 | €190,481 | +€25,497 | +15.5% |
| Stocks | 30/36 | €164,984 | €190,481 | +€25,497 | +15.5% |
| Amounts receivable within one year | 40/41 | €72,784 | €77,695 | +€4,911 | +6.7% |
| Trade receivables | 40 | €71,160 | €77,278 | +€6,118 | +8.6% |
| Other amounts receivable | 41 | €1,624 | €418 | -€1,207 | -74.3% |
| Current investments | 50/53 | €64,432 | €61,059 | -€3,374 | -5.2% |
| Cash at bank and in hand | 54/58 | €74,590 | €53,935 | -€20,656 | -27.7% |
| Deferred charges and accrued income | 490/1 | €16,628 | €15,068 | -€1,560 | -9.4% |
| Total equity and liabilities | 10/49 | €424,162 | €452,862 | +€28,700 | +6.8% |
| Equity | 10/15 | €201,739 | €241,620 | +€39,881 | +19.8% |
| Contributions | 10/11 | €104,468 | €104,468 | = | 0.0% |
| Reserves | 13 | €97,271 | €137,152 | +€39,881 | +41.0% |
| Tax-exempt reserves | 132 | €89 | €89 | = | 0.0% |
| Distributable reserves | 133 | €97,183 | €137,064 | +€39,881 | +41.0% |
| Amounts payable | 17/49 | €222,423 | €211,242 | -€11,181 | -5.0% |
| Amounts payable within one year | 42/48 | €214,965 | €205,080 | -€9,885 | -4.6% |
| Trade debts | 44 | €53,787 | €57,225 | +€3,437 | +6.4% |
| Suppliers | 440/4 | €53,787 | €57,225 | +€3,437 | +6.4% |
| Taxes, remuneration and social security | 45 | €28,594 | €26,754 | -€1,841 | -6.4% |
| Taxes | 450/3 | €6,285 | €4,717 | -€1,568 | -24.9% |
| Remuneration and social security | 454/9 | €22,309 | €22,037 | -€273 | -1.2% |
| Other amounts payable | 47/48 | €132,583 | €121,101 | -€11,482 | -8.7% |
| Accrued charges and deferred income | 492/3 | €7,458 | €6,162 | -€1,296 | -17.4% |
| Remuneration, social security and pensions | 62 | €181,544 | €179,052 | -€2,492 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,118 | €8,672 | -€447 | -4.9% |
| Other operating charges | 640/8 | €2,404 | €2,397 | -€7 | -0.3% |
| Gross operating margin | 9900 | €277,771 | €273,890 | -€3,881 | -1.4% |
| Operating profit (loss) | 9901 | €84,705 | €83,769 | -€935 | -1.1% |
| Financial income | 75/76B | €2,539 | €6,126 | +€3,586 | +141% |
| Recurring financial income | 75 | €2,539 | €6,126 | +€3,586 | +141% |
| Financial charges | 65/66B | €36,980 | €32,726 | -€4,254 | -11.5% |
| Recurring financial charges | 65 | €36,980 | €32,726 | -€4,254 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €50,264 | €57,169 | +€6,905 | +13.7% |
| Income taxes | 67/77 | €12,834 | €16,429 | +€3,594 | +28.0% |
| Profit (loss) for the period | 9904 | €37,430 | €40,740 | +€3,311 | +8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €37,430 | €40,740 | +€3,311 | +8.8% |
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 14 October 2026 via checked.be.