SMETS-VERVAECKE: 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-VERVAECKE
Largest movements
- Receivables within one year -€13,456
down €13,456 (-35.2%), from €38,270 to €24,814
of which Trade receivables: -€8,082
- Tangible fixed assets +€9,467
up €9,467 (+75.7%), from €12,511 to €21,978
of which Furniture and vehicles: +€6,240
- Cash +€1,781
up €1,781 (+10.8%), from €16,563 to €18,344
mainly Other debts (+€23,602) and Net result for the year (+€17,170)
- Deferred charges and accrued income -€756
no longer reported in 2025 (was €756)
- Other debts +€23,602
new in 2025: €23,602
- Reserves -€18,435
down €18,435 (-51.8%), from €35,604 to €17,170
- Tax, wage and social debts -€5,381
down €5,381 (-47.6%), from €11,293 to €5,912
- Trade debts -€2,742
down €2,742 (-65.0%), from €4,220 to €1,478
- Gross operating margin -€10,607
down €10,607 (-23.1%), from €45,865 to €35,257
- Depreciation -€9,521
down €9,521 (-43.1%), from €22,105 to €12,584
- Financial charges -€1,662
down €1,662 (-87.7%), from €1,895 to €233
of which Financial charges: -€1,792
- Taxes -€665
down €665 (-11.5%), from €5,770 to €5,105
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 | €70,101 | €67,136 | -€2,964 | -4.2% |
| Fixed assets | 21/28 | €14,511 | €23,978 | +€9,467 | +65.2% |
| Tangible fixed assets | 22/27 | €12,511 | €21,978 | +€9,467 | +75.7% |
| Plant, machinery and equipment | 23 | €1,962 | €5,509 | +€3,547 | +181% |
| Furniture and vehicles | 24 | €8,950 | €15,190 | +€6,240 | +69.7% |
| Other tangible fixed assets | 26 | €1,599 | €1,279 | -€320 | -20.0% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €55,590 | €43,158 | -€12,432 | -22.4% |
| Amounts receivable within one year | 40/41 | €38,270 | €24,814 | -€13,456 | -35.2% |
| Trade receivables | 40 | €31,771 | €23,689 | -€8,082 | -25.4% |
| Other amounts receivable | 41 | €6,499 | €1,124 | -€5,374 | -82.7% |
| Cash at bank and in hand | 54/58 | €16,563 | €18,344 | +€1,781 | +10.8% |
| Deferred charges and accrued income | 490/1 | €756 | - | -€756 | |
| Total equity and liabilities | 10/49 | €70,101 | €67,136 | -€2,964 | -4.2% |
| Equity | 10/15 | €54,204 | €35,770 | -€18,435 | -34.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €35,604 | €17,170 | -€18,435 | -51.8% |
| Distributable reserves | 133 | €35,604 | €17,170 | -€18,435 | -51.8% |
| Amounts payable | 17/49 | €15,896 | €31,366 | +€15,470 | +97.3% |
| Amounts payable within one year | 42/48 | €15,896 | €30,991 | +€15,095 | +95.0% |
| Current portion of amounts payable after more than one year | 42 | €384 | - | -€384 | |
| Trade debts | 44 | €4,220 | €1,478 | -€2,742 | -65.0% |
| Suppliers | 440/4 | €4,220 | €1,478 | -€2,742 | -65.0% |
| Taxes, remuneration and social security | 45 | €11,293 | €5,912 | -€5,381 | -47.6% |
| Taxes | 450/3 | €11,293 | €5,912 | -€5,381 | -47.6% |
| Other amounts payable | 47/48 | - | €23,602 | +€23,602 | |
| Accrued charges and deferred income | 492/3 | - | €375 | +€375 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,105 | €12,584 | -€9,521 | -43.1% |
| Other operating charges | 640/8 | €638 | €464 | -€174 | -27.2% |
| Gross operating margin | 9900 | €45,865 | €35,257 | -€10,607 | -23.1% |
| Operating profit (loss) | 9901 | €23,122 | €22,209 | -€912 | -3.9% |
| Financial income | 75/76B | €13 | €298 | +€285 | +2,193% |
| Recurring financial income | 75 | €13 | €298 | +€285 | +2,193% |
| Financial charges | 65/66B | €1,895 | €233 | -€1,662 | -87.7% |
| Recurring financial charges | 65 | €1,895 | €103 | -€1,792 | -94.6% |
| Non-recurring financial charges | 66B | - | €130 | +€130 | |
| Profit (loss) for the period before taxes | 9903 | €21,240 | €22,275 | +€1,035 | +4.9% |
| Income taxes | 67/77 | €5,770 | €5,105 | -€665 | -11.5% |
| Profit (loss) for the period | 9904 | €15,469 | €17,170 | +€1,701 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,469 | €17,170 | +€1,701 | +11.0% |
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 23 October 2026 via checked.be.