SMETS VLOEREN: 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 VLOEREN
Largest movements
- Tangible fixed assets -€9,098
down €9,098 (-51.3%), from €17,750 to €8,652
of which Furniture and vehicles: -€9,021
- Cash -€1,591
down €1,591 (-1.8%), from €87,976 to €86,385
mainly Current portion of long-term debt (-€6,252) and Trade debts (-€4,014)
- Stocks and contracts +€1,356
up €1,356 (+12.5%), from €10,858 to €12,214
- Deferred charges and accrued income +€1,292
up €1,292 (+20.7%), from €6,250 to €7,541
- Current portion of long-term debt -€6,252
down €6,252 (-70.2%), from €8,909 to €2,657
- Other debts +€4,336
up €4,336 (+18.8%), from €23,092 to €27,428
- Trade debts -€4,014
down €4,014 (-43.2%), from €9,284 to €5,269
- Debts after one year -€2,657
down €2,657 (-32.1%), from €8,284 to €5,627
- Reserves +€1,346
up €1,346 (+2.8%), from €48,427 to €49,772
- Gross operating margin +€12,429
up €12,429 (+18.6%), from €66,763 to €79,191
- Depreciation -€839
down €839 (-8.4%), from €9,937 to €9,098
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 | €125,870 | €118,763 | -€7,107 | -5.6% |
| Fixed assets | 21/28 | €17,885 | €8,787 | -€9,098 | -50.9% |
| Tangible fixed assets | 22/27 | €17,750 | €8,652 | -€9,098 | -51.3% |
| Plant, machinery and equipment | 23 | €77 | €0 | -€77 | -100% |
| Furniture and vehicles | 24 | €17,673 | €8,652 | -€9,021 | -51.0% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €107,986 | €109,977 | +€1,991 | +1.8% |
| Stocks and contracts in progress | 3 | €10,858 | €12,214 | +€1,356 | +12.5% |
| Stocks | 30/36 | €10,858 | €12,214 | +€1,356 | +12.5% |
| Amounts receivable within one year | 40/41 | €2,902 | €3,836 | +€934 | +32.2% |
| Trade receivables | 40 | €0 | €1,995 | +€1,995 | |
| Other amounts receivable | 41 | €2,902 | €1,841 | -€1,061 | -36.6% |
| Cash at bank and in hand | 54/58 | €87,976 | €86,385 | -€1,591 | -1.8% |
| Deferred charges and accrued income | 490/1 | €6,250 | €7,541 | +€1,292 | +20.7% |
| Total equity and liabilities | 10/49 | €125,870 | €118,763 | -€7,107 | -5.6% |
| Equity | 10/15 | €76,302 | €77,648 | +€1,346 | +1.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €48,427 | €49,772 | +€1,346 | +2.8% |
| Distributable reserves | 133 | €48,427 | €49,772 | +€1,346 | +2.8% |
| Profit (loss) carried forward | 14 | €9,284 | €9,284 | = | 0.0% |
| Amounts payable | 17/49 | €49,568 | €41,115 | -€8,453 | -17.1% |
| Amounts payable after more than one year | 17 | €8,284 | €5,627 | -€2,657 | -32.1% |
| Financial debts | 170/4 | €8,284 | €5,627 | -€2,657 | -32.1% |
| Amounts payable within one year | 42/48 | €41,284 | €35,489 | -€5,796 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €8,909 | €2,657 | -€6,252 | -70.2% |
| Trade debts | 44 | €9,284 | €5,269 | -€4,014 | -43.2% |
| Suppliers | 440/4 | €9,284 | €5,269 | -€4,014 | -43.2% |
| Taxes, remuneration and social security | 45 | - | €135 | +€135 | |
| Taxes | 450/3 | - | €135 | +€135 | |
| Other amounts payable | 47/48 | €23,092 | €27,428 | +€4,336 | +18.8% |
| Remuneration, social security and pensions | 62 | €64,606 | €65,130 | +€524 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,937 | €9,098 | -€839 | -8.4% |
| Other operating charges | 640/8 | €2,590 | €2,071 | -€519 | -20.0% |
| Non-recurring operating charges | 66A | - | €245 | +€245 | |
| Gross operating margin | 9900 | €66,763 | €79,191 | +€12,429 | +18.6% |
| Operating profit (loss) | 9901 | -€10,370 | €2,648 | +€13,018 | |
| Financial income | 75/76B | €425 | €384 | -€41 | -9.7% |
| Recurring financial income | 75 | €425 | €384 | -€41 | -9.7% |
| Financial charges | 65/66B | €1,501 | €1,551 | +€50 | +3.3% |
| Recurring financial charges | 65 | €1,501 | €1,551 | +€50 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | -€11,447 | €1,480 | +€12,927 | |
| Income taxes | 67/77 | - | €135 | +€135 | |
| Profit (loss) for the period | 9904 | -€11,447 | €1,346 | +€12,792 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,447 | €1,346 | +€12,792 |
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 26 October 2026 via checked.be.