SMEVAN: 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.
SMEVAN
Largest movements
- Tangible fixed assets -€26,021
down €26,021 (-7.5%), from €348,813 to €322,793
of which Leasing and similar rights: -€13,521
- Receivables after one year -€5,040
down €5,040 (-9.3%), from €54,170 to €49,130
- Cash +€4,271
up €4,271 (+40.9%), from €10,451 to €14,722
mainly Depreciation (+€26,021) and Net result for the year (+€12,903)
- Debts after one year -€44,490
down €44,490 (-24.8%), from €179,070 to €134,580
of which Financial debts: -€42,027
- Profit (loss) carried forward +€12,903
up €12,903 (+34.7%), from -€37,146 to -€24,243
- Financial charges -€52,928
down €52,928 (-87.8%), from €60,292 to €7,365
of which Non-recurring financial charges: -€47,600
- Gross operating margin -€1,879
down €1,879 (-3.0%), from €62,733 to €60,854
- Taxes +€1,536
up €1,536 (+39.7%), from €3,870 to €5,406
- Financial income +€847
up €847 (+468%), from €181 to €1,028
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 | €417,251 | €389,542 | -€27,709 | -6.6% |
| Fixed assets | 21/28 | €348,813 | €322,793 | -€26,021 | -7.5% |
| Tangible fixed assets | 22/27 | €348,813 | €322,793 | -€26,021 | -7.5% |
| Land and buildings | 22 | €297,324 | €284,824 | -€12,500 | -4.2% |
| Leasing and similar rights | 25 | €51,490 | €37,969 | -€13,521 | -26.3% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €68,438 | €66,749 | -€1,689 | -2.5% |
| Amounts receivable after more than one year | 29 | €54,170 | €49,130 | -€5,040 | -9.3% |
| Other amounts receivable | 291 | €54,170 | €49,130 | -€5,040 | -9.3% |
| Amounts receivable within one year | 40/41 | €3,630 | €2,698 | -€932 | -25.7% |
| Trade receivables | 40 | €0 | €604 | +€604 | |
| Other amounts receivable | 41 | €3,630 | €2,094 | -€1,536 | -42.3% |
| Cash at bank and in hand | 54/58 | €10,451 | €14,722 | +€4,271 | +40.9% |
| Deferred charges and accrued income | 490/1 | €187 | €199 | +€12 | +6.6% |
| Total equity and liabilities | 10/49 | €417,251 | €389,542 | -€27,709 | -6.6% |
| Equity | 10/15 | €191,660 | €204,563 | +€12,903 | +6.7% |
| Contributions | 10/11 | €108,100 | €108,100 | = | 0.0% |
| Reserves | 13 | €120,706 | €120,706 | = | 0.0% |
| Distributable reserves | 133 | €120,706 | €120,706 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,146 | -€24,243 | +€12,903 | +34.7% |
| Amounts payable | 17/49 | €225,591 | €184,979 | -€40,612 | -18.0% |
| Amounts payable after more than one year | 17 | €179,070 | €134,580 | -€44,490 | -24.8% |
| Financial debts | 170/4 | €79,632 | €37,605 | -€42,027 | -52.8% |
| Other amounts payable | 178/9 | €99,439 | €96,975 | -€2,464 | -2.5% |
| Amounts payable within one year | 42/48 | €46,521 | €47,811 | +€1,290 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €40,373 | €41,831 | +€1,458 | +3.6% |
| Financial debts | 43 | €2,536 | €2,524 | -€12 | -0.5% |
| Credit institutions | 430/8 | €2,536 | €2,524 | -€12 | -0.5% |
| Trade debts | 44 | €52 | €338 | +€286 | +555% |
| Suppliers | 440/4 | €52 | €338 | +€286 | +555% |
| Taxes, remuneration and social security | 45 | €3,560 | €3,118 | -€442 | -12.4% |
| Taxes | 450/3 | €3,560 | €3,118 | -€442 | -12.4% |
| Accrued charges and deferred income | 492/3 | - | €2,588 | +€2,588 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,021 | €26,021 | = | 0.0% |
| Other operating charges | 640/8 | €9,877 | €10,187 | +€310 | +3.1% |
| Gross operating margin | 9900 | €62,733 | €60,854 | -€1,879 | -3.0% |
| Operating profit (loss) | 9901 | €26,836 | €24,646 | -€2,190 | -8.2% |
| Financial income | 75/76B | €181 | €1,028 | +€847 | +468% |
| Recurring financial income | 75 | €181 | €1,028 | +€847 | +468% |
| Financial charges | 65/66B | €60,292 | €7,365 | -€52,928 | -87.8% |
| Recurring financial charges | 65 | €12,692 | €7,365 | -€5,328 | -42.0% |
| Non-recurring financial charges | 66B | €47,600 | €0 | -€47,600 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€33,276 | €18,309 | +€51,585 | |
| Income taxes | 67/77 | €3,870 | €5,406 | +€1,536 | +39.7% |
| Profit (loss) for the period | 9904 | -€37,146 | €12,903 | +€50,049 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,146 | €12,903 | +€50,049 |
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 17 October 2026 via checked.be.