SMF-BELGIQUE: what changed
What changed
SMF-BELGIQUE
NACE 46.851, Wholesale of industrial chemicals
filed annual accounts (NBB)
Net result for the year
€24,358
2024 · €22,209+€2,149
Equity
€366,971
2024 · €342,613+€24,358
Cash
€94,778
2024 · €83,608+€11,170
Balance sheet total
€448,384
2024 · €468,150-€19,766
Largest movements
Assets
- Tangible fixed assets -€28,275
down €28,275 (-7.4%), from €380,181 to €351,906
- Cash +€11,170
up €11,170 (+13.4%), from €83,608 to €94,778
mainly Depreciation (+€28,275) and Net result for the year (+€24,358)
Equity and liabilities
- Debts after one year -€47,938
down €47,938 (-71.7%), from €66,853 to €18,915
- Profit (loss) carried forward +€24,358
up €24,358 (+7.6%), from €322,043 to €346,401
- Current portion of long-term debt +€8,518
up €8,518 (+16.2%), from €52,547 to €61,065
- Trade debts -€4,726
down €4,726 (-84.8%), from €5,573 to €847
Income statement
- Financial charges -€1,620
down €1,620 (-28.4%), from €5,705 to €4,085
- Gross operating margin +€1,219
up €1,219 (+1.8%), from €68,514 to €69,733
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€22,209
Gross operating margin
+€1,219
Other operating charges
-€138
Financial income
+€135
Financial charges
+€1,620
Taxes
-€687
Result 2025
€24,358
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€50,267
Investment
+€323
Financing
-€39,420
Cash 2024
€83,608
From operations (derived)
+€50,267
Net result for the year
+€24,358
Depreciation
+€28,275
Receivables within one year
+€2,360
Smaller working-capital items
-€1
Trade debts
-€4,726
Investment (derived)
+€323
Current investments
+€323
Financing
-€39,420
Debts after one year
-€47,938
Current portion of long-term debt
+€8,518
Cash 2025
€94,778
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €468,150 | €448,384 | -€19,766 | -4.2% |
| Fixed assets | 21/28 | €380,181 | €351,906 | -€28,275 | -7.4% |
| Tangible fixed assets | 22/27 | €380,181 | €351,906 | -€28,275 | -7.4% |
| Land and buildings | 22 | €380,181 | €351,906 | -€28,275 | -7.4% |
| Current assets | 29/58 | €87,968 | €96,478 | +€8,509 | +9.7% |
| Amounts receivable within one year | 40/41 | €2,760 | €400 | -€2,360 | -85.5% |
| Other amounts receivable | 41 | €2,760 | €400 | -€2,360 | -85.5% |
| Current investments | 50/53 | €859 | €536 | -€323 | -37.6% |
| Cash at bank and in hand | 54/58 | €83,608 | €94,778 | +€11,170 | +13.4% |
| Deferred charges and accrued income | 490/1 | €741 | €764 | +€23 | +3.1% |
| Total equity and liabilities | 10/49 | €468,150 | €448,384 | -€19,766 | -4.2% |
| Equity | 10/15 | €342,613 | €366,971 | +€24,358 | +7.1% |
| Contributions | 10/11 | €18,700 | €18,700 | = | 0.0% |
| Reserves | 13 | €1,870 | €1,870 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,870 | €1,870 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,870 | €1,870 | = | 0.0% |
| Profit (loss) carried forward | 14 | €322,043 | €346,401 | +€24,358 | +7.6% |
| Amounts payable | 17/49 | €125,536 | €81,413 | -€44,124 | -35.1% |
| Amounts payable after more than one year | 17 | €66,853 | €18,915 | -€47,938 | -71.7% |
| Financial debts | 170/4 | €66,853 | €18,915 | -€47,938 | -71.7% |
| Amounts payable within one year | 42/48 | €58,683 | €62,497 | +€3,814 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €52,547 | €61,065 | +€8,518 | +16.2% |
| Trade debts | 44 | €5,573 | €847 | -€4,726 | -84.8% |
| Suppliers | 440/4 | €5,573 | €847 | -€4,726 | -84.8% |
| Taxes, remuneration and social security | 45 | €563 | €584 | +€22 | +3.9% |
| Taxes | 450/3 | €563 | €584 | +€22 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,275 | €28,275 | = | 0.0% |
| Other operating charges | 640/8 | €4,980 | €5,118 | +€138 | +2.8% |
| Gross operating margin | 9900 | €68,514 | €69,733 | +€1,219 | +1.8% |
| Operating profit (loss) | 9901 | €35,258 | €36,339 | +€1,081 | +3.1% |
| Financial income | 75/76B | €73 | €209 | +€135 | +185% |
| Recurring financial income | 75 | €73 | €209 | +€135 | +185% |
| Financial charges | 65/66B | €5,705 | €4,085 | -€1,620 | -28.4% |
| Recurring financial charges | 65 | €5,705 | €4,085 | -€1,620 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | €29,627 | €32,463 | +€2,836 | +9.6% |
| Income taxes | 67/77 | €7,418 | €8,105 | +€687 | +9.3% |
| Profit (loss) for the period | 9904 | €22,209 | €24,358 | +€2,149 | +9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,209 | €24,358 | +€2,149 | +9.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.