SMGC: what changed
Two fiscal 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.
SMGC
Largest movements
- Receivables within one year +€112,375
up €112,375 (+31.1%), from €361,187 to €473,561
of which Other amounts receivable: +€114,158
- Cash -€108,326
down €108,326 (-98.2%), from €110,262 to €1,936
mainly Receivables within one year (-€112,375) and Debts after one year (-€44,747)
- Receivables after one year -€27,543
down €27,543 (-19.4%), from €141,831 to €114,288
- Deferred charges and accrued income +€26,174
up €26,174 (+328.0%), from €7,980 to €34,154
- Debts after one year -€44,747
down €44,747 (-8.7%), from €513,082 to €468,335
- Reserves +€30,389
up €30,389 (+6.5%), from €465,334 to €495,723
of which Distributable reserves: +€30,389
- Other operating charges +€66,404
up €66,404 (+125.7%), from €52,848 to €119,251
- Gross operating margin -€49,560
down €49,560 (-20.8%), from €238,292 to €188,732
- Taxes -€37,826
down €37,826 (-72.3%), from €52,289 to €14,463
- Financial charges +€7,332
up €7,332 (+60.0%), from €12,213 to €19,545
- Financial income +€5,983
up €5,983 (+27.0%), from €22,123 to €28,106
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,384,369 | €1,379,925 | -€4,443 | -0.3% |
| Fixed assets | 21/28 | €686,652 | €679,530 | -€7,123 | -1.0% |
| Tangible fixed assets | 22/27 | €686,652 | €679,530 | -€7,123 | -1.0% |
| Land and buildings | 22 | €633,784 | €611,271 | -€22,513 | -3.6% |
| Plant, machinery and equipment | 23 | €28,163 | €50,965 | +€22,802 | +81.0% |
| Furniture and vehicles | 24 | €15,334 | €11,170 | -€4,165 | -27.2% |
| Other tangible fixed assets | 26 | €9,371 | €6,124 | -€3,248 | -34.7% |
| Current assets | 29/58 | €697,716 | €700,396 | +€2,679 | +0.4% |
| Amounts receivable after more than one year | 29 | €141,831 | €114,288 | -€27,543 | -19.4% |
| Other amounts receivable | 291 | €141,831 | €114,288 | -€27,543 | -19.4% |
| Amounts receivable within one year | 40/41 | €361,187 | €473,561 | +€112,375 | +31.1% |
| Trade receivables | 40 | €1,784 | - | -€1,784 | |
| Other amounts receivable | 41 | €359,403 | €473,561 | +€114,158 | +31.8% |
| Current investments | 50/53 | €76,456 | €76,456 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €110,262 | €1,936 | -€108,326 | -98.2% |
| Deferred charges and accrued income | 490/1 | €7,980 | €34,154 | +€26,174 | +328.0% |
| Total equity and liabilities | 10/49 | €1,384,369 | €1,379,925 | -€4,443 | -0.3% |
| Equity | 10/15 | €658,355 | €688,745 | +€30,389 | +4.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €465,334 | €495,723 | +€30,389 | +6.5% |
| Non-distributable reserves | 130/1 | €76,456 | €76,456 | = | 0.0% |
| Own shares acquired | 1312 | €76,456 | €76,456 | = | 0.0% |
| Tax-exempt reserves | 132 | €90 | €90 | = | 0.0% |
| Distributable reserves | 133 | €388,787 | €419,176 | +€30,389 | +7.8% |
| Profit (loss) carried forward | 14 | €174,422 | €174,422 | = | 0.0% |
| Provisions and deferred taxes | 16 | €115,191 | €115,191 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €115,191 | €115,191 | = | 0.0% |
| Pensions and similar obligations | 160 | €115,191 | €115,191 | = | 0.0% |
| Amounts payable | 17/49 | €610,822 | €575,990 | -€34,833 | -5.7% |
| Amounts payable after more than one year | 17 | €513,082 | €468,335 | -€44,747 | -8.7% |
| Financial debts | 170/4 | €513,082 | €468,335 | -€44,747 | -8.7% |
| Amounts payable within one year | 42/48 | €95,651 | €107,655 | +€12,004 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €44,621 | €46,558 | +€1,937 | +4.3% |
| Trade debts | 44 | €11,794 | €8,296 | -€3,497 | -29.7% |
| Suppliers | 440/4 | €11,794 | €8,296 | -€3,497 | -29.7% |
| Taxes, remuneration and social security | 45 | €39,236 | €52,275 | +€13,039 | +33.2% |
| Taxes | 450/3 | €39,236 | €52,275 | +€13,039 | +33.2% |
| Other amounts payable | 47/48 | - | €526 | +€526 | |
| Accrued charges and deferred income | 492/3 | €2,090 | - | -€2,090 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,976 | €33,189 | +€2,214 | +7.1% |
| Other operating charges | 640/8 | €52,848 | €119,251 | +€66,404 | +125.7% |
| Gross operating margin | 9900 | €238,292 | €188,732 | -€49,560 | -20.8% |
| Operating profit (loss) | 9901 | €154,469 | €36,291 | -€118,177 | -76.5% |
| Financial income | 75/76B | €22,123 | €28,106 | +€5,983 | +27.0% |
| Recurring financial income | 75 | €22,123 | €28,106 | +€5,983 | +27.0% |
| Financial charges | 65/66B | €12,213 | €19,545 | +€7,332 | +60.0% |
| Recurring financial charges | 65 | €12,213 | €19,545 | +€7,332 | +60.0% |
| Profit (loss) for the period before taxes | 9903 | €164,379 | €44,853 | -€119,526 | -72.7% |
| Income taxes | 67/77 | €52,289 | €14,463 | -€37,826 | -72.3% |
| Profit (loss) for the period | 9904 | €112,089 | €30,389 | -€81,700 | -72.9% |
| Profit (loss) for the period to be appropriated | 9905 | €112,089 | €30,389 | -€81,700 | -72.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.