SMITH-BELGIUM: what changed
SMITH-BELGIUM
Largest movements
- Cash +€363,109
up €363,109 (+146%), from €248,955 to €612,064
mainly Receivables within one year (+€269,172) and Accrued charges and deferred income (+€101,006)
- Receivables within one year -€269,172
down €269,172 (-18.5%), from €1.5m to €1.2m
of which Trade receivables: -€489,828
- Reserves +€422,499
up €422,499 (+87.9%), from €480,529 to €903,028
of which Distributable reserves: +€422,499
- Profit (loss) carried forward -€351,456
down €351,456 (-83.2%), from €422,499 to €71,043
- Trade debts -€142,354
down €142,354 (-40.0%), from €355,925 to €213,570
- Accrued charges and deferred income +€101,006
up €101,006 (+80.4%), from €125,654 to €226,660
- Tax, wage and social debts +€47,131
up €47,131 (+19.1%), from €247,293 to €294,424
of which Remuneration and social security: +€45,605
- Turnover -€696,730
down €696,730 (-13.5%), from €5.2m to €4.5m
- Gross operating margin -€360,140
down €360,140 (-16.9%), from €2.1m to €1.8m
- Purchases and services -€332,061
down €332,061 (-11.0%), from €3.0m to €2.7m
- Taxes -€149,036
down €149,036 (-83.5%), from €178,385 to €29,349
- Staff costs +€144,474
up €144,474 (+9.8%), from €1.5m to €1.6m
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,841,001 | €1,917,826 | +€76,825 | +4.2% |
| Fixed assets | 21/28 | €136,045 | €120,320 | -€15,726 | -11.6% |
| Tangible fixed assets | 22/27 | €127,799 | €114,576 | -€13,223 | -10.3% |
| Plant, machinery and equipment | 23 | €72,284 | €69,717 | -€2,567 | -3.6% |
| Furniture and vehicles | 24 | €55,515 | €44,859 | -€10,656 | -19.2% |
| Financial fixed assets | 28 | €8,246 | €5,744 | -€2,502 | -30.3% |
| Current assets | 29/58 | €1,704,956 | €1,797,506 | +€92,550 | +5.4% |
| Amounts receivable within one year | 40/41 | €1,454,613 | €1,185,442 | -€269,172 | -18.5% |
| Trade receivables | 40 | €1,381,898 | €892,070 | -€489,828 | -35.4% |
| Other amounts receivable | 41 | €72,716 | €293,372 | +€220,656 | +303% |
| Cash at bank and in hand | 54/58 | €248,955 | €612,064 | +€363,109 | +146% |
| Deferred charges and accrued income | 490/1 | €1,387 | €0 | -€1,387 | -100% |
| Total equity and liabilities | 10/49 | €1,841,001 | €1,917,826 | +€76,825 | +4.2% |
| Equity | 10/15 | €1,112,128 | €1,183,171 | +€71,043 | +6.4% |
| Contributions | 10/11 | €209,100 | €209,100 | = | 0.0% |
| Capital | 10 | €209,100 | €209,100 | = | 0.0% |
| Issued capital | 100 | €209,100 | €209,100 | = | 0.0% |
| Reserves | 13 | €480,529 | €903,028 | +€422,499 | +87.9% |
| Non-distributable reserves | 130/1 | €22,600 | €22,600 | = | 0.0% |
| Legal reserve | 130 | €22,600 | €22,600 | = | 0.0% |
| Distributable reserves | 133 | €457,930 | €880,429 | +€422,499 | +92.3% |
| Profit (loss) carried forward | 14 | €422,499 | €71,043 | -€351,456 | -83.2% |
| Amounts payable | 17/49 | €728,873 | €734,655 | +€5,782 | +0.8% |
| Amounts payable within one year | 42/48 | €603,218 | €507,995 | -€95,224 | -15.8% |
| Trade debts | 44 | €355,925 | €213,570 | -€142,354 | -40.0% |
| Suppliers | 440/4 | €355,925 | €213,570 | -€142,354 | -40.0% |
| Taxes, remuneration and social security | 45 | €247,293 | €294,424 | +€47,131 | +19.1% |
| Taxes | 450/3 | - | €1,526 | +€1,526 | |
| Remuneration and social security | 454/9 | €247,293 | €292,898 | +€45,605 | +18.4% |
| Accrued charges and deferred income | 492/3 | €125,654 | €226,660 | +€101,006 | +80.4% |
| Turnover | 70 | €5,177,102 | €4,480,371 | -€696,730 | -13.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €3,019,808 | €2,687,747 | -€332,061 | -11.0% |
| Remuneration, social security and pensions | 62 | €1,479,004 | €1,623,479 | +€144,474 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,048 | €33,166 | +€6,118 | +22.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,011 | €2,793 | +€782 | +38.9% |
| Gross operating margin | 9900 | €2,131,118 | €1,770,979 | -€360,140 | -16.9% |
| Operating profit (loss) | 9901 | €623,055 | €111,541 | -€511,514 | -82.1% |
| Financial income | 75/76B | €7,950 | €5,828 | -€2,122 | -26.7% |
| Recurring financial income | 75 | €7,950 | €5,828 | -€2,122 | -26.7% |
| Financial charges | 65/66B | €10,941 | €16,978 | +€6,037 | +55.2% |
| Recurring financial charges | 65 | €10,941 | €16,978 | +€6,037 | +55.2% |
| Profit (loss) for the period before taxes | 9903 | €620,065 | €100,392 | -€519,673 | -83.8% |
| Income taxes | 67/77 | €178,385 | €29,349 | -€149,036 | -83.5% |
| Profit (loss) for the period | 9904 | €441,680 | €71,043 | -€370,637 | -83.9% |
| Profit (loss) for the period to be appropriated | 9905 | €441,680 | €71,043 | -€370,637 | -83.9% |
Next steps
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 8 November 2026 via checked.be.