SMITH & NEPHEW: 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.
What changed
SMITH & NEPHEW
NACE 46.460, Wholesale of pharmaceutical and medical goods
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €1.7m-€260,312
Equity
€29.2m
2024 · €27.7m+€1.5m
Cash
-
not filed
Balance sheet total
€39.4m
2024 · €36.9m+€2.5m
Largest movements
Assets
- Receivables within one year +€2.9m
up €2.9m (+11.2%), from €25.8m to €28.7m
of which Other amounts receivable: +€3.1m
Equity and liabilities
- Profit (loss) carried forward +€1.4m
up €1.4m (+11.7%), from €11.9m to €13.3m
- Trade debts +€1.2m
up €1.2m (+30.6%), from €3.9m to €5.1m
- Tax, wage and social debts -€553,478
down €553,478 (-14.3%), from €3.9m to €3.3m
of which Remuneration and social security: -€579,451
- Accrued charges and deferred income +€398,372
up €398,372 (+28.9%), from €1.4m to €1.8m
Income statement
- Staff costs -€1.9m
down €1.9m (-15.0%), from €12.6m to €10.7m
- Goods and materials +€1.7m
up €1.7m (+7.7%), from €21.5m to €23.2m
of which Purchases: +€2.7m
- Write-downs +€1.1m
up €1.1m, from -€904,291 to €162,719
- Turnover +€1.0m
up €1.0m (+2.4%), from €42.1m to €43.2m
- Taxes -€500,986
down €500,986 (-59.8%), from €837,525 to €336,539
of which Taxes: -€302,037
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.
Result 2024
€1.7m
Turnover
+€1.0m
Other operating income
-€184,888
Goods and materials
-€1.7m
Services and other goods
-€417,556
Staff costs
+€1.9m
Depreciation
+€21,432
Write-downs
-€1.1m
Provisions
-€150,000
Other operating charges
-€47,064
Other operating items
-€13,934
Financial income
-€166,790
Financial charges
+€3,505
Taxes
+€500,986
Result 2025
€1.5m
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €36,889,472 | €39,405,520 | +€2.5m | +6.8% |
| Fixed assets | 21/28 | €3,915,669 | €3,694,605 | -€221,064 | -5.6% |
| Tangible fixed assets | 22/27 | €3,783,326 | €3,545,862 | -€237,464 | -6.3% |
| Plant, machinery and equipment | 23 | €2,486,375 | €2,501,701 | +€15,326 | +0.6% |
| Furniture and vehicles | 24 | €304,142 | €240,188 | -€63,954 | -21.0% |
| Other tangible fixed assets | 26 | €992,809 | €803,973 | -€188,836 | -19.0% |
| Financial fixed assets | 28 | €132,343 | €148,743 | +€16,400 | +12.4% |
| Other financial fixed assets | 284/8 | €132,343 | €148,743 | +€16,400 | +12.4% |
| Amounts receivable and cash guarantees | 285/8 | €132,343 | €148,743 | +€16,400 | +12.4% |
| Current assets | 29/58 | €32,973,803 | €35,710,914 | +€2.7m | +8.3% |
| Stocks and contracts in progress | 3 | €7,118,298 | €6,881,282 | -€237,016 | -3.3% |
| Stocks | 30/36 | €7,118,298 | €6,881,282 | -€237,016 | -3.3% |
| Goods purchased for resale | 34 | €7,118,298 | €6,881,282 | -€237,016 | -3.3% |
| Amounts receivable within one year | 40/41 | €25,837,333 | €28,737,870 | +€2.9m | +11.2% |
| Trade receivables | 40 | €9,737,158 | €9,492,931 | -€244,227 | -2.5% |
| Other amounts receivable | 41 | €16,100,174 | €19,244,939 | +€3.1m | +19.5% |
| Deferred charges and accrued income | 490/1 | €18,172 | €91,763 | +€73,590 | +405.0% |
| Total equity and liabilities | 10/49 | €36,889,472 | €39,405,520 | +€2.5m | +6.8% |
| Equity | 10/15 | €27,706,823 | €29,175,100 | +€1.5m | +5.3% |
| Contributions | 10/11 | €15,300,000 | €15,300,000 | = | 0.0% |
| Capital | 10 | €15,300,000 | €15,300,000 | = | 0.0% |
| Issued capital | 100 | €15,300,000 | €15,300,000 | = | 0.0% |
| Reserves | 13 | €529,972 | €603,386 | +€73,414 | +13.9% |
| Non-distributable reserves | 130/1 | €512,120 | €585,534 | +€73,414 | +14.3% |
| Legal reserve | 130 | €505,142 | €578,556 | +€73,414 | +14.5% |
| Other | 1319 | €6,977 | €6,977 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,852 | €17,852 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,876,851 | €13,271,715 | +€1.4m | +11.7% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €9,182,649 | €10,230,419 | +€1.0m | +11.4% |
| Amounts payable within one year | 42/48 | €7,804,489 | €8,453,887 | +€649,398 | +8.3% |
| Trade debts | 44 | €3,929,969 | €5,132,846 | +€1.2m | +30.6% |
| Suppliers | 440/4 | €3,929,969 | €5,132,846 | +€1.2m | +30.6% |
| Taxes, remuneration and social security | 45 | €3,874,520 | €3,321,042 | -€553,478 | -14.3% |
| Taxes | 450/3 | €633,960 | €659,932 | +€25,973 | +4.1% |
| Remuneration and social security | 454/9 | €3,240,560 | €2,661,109 | -€579,451 | -17.9% |
| Accrued charges and deferred income | 492/3 | €1,378,160 | €1,776,532 | +€398,372 | +28.9% |
| Operating income | 70/76A | €43,455,571 | €44,302,373 | +€846,802 | +1.9% |
| Turnover | 70 | €42,143,098 | €43,174,789 | +€1.0m | +2.4% |
| Other operating income | 74 | €1,312,473 | €1,127,584 | -€184,888 | -14.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €41,451,896 | €42,896,710 | +€1.4m | +3.5% |
| Goods for resale, raw materials and consumables | 60 | €21,520,786 | €23,187,163 | +€1.7m | +7.7% |
| Purchases | 600/8 | €20,400,450 | €23,108,870 | +€2.7m | +13.3% |
| Change in stocks: decrease (increase) | 609 | €1,120,336 | €78,293 | -€1.0m | -93.0% |
| Services and other goods | 61 | €6,976,739 | €7,394,295 | +€417,556 | +6.0% |
| Remuneration, social security and pensions | 62 | €12,608,914 | €10,713,221 | -€1.9m | -15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,225,932 | €1,204,500 | -€21,432 | -1.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€904,291 | €162,719 | +€1.1m | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€150,000 | €0 | +€150,000 | |
| Other operating charges | 640/8 | €80,974 | €128,038 | +€47,064 | +58.1% |
| Non-recurring operating charges | 66A | €92,841 | €106,775 | +€13,934 | +15.0% |
| Operating profit (loss) | 9901 | €2,003,675 | €1,405,663 | -€598,012 | -29.8% |
| Financial income | 75/76B | €570,363 | €403,573 | -€166,790 | -29.2% |
| Recurring financial income | 75 | €570,363 | €403,573 | -€166,790 | -29.2% |
| Income from current assets | 751 | €565,501 | €402,606 | -€162,894 | -28.8% |
| Other financial income | 752/9 | €4,863 | €967 | -€3,896 | -80.1% |
| Financial charges | 65/66B | €7,924 | €4,419 | -€3,505 | -44.2% |
| Recurring financial charges | 65 | €7,924 | €4,419 | -€3,505 | -44.2% |
| Debt charges | 650 | €3,571 | €0 | -€3,571 | -100.0% |
| Other financial charges | 652/9 | €4,353 | €4,419 | +€66 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €2,566,114 | €1,804,816 | -€761,298 | -29.7% |
| Income taxes | 67/77 | €837,525 | €336,539 | -€500,986 | -59.8% |
| Taxes | 670/3 | €837,525 | €535,488 | -€302,037 | -36.1% |
| Tax adjustments and reversals of tax provisions | 77 | - | €198,949 | +€198,949 | |
| Profit (loss) for the period | 9904 | €1,728,589 | €1,468,277 | -€260,312 | -15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,728,589 | €1,468,277 | -€260,312 | -15.1% |
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 10 October 2026 via checked.be.