Smith Pharma: 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.
Smith Pharma
Largest movements
- Tangible fixed assets -€39,275
down €39,275 (-11.6%), from €337,747 to €298,472
of which Land and buildings: -€26,497
- Receivables within one year +€28,040
up €28,040 (+45.8%), from €61,281 to €89,321
of which Other amounts receivable: +€26,503
- Other debts +€56,410
up €56,410 (+79.6%), from €70,897 to €127,307
- Trade debts -€39,958
down €39,958 (-60.4%), from €66,166 to €26,208
- Debts after one year -€22,609
down €22,609 (-7.6%), from €295,554 to €272,945
- Current portion of long-term debt -€11,125
down €11,125 (-33.0%), from €33,734 to €22,609
- Gross operating margin +€31,441
up €31,441 (+20.5%), from €153,158 to €184,600
- Staff costs +€24,304
up €24,304 (+175.2%), from €13,869 to €38,173
- Depreciation -€15,145
down €15,145 (-27.5%), from €55,069 to €39,924
- Taxes +€11,584
up €11,584 (+147.5%), from €7,852 to €19,436
- Write-downs +€3,346
up €3,346 (+67.8%), from €4,932 to €8,278
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.
Cash bridge derived
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 | €624,132 | €610,521 | -€13,611 | -2.2% |
| Fixed assets | 21/28 | €339,162 | €299,238 | -€39,924 | -11.8% |
| Intangible fixed assets | 21 | €1,415 | €766 | -€649 | -45.9% |
| Tangible fixed assets | 22/27 | €337,747 | €298,472 | -€39,275 | -11.6% |
| Land and buildings | 22 | €291,891 | €265,395 | -€26,497 | -9.1% |
| Plant, machinery and equipment | 23 | €39,401 | €29,841 | -€9,560 | -24.3% |
| Furniture and vehicles | 24 | €2,901 | €1,092 | -€1,809 | -62.4% |
| Other tangible fixed assets | 26 | €3,554 | €2,145 | -€1,409 | -39.7% |
| Current assets | 29/58 | €284,970 | €311,283 | +€26,313 | +9.2% |
| Stocks and contracts in progress | 3 | €152,561 | €156,018 | +€3,457 | +2.3% |
| Stocks | 30/36 | €152,561 | €156,018 | +€3,457 | +2.3% |
| Amounts receivable within one year | 40/41 | €61,281 | €89,321 | +€28,040 | +45.8% |
| Trade receivables | 40 | €57,981 | €59,519 | +€1,538 | +2.7% |
| Other amounts receivable | 41 | €3,300 | €29,803 | +€26,503 | +803.1% |
| Cash at bank and in hand | 54/58 | €55,966 | €51,571 | -€4,395 | -7.9% |
| Deferred charges and accrued income | 490/1 | €15,162 | €14,372 | -€789 | -5.2% |
| Total equity and liabilities | 10/49 | €624,132 | €610,521 | -€13,611 | -2.2% |
| Equity | 10/15 | €146,292 | €146,292 | = | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €127,742 | €127,742 | = | 0.0% |
| Distributable reserves | 133 | €127,742 | €127,742 | = | 0.0% |
| Amounts payable | 17/49 | €477,840 | €464,229 | -€13,611 | -2.8% |
| Amounts payable after more than one year | 17 | €295,554 | €272,945 | -€22,609 | -7.6% |
| Financial debts | 170/4 | €295,554 | €272,945 | -€22,609 | -7.6% |
| Amounts payable within one year | 42/48 | €175,335 | €186,738 | +€11,403 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €33,734 | €22,609 | -€11,125 | -33.0% |
| Trade debts | 44 | €66,166 | €26,208 | -€39,958 | -60.4% |
| Suppliers | 440/4 | €66,166 | €26,208 | -€39,958 | -60.4% |
| Taxes, remuneration and social security | 45 | €4,538 | €10,614 | +€6,076 | +133.9% |
| Taxes | 450/3 | €4,538 | €5,380 | +€842 | +18.6% |
| Remuneration and social security | 454/9 | - | €5,234 | +€5,234 | |
| Other amounts payable | 47/48 | €70,897 | €127,307 | +€56,410 | +79.6% |
| Accrued charges and deferred income | 492/3 | €6,951 | €4,546 | -€2,404 | -34.6% |
| Remuneration, social security and pensions | 62 | €13,869 | €38,173 | +€24,304 | +175.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,069 | €39,924 | -€15,145 | -27.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,932 | €8,278 | +€3,346 | +67.8% |
| Other operating charges | 640/8 | €3,113 | €3,340 | +€227 | +7.3% |
| Non-recurring operating charges | 66A | €2,370 | - | -€2,370 | |
| Gross operating margin | 9900 | €153,158 | €184,600 | +€31,441 | +20.5% |
| Operating profit (loss) | 9901 | €73,805 | €94,885 | +€21,081 | +28.6% |
| Financial income | 75/76B | €1,502 | €1,253 | -€249 | -16.6% |
| Recurring financial income | 75 | €1,502 | €1,253 | -€249 | -16.6% |
| Financial charges | 65/66B | €22,117 | €20,293 | -€1,824 | -8.2% |
| Recurring financial charges | 65 | €22,117 | €20,293 | -€1,824 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €53,190 | €75,845 | +€22,655 | +42.6% |
| Income taxes | 67/77 | €7,852 | €19,436 | +€11,584 | +147.5% |
| Profit (loss) for the period | 9904 | €45,338 | €56,410 | +€11,071 | +24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €45,338 | €56,410 | +€11,071 | +24.4% |
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.