SMITS: 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.
SMITS
Largest movements
- Tangible fixed assets +€48,432
up €48,432 (+75.7%), from €63,942 to €112,374
of which Land and buildings: +€34,355
- Deferred charges and accrued income -€7,750
down €7,750 (-87.8%), from €8,826 to €1,076
- Receivables within one year -€4,557
down €4,557 (-55.5%), from €8,213 to €3,656
of which Trade receivables: -€4,191
- Cash +€2,883
up €2,883 (+20.4%), from €14,097 to €16,980
mainly Debts after one year (+€25,739) and Net result for the year (+€11,951)
- Debts after one year +€25,739
new in 2025: €25,739
- Profit (loss) carried forward +€11,951
up €11,951 (+56.3%), from €21,235 to €33,187
- Trade debts -€4,139
down €4,139 (-73.5%), from €5,630 to €1,491
- Tax, wage and social debts +€3,657
up €3,657 (+463.0%), from €790 to €4,447
- Current portion of long-term debt +€2,588
new in 2025: €2,588
- Gross operating margin +€16,392
up €16,392 (+97.0%), from €16,903 to €33,294
- Taxes +€2,034
up €2,034 (+269.7%), from €754 to €2,788
- Other operating charges +€1,557
up €1,557 (+29.1%), from €5,346 to €6,903
- Financial charges +€1,004
up €1,004 (+347.3%), from €289 to €1,294
- Staff costs +€936
up €936 (+2094.9%), from €45 to €981
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 | €95,078 | €134,086 | +€39,008 | +41.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €63,942 | €112,374 | +€48,432 | +75.7% |
| Tangible fixed assets | 22/27 | €63,942 | €112,374 | +€48,432 | +75.7% |
| Land and buildings | 22 | €54,951 | €89,306 | +€34,355 | +62.5% |
| Plant, machinery and equipment | 23 | €6,138 | €18,016 | +€11,878 | +193.5% |
| Furniture and vehicles | 24 | €2,853 | €5,052 | +€2,199 | +77.1% |
| Current assets | 29/58 | €31,136 | €21,712 | -€9,425 | -30.3% |
| Amounts receivable within one year | 40/41 | €8,213 | €3,656 | -€4,557 | -55.5% |
| Trade receivables | 40 | €5,969 | €1,777 | -€4,191 | -70.2% |
| Other amounts receivable | 41 | €2,245 | €1,879 | -€366 | -16.3% |
| Cash at bank and in hand | 54/58 | €14,097 | €16,980 | +€2,883 | +20.4% |
| Deferred charges and accrued income | 490/1 | €8,826 | €1,076 | -€7,750 | -87.8% |
| Total equity and liabilities | 10/49 | €95,078 | €134,086 | +€39,008 | +41.0% |
| Equity | 10/15 | €84,458 | €96,409 | +€11,951 | +14.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,222 | €1,222 | = | 0.0% |
| Distributable reserves | 133 | €1,222 | €1,222 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,235 | €33,187 | +€11,951 | +56.3% |
| Amounts payable | 17/49 | €10,620 | €37,677 | +€27,057 | +254.8% |
| Amounts payable after more than one year | 17 | - | €25,739 | +€25,739 | |
| Financial debts | 170/4 | - | €25,739 | +€25,739 | |
| Amounts payable within one year | 42/48 | €6,420 | €9,838 | +€3,417 | +53.2% |
| Current portion of amounts payable after more than one year | 42 | - | €2,588 | +€2,588 | |
| Trade debts | 44 | €5,630 | €1,491 | -€4,139 | -73.5% |
| Suppliers | 440/4 | €5,630 | €1,491 | -€4,139 | -73.5% |
| Taxes, remuneration and social security | 45 | €790 | €4,447 | +€3,657 | +463.0% |
| Taxes | 450/3 | €790 | €4,447 | +€3,657 | +463.0% |
| Other amounts payable | 47/48 | - | €1,312 | +€1,312 | |
| Accrued charges and deferred income | 492/3 | €4,200 | €2,100 | -€2,100 | -50.0% |
| Remuneration, social security and pensions | 62 | €45 | €981 | +€936 | +2094.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,118 | €9,380 | +€263 | +2.9% |
| Other operating charges | 640/8 | €5,346 | €6,903 | +€1,557 | +29.1% |
| Gross operating margin | 9900 | €16,903 | €33,294 | +€16,392 | +97.0% |
| Operating profit (loss) | 9901 | €2,395 | €16,030 | +€13,635 | +569.4% |
| Financial income | 75/76B | €23 | €3 | -€20 | -87.7% |
| Recurring financial income | 75 | €23 | €3 | -€20 | -87.7% |
| Financial charges | 65/66B | €289 | €1,294 | +€1,004 | +347.3% |
| Recurring financial charges | 65 | €289 | €1,294 | +€1,004 | +347.3% |
| Profit (loss) for the period before taxes | 9903 | €2,129 | €14,739 | +€12,610 | +592.3% |
| Income taxes | 67/77 | €754 | €2,788 | +€2,034 | +269.7% |
| Profit (loss) for the period | 9904 | €1,375 | €11,951 | +€10,576 | +769.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,375 | €11,951 | +€10,576 | +769.4% |
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 9 October 2026 via checked.be.