SMITS: 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.
SMITS
Largest movements
- Tangible fixed assets +€14,504
up €14,504 (+13.7%), from €105,638 to €120,143
of which Plant, machinery and equipment: +€17,579
- Other debts +€57,762
up €57,762 (+12.9%), from €449,432 to €507,194
- Profit (loss) carried forward -€47,823
down €47,823 (-14.1%), from -€338,808 to -€386,632
- Trade debts +€5,798
up €5,798 (+523.2%), from €1,108 to €6,906
- Gross operating margin -€6,011
down €6,011 (-21.6%), from -€27,817 to -€33,828
- Depreciation +€1,435
up €1,435 (+11.4%), from €12,560 to €13,995
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 | €139,038 | €154,774 | +€15,736 | +11.3% |
| Fixed assets | 21/28 | €106,427 | €120,932 | +€14,504 | +13.6% |
| Tangible fixed assets | 22/27 | €105,638 | €120,143 | +€14,504 | +13.7% |
| Plant, machinery and equipment | 23 | €79,757 | €97,336 | +€17,579 | +22.0% |
| Furniture and vehicles | 24 | €25,881 | €22,806 | -€3,075 | -11.9% |
| Financial fixed assets | 28 | €789 | €789 | = | 0.0% |
| Current assets | 29/58 | €32,610 | €33,842 | +€1,232 | +3.8% |
| Stocks and contracts in progress | 3 | €27,000 | €27,000 | = | 0.0% |
| Stocks | 30/36 | €27,000 | €27,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €411 | €1,734 | +€1,323 | +322.0% |
| Trade receivables | 40 | - | €1,734 | +€1,734 | |
| Other amounts receivable | 41 | €411 | - | -€411 | |
| Cash at bank and in hand | 54/58 | €5,199 | €5,108 | -€92 | -1.8% |
| Total equity and liabilities | 10/49 | €139,038 | €154,774 | +€15,736 | +11.3% |
| Equity | 10/15 | -€311,503 | -€359,326 | -€47,823 | -15.4% |
| Contributions | 10/11 | €8,065 | €8,065 | = | 0.0% |
| Outside capital | 11 | €8,065 | €8,065 | = | 0.0% |
| Share premium | 1100/10 | €8,065 | €8,065 | = | 0.0% |
| Reserves | 13 | €19,241 | €19,241 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,747 | €6,747 | = | 0.0% |
| Distributable reserves | 133 | €12,494 | €12,494 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€338,808 | -€386,632 | -€47,823 | -14.1% |
| Amounts payable | 17/49 | €450,540 | €514,100 | +€63,559 | +14.1% |
| Amounts payable within one year | 42/48 | €450,540 | €514,100 | +€63,559 | +14.1% |
| Trade debts | 44 | €1,108 | €6,906 | +€5,798 | +523.2% |
| Suppliers | 440/4 | €1,108 | €6,906 | +€5,798 | +523.2% |
| Other amounts payable | 47/48 | €449,432 | €507,194 | +€57,762 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,560 | €13,995 | +€1,435 | +11.4% |
| Gross operating margin | 9900 | -€27,817 | -€33,828 | -€6,011 | -21.6% |
| Operating profit (loss) | 9901 | -€40,377 | -€47,823 | -€7,446 | -18.4% |
| Financial income | 75/76B | €1 | €0 | -€0 | -98.0% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -98.0% |
| Profit (loss) for the period before taxes | 9903 | -€40,377 | -€47,823 | -€7,447 | -18.4% |
| Profit (loss) for the period | 9904 | -€40,377 | -€47,823 | -€7,447 | -18.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,377 | -€47,823 | -€7,447 | -18.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.