SMITS - KIP: 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 - KIP
Largest movements
- Receivables within one year +€71,056
up €71,056 (+105%), from €67,784 to €138,840
of which Other amounts receivable: +€109,982
- Cash +€43,865
up €43,865 (+182%), from €24,135 to €68,000
mainly Net result for the year (+€130,569) and Other debts (+€37,138)
- Tangible fixed assets -€34,783
down €34,783 (-45.8%), from €75,935 to €41,153
of which Plant, machinery and equipment: -€60,316
- Stocks and contracts -€18,200
no longer reported in 2025 (was €18,200)
- Receivables after one year -€13,536
down €13,536 (-11.4%), from €119,065 to €105,528
- Reserves +€92,604
up €92,604 (+67.8%), from €136,666 to €229,270
of which Distributable reserves: +€92,604
- Trade debts -€72,372
down €72,372 (-82.3%), from €87,965 to €15,593
- Other debts +€37,138
up €37,138 (+4,458%), from €833 to €37,971
- Debts after one year -€22,090
down €22,090 (-43.9%), from €50,277 to €28,188
- Tax, wage and social debts +€17,005
up €17,005 (+2,839%), from €599 to €17,603
of which Taxes: +€17,344
- Gross operating margin +€147,049
up €147,049 (+374%), from €39,353 to €186,402
- Taxes +€45,815
up €45,815 (+2,562%), from €1,788 to €47,603
- Depreciation -€18,714
down €18,714 (-88.0%), from €21,274 to €2,560
- Financial income +€4,549
up €4,549 (+136%), from €3,343 to €7,892
- Staff costs -€2,729
down €2,729 (-38.2%), from €7,145 to €4,416
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.
Derived cash bridge
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 | €305,684 | €354,040 | +€48,356 | +15.8% |
| Fixed assets | 21/28 | €75,935 | €41,153 | -€34,783 | -45.8% |
| Tangible fixed assets | 22/27 | €75,935 | €41,153 | -€34,783 | -45.8% |
| Land and buildings | 22 | €13,303 | - | -€13,303 | |
| Plant, machinery and equipment | 23 | €62,633 | €2,317 | -€60,316 | -96.3% |
| Furniture and vehicles | 24 | €0 | €38,836 | +€38,836 | |
| Current assets | 29/58 | €229,749 | €312,887 | +€83,138 | +36.2% |
| Amounts receivable after more than one year | 29 | €119,065 | €105,528 | -€13,536 | -11.4% |
| Other amounts receivable | 291 | €119,065 | €105,528 | -€13,536 | -11.4% |
| Stocks and contracts in progress | 3 | €18,200 | - | -€18,200 | |
| Stocks | 30/36 | €18,200 | - | -€18,200 | |
| Amounts receivable within one year | 40/41 | €67,784 | €138,840 | +€71,056 | +105% |
| Trade receivables | 40 | €53,745 | €14,820 | -€38,926 | -72.4% |
| Other amounts receivable | 41 | €14,039 | €124,020 | +€109,982 | +783% |
| Cash at bank and in hand | 54/58 | €24,135 | €68,000 | +€43,865 | +182% |
| Deferred charges and accrued income | 490/1 | €565 | €519 | -€46 | -8.2% |
| Total equity and liabilities | 10/49 | €305,684 | €354,040 | +€48,356 | +15.8% |
| Equity | 10/15 | €155,258 | €247,862 | +€92,604 | +59.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €136,666 | €229,270 | +€92,604 | +67.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €134,807 | €227,411 | +€92,604 | +68.7% |
| Amounts payable | 17/49 | €150,426 | €106,177 | -€44,249 | -29.4% |
| Amounts payable after more than one year | 17 | €50,277 | €28,188 | -€22,090 | -43.9% |
| Financial debts | 170/4 | €50,277 | €28,188 | -€22,090 | -43.9% |
| Amounts payable within one year | 42/48 | €100,149 | €77,990 | -€22,159 | -22.1% |
| Current portion of amounts payable after more than one year | 42 | €10,752 | €6,822 | -€3,929 | -36.5% |
| Trade debts | 44 | €87,965 | €15,593 | -€72,372 | -82.3% |
| Suppliers | 440/4 | €87,965 | €15,593 | -€72,372 | -82.3% |
| Taxes, remuneration and social security | 45 | €599 | €17,603 | +€17,005 | +2,839% |
| Taxes | 450/3 | €260 | €17,603 | +€17,344 | +6,676% |
| Remuneration and social security | 454/9 | €339 | - | -€339 | |
| Other amounts payable | 47/48 | €833 | €37,971 | +€37,138 | +4,458% |
| Remuneration, social security and pensions | 62 | €7,145 | €4,416 | -€2,729 | -38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,274 | €2,560 | -€18,714 | -88.0% |
| Other operating charges | 640/8 | €4,447 | €3,515 | -€932 | -21.0% |
| Gross operating margin | 9900 | €39,353 | €186,402 | +€147,049 | +374% |
| Operating profit (loss) | 9901 | €6,486 | €175,910 | +€169,424 | +2,612% |
| Financial income | 75/76B | €3,343 | €7,892 | +€4,549 | +136% |
| Recurring financial income | 75 | €3,343 | €7,892 | +€4,549 | +136% |
| Financial charges | 65/66B | €5,801 | €5,629 | -€172 | -3.0% |
| Recurring financial charges | 65 | €5,801 | €5,629 | -€172 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €4,028 | €178,173 | +€174,144 | +4,323% |
| Income taxes | 67/77 | €1,788 | €47,603 | +€45,815 | +2,562% |
| Profit (loss) for the period | 9904 | €2,240 | €130,569 | +€128,329 | +5,728% |
| Profit (loss) for the period to be appropriated | 9905 | €2,240 | €130,569 | +€128,329 | +5,728% |
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 28 October 2026 via checked.be.