Smits Projects: 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 Projects
Largest movements
- Cash +€27,606
up €27,606 (+29.1%), from €94,996 to €122,602
mainly Other debts (+€63,236) and Net result for the year (+€42,306)
- Receivables within one year -€9,094
down €9,094 (-27.8%), from €32,695 to €23,601
of which Trade receivables: -€5,565
- Other debts +€63,236
up €63,236 (+33.5%), from €188,755 to €251,991
- Reserves -€24,551
down €24,551 (-100.0%), from €24,551 to €0
- Debts after one year -€21,709
down €21,709 (-37.2%), from €58,371 to €36,662
- Gross operating margin +€22,448
up €22,448 (+60.9%), from €36,840 to €59,288
- Taxes +€5,975
up €5,975 (+66.0%), from €9,053 to €15,028
- Financial income +€839
up €839 (+304.4%), from €276 to €1,115
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 | €319,569 | €337,435 | +€17,866 | +5.6% |
| Fixed assets | 21/28 | €182,181 | €184,109 | +€1,928 | +1.1% |
| Tangible fixed assets | 22/27 | €2,181 | €4,109 | +€1,928 | +88.4% |
| Plant, machinery and equipment | 23 | €412 | €1,217 | +€805 | +195.7% |
| Furniture and vehicles | 24 | €1,769 | €2,892 | +€1,123 | +63.5% |
| Financial fixed assets | 28 | €180,000 | €180,000 | = | 0.0% |
| Current assets | 29/58 | €137,388 | €153,326 | +€15,938 | +11.6% |
| Amounts receivable within one year | 40/41 | €32,695 | €23,601 | -€9,094 | -27.8% |
| Trade receivables | 40 | €20,166 | €14,601 | -€5,565 | -27.6% |
| Other amounts receivable | 41 | €12,529 | €9,000 | -€3,529 | -28.2% |
| Cash at bank and in hand | 54/58 | €94,996 | €122,602 | +€27,606 | +29.1% |
| Deferred charges and accrued income | 490/1 | €9,697 | €7,123 | -€2,574 | -26.5% |
| Total equity and liabilities | 10/49 | €319,569 | €337,435 | +€17,866 | +5.6% |
| Equity | 10/15 | €43,151 | €18,600 | -€24,551 | -56.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,551 | €0 | -€24,551 | -100.0% |
| Distributable reserves | 133 | €24,551 | €0 | -€24,551 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €276,417 | €318,835 | +€42,418 | +15.3% |
| Amounts payable after more than one year | 17 | €58,371 | €36,662 | -€21,709 | -37.2% |
| Financial debts | 170/4 | €58,371 | €36,662 | -€21,709 | -37.2% |
| Amounts payable within one year | 42/48 | €218,046 | €282,173 | +€64,127 | +29.4% |
| Current portion of amounts payable after more than one year | 42 | €23,277 | €23,508 | +€231 | +1.0% |
| Trade debts | 44 | €700 | €1,786 | +€1,086 | +155.2% |
| Suppliers | 440/4 | €700 | €1,786 | +€1,086 | +155.2% |
| Taxes, remuneration and social security | 45 | €5,315 | €4,887 | -€427 | -8.0% |
| Taxes | 450/3 | €5,315 | €4,887 | -€427 | -8.0% |
| Other amounts payable | 47/48 | €188,755 | €251,991 | +€63,236 | +33.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,139 | €1,069 | -€71 | -6.2% |
| Other operating charges | 640/8 | €1,280 | €1,118 | -€162 | -12.7% |
| Gross operating margin | 9900 | €36,840 | €59,288 | +€22,448 | +60.9% |
| Operating profit (loss) | 9901 | €34,421 | €57,102 | +€22,681 | +65.9% |
| Financial income | 75/76B | €276 | €1,115 | +€839 | +304.4% |
| Recurring financial income | 75 | €276 | €1,115 | +€839 | +304.4% |
| Financial charges | 65/66B | €1,092 | €884 | -€209 | -19.1% |
| Recurring financial charges | 65 | €1,092 | €884 | -€209 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €33,604 | €57,333 | +€23,729 | +70.6% |
| Income taxes | 67/77 | €9,053 | €15,028 | +€5,975 | +66.0% |
| Profit (loss) for the period | 9904 | €24,551 | €42,306 | +€17,755 | +72.3% |
| Profit (loss) for the period to be appropriated | 9905 | €24,551 | €42,306 | +€17,755 | +72.3% |
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 5 October 2026 via checked.be.