Smitt: 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.
Smitt
Largest movements
- Receivables within one year +€11,190
up €11,190 (+7.6%), from €146,579 to €157,769
of which Other amounts receivable: +€37,184
- Receivables after one year +€3,067
up €3,067 (+2.8%), from €108,365 to €111,432
- Reserves +€23,891
up €23,891 (+10.3%), from €231,654 to €255,545
- Trade debts -€5,865
down €5,865 (-100%), from €5,865 to €0
- Tax, wage and social debts -€4,738
down €4,738 (-100%), from €4,738 to €0
- Gross operating margin -€46,394
down €46,394 (-59.7%), from €77,708 to €31,314
- Taxes -€11,382
down €11,382 (-49.4%), from €23,051 to €11,669
- Financial income +€1,069
up €1,069 (+10.5%), from €10,187 to €11,256
- Financial charges -€1,015
down €1,015 (-58.1%), from €1,746 to €731
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 | €259,300 | €270,621 | +€11,322 | +4.4% |
| Fixed assets | 21/28 | €887 | €278 | -€609 | -68.6% |
| Tangible fixed assets | 22/27 | €887 | €278 | -€609 | -68.6% |
| Plant, machinery and equipment | 23 | €234 | €0 | -€234 | -100% |
| Furniture and vehicles | 24 | €652 | €278 | -€374 | -57.4% |
| Current assets | 29/58 | €258,413 | €270,343 | +€11,930 | +4.6% |
| Amounts receivable after more than one year | 29 | €108,365 | €111,432 | +€3,067 | +2.8% |
| Other amounts receivable | 291 | €108,365 | €111,432 | +€3,067 | +2.8% |
| Amounts receivable within one year | 40/41 | €146,579 | €157,769 | +€11,190 | +7.6% |
| Trade receivables | 40 | €25,994 | €0 | -€25,994 | -100% |
| Other amounts receivable | 41 | €120,585 | €157,769 | +€37,184 | +30.8% |
| Cash at bank and in hand | 54/58 | €30 | €201 | +€171 | +573% |
| Deferred charges and accrued income | 490/1 | €3,440 | €942 | -€2,498 | -72.6% |
| Total equity and liabilities | 10/49 | €259,300 | €270,621 | +€11,322 | +4.4% |
| Equity | 10/15 | €244,054 | €267,945 | +€23,891 | +9.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €231,654 | €255,545 | +€23,891 | +10.3% |
| Distributable reserves | 133 | €231,654 | €255,545 | +€23,891 | +10.3% |
| Amounts payable | 17/49 | €15,246 | €2,677 | -€12,569 | -82.4% |
| Amounts payable within one year | 42/48 | €12,672 | €2,069 | -€10,603 | -83.7% |
| Current portion of amounts payable after more than one year | 42 | €2,069 | €2,069 | = | 0.0% |
| Trade debts | 44 | €5,865 | €0 | -€5,865 | -100% |
| Suppliers | 440/4 | €5,865 | €0 | -€5,865 | -100% |
| Taxes, remuneration and social security | 45 | €4,738 | €0 | -€4,738 | -100% |
| Taxes | 450/3 | €4,738 | €0 | -€4,738 | -100% |
| Accrued charges and deferred income | 492/3 | €2,574 | €608 | -€1,966 | -76.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €814 | €609 | -€206 | -25.3% |
| Other operating charges | 640/8 | €6,229 | €5,670 | -€560 | -9.0% |
| Gross operating margin | 9900 | €77,708 | €31,314 | -€46,394 | -59.7% |
| Operating profit (loss) | 9901 | €70,664 | €25,035 | -€45,629 | -64.6% |
| Financial income | 75/76B | €10,187 | €11,256 | +€1,069 | +10.5% |
| Recurring financial income | 75 | €10,187 | €11,256 | +€1,069 | +10.5% |
| Financial charges | 65/66B | €1,746 | €731 | -€1,015 | -58.1% |
| Recurring financial charges | 65 | €1,746 | €731 | -€1,015 | -58.1% |
| Profit (loss) for the period before taxes | 9903 | €79,105 | €35,560 | -€43,545 | -55.0% |
| Income taxes | 67/77 | €23,051 | €11,669 | -€11,382 | -49.4% |
| Profit (loss) for the period | 9904 | €56,054 | €23,891 | -€32,163 | -57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €56,054 | €23,891 | -€32,163 | -57.4% |
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 13 October 2026 via checked.be.