SMITZ: 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.
SMITZ
Largest movements
- Tangible fixed assets -€2,359
down €2,359 (-32.4%), from €7,287 to €4,928
of which Plant, machinery and equipment: -€1,183
- Receivables within one year -€1,303
down €1,303 (-16.0%), from €8,151 to €6,849
of which Other amounts receivable: -€1,503
- Deferred charges and accrued income -€1,086
down €1,086 (-41.3%), from €2,632 to €1,546
- Profit (loss) carried forward -€7,127
down €7,127 (-12.4%), from -€57,447 to -€64,575
- Trade debts +€3,240
up €3,240 (+137.1%), from €2,363 to €5,603
- Tax, wage and social debts -€977
no longer reported in 2025 (was €977)
- Gross operating margin -€3,157
down €3,157, from €1,555 to -€1,602
- Depreciation -€2,386
down €2,386 (-38.1%), from €6,262 to €3,876
- Financial charges +€216
up €216 (+99.4%), from €217 to €433
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 | €37,309 | €32,376 | -€4,933 | -13.2% |
| Fixed assets | 21/28 | €7,287 | €4,928 | -€2,359 | -32.4% |
| Tangible fixed assets | 22/27 | €7,287 | €4,928 | -€2,359 | -32.4% |
| Plant, machinery and equipment | 23 | €5,414 | €4,231 | -€1,183 | -21.8% |
| Furniture and vehicles | 24 | €1,872 | €696 | -€1,176 | -62.8% |
| Current assets | 29/58 | €30,022 | €27,448 | -€2,574 | -8.6% |
| Stocks and contracts in progress | 3 | €150 | €150 | = | 0.0% |
| Stocks | 30/36 | €150 | €150 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,151 | €6,849 | -€1,303 | -16.0% |
| Trade receivables | 40 | €4,942 | €5,142 | +€200 | +4.0% |
| Other amounts receivable | 41 | €3,210 | €1,707 | -€1,503 | -46.8% |
| Cash at bank and in hand | 54/58 | €19,089 | €18,904 | -€185 | -1.0% |
| Deferred charges and accrued income | 490/1 | €2,632 | €1,546 | -€1,086 | -41.3% |
| Total equity and liabilities | 10/49 | €37,309 | €32,376 | -€4,933 | -13.2% |
| Equity | 10/15 | €5,022 | -€2,106 | -€7,127 | |
| Contributions | 10/11 | €62,469 | €62,469 | = | 0.0% |
| Capital | 10 | €62,469 | €62,469 | = | 0.0% |
| Issued capital | 100 | €62,469 | €62,469 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,447 | -€64,575 | -€7,127 | -12.4% |
| Amounts payable | 17/49 | €32,287 | €34,481 | +€2,195 | +6.8% |
| Amounts payable within one year | 42/48 | €32,287 | €34,481 | +€2,195 | +6.8% |
| Trade debts | 44 | €2,363 | €5,603 | +€3,240 | +137.1% |
| Suppliers | 440/4 | €2,363 | €5,603 | +€3,240 | +137.1% |
| Taxes, remuneration and social security | 45 | €977 | - | -€977 | |
| Taxes | 450/3 | €977 | - | -€977 | |
| Other amounts payable | 47/48 | €28,947 | €28,878 | -€69 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,262 | €3,876 | -€2,386 | -38.1% |
| Other operating charges | 640/8 | €220 | €222 | +€1 | +0.7% |
| Non-recurring operating charges | 66A | - | €1,003 | +€1,003 | |
| Gross operating margin | 9900 | €1,555 | -€1,602 | -€3,157 | |
| Operating profit (loss) | 9901 | -€4,928 | -€6,702 | -€1,775 | -36.0% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €217 | €433 | +€216 | +99.4% |
| Recurring financial charges | 65 | €217 | €433 | +€216 | +99.4% |
| Profit (loss) for the period before taxes | 9903 | -€5,145 | -€7,127 | -€1,982 | -38.5% |
| Profit (loss) for the period | 9904 | -€5,145 | -€7,127 | -€1,982 | -38.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,145 | -€7,127 | -€1,982 | -38.5% |
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 3 October 2026 via checked.be.