SMITZ FINANCE: 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.
SMITZ FINANCE
Largest movements
- Cash +€332,567
up €332,567 (+12,334%), from €2,696 to €335,263
mainly Current investments (+€280,000) and Net result for the year (+€67,181)
- Current investments -€280,000
down €280,000 (-77.8%), from €360,000 to €80,000
- Financial fixed assets +€80,163
up €80,163 (+89,070%), from €90 to €80,253
- Receivables within one year -€37,282
down €37,282 (-61.1%), from €61,003 to €23,721
of which Other amounts receivable: -€41,282
- Deferred charges and accrued income -€10,289
down €10,289 (-79.1%), from €13,010 to €2,720
- Reserves +€67,181
up €67,181 (+17.1%), from €393,565 to €460,746
- Other debts +€26,504
new in 2025: €26,504
- Current portion of long-term debt -€10,748
down €10,748 (-64.3%), from €16,708 to €5,960
- Gross operating margin +€61,961
up €61,961 (+182%), from €34,047 to €96,008
- Taxes +€16,422
up €16,422 (+119%), from €13,786 to €30,208
- Financial income -€4,601
down €4,601 (-39.4%), from €11,689 to €7,089
- Financial charges +€2,214
up €2,214 (+457%), from €485 to €2,699
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 | €456,253 | €542,466 | +€86,212 | +18.9% |
| Fixed assets | 21/28 | €4,544 | €85,761 | +€81,217 | +1,787% |
| Tangible fixed assets | 22/27 | €4,454 | €5,508 | +€1,054 | +23.7% |
| Plant, machinery and equipment | 23 | €249 | - | -€249 | |
| Furniture and vehicles | 24 | €4,105 | €5,508 | +€1,402 | +34.2% |
| Other tangible fixed assets | 26 | €100 | - | -€100 | |
| Financial fixed assets | 28 | €90 | €80,253 | +€80,163 | +89,070% |
| Current assets | 29/58 | €451,709 | €456,705 | +€4,996 | +1.1% |
| Amounts receivable after more than one year | 29 | €15,000 | €15,000 | = | 0.0% |
| Other amounts receivable | 291 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €61,003 | €23,721 | -€37,282 | -61.1% |
| Trade receivables | 40 | €10,000 | €14,000 | +€4,000 | +40.0% |
| Other amounts receivable | 41 | €51,003 | €9,721 | -€41,282 | -80.9% |
| Current investments | 50/53 | €360,000 | €80,000 | -€280,000 | -77.8% |
| Cash at bank and in hand | 54/58 | €2,696 | €335,263 | +€332,567 | +12,334% |
| Deferred charges and accrued income | 490/1 | €13,010 | €2,720 | -€10,289 | -79.1% |
| Total equity and liabilities | 10/49 | €456,253 | €542,466 | +€86,212 | +18.9% |
| Equity | 10/15 | €412,165 | €479,346 | +€67,181 | +16.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €393,565 | €460,746 | +€67,181 | +17.1% |
| Distributable reserves | 133 | €393,565 | €460,746 | +€67,181 | +17.1% |
| Amounts payable | 17/49 | €44,089 | €63,120 | +€19,031 | +43.2% |
| Amounts payable within one year | 42/48 | €44,067 | €61,481 | +€17,414 | +39.5% |
| Current portion of amounts payable after more than one year | 42 | €16,708 | €5,960 | -€10,748 | -64.3% |
| Trade debts | 44 | €8,480 | €5,512 | -€2,968 | -35.0% |
| Suppliers | 440/4 | €8,480 | €5,512 | -€2,968 | -35.0% |
| Taxes, remuneration and social security | 45 | €18,879 | €23,506 | +€4,627 | +24.5% |
| Taxes | 450/3 | €15,454 | €21,406 | +€5,952 | +38.5% |
| Remuneration and social security | 454/9 | €3,425 | €2,100 | -€1,325 | -38.7% |
| Other amounts payable | 47/48 | - | €26,504 | +€26,504 | |
| Accrued charges and deferred income | 492/3 | €21 | €1,639 | +€1,617 | +7,607% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,946 | €1,909 | -€37 | -1.9% |
| Other operating charges | 640/8 | €809 | €1,101 | +€292 | +36.2% |
| Gross operating margin | 9900 | €34,047 | €96,008 | +€61,961 | +182% |
| Operating profit (loss) | 9901 | €31,293 | €92,999 | +€61,706 | +197% |
| Financial income | 75/76B | €11,689 | €7,089 | -€4,601 | -39.4% |
| Recurring financial income | 75 | €11,689 | €7,089 | -€4,601 | -39.4% |
| Financial charges | 65/66B | €485 | €2,699 | +€2,214 | +457% |
| Recurring financial charges | 65 | €485 | €2,699 | +€2,214 | +457% |
| Profit (loss) for the period before taxes | 9903 | €42,497 | €97,389 | +€54,891 | +129% |
| Income taxes | 67/77 | €13,786 | €30,208 | +€16,422 | +119% |
| Profit (loss) for the period | 9904 | €28,712 | €67,181 | +€38,469 | +134% |
| Profit (loss) for the period to be appropriated | 9905 | €28,712 | €67,181 | +€38,469 | +134% |
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 23 October 2026 via checked.be.