SMK CORPORATION: what changed
SMK CORPORATION
Largest movements
- Receivables within one year +€56,566
up €56,566 (+114%), from €49,648 to €106,214
of which Other amounts receivable: +€61,692
- Cash +€48,129
up €48,129 (+25.4%), from €189,121 to €237,250
mainly Depreciation (+€176,168) and Net result for the year (+€112,871)
- Tangible fixed assets -€43,426
down €43,426 (-3.6%), from €1.2m to €1.2m
of which Leasing and similar rights: -€55,293
- Stocks and contracts +€19,585
up €19,585 (+61.1%), from €32,079 to €51,665
- Profit (loss) carried forward +€59,871
up €59,871 (+26.0%), from €230,679 to €290,549
- Debts after one year -€41,105
down €41,105 (-3.8%), from €1.1m to €1.1m
- Trade debts +€26,285
up €26,285 (+103%), from €25,621 to €51,906
- Current portion of long-term debt +€16,455
up €16,455 (+14.2%), from €116,276 to €132,731
- Staff costs +€52,225
up €52,225 (+112%), from €46,598 to €98,823
- Depreciation +€48,773
up €48,773 (+38.3%), from €127,395 to €176,168
- Gross operating margin -€27,755
down €27,755 (-5.2%), from €531,413 to €503,658
- Other operating charges -€10,384
down €10,384 (-38.5%), from €26,973 to €16,589
- Financial charges +€8,240
up €8,240 (+17.8%), from €46,316 to €54,556
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,492,538 | €1,575,094 | +€82,556 | +5.5% |
| Fixed assets | 21/28 | €1,217,121 | €1,177,559 | -€39,562 | -3.3% |
| Intangible fixed assets | 21 | €5,654 | €9,517 | +€3,863 | +68.3% |
| Tangible fixed assets | 22/27 | €1,211,467 | €1,168,042 | -€43,426 | -3.6% |
| Land and buildings | 22 | €704,947 | €649,962 | -€54,986 | -7.8% |
| Plant, machinery and equipment | 23 | €49,055 | €133,179 | +€84,123 | +171% |
| Furniture and vehicles | 24 | €159,116 | €141,846 | -€17,271 | -10.9% |
| Leasing and similar rights | 25 | €298,348 | €243,056 | -€55,293 | -18.5% |
| Current assets | 29/58 | €275,417 | €397,535 | +€122,118 | +44.3% |
| Stocks and contracts in progress | 3 | €32,079 | €51,665 | +€19,585 | +61.1% |
| Stocks | 30/36 | €32,079 | €51,665 | +€19,585 | +61.1% |
| Amounts receivable within one year | 40/41 | €49,648 | €106,214 | +€56,566 | +114% |
| Trade receivables | 40 | €6,961 | €1,836 | -€5,125 | -73.6% |
| Other amounts receivable | 41 | €42,686 | €104,378 | +€61,692 | +145% |
| Cash at bank and in hand | 54/58 | €189,121 | €237,250 | +€48,129 | +25.4% |
| Deferred charges and accrued income | 490/1 | €4,569 | €2,406 | -€2,163 | -47.3% |
| Total equity and liabilities | 10/49 | €1,492,538 | €1,575,094 | +€82,556 | +5.5% |
| Equity | 10/15 | €238,679 | €298,549 | +€59,871 | +25.1% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €230,679 | €290,549 | +€59,871 | +26.0% |
| Amounts payable | 17/49 | €1,253,860 | €1,276,545 | +€22,685 | +1.8% |
| Amounts payable after more than one year | 17 | €1,095,871 | €1,054,766 | -€41,105 | -3.8% |
| Financial debts | 170/4 | €1,095,871 | €1,054,766 | -€41,105 | -3.8% |
| Amounts payable within one year | 42/48 | €157,988 | €213,023 | +€55,034 | +34.8% |
| Current portion of amounts payable after more than one year | 42 | €116,276 | €132,731 | +€16,455 | +14.2% |
| Trade debts | 44 | €25,621 | €51,906 | +€26,285 | +103% |
| Suppliers | 440/4 | €25,621 | €51,906 | +€26,285 | +103% |
| Taxes, remuneration and social security | 45 | €14,930 | €28,385 | +€13,456 | +90.1% |
| Taxes | 450/3 | €470 | €2,808 | +€2,338 | +498% |
| Remuneration and social security | 454/9 | €14,460 | €25,578 | +€11,118 | +76.9% |
| Other amounts payable | 47/48 | €1,162 | - | -€1,162 | |
| Accrued charges and deferred income | 492/3 | - | €8,756 | +€8,756 | |
| Remuneration, social security and pensions | 62 | €46,598 | €98,823 | +€52,225 | +112% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,395 | €176,168 | +€48,773 | +38.3% |
| Other operating charges | 640/8 | €26,973 | €16,589 | -€10,384 | -38.5% |
| Gross operating margin | 9900 | €531,413 | €503,658 | -€27,755 | -5.2% |
| Operating profit (loss) | 9901 | €330,447 | €212,078 | -€118,369 | -35.8% |
| Financial income | 75/76B | €1,026 | €3,228 | +€2,202 | +215% |
| Recurring financial income | 75 | €1,026 | €3,228 | +€2,202 | +215% |
| Financial charges | 65/66B | €46,316 | €54,556 | +€8,240 | +17.8% |
| Recurring financial charges | 65 | €46,316 | €54,556 | +€8,240 | +17.8% |
| Profit (loss) for the period before taxes | 9903 | €285,157 | €160,750 | -€124,408 | -43.6% |
| Income taxes | 67/77 | €52,674 | €47,879 | -€4,795 | -9.1% |
| Profit (loss) for the period | 9904 | €232,483 | €112,871 | -€119,613 | -51.5% |
| Profit (loss) for the period to be appropriated | 9905 | €232,483 | €112,871 | -€119,613 | -51.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.