SMK GROUP: 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.
SMK GROUP
Largest movements
- Cash +€3,573
up €3,573 (+53.0%), from €6,744 to €10,317
mainly Debts after one year (+€11,164) and Net result for the year (+€2,598)
- Stocks and contracts +€2,160
up €2,160 (+9.2%), from €23,500 to €25,660
- Tangible fixed assets -€1,938
down €1,938 (-45.6%), from €4,252 to €2,314
- Receivables within one year -€495
down €495 (-9.4%), from €5,255 to €4,760
of which Other amounts receivable: -€1,548
- Debts after one year +€11,164
new in 2025: €11,164
- Other debts -€10,916
down €10,916 (-77.1%), from €14,150 to €3,234
- Profit (loss) carried forward +€2,598
up €2,598 (+21.7%), from €11,996 to €14,595
- Current portion of long-term debt +€2,406
new in 2025: €2,406
- Tax, wage and social debts -€1,334
down €1,334 (-34.2%), from €3,905 to €2,571
- Other operating charges +€10,206
up €10,206 (+2,325%), from €439 to €10,645
- Gross operating margin +€4,988
up €4,988 (+45.9%), from €10,863 to €15,851
- Taxes -€1,312
down €1,312 (-91.0%), from €1,442 to €130
- Financial charges -€1,044
down €1,044 (-64.1%), from €1,629 to €585
of which Financial charges: -€1,044
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 | €42,139 | €45,297 | +€3,158 | +7.5% |
| Fixed assets | 21/28 | €4,282 | €2,344 | -€1,938 | -45.3% |
| Tangible fixed assets | 22/27 | €4,252 | €2,314 | -€1,938 | -45.6% |
| Plant, machinery and equipment | 23 | €4,252 | €2,314 | -€1,938 | -45.6% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €37,857 | €42,954 | +€5,096 | +13.5% |
| Stocks and contracts in progress | 3 | €23,500 | €25,660 | +€2,160 | +9.2% |
| Stocks | 30/36 | €23,500 | €25,660 | +€2,160 | +9.2% |
| Amounts receivable within one year | 40/41 | €5,255 | €4,760 | -€495 | -9.4% |
| Trade receivables | 40 | €2,896 | €3,949 | +€1,053 | +36.4% |
| Other amounts receivable | 41 | €2,358 | €810 | -€1,548 | -65.6% |
| Cash at bank and in hand | 54/58 | €6,744 | €10,317 | +€3,573 | +53.0% |
| Deferred charges and accrued income | 490/1 | €2,359 | €2,217 | -€142 | -6.0% |
| Total equity and liabilities | 10/49 | €42,139 | €45,297 | +€3,158 | +7.5% |
| Equity | 10/15 | €13,996 | €16,595 | +€2,598 | +18.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,996 | €14,595 | +€2,598 | +21.7% |
| Amounts payable | 17/49 | €28,143 | €28,703 | +€560 | +2.0% |
| Amounts payable after more than one year | 17 | - | €11,164 | +€11,164 | |
| Financial debts | 170/4 | - | €11,164 | +€11,164 | |
| Amounts payable within one year | 42/48 | €21,843 | €11,239 | -€10,604 | -48.5% |
| Current portion of amounts payable after more than one year | 42 | - | €2,406 | +€2,406 | |
| Trade debts | 44 | €3,788 | €3,028 | -€760 | -20.1% |
| Suppliers | 440/4 | €3,788 | €3,028 | -€760 | -20.1% |
| Taxes, remuneration and social security | 45 | €3,905 | €2,571 | -€1,334 | -34.2% |
| Taxes | 450/3 | €3,905 | €2,571 | -€1,334 | -34.2% |
| Other amounts payable | 47/48 | €14,150 | €3,234 | -€10,916 | -77.1% |
| Accrued charges and deferred income | 492/3 | €6,300 | €6,300 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,938 | €1,938 | = | 0.0% |
| Other operating charges | 640/8 | €439 | €10,645 | +€10,206 | +2,325% |
| Gross operating margin | 9900 | €10,863 | €15,851 | +€4,988 | +45.9% |
| Operating profit (loss) | 9901 | €8,486 | €3,268 | -€5,218 | -61.5% |
| Financial income | 75/76B | €0 | €45 | +€45 | +9,487% |
| Recurring financial income | 75 | €0 | €45 | +€45 | +9,487% |
| Non-recurring financial income | 76B | €0 | €45 | +€45 | +9,487% |
| Financial charges | 65/66B | €1,629 | €585 | -€1,044 | -64.1% |
| Recurring financial charges | 65 | €1,629 | €585 | -€1,044 | -64.1% |
| Non-recurring financial charges | 66B | €1,629 | €585 | -€1,044 | -64.1% |
| Profit (loss) for the period before taxes | 9903 | €6,858 | €2,728 | -€4,129 | -60.2% |
| Income taxes | 67/77 | €1,442 | €130 | -€1,312 | -91.0% |
| Profit (loss) for the period | 9904 | €5,416 | €2,598 | -€2,817 | -52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,416 | €2,598 | -€2,817 | -52.0% |
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.