SMN ANTWERPEN: 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.
SMN ANTWERPEN
Largest movements
- Receivables within one year +€170,535
up €170,535 (+10.1%), from €1.7m to €1.9m
- Tangible fixed assets -€126,322
down €126,322 (-96.8%), from €130,526 to €4,204
of which Other tangible fixed assets: -€124,994
- Financial fixed assets -€45,000
down €45,000 (-11.3%), from €398,000 to €353,000
- Deferred charges and accrued income -€39,335
down €39,335 (-89.1%), from €44,170 to €4,835
- Debts after one year -€300,000
down €300,000 (-15.8%), from €1.9m to €1.6m
- Other debts +€274,037
new in 2025: €274,037
- Gross operating margin -€87,515
down €87,515 (-98.4%), from €88,947 to €1,432
- Write-downs -€60,000
down €60,000 (-60.0%), from €100,000 to €40,000
- Financial income -€23,723
down €23,723 (-34.3%), from €69,063 to €45,340
- Financial charges -€17,710
down €17,710 (-63.3%), from €27,995 to €10,285
- Depreciation -€2,354
down €2,354 (-63.9%), from €3,682 to €1,328
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 | €2,258,665 | €2,218,522 | -€40,143 | -1.8% |
| Fixed assets | 21/28 | €528,526 | €357,204 | -€171,322 | -32.4% |
| Tangible fixed assets | 22/27 | €130,526 | €4,204 | -€126,322 | -96.8% |
| Furniture and vehicles | 24 | €5,532 | €4,204 | -€1,328 | -24.0% |
| Other tangible fixed assets | 26 | €124,994 | - | -€124,994 | |
| Financial fixed assets | 28 | €398,000 | €353,000 | -€45,000 | -11.3% |
| Current assets | 29/58 | €1,730,139 | €1,861,318 | +€131,179 | +7.6% |
| Amounts receivable within one year | 40/41 | €1,685,572 | €1,856,107 | +€170,535 | +10.1% |
| Other amounts receivable | 41 | €1,685,572 | €1,856,107 | +€170,535 | +10.1% |
| Cash at bank and in hand | 54/58 | €397 | €376 | -€21 | -5.3% |
| Deferred charges and accrued income | 490/1 | €44,170 | €4,835 | -€39,335 | -89.1% |
| Total equity and liabilities | 10/49 | €2,258,665 | €2,218,522 | -€40,143 | -1.8% |
| Equity | 10/15 | €345,112 | €331,691 | -€13,421 | -3.9% |
| Contributions | 10/11 | €320,000 | €320,000 | = | 0.0% |
| Reserves | 13 | €25,112 | €10,112 | -€15,000 | -59.7% |
| Non-distributable reserves | 130/1 | €2,050 | €2,050 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,050 | €2,050 | = | 0.0% |
| Distributable reserves | 133 | €23,062 | €8,062 | -€15,000 | -65.0% |
| Profit (loss) carried forward | 14 | - | €1,579 | +€1,579 | |
| Amounts payable | 17/49 | €1,913,553 | €1,886,831 | -€26,722 | -1.4% |
| Amounts payable after more than one year | 17 | €1,900,223 | €1,600,223 | -€300,000 | -15.8% |
| Financial debts | 170/4 | €1,900,223 | €1,600,223 | -€300,000 | -15.8% |
| Amounts payable within one year | 42/48 | €13,330 | €286,608 | +€273,278 | +2050.1% |
| Trade debts | 44 | €10,315 | €3,053 | -€7,262 | -70.4% |
| Suppliers | 440/4 | €10,315 | €3,053 | -€7,262 | -70.4% |
| Taxes, remuneration and social security | 45 | €3,015 | €9,518 | +€6,503 | +215.7% |
| Taxes | 450/3 | €3,015 | €9,518 | +€6,503 | +215.7% |
| Other amounts payable | 47/48 | - | €274,037 | +€274,037 | |
| Non-recurring operating income | 76A | €153,557 | €34,970 | -€118,587 | -77.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,682 | €1,328 | -€2,354 | -63.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €100,000 | €40,000 | -€60,000 | -60.0% |
| Other operating charges | 640/8 | €7,644 | €7,930 | +€286 | +3.7% |
| Gross operating margin | 9900 | €88,947 | €1,432 | -€87,515 | -98.4% |
| Operating profit (loss) | 9901 | -€22,379 | -€47,826 | -€25,447 | -113.7% |
| Financial income | 75/76B | €69,063 | €45,340 | -€23,723 | -34.3% |
| Recurring financial income | 75 | €69,063 | €45,340 | -€23,723 | -34.3% |
| Financial charges | 65/66B | €27,995 | €10,285 | -€17,710 | -63.3% |
| Recurring financial charges | 65 | €27,995 | €10,285 | -€17,710 | -63.3% |
| Profit (loss) for the period before taxes | 9903 | €18,689 | -€12,771 | -€31,460 | |
| Income taxes | 67/77 | €691 | €650 | -€41 | -5.9% |
| Profit (loss) for the period | 9904 | €17,998 | -€13,421 | -€31,419 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,998 | -€13,421 | -€31,419 |
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 11 October 2026 via checked.be.