SMOUTS M.: 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.
SMOUTS M.
Largest movements
- Tangible fixed assets -€42,446
down €42,446 (-4.0%), from €1.1m to €1.0m
of which Land and buildings: -€42,446
- Short-term financial debts -€213,500
no longer reported in 2025 (was €213,500)
- Debts after one year +€162,346
up €162,346 (+27.7%), from €585,139 to €747,485
of which Financial debts: +€162,346
- Other debts +€18,976
up €18,976 (+30.8%), from €61,600 to €80,576
- Gross operating margin +€10,569
up €10,569 (+13.8%), from €76,508 to €87,077
- Taxes +€3,143
up €3,143 (+85.5%), from €3,676 to €6,819
- Financial charges -€1,408
down €1,408 (-3.7%), from €38,432 to €37,023
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 | €1,315,742 | €1,274,822 | -€40,920 | -3.1% |
| Fixed assets | 21/28 | €1,071,842 | €1,029,396 | -€42,446 | -4.0% |
| Tangible fixed assets | 22/27 | €1,071,842 | €1,029,396 | -€42,446 | -4.0% |
| Land and buildings | 22 | €928,638 | €886,192 | -€42,446 | -4.6% |
| Furniture and vehicles | 24 | €143,204 | €143,204 | = | 0.0% |
| Current assets | 29/58 | €243,900 | €245,427 | +€1,526 | +0.6% |
| Amounts receivable within one year | 40/41 | €233,588 | €227,174 | -€6,414 | -2.7% |
| Trade receivables | 40 | €12,000 | €2,000 | -€10,000 | -83.3% |
| Other amounts receivable | 41 | €221,588 | €225,174 | +€3,586 | +1.6% |
| Cash at bank and in hand | 54/58 | €4,713 | €5,947 | +€1,234 | +26.2% |
| Deferred charges and accrued income | 490/1 | €5,599 | €12,306 | +€6,707 | +120% |
| Total equity and liabilities | 10/49 | €1,315,742 | €1,274,822 | -€40,920 | -3.1% |
| Equity | 10/15 | €348,722 | €354,632 | +€5,911 | +1.7% |
| Contributions | 10/11 | €137,100 | €137,100 | = | 0.0% |
| Reserves | 13 | €211,622 | €217,532 | +€5,911 | +2.8% |
| Tax-exempt reserves | 132 | €44,321 | €42,211 | -€2,111 | -4.8% |
| Distributable reserves | 133 | €167,300 | €175,322 | +€8,021 | +4.8% |
| Provisions and deferred taxes | 16 | €18,617 | €17,731 | -€887 | -4.8% |
| Deferred taxes | 168 | €18,617 | €17,731 | -€887 | -4.8% |
| Amounts payable | 17/49 | €948,404 | €902,459 | -€45,944 | -4.8% |
| Amounts payable after more than one year | 17 | €585,139 | €747,485 | +€162,346 | +27.7% |
| Financial debts | 170/4 | €582,739 | €745,085 | +€162,346 | +27.9% |
| Other amounts payable | 178/9 | €2,400 | €2,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €347,084 | €137,406 | -€209,678 | -60.4% |
| Current portion of amounts payable after more than one year | 42 | €63,725 | €55,875 | -€7,850 | -12.3% |
| Financial debts | 43 | €213,500 | - | -€213,500 | |
| Credit institutions | 430/8 | €213,500 | - | -€213,500 | |
| Trade debts | 44 | €8,259 | €956 | -€7,303 | -88.4% |
| Suppliers | 440/4 | €8,259 | €956 | -€7,303 | -88.4% |
| Other amounts payable | 47/48 | €61,600 | €80,576 | +€18,976 | +30.8% |
| Accrued charges and deferred income | 492/3 | €16,181 | €17,568 | +€1,387 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,500 | €42,446 | -€53 | -0.1% |
| Other operating charges | 640/8 | €6,388 | €6,434 | +€46 | +0.7% |
| Gross operating margin | 9900 | €76,508 | €87,077 | +€10,569 | +13.8% |
| Operating profit (loss) | 9901 | €27,620 | €38,197 | +€10,577 | +38.3% |
| Financial income | 75/76B | €10,433 | €10,670 | +€237 | +2.3% |
| Recurring financial income | 75 | €10,433 | €10,670 | +€237 | +2.3% |
| Financial charges | 65/66B | €38,432 | €37,023 | -€1,408 | -3.7% |
| Recurring financial charges | 65 | €38,432 | €37,023 | -€1,408 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | -€379 | €11,843 | +€12,222 | |
| Transfer from deferred taxes | 780 | €887 | €887 | = | 0.0% |
| Income taxes | 67/77 | €3,676 | €6,819 | +€3,143 | +85.5% |
| Profit (loss) for the period | 9904 | -€3,169 | €5,911 | +€9,080 | |
| Transfer from tax-exempt reserves | 789 | €2,111 | €2,111 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,058 | €8,021 | +€9,080 |
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 20 October 2026 via checked.be.