SMP: 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.
SMP
Largest movements
- Current investments +€37,002
up €37,002 (+69.4%), from €53,313 to €90,315
- Receivables within one year +€22,553
up €22,553 (+385.1%), from €5,857 to €28,410
- Cash -€13,086
down €13,086 (-11.9%), from €110,045 to €96,959
mainly Contributions, distributions and other (-€339,087) and Current investments (-€37,002)
- Tangible fixed assets -€12,803
down €12,803 (-3.0%), from €427,480 to €414,677
of which Land and buildings: -€14,656
- Deferred charges and accrued income +€9,522
up €9,522 (+9.1%), from €104,574 to €114,096
- Other debts +€312,387
up €312,387 (+1477.5%), from €21,143 to €333,530
- Reserves -€236,545
down €236,545 (-38.7%), from €611,484 to €374,939
- Debts after one year -€17,811
no longer reported in 2025 (was €17,811)
- Current portion of long-term debt -€12,575
down €12,575 (-33.2%), from €37,886 to €25,311
- Financial charges +€45,602
up €45,602 (+56.6%), from €80,585 to €126,187
- Taxes -€16,617
down €16,617 (-29.0%), from €57,310 to €40,694
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 | €701,694 | €744,882 | +€43,188 | +6.2% |
| Fixed assets | 21/28 | €427,480 | €414,677 | -€12,803 | -3.0% |
| Tangible fixed assets | 22/27 | €427,480 | €414,677 | -€12,803 | -3.0% |
| Land and buildings | 22 | €414,577 | €399,921 | -€14,656 | -3.5% |
| Plant, machinery and equipment | 23 | €582 | - | -€582 | |
| Furniture and vehicles | 24 | - | €4,663 | +€4,663 | |
| Other tangible fixed assets | 26 | €12,320 | €10,092 | -€2,228 | -18.1% |
| Current assets | 29/58 | €274,214 | €330,205 | +€55,992 | +20.4% |
| Amounts receivable after more than one year | 29 | €425 | €425 | = | 0.0% |
| Other amounts receivable | 291 | €425 | €425 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,857 | €28,410 | +€22,553 | +385.1% |
| Other amounts receivable | 41 | €5,857 | €28,410 | +€22,553 | +385.1% |
| Current investments | 50/53 | €53,313 | €90,315 | +€37,002 | +69.4% |
| Cash at bank and in hand | 54/58 | €110,045 | €96,959 | -€13,086 | -11.9% |
| Deferred charges and accrued income | 490/1 | €104,574 | €114,096 | +€9,522 | +9.1% |
| Total equity and liabilities | 10/49 | €701,694 | €744,882 | +€43,188 | +6.2% |
| Equity | 10/15 | €611,485 | €374,940 | -€236,545 | -38.7% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €611,484 | €374,939 | -€236,545 | -38.7% |
| Distributable reserves | 133 | €611,484 | €374,939 | -€236,545 | -38.7% |
| Amounts payable | 17/49 | €90,209 | €369,942 | +€279,733 | +310.1% |
| Amounts payable after more than one year | 17 | €17,811 | - | -€17,811 | |
| Financial debts | 170/4 | €17,811 | - | -€17,811 | |
| Amounts payable within one year | 42/48 | €72,098 | €369,942 | +€297,844 | +413.1% |
| Current portion of amounts payable after more than one year | 42 | €37,886 | €25,311 | -€12,575 | -33.2% |
| Trade debts | 44 | €129 | €847 | +€718 | +557.0% |
| Suppliers | 440/4 | €129 | €847 | +€718 | +557.0% |
| Taxes, remuneration and social security | 45 | €12,939 | €10,254 | -€2,685 | -20.8% |
| Taxes | 450/3 | €12,939 | €10,254 | -€2,685 | -20.8% |
| Other amounts payable | 47/48 | €21,143 | €333,530 | +€312,387 | +1477.5% |
| Accrued charges and deferred income | 492/3 | €300 | - | -€300 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,057 | €19,331 | +€1,274 | +7.1% |
| Other operating charges | 640/8 | €7,288 | €6,325 | -€963 | -13.2% |
| Gross operating margin | 9900 | €291,872 | €292,241 | +€369 | +0.1% |
| Operating profit (loss) | 9901 | €266,527 | €266,585 | +€58 | 0.0% |
| Financial income | 75/76B | €761 | €2,837 | +€2,076 | +272.6% |
| Recurring financial income | 75 | €761 | €2,837 | +€2,076 | +272.6% |
| Financial charges | 65/66B | €80,585 | €126,187 | +€45,602 | +56.6% |
| Recurring financial charges | 65 | €80,585 | €126,187 | +€45,602 | +56.6% |
| Profit (loss) for the period before taxes | 9903 | €186,704 | €143,235 | -€43,469 | -23.3% |
| Income taxes | 67/77 | €57,310 | €40,694 | -€16,617 | -29.0% |
| Profit (loss) for the period | 9904 | €129,394 | €102,542 | -€26,852 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €129,394 | €102,542 | -€26,852 | -20.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.