SMPS: 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.
SMPS
Largest movements
- Stocks and contracts +€3,697
up €3,697 (+27.5%), from €13,466 to €17,163
- Receivables within one year -€1,290
down €1,290 (-56.1%), from €2,301 to €1,011
of which Other amounts receivable: -€1,290
- Cash -€942
down €942 (-97.0%), from €971 to €29
mainly Stocks and contracts (-€3,697) and Net result for the year (-€3,584)
- Other debts +€7,620
up €7,620 (+33.8%), from €22,524 to €30,144
- Profit (loss) carried forward -€3,584
down €3,584 (-12.8%), from -€27,891 to -€31,475
- Trade debts -€3,393
down €3,393 (-87.9%), from €3,862 to €468
- Short-term financial debts +€706
up €706, from €0 to €706
- Gross operating margin -€5,061
down €5,061, from €4,686 to -€375
- Other operating charges -€879
down €879 (-27.5%), from €3,197 to €2,318
- Financial charges +€519
up €519 (+265.7%), from €195 to €714
- Taxes +€117
up €117 (+197.0%), from €59 to €176
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 | €19,737 | €21,203 | +€1,466 | +7.4% |
| Fixed assets | 21/28 | €3,000 | €3,000 | = | 0.0% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €16,737 | €18,203 | +€1,466 | +8.8% |
| Stocks and contracts in progress | 3 | €13,466 | €17,163 | +€3,697 | +27.5% |
| Stocks | 30/36 | €13,466 | €17,163 | +€3,697 | +27.5% |
| Amounts receivable within one year | 40/41 | €2,301 | €1,011 | -€1,290 | -56.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €2,301 | €1,011 | -€1,290 | -56.1% |
| Cash at bank and in hand | 54/58 | €971 | €29 | -€942 | -97.0% |
| Total equity and liabilities | 10/49 | €19,737 | €21,203 | +€1,466 | +7.4% |
| Equity | 10/15 | -€7,903 | -€11,487 | -€3,584 | -45.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,388 | €1,388 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,388 | €1,388 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,388 | €1,388 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,891 | -€31,475 | -€3,584 | -12.8% |
| Amounts payable | 17/49 | €27,640 | €32,690 | +€5,050 | +18.3% |
| Amounts payable within one year | 42/48 | €27,640 | €32,690 | +€5,050 | +18.3% |
| Financial debts | 43 | €0 | €706 | +€706 | |
| Credit institutions | 430/8 | €0 | €706 | +€706 | |
| Trade debts | 44 | €3,862 | €468 | -€3,393 | -87.9% |
| Suppliers | 440/4 | €3,862 | €468 | -€3,393 | -87.9% |
| Taxes, remuneration and social security | 45 | €1,254 | €1,371 | +€117 | +9.3% |
| Taxes | 450/3 | €1,254 | €1,371 | +€117 | +9.3% |
| Other amounts payable | 47/48 | €22,524 | €30,144 | +€7,620 | +33.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €3,197 | €2,318 | -€879 | -27.5% |
| Gross operating margin | 9900 | €4,686 | -€375 | -€5,061 | |
| Operating profit (loss) | 9901 | €1,488 | -€2,694 | -€4,182 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €195 | €714 | +€519 | +265.7% |
| Recurring financial charges | 65 | €195 | €714 | +€519 | +265.7% |
| Profit (loss) for the period before taxes | 9903 | €1,293 | -€3,408 | -€4,701 | |
| Income taxes | 67/77 | €59 | €176 | +€117 | +197.0% |
| Profit (loss) for the period | 9904 | €1,234 | -€3,584 | -€4,818 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,234 | -€3,584 | -€4,818 |
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.