SMT-CONSTRUCT: what changed
Two fiscal 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.
SMT-CONSTRUCT
Largest movements
- Cash -€44,635
down €44,635 (-34.3%), from €130,068 to €85,432
mainly Other debts (-€45,895) and Debts after one year (-€17,478)
- Tangible fixed assets -€22,189
down €22,189 (-5.0%), from €440,221 to €418,032
of which Land and buildings: -€22,000
- Receivables within one year -€15,255
down €15,255 (-10.5%), from €145,682 to €130,426
of which Other amounts receivable: -€27,727
- Other debts -€45,895
down €45,895 (-48.7%), from €94,295 to €48,400
- Debts after one year -€17,478
down €17,478 (-5.3%), from €331,506 to €314,028
- Tax, wage and social debts -€17,212
down €17,212 (-42.7%), from €40,276 to €23,064
- Gross operating margin -€233,480
down €233,480 (-82.7%), from €282,396 to €48,916
- Taxes -€53,540
down €53,540 (-95.3%), from €56,207 to €2,667
- Depreciation +€21,145
up €21,145 (+2025.4%), from €1,044 to €22,189
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 | €726,905 | €647,627 | -€79,278 | -10.9% |
| Fixed assets | 21/28 | €447,722 | €425,534 | -€22,188 | -5.0% |
| Tangible fixed assets | 22/27 | €440,221 | €418,032 | -€22,189 | -5.0% |
| Land and buildings | 22 | €439,940 | €417,940 | -€22,000 | -5.0% |
| Plant, machinery and equipment | 23 | €93 | €36 | -€58 | -61.9% |
| Furniture and vehicles | 24 | €188 | €56 | -€132 | -70.0% |
| Financial fixed assets | 28 | €7,501 | €7,502 | +€1 | 0.0% |
| Current assets | 29/58 | €279,183 | €222,093 | -€57,090 | -20.4% |
| Stocks and contracts in progress | 3 | €0 | €750 | +€750 | |
| Stocks | 30/36 | €0 | €750 | +€750 | |
| Amounts receivable within one year | 40/41 | €145,682 | €130,426 | -€15,255 | -10.5% |
| Trade receivables | 40 | €60,568 | €73,040 | +€12,472 | +20.6% |
| Other amounts receivable | 41 | €85,113 | €57,386 | -€27,727 | -32.6% |
| Cash at bank and in hand | 54/58 | €130,068 | €85,432 | -€44,635 | -34.3% |
| Deferred charges and accrued income | 490/1 | €3,434 | €5,485 | +€2,051 | +59.7% |
| Total equity and liabilities | 10/49 | €726,905 | €647,627 | -€79,278 | -10.9% |
| Equity | 10/15 | €234,504 | €239,649 | +€5,145 | +2.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €231,504 | €236,649 | +€5,145 | +2.2% |
| Distributable reserves | 133 | €231,504 | €236,649 | +€5,145 | +2.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €492,401 | €407,978 | -€84,423 | -17.1% |
| Amounts payable after more than one year | 17 | €331,506 | €314,028 | -€17,478 | -5.3% |
| Financial debts | 170/4 | €331,506 | €314,028 | -€17,478 | -5.3% |
| Amounts payable within one year | 42/48 | €158,431 | €90,767 | -€67,664 | -42.7% |
| Current portion of amounts payable after more than one year | 42 | €18,494 | €19,042 | +€548 | +3.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €5,367 | €262 | -€5,105 | -95.1% |
| Suppliers | 440/4 | €5,367 | €262 | -€5,105 | -95.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €40,276 | €23,064 | -€17,212 | -42.7% |
| Taxes | 450/3 | €40,276 | €23,064 | -€17,212 | -42.7% |
| Other amounts payable | 47/48 | €94,295 | €48,400 | -€45,895 | -48.7% |
| Accrued charges and deferred income | 492/3 | €2,464 | €3,182 | +€719 | +29.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,044 | €22,189 | +€21,145 | +2025.4% |
| Other operating charges | 640/8 | €1,225 | €1,271 | +€46 | +3.8% |
| Gross operating margin | 9900 | €282,396 | €48,916 | -€233,480 | -82.7% |
| Operating profit (loss) | 9901 | €280,127 | €25,455 | -€254,672 | -90.9% |
| Financial income | 75/76B | €2,009 | €248 | -€1,761 | -87.7% |
| Recurring financial income | 75 | €2,009 | €248 | -€1,761 | -87.7% |
| Financial charges | 65/66B | €19,961 | €17,892 | -€2,069 | -10.4% |
| Recurring financial charges | 65 | €19,961 | €17,892 | -€2,069 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €262,174 | €7,811 | -€254,363 | -97.0% |
| Income taxes | 67/77 | €56,207 | €2,667 | -€53,540 | -95.3% |
| Profit (loss) for the period | 9904 | €205,967 | €5,145 | -€200,823 | -97.5% |
| Profit (loss) for the period to be appropriated | 9905 | €205,967 | €5,145 | -€200,823 | -97.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.