SMT-MED: 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.
SMT-MED
Largest movements
- Cash +€38,935
up €38,935 (+659%), from €5,905 to €44,840
mainly Net result for the year (+€59,751) and Tax, wage and social debts (+€18,138)
- Receivables within one year +€25,833
up €25,833 (+305%), from €8,468 to €34,301
of which Other amounts receivable: +€25,864
- Profit (loss) carried forward +€59,751
up €59,751 (+2,088%), from €2,862 to €62,613
- Tax, wage and social debts +€18,138
up €18,138 (+1,104%), from €1,643 to €19,781
of which Taxes: +€16,488
- Other debts -€15,000
no longer reported in 2025 (was €15,000)
- Contributions +€7,920
up €7,920 (+396%), from €2,000 to €9,920
of which Capital: +€7,920
- Trade debts -€6,399
no longer reported in 2025 (was €6,399)
- Gross operating margin +€50,118
up €50,118 (+175%), from €28,681 to €78,799
- Taxes +€14,988
up €14,988 (+835%), from €1,796 to €16,784
- Depreciation -€5,626
down €5,626 (-90.4%), from €6,226 to €600
- Staff costs -€960
down €960 (-50.0%), from €1,920 to €960
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 | €28,147 | €92,315 | +€64,168 | +228% |
| Fixed assets | 21/28 | €13,774 | €13,174 | -€600 | -4.4% |
| Tangible fixed assets | 22/27 | €13,774 | €13,174 | -€600 | -4.4% |
| Plant, machinery and equipment | 23 | €3,733 | €3,583 | -€150 | -4.0% |
| Furniture and vehicles | 24 | €10,041 | €9,591 | -€450 | -4.5% |
| Current assets | 29/58 | €14,373 | €79,141 | +€64,768 | +451% |
| Amounts receivable within one year | 40/41 | €8,468 | €34,301 | +€25,833 | +305% |
| Trade receivables | 40 | €350 | €320 | -€30 | -8.7% |
| Other amounts receivable | 41 | €8,117 | €33,981 | +€25,864 | +319% |
| Cash at bank and in hand | 54/58 | €5,905 | €44,840 | +€38,935 | +659% |
| Total equity and liabilities | 10/49 | €28,147 | €92,315 | +€64,168 | +228% |
| Equity | 10/15 | €4,862 | €72,534 | +€67,672 | +1,392% |
| Contributions | 10/11 | €2,000 | €9,920 | +€7,920 | +396% |
| Capital | 10 | - | €7,920 | +€7,920 | |
| Issued capital | 100 | - | €7,920 | +€7,920 | |
| Contributions outside capital | 11 | €2,000 | €2,000 | = | 0.0% |
| Other | 1109/19 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,862 | €62,613 | +€59,751 | +2,088% |
| Amounts payable | 17/49 | €23,284 | €19,781 | -€3,504 | -15.0% |
| Amounts payable within one year | 42/48 | €23,284 | €19,781 | -€3,504 | -15.0% |
| Financial debts | 43 | €243 | - | -€243 | |
| Credit institutions | 430/8 | €243 | - | -€243 | |
| Trade debts | 44 | €6,399 | - | -€6,399 | |
| Suppliers | 440/4 | €6,399 | - | -€6,399 | |
| Taxes, remuneration and social security | 45 | €1,643 | €19,781 | +€18,138 | +1,104% |
| Taxes | 450/3 | €1,643 | €18,131 | +€16,488 | +1,004% |
| Remuneration and social security | 454/9 | - | €1,650 | +€1,650 | |
| Other amounts payable | 47/48 | €15,000 | - | -€15,000 | |
| Remuneration, social security and pensions | 62 | €1,920 | €960 | -€960 | -50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,226 | €600 | -€5,626 | -90.4% |
| Other operating charges | 640/8 | €648 | €633 | -€16 | -2.4% |
| Gross operating margin | 9900 | €28,681 | €78,799 | +€50,118 | +175% |
| Operating profit (loss) | 9901 | €19,887 | €76,606 | +€56,720 | +285% |
| Financial income | 75/76B | - | €11 | +€11 | |
| Recurring financial income | 75 | - | €11 | +€11 | |
| Financial charges | 65/66B | €229 | €82 | -€147 | -64.2% |
| Recurring financial charges | 65 | €229 | €82 | -€147 | -64.2% |
| Profit (loss) for the period before taxes | 9903 | €19,658 | €76,535 | +€56,877 | +289% |
| Income taxes | 67/77 | €1,796 | €16,784 | +€14,988 | +835% |
| Profit (loss) for the period | 9904 | €17,862 | €59,751 | +€41,889 | +235% |
| Profit (loss) for the period to be appropriated | 9905 | €17,862 | €59,751 | +€41,889 | +235% |
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 25 October 2026 via checked.be.