SMT SERVICES: 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 SERVICES
Largest movements
- Receivables within one year +€32,699
up €32,699 (+157%), from €20,857 to €53,556
of which Trade receivables: +€39,355
- Tangible fixed assets +€31,608
up €31,608 (+49.2%), from €64,186 to €95,794
of which Furniture and vehicles: +€32,620
- Cash +€3,613
up €3,613 (+46.7%), from €7,737 to €11,351
mainly Net result for the year (+€27,518) and Tax, wage and social debts (+€24,151)
- Reserves +€27,518
new in 2025: €27,518
- Tax, wage and social debts +€24,151
up €24,151 (+381%), from €6,346 to €30,497
of which Taxes: +€22,020
- Current portion of long-term debt +€14,011
up €14,011 (+126%), from €11,077 to €25,088
- Other debts -€11,651
down €11,651 (-35.2%), from €33,103 to €21,451
- Debts after one year +€10,384
up €10,384 (+43.4%), from €23,923 to €34,307
- Gross operating margin +€93,879
up €93,879 (+283%), from €33,148 to €127,027
- Staff costs +€36,287
new in 2025: €36,287
- Taxes +€14,229
up €14,229 (+633%), from €2,246 to €16,476
- Depreciation +€10,341
up €10,341 (+86.0%), from €12,028 to €22,369
- Other operating charges +€8,996
up €8,996 (+86.2%), from €10,434 to €19,430
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 | €93,049 | €161,416 | +€68,367 | +73.5% |
| Fixed assets | 21/28 | €64,186 | €95,794 | +€31,608 | +49.2% |
| Tangible fixed assets | 22/27 | €64,186 | €95,794 | +€31,608 | +49.2% |
| Plant, machinery and equipment | 23 | €1,604 | €593 | -€1,012 | -63.1% |
| Furniture and vehicles | 24 | €62,582 | €95,202 | +€32,620 | +52.1% |
| Current assets | 29/58 | €28,863 | €65,622 | +€36,759 | +127% |
| Amounts receivable within one year | 40/41 | €20,857 | €53,556 | +€32,699 | +157% |
| Trade receivables | 40 | €14,201 | €53,556 | +€39,355 | +277% |
| Other amounts receivable | 41 | €6,656 | - | -€6,656 | |
| Cash at bank and in hand | 54/58 | €7,737 | €11,351 | +€3,613 | +46.7% |
| Deferred charges and accrued income | 490/1 | €269 | €716 | +€447 | +166% |
| Total equity and liabilities | 10/49 | €93,049 | €161,416 | +€68,367 | +73.5% |
| Equity | 10/15 | €18,600 | €46,118 | +€27,518 | +148% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €27,518 | +€27,518 | |
| Distributable reserves | 133 | - | €27,518 | +€27,518 | |
| Amounts payable | 17/49 | €74,449 | €115,298 | +€40,850 | +54.9% |
| Amounts payable after more than one year | 17 | €23,923 | €34,307 | +€10,384 | +43.4% |
| Financial debts | 170/4 | €23,923 | €34,307 | +€10,384 | +43.4% |
| Amounts payable within one year | 42/48 | €50,526 | €80,991 | +€30,465 | +60.3% |
| Current portion of amounts payable after more than one year | 42 | €11,077 | €25,088 | +€14,011 | +126% |
| Trade debts | 44 | - | €3,955 | +€3,955 | |
| Suppliers | 440/4 | - | €3,955 | +€3,955 | |
| Taxes, remuneration and social security | 45 | €6,346 | €30,497 | +€24,151 | +381% |
| Taxes | 450/3 | €4,846 | €26,867 | +€22,020 | +454% |
| Remuneration and social security | 454/9 | €1,500 | €3,631 | +€2,131 | +142% |
| Other amounts payable | 47/48 | €33,103 | €21,451 | -€11,651 | -35.2% |
| Remuneration, social security and pensions | 62 | - | €36,287 | +€36,287 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,028 | €22,369 | +€10,341 | +86.0% |
| Other operating charges | 640/8 | €10,434 | €19,430 | +€8,996 | +86.2% |
| Non-recurring operating charges | 66A | - | €1,916 | +€1,916 | |
| Gross operating margin | 9900 | €33,148 | €127,027 | +€93,879 | +283% |
| Operating profit (loss) | 9901 | €10,686 | €47,024 | +€36,339 | +340% |
| Financial income | 75/76B | €302 | €0 | -€302 | -100.0% |
| Recurring financial income | 75 | €302 | €0 | -€302 | -100.0% |
| Financial charges | 65/66B | €631 | €3,031 | +€2,401 | +381% |
| Recurring financial charges | 65 | €631 | €3,031 | +€2,401 | +381% |
| Profit (loss) for the period before taxes | 9903 | €10,357 | €43,993 | +€33,636 | +325% |
| Income taxes | 67/77 | €2,246 | €16,476 | +€14,229 | +633% |
| Profit (loss) for the period | 9904 | €8,111 | €27,518 | +€19,406 | +239% |
| Profit (loss) for the period to be appropriated | 9905 | €8,111 | €27,518 | +€19,406 | +239% |
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 19 October 2026 via checked.be.