SMTF TECHNIC: 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.
SMTF TECHNIC
Largest movements
- Tangible fixed assets -€13,685
down €13,685 (-58.6%), from €23,346 to €9,662
of which Furniture and vehicles: -€11,080
- Receivables within one year -€8,800
down €8,800 (-43.4%), from €20,259 to €11,459
of which Trade receivables: -€6,590
- Cash -€7,160
down €7,160 (-15.3%), from €46,814 to €39,654
mainly Net result for the year (-€12,601) and Trade debts (-€5,049)
- Intangible fixed assets +€2,953
new in 2025: €2,953
- Profit (loss) carried forward -€12,601
down €12,601 (-26.0%), from €48,471 to €35,870
- Trade debts -€5,049
no longer reported in 2025 (was €5,049)
- Current portion of long-term debt -€4,179
down €4,179 (-91.6%), from €4,562 to €383
- Other debts -€3,691
down €3,691 (-19.3%), from €19,167 to €15,476
- Tax, wage and social debts -€1,000
no longer reported in 2025 (was €1,000)
- Gross operating margin -€46,094
down €46,094 (-94.0%), from €49,051 to €2,958
- Taxes +€1,318
up €1,318 (+278.0%), from €474 to €1,792
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 | €90,632 | €63,728 | -€26,903 | -29.7% |
| Formation expenses | 20 | €213 | - | -€213 | |
| Fixed assets | 21/28 | €23,346 | €12,615 | -€10,731 | -46.0% |
| Intangible fixed assets | 21 | - | €2,953 | +€2,953 | |
| Tangible fixed assets | 22/27 | €23,346 | €9,662 | -€13,685 | -58.6% |
| Plant, machinery and equipment | 23 | €7,634 | €5,030 | -€2,604 | -34.1% |
| Furniture and vehicles | 24 | €15,712 | €4,632 | -€11,080 | -70.5% |
| Current assets | 29/58 | €67,073 | €51,113 | -€15,959 | -23.8% |
| Amounts receivable within one year | 40/41 | €20,259 | €11,459 | -€8,800 | -43.4% |
| Trade receivables | 40 | €7,800 | €1,210 | -€6,590 | -84.5% |
| Other amounts receivable | 41 | €12,459 | €10,249 | -€2,209 | -17.7% |
| Cash at bank and in hand | 54/58 | €46,814 | €39,654 | -€7,160 | -15.3% |
| Total equity and liabilities | 10/49 | €90,632 | €63,728 | -€26,903 | -29.7% |
| Equity | 10/15 | €60,471 | €47,870 | -€12,601 | -20.8% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,471 | €35,870 | -€12,601 | -26.0% |
| Amounts payable | 17/49 | €30,160 | €15,859 | -€14,302 | -47.4% |
| Amounts payable after more than one year | 17 | €383 | - | -€383 | |
| Financial debts | 170/4 | €383 | - | -€383 | |
| Amounts payable within one year | 42/48 | €29,778 | €15,859 | -€13,919 | -46.7% |
| Current portion of amounts payable after more than one year | 42 | €4,562 | €383 | -€4,179 | -91.6% |
| Trade debts | 44 | €5,049 | - | -€5,049 | |
| Suppliers | 440/4 | €5,049 | - | -€5,049 | |
| Taxes, remuneration and social security | 45 | €1,000 | - | -€1,000 | |
| Taxes | 450/3 | €1,000 | - | -€1,000 | |
| Other amounts payable | 47/48 | €19,167 | €15,476 | -€3,691 | -19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,441 | €13,096 | -€345 | -2.6% |
| Other operating charges | 640/8 | €303 | €511 | +€207 | +68.5% |
| Gross operating margin | 9900 | €49,051 | €2,958 | -€46,094 | -94.0% |
| Operating profit (loss) | 9901 | €35,307 | -€10,649 | -€45,956 | |
| Financial income | 75/76B | €3 | €3 | -€1 | -17.7% |
| Recurring financial income | 75 | €3 | €3 | -€1 | -17.7% |
| Financial charges | 65/66B | €389 | €164 | -€225 | -57.9% |
| Recurring financial charges | 65 | €389 | €164 | -€225 | -57.9% |
| Profit (loss) for the period before taxes | 9903 | €34,921 | -€10,810 | -€45,731 | |
| Income taxes | 67/77 | €474 | €1,792 | +€1,318 | +278.0% |
| Profit (loss) for the period | 9904 | €34,447 | -€12,601 | -€47,049 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,447 | -€12,601 | -€47,049 |
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 8 October 2026 via checked.be.