SMUCO: 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.
SMUCO
Largest movements
- Tangible fixed assets +€58,769
up €58,769 (+76.9%), from €76,399 to €135,168
of which Other tangible fixed assets: +€51,718
- Cash +€35,926
up €35,926 (+345.2%), from €10,408 to €46,335
mainly Debts after one year (+€56,849) and Stocks and contracts (+€35,843)
- Stocks and contracts -€35,843
down €35,843 (-4.2%), from €851,834 to €815,991
- Debts after one year +€56,849
up €56,849 (+197.0%), from €28,861 to €85,710
- Trade debts -€11,215
down €11,215 (-30.6%), from €36,639 to €25,424
- Gross operating margin +€31,330
up €31,330 (+82.3%), from €38,085 to €69,415
- Depreciation +€4,682
up €4,682 (+101.9%), from €4,596 to €9,278
- Financial charges +€3,119
up €3,119 (+45.9%), from €6,798 to €9,917
- Taxes +€2,996
up €2,996 (+614.5%), from €488 to €3,483
- Staff costs +€2,901
up €2,901 (+6.9%), from €42,133 to €45,034
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €974,365 | €1,019,597 | +€45,231 | +4.6% |
| Fixed assets | 21/28 | €76,399 | €135,168 | +€58,769 | +76.9% |
| Tangible fixed assets | 22/27 | €76,399 | €135,168 | +€58,769 | +76.9% |
| Plant, machinery and equipment | 23 | €25,997 | €25,595 | -€402 | -1.5% |
| Furniture and vehicles | 24 | €13,357 | €20,810 | +€7,452 | +55.8% |
| Other tangible fixed assets | 26 | €37,045 | €88,763 | +€51,718 | +139.6% |
| Current assets | 29/58 | €897,966 | €884,429 | -€13,538 | -1.5% |
| Stocks and contracts in progress | 3 | €851,834 | €815,991 | -€35,843 | -4.2% |
| Stocks | 30/36 | €851,834 | €815,991 | -€35,843 | -4.2% |
| Amounts receivable within one year | 40/41 | €17,770 | €9,026 | -€8,745 | -49.2% |
| Trade receivables | 40 | €14,569 | €3,963 | -€10,606 | -72.8% |
| Other amounts receivable | 41 | €3,202 | €5,063 | +€1,861 | +58.1% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €10,408 | €46,335 | +€35,926 | +345.2% |
| Deferred charges and accrued income | 490/1 | €17,954 | €13,077 | -€4,876 | -27.2% |
| Total equity and liabilities | 10/49 | €974,365 | €1,019,597 | +€45,231 | +4.6% |
| Equity | 10/15 | €513,584 | €508,076 | -€5,508 | -1.1% |
| Contributions | 10/11 | €18,700 | €18,700 | = | 0.0% |
| Reserves | 13 | €494,884 | €489,376 | -€5,508 | -1.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €494,884 | €489,376 | -€5,508 | -1.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €460,782 | €511,521 | +€50,739 | +11.0% |
| Amounts payable after more than one year | 17 | €28,861 | €85,710 | +€56,849 | +197.0% |
| Financial debts | 170/4 | €28,861 | €85,710 | +€56,849 | +197.0% |
| Amounts payable within one year | 42/48 | €431,921 | €425,811 | -€6,110 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | - | €8,160 | +€8,160 | |
| Financial debts | 43 | €5,699 | €2,084 | -€3,615 | -63.4% |
| Credit institutions | 430/8 | €5,699 | €2,084 | -€3,615 | -63.4% |
| Trade debts | 44 | €36,639 | €25,424 | -€11,215 | -30.6% |
| Suppliers | 440/4 | €36,639 | €25,424 | -€11,215 | -30.6% |
| Taxes, remuneration and social security | 45 | €63,397 | €59,892 | -€3,505 | -5.5% |
| Taxes | 450/3 | €58,477 | €53,637 | -€4,840 | -8.3% |
| Remuneration and social security | 454/9 | €4,920 | €6,255 | +€1,335 | +27.1% |
| Other amounts payable | 47/48 | €326,187 | €330,252 | +€4,065 | +1.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €42,133 | €45,034 | +€2,901 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,596 | €9,278 | +€4,682 | +101.9% |
| Other operating charges | 640/8 | €1,252 | €2,817 | +€1,565 | +125.0% |
| Gross operating margin | 9900 | €38,085 | €69,415 | +€31,330 | +82.3% |
| Operating profit (loss) | 9901 | -€9,896 | €12,285 | +€22,182 | |
| Financial income | 75/76B | €129 | €7 | -€123 | -94.7% |
| Recurring financial income | 75 | €129 | €7 | -€123 | -94.7% |
| Financial charges | 65/66B | €6,798 | €9,917 | +€3,119 | +45.9% |
| Recurring financial charges | 65 | €6,798 | €9,917 | +€3,119 | +45.9% |
| Profit (loss) for the period before taxes | 9903 | -€16,565 | €2,375 | +€18,940 | |
| Income taxes | 67/77 | €488 | €3,483 | +€2,996 | +614.5% |
| Profit (loss) for the period | 9904 | -€17,052 | -€1,108 | +€15,944 | +93.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,052 | -€1,108 | +€15,944 | +93.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.