SRL SMITHY: 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.
SRL SMITHY
Largest movements
- Cash -€34,733
down €34,733 (-34.4%), from €101,054 to €66,321
mainly Investment in fixed assets (net) (-€66,656) and Net result for the year (-€51,697)
- Tangible fixed assets +€28,888
up €28,888 (+6.2%), from €462,808 to €491,696
of which Land and buildings: +€38,897
- Deferred charges and accrued income +€24,286
up €24,286 (+599%), from €4,052 to €28,338
- Receivables within one year -€21,030
down €21,030 (-56.6%), from €37,132 to €16,102
of which Trade receivables: -€19,849
- Profit (loss) carried forward -€51,697
down €51,697 (-148%), from -€34,915 to -€86,612
- Debts after one year +€38,773
up €38,773 (+8.2%), from €474,043 to €512,815
- Accrued charges and deferred income +€25,003
up €25,003 (+3,886%), from €643 to €25,646
- Trade debts -€11,550
down €11,550 (-25.7%), from €44,889 to €33,339
- Other debts -€7,442
down €7,442 (-99.9%), from €7,448 to €7
- Gross operating margin -€65,946
down €65,946 (-30.9%), from €213,275 to €147,329
- Staff costs -€17,873
down €17,873 (-11.4%), from €157,429 to €139,555
- Depreciation +€4,104
up €4,104 (+12.0%), from €34,111 to €38,215
- Other operating charges +€3,200
up €3,200 (+60.9%), from €5,255 to €8,455
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 | €617,912 | €612,897 | -€5,015 | -0.8% |
| Formation expenses | 20 | €2,422 | €1,975 | -€447 | -18.5% |
| Fixed assets | 21/28 | €463,130 | €492,018 | +€28,888 | +6.2% |
| Tangible fixed assets | 22/27 | €462,808 | €491,696 | +€28,888 | +6.2% |
| Land and buildings | 22 | €402,117 | €441,015 | +€38,897 | +9.7% |
| Plant, machinery and equipment | 23 | €35,386 | €29,620 | -€5,766 | -16.3% |
| Furniture and vehicles | 24 | €25,304 | €21,061 | -€4,244 | -16.8% |
| Financial fixed assets | 28 | €322 | €322 | = | 0.0% |
| Current assets | 29/58 | €152,360 | €118,904 | -€33,456 | -22.0% |
| Stocks and contracts in progress | 3 | €10,122 | €8,143 | -€1,979 | -19.5% |
| Stocks | 30/36 | €10,122 | €8,143 | -€1,979 | -19.5% |
| Amounts receivable within one year | 40/41 | €37,132 | €16,102 | -€21,030 | -56.6% |
| Trade receivables | 40 | €19,849 | - | -€19,849 | |
| Other amounts receivable | 41 | €17,283 | €16,102 | -€1,181 | -6.8% |
| Cash at bank and in hand | 54/58 | €101,054 | €66,321 | -€34,733 | -34.4% |
| Deferred charges and accrued income | 490/1 | €4,052 | €28,338 | +€24,286 | +599% |
| Total equity and liabilities | 10/49 | €617,912 | €612,897 | -€5,015 | -0.8% |
| Equity | 10/15 | €10,085 | -€41,612 | -€51,697 | |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,915 | -€86,612 | -€51,697 | -148% |
| Amounts payable | 17/49 | €607,827 | €654,509 | +€46,682 | +7.7% |
| Amounts payable after more than one year | 17 | €474,043 | €512,815 | +€38,773 | +8.2% |
| Financial debts | 170/4 | €474,043 | €512,815 | +€38,773 | +8.2% |
| Amounts payable within one year | 42/48 | €133,141 | €116,048 | -€17,093 | -12.8% |
| Current portion of amounts payable after more than one year | 42 | €42,823 | €40,828 | -€1,995 | -4.7% |
| Trade debts | 44 | €44,889 | €33,339 | -€11,550 | -25.7% |
| Suppliers | 440/4 | €44,889 | €33,339 | -€11,550 | -25.7% |
| Taxes, remuneration and social security | 45 | €37,981 | €41,874 | +€3,894 | +10.3% |
| Taxes | 450/3 | €20,669 | €20,263 | -€406 | -2.0% |
| Remuneration and social security | 454/9 | €17,312 | €21,612 | +€4,300 | +24.8% |
| Other amounts payable | 47/48 | €7,448 | €7 | -€7,442 | -99.9% |
| Accrued charges and deferred income | 492/3 | €643 | €25,646 | +€25,003 | +3,886% |
| Remuneration, social security and pensions | 62 | €157,429 | €139,555 | -€17,873 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,111 | €38,215 | +€4,104 | +12.0% |
| Other operating charges | 640/8 | €5,255 | €8,455 | +€3,200 | +60.9% |
| Gross operating margin | 9900 | €213,275 | €147,329 | -€65,946 | -30.9% |
| Operating profit (loss) | 9901 | €16,480 | -€38,896 | -€55,376 | |
| Financial charges | 65/66B | €10,861 | €12,373 | +€1,512 | +13.9% |
| Recurring financial charges | 65 | €10,861 | €12,373 | +€1,512 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | €5,619 | -€51,269 | -€56,888 | |
| Income taxes | 67/77 | €435 | €428 | -€8 | -1.8% |
| Profit (loss) for the period | 9904 | €5,184 | -€51,697 | -€56,881 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,184 | -€51,697 | -€56,881 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.