SMETS & CO: 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.
SMETS & CO
Largest movements
- Receivables within one year +€5,060
up €5,060 (+130.1%), from €3,889 to €8,949
of which Other amounts receivable: +€8,859
- Cash +€4,162
up €4,162 (+53.9%), from €7,720 to €11,882
mainly Net result for the year (+€8,861) and Depreciation (+€7,231)
- Tangible fixed assets -€3,260
down €3,260 (-14.7%), from €22,249 to €18,988
of which Leasing and similar rights: -€4,863
- Deferred charges and accrued income -€831
down €831 (-55.1%), from €1,508 to €677
- Profit (loss) carried forward +€8,861
up €8,861 (+48.2%), from -€18,390 to -€9,529
- Debts after one year -€5,460
down €5,460 (-72.4%), from €7,539 to €2,079
- Tax, wage and social debts +€3,425
up €3,425 (+23.8%), from €14,368 to €17,793
of which Taxes: +€2,687
- Trade debts -€2,950
down €2,950 (-70.1%), from €4,207 to €1,257
- Other debts +€661
new in 2025: €661
- Gross operating margin +€5,926
up €5,926 (+10.5%), from €56,564 to €62,490
- Staff costs -€2,123
down €2,123 (-5.1%), from €41,855 to €39,732
- Taxes +€1,232
up €1,232 (+38.1%), from €3,229 to €4,461
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 | €41,820 | €47,290 | +€5,470 | +13.1% |
| Fixed assets | 21/28 | €22,249 | €18,988 | -€3,260 | -14.7% |
| Tangible fixed assets | 22/27 | €22,249 | €18,988 | -€3,260 | -14.7% |
| Plant, machinery and equipment | 23 | €6,041 | €7,831 | +€1,790 | +29.6% |
| Furniture and vehicles | 24 | €367 | €179 | -€188 | -51.1% |
| Leasing and similar rights | 25 | €15,841 | €10,978 | -€4,863 | -30.7% |
| Current assets | 29/58 | €19,571 | €28,302 | +€8,730 | +44.6% |
| Stocks and contracts in progress | 3 | €6,453 | €6,793 | +€340 | +5.3% |
| Stocks | 30/36 | €6,453 | €6,793 | +€340 | +5.3% |
| Amounts receivable within one year | 40/41 | €3,889 | €8,949 | +€5,060 | +130.1% |
| Trade receivables | 40 | €3,799 | - | -€3,799 | |
| Other amounts receivable | 41 | €91 | €8,949 | +€8,859 | +9781.2% |
| Cash at bank and in hand | 54/58 | €7,720 | €11,882 | +€4,162 | +53.9% |
| Deferred charges and accrued income | 490/1 | €1,508 | €677 | -€831 | -55.1% |
| Total equity and liabilities | 10/49 | €41,820 | €47,290 | +€5,470 | +13.1% |
| Equity | 10/15 | €10,624 | €19,485 | +€8,861 | +83.4% |
| Contributions | 10/11 | €11,163 | €11,163 | = | 0.0% |
| Reserves | 13 | €17,852 | €17,852 | = | 0.0% |
| Distributable reserves | 133 | €17,852 | €17,852 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,390 | -€9,529 | +€8,861 | +48.2% |
| Amounts payable | 17/49 | €31,196 | €27,805 | -€3,391 | -10.9% |
| Amounts payable after more than one year | 17 | €7,539 | €2,079 | -€5,460 | -72.4% |
| Financial debts | 170/4 | €7,539 | €2,079 | -€5,460 | -72.4% |
| Amounts payable within one year | 42/48 | €23,657 | €25,172 | +€1,515 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €5,081 | €5,460 | +€379 | +7.5% |
| Trade debts | 44 | €4,207 | €1,257 | -€2,950 | -70.1% |
| Suppliers | 440/4 | €4,207 | €1,257 | -€2,950 | -70.1% |
| Taxes, remuneration and social security | 45 | €14,368 | €17,793 | +€3,425 | +23.8% |
| Taxes | 450/3 | €9,034 | €11,721 | +€2,687 | +29.7% |
| Remuneration and social security | 454/9 | €5,334 | €6,072 | +€738 | +13.8% |
| Other amounts payable | 47/48 | - | €661 | +€661 | |
| Accrued charges and deferred income | 492/3 | - | €554 | +€554 | |
| Remuneration, social security and pensions | 62 | €41,855 | €39,732 | -€2,123 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,638 | €7,231 | -€407 | -5.3% |
| Other operating charges | 640/8 | €461 | €414 | -€47 | -10.2% |
| Gross operating margin | 9900 | €56,564 | €62,490 | +€5,926 | +10.5% |
| Operating profit (loss) | 9901 | €6,610 | €15,113 | +€8,504 | +128.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,981 | €1,792 | -€189 | -9.6% |
| Recurring financial charges | 65 | €1,981 | €1,792 | -€189 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €4,629 | €13,322 | +€8,693 | +187.8% |
| Income taxes | 67/77 | €3,229 | €4,461 | +€1,232 | +38.1% |
| Profit (loss) for the period | 9904 | €1,400 | €8,861 | +€7,461 | +533.0% |
| Transfer from tax-exempt reserves | 789 | €8,586 | - | -€8,586 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,985 | €8,861 | -€1,124 | -11.3% |
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 6 October 2026 via checked.be.