2SMILE: 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.
2SMILE
Largest movements
- Tangible fixed assets +€458,085
up €458,085 (+91.8%), from €498,845 to €956,930
of which Land and buildings: +€488,419
- Receivables within one year -€58,923
down €58,923 (-42.2%), from €139,674 to €80,751
of which Trade receivables: -€69,845
- Cash +€56,607
up €56,607 (+300.5%), from €18,837 to €75,444
mainly Debts after one year (+€378,334) and Depreciation (+€143,858)
- Debts after one year +€378,334
up €378,334 (+89.0%), from €425,025 to €803,359
- Profit (loss) carried forward +€44,343
up €44,343 (+68.7%), from €64,562 to €108,904
- Other debts +€22,413
new in 2025: €22,413
- Current portion of long-term debt +€18,242
up €18,242 (+24.0%), from €76,135 to €94,377
- Reserves -€17,413
down €17,413 (-90.3%), from €19,273 to €1,860
of which Distributable reserves: -€17,413
- Gross operating margin +€44,700
up €44,700 (+16.9%), from €264,702 to €309,402
- Depreciation +€32,797
up €32,797 (+29.5%), from €111,061 to €143,858
- Staff costs +€16,534
up €16,534 (+34.3%), from €48,189 to €64,723
- Financial charges +€10,179
up €10,179 (+65.3%), from €15,578 to €25,757
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 | €662,610 | €1,119,764 | +€457,154 | +69.0% |
| Fixed assets | 21/28 | €498,931 | €957,016 | +€458,085 | +91.8% |
| Tangible fixed assets | 22/27 | €498,845 | €956,930 | +€458,085 | +91.8% |
| Land and buildings | 22 | €280,431 | €768,850 | +€488,419 | +174.2% |
| Plant, machinery and equipment | 23 | €19,744 | €41,034 | +€21,290 | +107.8% |
| Furniture and vehicles | 24 | €103,280 | €84,800 | -€18,479 | -17.9% |
| Leasing and similar rights | 25 | €95,391 | €62,246 | -€33,145 | -34.7% |
| Financial fixed assets | 28 | €86 | €86 | = | 0.0% |
| Current assets | 29/58 | €163,678 | €162,748 | -€931 | -0.6% |
| Amounts receivable within one year | 40/41 | €139,674 | €80,751 | -€58,923 | -42.2% |
| Trade receivables | 40 | €69,845 | - | -€69,845 | |
| Other amounts receivable | 41 | €69,829 | €80,751 | +€10,922 | +15.6% |
| Cash at bank and in hand | 54/58 | €18,837 | €75,444 | +€56,607 | +300.5% |
| Deferred charges and accrued income | 490/1 | €5,166 | €6,553 | +€1,386 | +26.8% |
| Total equity and liabilities | 10/49 | €662,610 | €1,119,764 | +€457,154 | +69.0% |
| Equity | 10/15 | €121,035 | €147,964 | +€26,929 | +22.2% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €19,273 | €1,860 | -€17,413 | -90.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €17,413 | - | -€17,413 | |
| Profit (loss) carried forward | 14 | €64,562 | €108,904 | +€44,343 | +68.7% |
| Amounts payable | 17/49 | €541,574 | €971,799 | +€430,225 | +79.4% |
| Amounts payable after more than one year | 17 | €425,025 | €803,359 | +€378,334 | +89.0% |
| Financial debts | 170/4 | €425,025 | €803,359 | +€378,334 | +89.0% |
| Amounts payable within one year | 42/48 | €115,947 | €166,719 | +€50,772 | +43.8% |
| Current portion of amounts payable after more than one year | 42 | €76,135 | €94,377 | +€18,242 | +24.0% |
| Trade debts | 44 | €20,136 | €20,548 | +€412 | +2.0% |
| Suppliers | 440/4 | €20,136 | €20,548 | +€412 | +2.0% |
| Taxes, remuneration and social security | 45 | €19,677 | €29,381 | +€9,704 | +49.3% |
| Taxes | 450/3 | €18,259 | €19,595 | +€1,336 | +7.3% |
| Remuneration and social security | 454/9 | €1,418 | €9,786 | +€8,369 | +590.3% |
| Other amounts payable | 47/48 | - | €22,413 | +€22,413 | |
| Accrued charges and deferred income | 492/3 | €602 | €1,721 | +€1,119 | +185.9% |
| Remuneration, social security and pensions | 62 | €48,189 | €64,723 | +€16,534 | +34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,061 | €143,858 | +€32,797 | +29.5% |
| Other operating charges | 640/8 | €17,672 | €15,591 | -€2,081 | -11.8% |
| Non-recurring operating charges | 66A | €3,083 | - | -€3,083 | |
| Gross operating margin | 9900 | €264,702 | €309,402 | +€44,700 | +16.9% |
| Operating profit (loss) | 9901 | €84,697 | €85,229 | +€532 | +0.6% |
| Financial income | 75/76B | €533 | €235 | -€298 | -55.9% |
| Recurring financial income | 75 | €533 | €235 | -€298 | -55.9% |
| Financial charges | 65/66B | €15,578 | €25,757 | +€10,179 | +65.3% |
| Recurring financial charges | 65 | €15,578 | €25,757 | +€10,179 | +65.3% |
| Profit (loss) for the period before taxes | 9903 | €69,652 | €59,708 | -€9,945 | -14.3% |
| Income taxes | 67/77 | €17,830 | €15,365 | -€2,465 | -13.8% |
| Profit (loss) for the period | 9904 | €51,823 | €44,343 | -€7,480 | -14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €51,823 | €44,343 | -€7,480 | -14.4% |
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 11 October 2026 via checked.be.