AV SMILE: 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.
AV SMILE
Largest movements
- Cash +€96,897
up €96,897 (+97.2%), from €99,666 to €196,563
mainly Net result for the year (+€115,352) and Depreciation (+€10,140)
- Tangible fixed assets -€10,140
down €10,140 (-25.9%), from €39,159 to €29,019
- Deferred charges and accrued income +€8,437
up €8,437 (+37.7%), from €22,359 to €30,796
- Receivables within one year +€7,814
up €7,814 (+17.2%), from €45,384 to €53,198
of which Other amounts receivable: +€4,317
- Profit (loss) carried forward +€115,352
up €115,352 (+73.6%), from €156,701 to €272,053
- Debts after one year -€9,546
down €9,546 (-31.1%), from €30,714 to €21,167
- Tax, wage and social debts -€4,118
down €4,118 (-59.0%), from €6,983 to €2,865
- Gross operating margin +€31,605
up €31,605 (+25.0%), from €126,432 to €158,037
- Taxes +€8,342
up €8,342 (+34.1%), from €24,483 to €32,826
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 | €206,567 | €309,575 | +€103,008 | +49.9% |
| Fixed assets | 21/28 | €39,159 | €29,019 | -€10,140 | -25.9% |
| Tangible fixed assets | 22/27 | €39,159 | €29,019 | -€10,140 | -25.9% |
| Furniture and vehicles | 24 | €39,159 | €29,019 | -€10,140 | -25.9% |
| Current assets | 29/58 | €167,409 | €280,556 | +€113,148 | +67.6% |
| Amounts receivable within one year | 40/41 | €45,384 | €53,198 | +€7,814 | +17.2% |
| Trade receivables | 40 | €384 | €3,881 | +€3,497 | +911% |
| Other amounts receivable | 41 | €45,000 | €49,317 | +€4,317 | +9.6% |
| Cash at bank and in hand | 54/58 | €99,666 | €196,563 | +€96,897 | +97.2% |
| Deferred charges and accrued income | 490/1 | €22,359 | €30,796 | +€8,437 | +37.7% |
| Total equity and liabilities | 10/49 | €206,567 | €309,575 | +€103,008 | +49.9% |
| Equity | 10/15 | €159,701 | €275,053 | +€115,352 | +72.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €156,701 | €272,053 | +€115,352 | +73.6% |
| Amounts payable | 17/49 | €46,866 | €34,522 | -€12,344 | -26.3% |
| Amounts payable after more than one year | 17 | €30,714 | €21,167 | -€9,546 | -31.1% |
| Financial debts | 170/4 | €30,714 | €21,167 | -€9,546 | -31.1% |
| Amounts payable within one year | 42/48 | €16,153 | €13,355 | -€2,798 | -17.3% |
| Current portion of amounts payable after more than one year | 42 | €9,169 | €9,546 | +€377 | +4.1% |
| Trade debts | 44 | - | €944 | +€944 | |
| Suppliers | 440/4 | - | €944 | +€944 | |
| Taxes, remuneration and social security | 45 | €6,983 | €2,865 | -€4,118 | -59.0% |
| Taxes | 450/3 | €6,983 | €2,865 | -€4,118 | -59.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,857 | €10,140 | +€283 | +2.9% |
| Other operating charges | 640/8 | €610 | €501 | -€110 | -18.0% |
| Gross operating margin | 9900 | €126,432 | €158,037 | +€31,605 | +25.0% |
| Operating profit (loss) | 9901 | €115,964 | €147,396 | +€31,432 | +27.1% |
| Financial income | 75/76B | €1,150 | €2,365 | +€1,215 | +106% |
| Recurring financial income | 75 | €1,150 | €2,365 | +€1,215 | +106% |
| Financial charges | 65/66B | €1,784 | €1,583 | -€201 | -11.3% |
| Recurring financial charges | 65 | €1,784 | €1,583 | -€201 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €115,330 | €148,177 | +€32,848 | +28.5% |
| Income taxes | 67/77 | €24,483 | €32,826 | +€8,342 | +34.1% |
| Profit (loss) for the period | 9904 | €90,847 | €115,352 | +€24,505 | +27.0% |
| Profit (loss) for the period to be appropriated | 9905 | €90,847 | €115,352 | +€24,505 | +27.0% |
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 21 October 2026 via checked.be.