BAD SMUGGLER: 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.
BAD SMUGGLER
Largest movements
- Cash +€17,796
up €17,796 (+255.9%), from €6,955 to €24,751
mainly Net result for the year (+€24,330) and Receivables within one year (+€15,824)
- Receivables within one year -€15,824
down €15,824 (-56.5%), from €28,027 to €12,203
of which Trade receivables: -€15,204
- Tangible fixed assets -€1,288
down €1,288 (-17.6%), from €7,309 to €6,021
of which Land and buildings: -€1,707
- Profit (loss) carried forward +€24,330
up €24,330, from -€19,332 to €4,998
- Other debts -€12,162
down €12,162 (-34.1%), from €35,702 to €23,540
- Trade debts -€7,683
down €7,683 (-56.8%), from €13,534 to €5,851
- Tax, wage and social debts -€3,717
down €3,717 (-31.6%), from €11,761 to €8,043
of which Remuneration and social security: -€4,479
- Gross operating margin +€42,263
up €42,263, from -€7,635 to €34,628
- Taxes +€4,412
up €4,412 (+2155.4%), from €205 to €4,617
- Depreciation -€1,009
down €1,009 (-21.0%), from €4,800 to €3,791
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 | €43,665 | €44,433 | +€768 | +1.8% |
| Fixed assets | 21/28 | €7,309 | €6,021 | -€1,288 | -17.6% |
| Tangible fixed assets | 22/27 | €7,309 | €6,021 | -€1,288 | -17.6% |
| Land and buildings | 22 | €4,109 | €2,402 | -€1,707 | -41.5% |
| Furniture and vehicles | 24 | €3,200 | €3,619 | +€419 | +13.1% |
| Current assets | 29/58 | €36,356 | €38,411 | +€2,056 | +5.7% |
| Amounts receivable within one year | 40/41 | €28,027 | €12,203 | -€15,824 | -56.5% |
| Trade receivables | 40 | €27,407 | €12,203 | -€15,204 | -55.5% |
| Other amounts receivable | 41 | €620 | - | -€620 | |
| Cash at bank and in hand | 54/58 | €6,955 | €24,751 | +€17,796 | +255.9% |
| Deferred charges and accrued income | 490/1 | €1,374 | €1,458 | +€84 | +6.1% |
| Total equity and liabilities | 10/49 | €43,665 | €44,433 | +€768 | +1.8% |
| Equity | 10/15 | -€17,332 | €6,998 | +€24,330 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,332 | €4,998 | +€24,330 | |
| Amounts payable | 17/49 | €60,997 | €37,434 | -€23,562 | -38.6% |
| Amounts payable within one year | 42/48 | €60,997 | €37,434 | -€23,562 | -38.6% |
| Trade debts | 44 | €13,534 | €5,851 | -€7,683 | -56.8% |
| Suppliers | 440/4 | €13,534 | €5,851 | -€7,683 | -56.8% |
| Taxes, remuneration and social security | 45 | €11,761 | €8,043 | -€3,717 | -31.6% |
| Taxes | 450/3 | €7,282 | €8,043 | +€761 | +10.5% |
| Remuneration and social security | 454/9 | €4,479 | - | -€4,479 | |
| Other amounts payable | 47/48 | €35,702 | €23,540 | -€12,162 | -34.1% |
| Remuneration, social security and pensions | 62 | €1,658 | €1,658 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,800 | €3,791 | -€1,009 | -21.0% |
| Other operating charges | 640/8 | €98 | €101 | +€3 | +3.4% |
| Gross operating margin | 9900 | -€7,635 | €34,628 | +€42,263 | |
| Operating profit (loss) | 9901 | -€14,191 | €29,078 | +€43,269 | |
| Financial income | 75/76B | €4 | €10 | +€6 | +131.0% |
| Recurring financial income | 75 | €4 | €10 | +€6 | +131.0% |
| Financial charges | 65/66B | €82 | €141 | +€59 | +71.9% |
| Recurring financial charges | 65 | €82 | €141 | +€59 | +71.9% |
| Profit (loss) for the period before taxes | 9903 | -€14,269 | €28,947 | +€43,216 | |
| Income taxes | 67/77 | €205 | €4,617 | +€4,412 | +2155.4% |
| Profit (loss) for the period | 9904 | -€14,473 | €24,330 | +€38,803 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,473 | €24,330 | +€38,803 |
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 9 October 2026 via checked.be.