CCM 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.
CCM SMILE
Largest movements
- Current investments -€478,972
no longer reported in 2025 (was €478,972)
- Cash +€466,231
new in 2025: €466,231
mainly Current investments (+€478,972) and Depreciation (+€70,778)
- Tangible fixed assets -€62,114
down €62,114 (-20.0%), from €311,127 to €249,013
of which Plant, machinery and equipment: -€41,149
- Debts after one year -€58,679
down €58,679 (-26.8%), from €218,936 to €160,257
- Accrued charges and deferred income -€34,514
down €34,514 (-99.4%), from €34,713 to €199
- Other debts +€29,858
up €29,858 (+9.6%), from €311,947 to €341,805
- Current portion of long-term debt -€16,702
down €16,702 (-20.9%), from €79,733 to €63,032
- Gross operating margin -€7,405
down €7,405 (-5.7%), from €130,558 to €123,153
- Depreciation -€2,282
down €2,282 (-3.1%), from €73,059 to €70,778
- Taxes -€1,686
down €1,686 (-54.0%), from €3,123 to €1,437
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 | €809,322 | €725,276 | -€84,046 | -10.4% |
| Fixed assets | 21/28 | €311,277 | €249,163 | -€62,114 | -20.0% |
| Tangible fixed assets | 22/27 | €311,127 | €249,013 | -€62,114 | -20.0% |
| Land and buildings | 22 | €183,089 | €171,489 | -€11,600 | -6.3% |
| Plant, machinery and equipment | 23 | €106,196 | €65,046 | -€41,149 | -38.7% |
| Furniture and vehicles | 24 | €1,370 | €1,413 | +€44 | +3.2% |
| Leasing and similar rights | 25 | €20,472 | €11,064 | -€9,408 | -46.0% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €498,045 | €476,113 | -€21,932 | -4.4% |
| Stocks and contracts in progress | 3 | €10,000 | €4,500 | -€5,500 | -55.0% |
| Stocks | 30/36 | €10,000 | €4,500 | -€5,500 | -55.0% |
| Amounts receivable within one year | 40/41 | - | €16 | +€16 | |
| Trade receivables | 40 | - | €16 | +€16 | |
| Current investments | 50/53 | €478,972 | - | -€478,972 | |
| Cash at bank and in hand | 54/58 | - | €466,231 | +€466,231 | |
| Deferred charges and accrued income | 490/1 | €9,073 | €5,367 | -€3,706 | -40.9% |
| Total equity and liabilities | 10/49 | €809,322 | €725,276 | -€84,046 | -10.4% |
| Equity | 10/15 | €149,511 | €152,648 | +€3,137 | +2.1% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €89,511 | €92,648 | +€3,137 | +3.5% |
| Amounts payable | 17/49 | €659,812 | €572,628 | -€87,184 | -13.2% |
| Amounts payable after more than one year | 17 | €218,936 | €160,257 | -€58,679 | -26.8% |
| Financial debts | 170/4 | €218,936 | €160,257 | -€58,679 | -26.8% |
| Amounts payable within one year | 42/48 | €406,162 | €412,172 | +€6,010 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €79,733 | €63,032 | -€16,702 | -20.9% |
| Trade debts | 44 | €5,665 | - | -€5,665 | |
| Suppliers | 440/4 | €5,665 | - | -€5,665 | |
| Taxes, remuneration and social security | 45 | €8,817 | €7,335 | -€1,482 | -16.8% |
| Taxes | 450/3 | €3,081 | €1,437 | -€1,644 | -53.3% |
| Remuneration and social security | 454/9 | €5,736 | €5,898 | +€162 | +2.8% |
| Other amounts payable | 47/48 | €311,947 | €341,805 | +€29,858 | +9.6% |
| Accrued charges and deferred income | 492/3 | €34,713 | €199 | -€34,514 | -99.4% |
| Remuneration, social security and pensions | 62 | €37,426 | €38,233 | +€807 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,059 | €70,778 | -€2,282 | -3.1% |
| Other operating charges | 640/8 | €1,799 | €2,309 | +€510 | +28.3% |
| Gross operating margin | 9900 | €130,558 | €123,153 | -€7,405 | -5.7% |
| Operating profit (loss) | 9901 | €18,274 | €11,833 | -€6,441 | -35.2% |
| Financial income | 75/76B | €65 | €0 | -€65 | -100.0% |
| Recurring financial income | 75 | €65 | €0 | -€65 | -100.0% |
| Financial charges | 65/66B | €8,297 | €7,258 | -€1,038 | -12.5% |
| Recurring financial charges | 65 | €8,297 | €7,258 | -€1,038 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €10,042 | €4,575 | -€5,467 | -54.4% |
| Income taxes | 67/77 | €3,123 | €1,437 | -€1,686 | -54.0% |
| Profit (loss) for the period | 9904 | €6,919 | €3,137 | -€3,781 | -54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,919 | €3,137 | -€3,781 | -54.7% |
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 14 October 2026 via checked.be.