HD 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.
HD SMILE
Largest movements
- Cash +€13,546
up €13,546 (+79.5%), from €17,034 to €30,580
mainly Net result for the year (+€23,237) and Depreciation (+€12,510)
- Tangible fixed assets -€12,510
down €12,510 (-44.0%), from €28,411 to €15,902
of which Furniture and vehicles: -€11,832
- Deferred charges and accrued income +€3,213
up €3,213 (+30.7%), from €10,471 to €13,684
- Profit (loss) carried forward +€23,237
up €23,237 (+120.6%), from €19,275 to €42,512
- Other debts -€18,850
down €18,850 (-79.8%), from €23,633 to €4,783
- Gross operating margin -€2,815
down €2,815 (-6.0%), from €47,137 to €44,322
- Depreciation +€2,032
up €2,032 (+19.4%), from €10,478 to €12,510
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 | €56,072 | €60,165 | +€4,093 | +7.3% |
| Fixed assets | 21/28 | €28,411 | €15,902 | -€12,510 | -44.0% |
| Tangible fixed assets | 22/27 | €28,411 | €15,902 | -€12,510 | -44.0% |
| Plant, machinery and equipment | 23 | €3,095 | €2,417 | -€678 | -21.9% |
| Furniture and vehicles | 24 | €25,316 | €13,484 | -€11,832 | -46.7% |
| Current assets | 29/58 | €27,661 | €44,264 | +€16,603 | +60.0% |
| Amounts receivable within one year | 40/41 | €156 | - | -€156 | |
| Trade receivables | 40 | €156 | - | -€156 | |
| Cash at bank and in hand | 54/58 | €17,034 | €30,580 | +€13,546 | +79.5% |
| Deferred charges and accrued income | 490/1 | €10,471 | €13,684 | +€3,213 | +30.7% |
| Total equity and liabilities | 10/49 | €56,072 | €60,165 | +€4,093 | +7.3% |
| Equity | 10/15 | €21,775 | €45,012 | +€23,237 | +106.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,275 | €42,512 | +€23,237 | +120.6% |
| Amounts payable | 17/49 | €34,297 | €15,153 | -€19,144 | -55.8% |
| Amounts payable within one year | 42/48 | €34,297 | €15,153 | -€19,144 | -55.8% |
| Trade debts | 44 | €156 | €339 | +€182 | +116.5% |
| Suppliers | 440/4 | €156 | €339 | +€182 | +116.5% |
| Taxes, remuneration and social security | 45 | €10,508 | €10,031 | -€476 | -4.5% |
| Taxes | 450/3 | €8,008 | €7,531 | -€476 | -5.9% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €23,633 | €4,783 | -€18,850 | -79.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,478 | €12,510 | +€2,032 | +19.4% |
| Other operating charges | 640/8 | €1,072 | €693 | -€379 | -35.3% |
| Gross operating margin | 9900 | €47,137 | €44,322 | -€2,815 | -6.0% |
| Operating profit (loss) | 9901 | €35,587 | €31,119 | -€4,469 | -12.6% |
| Financial charges | 65/66B | €105 | €150 | +€45 | +42.9% |
| Recurring financial charges | 65 | €105 | €150 | +€45 | +42.9% |
| Profit (loss) for the period before taxes | 9903 | €35,482 | €30,969 | -€4,514 | -12.7% |
| Income taxes | 67/77 | €7,636 | €7,731 | +€95 | +1.2% |
| Profit (loss) for the period | 9904 | €27,846 | €23,237 | -€4,609 | -16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,846 | €23,237 | -€4,609 | -16.6% |
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 12 October 2026 via checked.be.