HOD SMILE: what changed
HOD SMILE
Largest movements
- Tangible fixed assets +€38,767
up €38,767 (+62.6%), from €61,952 to €100,719
of which Plant, machinery and equipment: +€46,086
- Receivables within one year +€28,799
up €28,799 (+29.6%), from €97,371 to €126,170
of which Other amounts receivable: +€22,793
- Cash -€14,941
down €14,941 (-15.8%), from €94,729 to €79,788
mainly Contributions, distributions and other (-€160,969) and Investment in fixed assets (net) (-€51,976)
- Deferred charges and accrued income +€10,444
new in 2025: €10,444
- Reserves -€69,859
down €69,859 (-61.2%), from €114,230 to €44,371
- Other debts +€69,684
up €69,684 (+75.3%), from €92,516 to €162,199
- Tax, wage and social debts +€32,857
up €32,857 (+85.1%), from €38,632 to €71,489
- Debts after one year +€23,875
new in 2025: €23,875
- Current portion of long-term debt +€5,661
new in 2025: €5,661
- Depreciation +€4,124
up €4,124 (+45.4%), from €9,084 to €13,209
- Gross operating margin +€3,411
up €3,411 (+2.7%), from €125,071 to €128,482
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €254,052 | €317,122 | +€63,069 | +24.8% |
| Fixed assets | 21/28 | €61,952 | €100,719 | +€38,767 | +62.6% |
| Tangible fixed assets | 22/27 | €61,952 | €100,719 | +€38,767 | +62.6% |
| Land and buildings | 22 | €49,732 | €44,615 | -€5,117 | -10.3% |
| Plant, machinery and equipment | 23 | €3,166 | €49,251 | +€46,086 | +1,456% |
| Furniture and vehicles | 24 | €9,055 | €6,853 | -€2,201 | -24.3% |
| Current assets | 29/58 | €192,100 | €216,402 | +€24,302 | +12.7% |
| Amounts receivable within one year | 40/41 | €97,371 | €126,170 | +€28,799 | +29.6% |
| Trade receivables | 40 | €1,800 | €7,806 | +€6,006 | +334% |
| Other amounts receivable | 41 | €95,571 | €118,364 | +€22,793 | +23.8% |
| Cash at bank and in hand | 54/58 | €94,729 | €79,788 | -€14,941 | -15.8% |
| Deferred charges and accrued income | 490/1 | - | €10,444 | +€10,444 | |
| Total equity and liabilities | 10/49 | €254,052 | €317,122 | +€63,069 | +24.8% |
| Equity | 10/15 | €117,230 | €47,371 | -€69,859 | -59.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €114,230 | €44,371 | -€69,859 | -61.2% |
| Distributable reserves | 133 | €114,230 | €44,371 | -€69,859 | -61.2% |
| Amounts payable | 17/49 | €136,823 | €269,751 | +€132,929 | +97.2% |
| Amounts payable after more than one year | 17 | - | €23,875 | +€23,875 | |
| Financial debts | 170/4 | - | €23,875 | +€23,875 | |
| Amounts payable within one year | 42/48 | €136,823 | €245,877 | +€109,054 | +79.7% |
| Current portion of amounts payable after more than one year | 42 | - | €5,661 | +€5,661 | |
| Trade debts | 44 | €5,675 | €6,527 | +€852 | +15.0% |
| Suppliers | 440/4 | €5,675 | €6,527 | +€852 | +15.0% |
| Taxes, remuneration and social security | 45 | €38,632 | €71,489 | +€32,857 | +85.1% |
| Taxes | 450/3 | €38,632 | €71,489 | +€32,857 | +85.1% |
| Other amounts payable | 47/48 | €92,516 | €162,199 | +€69,684 | +75.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,084 | €13,209 | +€4,124 | +45.4% |
| Other operating charges | 640/8 | €864 | €1,827 | +€963 | +111% |
| Gross operating margin | 9900 | €125,071 | €128,482 | +€3,411 | +2.7% |
| Operating profit (loss) | 9901 | €115,122 | €113,446 | -€1,676 | -1.5% |
| Financial income | 75/76B | €5,389 | €5,797 | +€408 | +7.6% |
| Recurring financial income | 75 | €5,389 | €5,797 | +€408 | +7.6% |
| Financial charges | 65/66B | €773 | €890 | +€117 | +15.2% |
| Recurring financial charges | 65 | €773 | €890 | +€117 | +15.2% |
| Profit (loss) for the period before taxes | 9903 | €119,738 | €118,352 | -€1,386 | -1.2% |
| Income taxes | 67/77 | €28,453 | €27,243 | -€1,210 | -4.3% |
| Profit (loss) for the period | 9904 | €91,285 | €91,109 | -€176 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €91,285 | €91,109 | -€176 | -0.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.