J-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.
J-SMILE
Largest movements
- Cash +€69,428
up €69,428 (+150%), from €46,239 to €115,667
mainly Other debts (+€251,057) and Depreciation (+€107,168)
- Deferred charges and accrued income -€16,206
down €16,206 (-86.0%), from €18,851 to €2,645
- Tangible fixed assets +€10,567
up €10,567 (+1.8%), from €580,572 to €591,139
of which Furniture and vehicles: +€37,547
- Other debts +€251,057
up €251,057 (+554%), from €45,331 to €296,387
- Reserves -€205,946
down €205,946 (-64.6%), from €318,622 to €112,677
- Debts after one year +€15,555
up €15,555 (+7.1%), from €218,750 to €234,305
- Depreciation +€51,397
up €51,397 (+92.2%), from €55,772 to €107,168
- Gross operating margin +€31,091
up €31,091 (+14.3%), from €217,179 to €248,269
- Financial charges +€7,146
up €7,146 (+110%), from €6,508 to €13,654
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 | €650,802 | €712,042 | +€61,240 | +9.4% |
| Fixed assets | 21/28 | €580,872 | €591,439 | +€10,567 | +1.8% |
| Tangible fixed assets | 22/27 | €580,572 | €591,139 | +€10,567 | +1.8% |
| Land and buildings | 22 | €230,209 | €216,064 | -€14,145 | -6.1% |
| Plant, machinery and equipment | 23 | €305,442 | €292,607 | -€12,835 | -4.2% |
| Furniture and vehicles | 24 | €44,921 | €82,468 | +€37,547 | +83.6% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €69,930 | €120,603 | +€50,673 | +72.5% |
| Stocks and contracts in progress | 3 | - | €2,291 | +€2,291 | |
| Stocks | 30/36 | - | €2,291 | +€2,291 | |
| Amounts receivable within one year | 40/41 | €4,840 | €0 | -€4,840 | -100% |
| Other amounts receivable | 41 | €4,840 | €0 | -€4,840 | -100% |
| Cash at bank and in hand | 54/58 | €46,239 | €115,667 | +€69,428 | +150% |
| Deferred charges and accrued income | 490/1 | €18,851 | €2,645 | -€16,206 | -86.0% |
| Total equity and liabilities | 10/49 | €650,802 | €712,042 | +€61,240 | +9.4% |
| Equity | 10/15 | €337,172 | €131,227 | -€205,946 | -61.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €318,622 | €112,677 | -€205,946 | -64.6% |
| Distributable reserves | 133 | €318,622 | €112,677 | -€205,946 | -64.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €313,630 | €580,815 | +€267,186 | +85.2% |
| Amounts payable after more than one year | 17 | €218,750 | €234,305 | +€15,555 | +7.1% |
| Financial debts | 170/4 | €218,750 | €234,305 | +€15,555 | +7.1% |
| Amounts payable within one year | 42/48 | €94,680 | €346,510 | +€251,831 | +266% |
| Current portion of amounts payable after more than one year | 42 | €38,912 | €39,730 | +€819 | +2.1% |
| Trade debts | 44 | €5,138 | €1,851 | -€3,287 | -64.0% |
| Suppliers | 440/4 | €5,138 | €1,851 | -€3,287 | -64.0% |
| Taxes, remuneration and social security | 45 | €5,300 | €8,542 | +€3,242 | +61.2% |
| Taxes | 450/3 | €3,000 | €4,650 | +€1,650 | +55.0% |
| Remuneration and social security | 454/9 | €2,300 | €3,892 | +€1,592 | +69.2% |
| Other amounts payable | 47/48 | €45,331 | €296,387 | +€251,057 | +554% |
| Accrued charges and deferred income | 492/3 | €200 | €0 | -€200 | -100% |
| Remuneration, social security and pensions | 62 | - | €1,683 | +€1,683 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,772 | €107,168 | +€51,397 | +92.2% |
| Other operating charges | 640/8 | €3,485 | €2,051 | -€1,434 | -41.1% |
| Non-recurring operating charges | 66A | €0 | €3,952 | +€3,952 | |
| Gross operating margin | 9900 | €217,179 | €248,269 | +€31,091 | +14.3% |
| Operating profit (loss) | 9901 | €157,921 | €133,414 | -€24,507 | -15.5% |
| Financial charges | 65/66B | €6,508 | €13,654 | +€7,146 | +110% |
| Recurring financial charges | 65 | €6,508 | €13,654 | +€7,146 | +110% |
| Profit (loss) for the period before taxes | 9903 | €151,414 | €119,760 | -€31,653 | -20.9% |
| Income taxes | 67/77 | €25,158 | €25,706 | +€548 | +2.2% |
| Profit (loss) for the period | 9904 | €126,256 | €94,054 | -€32,202 | -25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €126,256 | €94,054 | -€32,202 | -25.5% |
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.