JM 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.
JM SMILE
Largest movements
- Receivables within one year +€14,261
up €14,261 (+64.0%), from €22,287 to €36,548
of which Other amounts receivable: +€15,514
- Cash -€11,648
down €11,648 (-5.6%), from €208,534 to €196,887
mainly Contributions, distributions and other (-€200,000) and Tax, wage and social debts (-€40,838)
- Tangible fixed assets -€4,666
down €4,666 (-50.8%), from €9,180 to €4,514
- Other debts +€196,568
up €196,568 (+5,727%), from €3,432 to €200,000
- Profit (loss) carried forward -€127,603
down €127,603 (-79.9%), from €159,638 to €32,035
- Tax, wage and social debts -€40,838
down €40,838 (-92.7%), from €44,050 to €3,212
of which Remuneration and social security: -€30,399
- Trade debts -€15,332
down €15,332 (-85.6%), from €17,910 to €2,579
- Advances received -€14,852
no longer reported in 2025 (was €14,852)
- Gross operating margin -€36,767
down €36,767 (-27.4%), from €134,067 to €97,299
- Taxes -€8,839
down €8,839 (-31.4%), from €28,137 to €19,298
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 | €240,882 | €238,825 | -€2,057 | -0.9% |
| Fixed assets | 21/28 | €9,180 | €4,514 | -€4,666 | -50.8% |
| Tangible fixed assets | 22/27 | €9,180 | €4,514 | -€4,666 | -50.8% |
| Furniture and vehicles | 24 | €9,180 | €4,514 | -€4,666 | -50.8% |
| Current assets | 29/58 | €231,702 | €234,311 | +€2,609 | +1.1% |
| Amounts receivable within one year | 40/41 | €22,287 | €36,548 | +€14,261 | +64.0% |
| Trade receivables | 40 | €22,287 | €21,035 | -€1,253 | -5.6% |
| Other amounts receivable | 41 | - | €15,514 | +€15,514 | |
| Cash at bank and in hand | 54/58 | €208,534 | €196,887 | -€11,648 | -5.6% |
| Deferred charges and accrued income | 490/1 | €881 | €876 | -€4 | -0.5% |
| Total equity and liabilities | 10/49 | €240,882 | €238,825 | -€2,057 | -0.9% |
| Equity | 10/15 | €160,638 | €33,035 | -€127,603 | -79.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €159,638 | €32,035 | -€127,603 | -79.9% |
| Amounts payable | 17/49 | €80,244 | €205,790 | +€125,546 | +156% |
| Amounts payable within one year | 42/48 | €80,244 | €205,790 | +€125,546 | +156% |
| Trade debts | 44 | €17,910 | €2,579 | -€15,332 | -85.6% |
| Suppliers | 440/4 | €17,910 | €2,579 | -€15,332 | -85.6% |
| Advances received on contracts in progress | 46 | €14,852 | - | -€14,852 | |
| Taxes, remuneration and social security | 45 | €44,050 | €3,212 | -€40,838 | -92.7% |
| Taxes | 450/3 | €13,651 | €3,212 | -€10,440 | -76.5% |
| Remuneration and social security | 454/9 | €30,399 | - | -€30,399 | |
| Other amounts payable | 47/48 | €3,432 | €200,000 | +€196,568 | +5,727% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,666 | €4,666 | = | 0.0% |
| Other operating charges | 640/8 | €1,443 | €757 | -€686 | -47.5% |
| Gross operating margin | 9900 | €134,067 | €97,299 | -€36,767 | -27.4% |
| Operating profit (loss) | 9901 | €127,958 | €91,876 | -€36,082 | -28.2% |
| Financial charges | 65/66B | €44 | €182 | +€138 | +318% |
| Recurring financial charges | 65 | €44 | €182 | +€138 | +318% |
| Profit (loss) for the period before taxes | 9903 | €127,914 | €91,694 | -€36,220 | -28.3% |
| Income taxes | 67/77 | €28,137 | €19,298 | -€8,839 | -31.4% |
| Profit (loss) for the period | 9904 | €99,778 | €72,397 | -€27,381 | -27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €99,778 | €72,397 | -€27,381 | -27.4% |
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 15 October 2026 via checked.be.