K 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.
K SMILE
Largest movements
- Cash -€179,416
down €179,416 (-99.6%), from €180,066 to €650
mainly Other debts (-€157,541) and Contributions, distributions and other (-€90,000)
- Receivables within one year +€26,177
up €26,177 (+69.3%), from €37,749 to €63,927
- Deferred charges and accrued income -€7,958
down €7,958 (-28.0%), from €28,402 to €20,445
- Other debts -€157,541
down €157,541 (-63.6%), from €247,541 to €90,000
- Profit (loss) carried forward -€3,065
down €3,065 (-80.7%), from €3,797 to €733
- Gross operating margin -€50,627
down €50,627 (-29.6%), from €171,140 to €120,513
- Taxes -€13,531
down €13,531 (-30.8%), from €44,002 to €30,471
- Depreciation +€2,916
up €2,916 (+608%), from €479 to €3,395
- Financial income -€1,720
down €1,720 (-64.9%), from €2,650 to €930
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 | €253,762 | €93,971 | -€159,791 | -63.0% |
| Fixed assets | 21/28 | €7,545 | €8,950 | +€1,405 | +18.6% |
| Tangible fixed assets | 22/27 | €7,545 | €8,950 | +€1,405 | +18.6% |
| Plant, machinery and equipment | 23 | - | €4,080 | +€4,080 | |
| Furniture and vehicles | 24 | €7,545 | €4,870 | -€2,675 | -35.5% |
| Current assets | 29/58 | €246,217 | €85,021 | -€161,196 | -65.5% |
| Amounts receivable within one year | 40/41 | €37,749 | €63,927 | +€26,177 | +69.3% |
| Other amounts receivable | 41 | €37,749 | €63,927 | +€26,177 | +69.3% |
| Cash at bank and in hand | 54/58 | €180,066 | €650 | -€179,416 | -99.6% |
| Deferred charges and accrued income | 490/1 | €28,402 | €20,445 | -€7,958 | -28.0% |
| Total equity and liabilities | 10/49 | €253,762 | €93,971 | -€159,791 | -63.0% |
| Equity | 10/15 | €4,797 | €1,733 | -€3,065 | -63.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,797 | €733 | -€3,065 | -80.7% |
| Amounts payable | 17/49 | €248,965 | €92,238 | -€156,726 | -63.0% |
| Amounts payable within one year | 42/48 | €248,965 | €92,238 | -€156,726 | -63.0% |
| Trade debts | 44 | €1,423 | €2,238 | +€815 | +57.3% |
| Suppliers | 440/4 | €1,423 | €2,238 | +€815 | +57.3% |
| Other amounts payable | 47/48 | €247,541 | €90,000 | -€157,541 | -63.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €479 | €3,395 | +€2,916 | +608% |
| Other operating charges | 640/8 | €716 | €596 | -€120 | -16.7% |
| Gross operating margin | 9900 | €171,140 | €120,513 | -€50,627 | -29.6% |
| Operating profit (loss) | 9901 | €169,945 | €116,521 | -€53,423 | -31.4% |
| Financial income | 75/76B | €2,650 | €930 | -€1,720 | -64.9% |
| Recurring financial income | 75 | €2,650 | €930 | -€1,720 | -64.9% |
| Financial charges | 65/66B | €44 | €45 | +€1 | +3.4% |
| Recurring financial charges | 65 | €44 | €45 | +€1 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €172,551 | €117,406 | -€55,145 | -32.0% |
| Income taxes | 67/77 | €44,002 | €30,471 | -€13,531 | -30.8% |
| Profit (loss) for the period | 9904 | €128,549 | €86,935 | -€41,614 | -32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €128,549 | €86,935 | -€41,614 | -32.4% |
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 26 October 2026 via checked.be.