LB SMILE: what changed
Two fiscal 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.
LB SMILE
Largest movements
- Tangible fixed assets +€54,973
up €54,973 (+8.7%), from €630,427 to €685,401
of which Plant, machinery and equipment: +€62,210
- Receivables within one year -€51,282
down €51,282 (-29.1%), from €176,227 to €124,944
of which Trade receivables: -€58,001
- Cash +€28,707
up €28,707 (+32.0%), from €89,609 to €118,316
mainly Net result for the year (+€73,880) and Depreciation (+€60,068)
- Reserves +€56,427
up €56,427 (+17.7%), from €318,146 to €374,572
of which Distributable reserves: +€56,427
- Debts after one year -€29,362
down €29,362 (-6.2%), from €474,421 to €445,058
- Tax, wage and social debts +€10,018
up €10,018 (+98.8%), from €10,142 to €20,161
- Gross operating margin +€77,887
up €77,887 (+88.5%), from €88,006 to €165,894
- Depreciation +€18,488
up €18,488 (+44.5%), from €41,580 to €60,068
- Taxes +€8,690
up €8,690 (+106.3%), from €8,175 to €16,864
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 | €898,387 | €930,941 | +€32,553 | +3.6% |
| Fixed assets | 21/28 | €630,632 | €685,606 | +€54,973 | +8.7% |
| Tangible fixed assets | 22/27 | €630,427 | €685,401 | +€54,973 | +8.7% |
| Land and buildings | 22 | €349,821 | €338,731 | -€11,090 | -3.2% |
| Plant, machinery and equipment | 23 | €234,360 | €296,570 | +€62,210 | +26.5% |
| Furniture and vehicles | 24 | €21,582 | €29,421 | +€7,840 | +36.3% |
| Leasing and similar rights | 25 | €24,665 | €20,678 | -€3,987 | -16.2% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €267,755 | €245,335 | -€22,420 | -8.4% |
| Amounts receivable within one year | 40/41 | €176,227 | €124,944 | -€51,282 | -29.1% |
| Trade receivables | 40 | €60,236 | €2,234 | -€58,001 | -96.3% |
| Other amounts receivable | 41 | €115,991 | €122,710 | +€6,719 | +5.8% |
| Cash at bank and in hand | 54/58 | €89,609 | €118,316 | +€28,707 | +32.0% |
| Deferred charges and accrued income | 490/1 | €1,919 | €2,075 | +€156 | +8.1% |
| Total equity and liabilities | 10/49 | €898,387 | €930,941 | +€32,553 | +3.6% |
| Equity | 10/15 | €333,093 | €386,972 | +€53,880 | +16.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €318,146 | €374,572 | +€56,427 | +17.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €297,536 | €353,962 | +€56,427 | +19.0% |
| Profit (loss) carried forward | 14 | €2,547 | - | -€2,547 | |
| Amounts payable | 17/49 | €565,295 | €543,968 | -€21,327 | -3.8% |
| Amounts payable after more than one year | 17 | €474,421 | €445,058 | -€29,362 | -6.2% |
| Financial debts | 170/4 | €474,421 | €445,058 | -€29,362 | -6.2% |
| Amounts payable within one year | 42/48 | €90,514 | €98,730 | +€8,216 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €46,757 | €43,345 | -€3,412 | -7.3% |
| Trade debts | 44 | €486 | €908 | +€421 | +86.7% |
| Suppliers | 440/4 | €486 | €908 | +€421 | +86.7% |
| Taxes, remuneration and social security | 45 | €10,142 | €20,161 | +€10,018 | +98.8% |
| Taxes | 450/3 | €10,142 | €20,161 | +€10,018 | +98.8% |
| Other amounts payable | 47/48 | €33,129 | €34,317 | +€1,188 | +3.6% |
| Accrued charges and deferred income | 492/3 | €360 | €180 | -€180 | -50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,580 | €60,068 | +€18,488 | +44.5% |
| Other operating charges | 640/8 | €4,277 | €3,179 | -€1,098 | -25.7% |
| Gross operating margin | 9900 | €88,006 | €165,894 | +€77,887 | +88.5% |
| Operating profit (loss) | 9901 | €42,150 | €102,647 | +€60,497 | +143.5% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €11,825 | €11,903 | +€78 | +0.7% |
| Recurring financial charges | 65 | €11,825 | €11,903 | +€78 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €30,326 | €90,744 | +€60,418 | +199.2% |
| Income taxes | 67/77 | €8,175 | €16,864 | +€8,690 | +106.3% |
| Profit (loss) for the period | 9904 | €22,152 | €73,880 | +€51,728 | +233.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,152 | €73,880 | +€51,728 | +233.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.