LM 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.
LM SMILE
Largest movements
- Receivables within one year +€7,816
new in 2025: €7,816
- Cash +€7,300
up €7,300 (+153%), from €4,763 to €12,063
mainly Net result for the year (+€23,469) and Tax, wage and social debts (+€5,761)
- Deferred charges and accrued income +€6,222
up €6,222 (+173%), from €3,606 to €9,829
- Tangible fixed assets +€1,950
up €1,950 (+114%), from €1,716 to €3,666
- Profit (loss) carried forward +€23,469
up €23,469, from -€249 to €23,221
- Other debts -€6,022
no longer reported in 2025 (was €6,022)
- Tax, wage and social debts +€5,761
up €5,761 (+1,868%), from €308 to €6,069
- Gross operating margin +€32,065
up €32,065 (+5,269%), from €609 to €32,673
- Taxes +€6,975
up €6,975 (+2,262%), from €308 to €7,284
- Financial charges +€974
up €974 (+275%), from €355 to €1,329
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 | €10,085 | €33,373 | +€23,288 | +231% |
| Fixed assets | 21/28 | €1,716 | €3,666 | +€1,950 | +114% |
| Tangible fixed assets | 22/27 | €1,716 | €3,666 | +€1,950 | +114% |
| Furniture and vehicles | 24 | €1,716 | €3,666 | +€1,950 | +114% |
| Current assets | 29/58 | €8,370 | €29,708 | +€21,338 | +255% |
| Amounts receivable within one year | 40/41 | - | €7,816 | +€7,816 | |
| Other amounts receivable | 41 | - | €7,816 | +€7,816 | |
| Cash at bank and in hand | 54/58 | €4,763 | €12,063 | +€7,300 | +153% |
| Deferred charges and accrued income | 490/1 | €3,606 | €9,829 | +€6,222 | +173% |
| Total equity and liabilities | 10/49 | €10,085 | €33,373 | +€23,288 | +231% |
| Equity | 10/15 | €2,751 | €26,221 | +€23,469 | +853% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€249 | €23,221 | +€23,469 | |
| Amounts payable | 17/49 | €7,334 | €7,153 | -€181 | -2.5% |
| Amounts payable within one year | 42/48 | €7,334 | €7,153 | -€181 | -2.5% |
| Trade debts | 44 | €1,004 | €1,084 | +€80 | +8.0% |
| Suppliers | 440/4 | €1,004 | €1,084 | +€80 | +8.0% |
| Taxes, remuneration and social security | 45 | €308 | €6,069 | +€5,761 | +1,868% |
| Taxes | 450/3 | €308 | €6,069 | +€5,761 | +1,868% |
| Other amounts payable | 47/48 | €6,022 | - | -€6,022 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99 | €363 | +€264 | +266% |
| Other operating charges | 640/8 | €95 | €228 | +€133 | +140% |
| Gross operating margin | 9900 | €609 | €32,673 | +€32,065 | +5,269% |
| Operating profit (loss) | 9901 | €414 | €32,082 | +€31,668 | +7,648% |
| Financial charges | 65/66B | €355 | €1,329 | +€974 | +275% |
| Recurring financial charges | 65 | €355 | €1,329 | +€974 | +275% |
| Profit (loss) for the period before taxes | 9903 | €59 | €30,753 | +€30,693 | +51,629% |
| Income taxes | 67/77 | €308 | €7,284 | +€6,975 | +2,262% |
| Profit (loss) for the period | 9904 | -€249 | €23,469 | +€23,718 | |
| Profit (loss) for the period to be appropriated | 9905 | -€249 | €23,469 | +€23,718 |
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 16 October 2026 via checked.be.