MD SMILE STUDIO: 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.
MD SMILE STUDIO
Largest movements
- Cash +€6,627
up €6,627 (+9.9%), from €66,608 to €73,235
mainly Net result for the year (+€84,938) and Depreciation (+€15,493)
- Tangible fixed assets -€6,467
down €6,467 (-21.2%), from €30,536 to €24,068
of which Leasing and similar rights: -€11,734
- Deferred charges and accrued income -€4,542
down €4,542 (-17.9%), from €25,388 to €20,845
- Current portion of long-term debt -€13,600
down €13,600 (-91.6%), from €14,843 to €1,243
- Tax, wage and social debts +€7,495
up €7,495 (+500%), from €1,500 to €8,995
of which Taxes: +€7,495
- Reserves +€4,938
up €4,938 (+3.5%), from €140,817 to €145,754
- Gross operating margin +€25,618
up €25,618 (+25.5%), from €100,313 to €125,930
- Taxes +€6,601
up €6,601 (+40.3%), from €16,392 to €22,994
- Other operating charges -€4,475
down €4,475 (-52.7%), from €8,488 to €4,013
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 | €162,921 | €159,388 | -€3,534 | -2.2% |
| Fixed assets | 21/28 | €30,536 | €24,068 | -€6,467 | -21.2% |
| Tangible fixed assets | 22/27 | €30,536 | €24,068 | -€6,467 | -21.2% |
| Plant, machinery and equipment | 23 | €5,428 | €10,694 | +€5,267 | +97.0% |
| Leasing and similar rights | 25 | €25,108 | €13,374 | -€11,734 | -46.7% |
| Current assets | 29/58 | €132,386 | €135,319 | +€2,934 | +2.2% |
| Amounts receivable within one year | 40/41 | €40,390 | €41,239 | +€849 | +2.1% |
| Other amounts receivable | 41 | €40,390 | €41,239 | +€849 | +2.1% |
| Cash at bank and in hand | 54/58 | €66,608 | €73,235 | +€6,627 | +9.9% |
| Deferred charges and accrued income | 490/1 | €25,388 | €20,845 | -€4,542 | -17.9% |
| Total equity and liabilities | 10/49 | €162,921 | €159,388 | -€3,534 | -2.2% |
| Equity | 10/15 | €143,817 | €148,754 | +€4,938 | +3.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €140,817 | €145,754 | +€4,938 | +3.5% |
| Distributable reserves | 133 | €140,817 | €145,754 | +€4,938 | +3.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €19,105 | €10,633 | -€8,471 | -44.3% |
| Amounts payable after more than one year | 17 | €1,243 | €0 | -€1,243 | -100% |
| Financial debts | 170/4 | €1,243 | €0 | -€1,243 | -100% |
| Amounts payable within one year | 42/48 | €17,862 | €10,633 | -€7,229 | -40.5% |
| Current portion of amounts payable after more than one year | 42 | €14,843 | €1,243 | -€13,600 | -91.6% |
| Financial debts | 43 | - | €376 | +€376 | |
| Credit institutions | 430/8 | - | €376 | +€376 | |
| Trade debts | 44 | €1,520 | €20 | -€1,500 | -98.7% |
| Suppliers | 440/4 | €1,520 | €20 | -€1,500 | -98.7% |
| Taxes, remuneration and social security | 45 | €1,500 | €8,995 | +€7,495 | +500% |
| Taxes | 450/3 | €1,500 | €8,995 | +€7,495 | +500% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,133 | €15,493 | -€640 | -4.0% |
| Other operating charges | 640/8 | €8,488 | €4,013 | -€4,475 | -52.7% |
| Gross operating margin | 9900 | €100,313 | €125,930 | +€25,618 | +25.5% |
| Operating profit (loss) | 9901 | €75,692 | €106,425 | +€30,733 | +40.6% |
| Financial income | 75/76B | €1,297 | €1,671 | +€374 | +28.8% |
| Recurring financial income | 75 | €1,297 | €1,671 | +€374 | +28.8% |
| Financial charges | 65/66B | €285 | €165 | -€120 | -42.2% |
| Recurring financial charges | 65 | €285 | €165 | -€120 | -42.2% |
| Profit (loss) for the period before taxes | 9903 | €76,704 | €107,931 | +€31,227 | +40.7% |
| Income taxes | 67/77 | €16,392 | €22,994 | +€6,601 | +40.3% |
| Profit (loss) for the period | 9904 | €60,312 | €84,938 | +€24,626 | +40.8% |
| Profit (loss) for the period to be appropriated | 9905 | €60,312 | €84,938 | +€24,626 | +40.8% |
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 21 October 2026 via checked.be.