S.M. SYSTEMS: 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.
S.M. SYSTEMS
Largest movements
- Receivables within one year -€28,380
down €28,380 (-56.1%), from €50,586 to €22,206
of which Trade receivables: -€35,673
- Cash -€944
down €944 (-90.2%), from €1,046 to €102
mainly Current portion of long-term debt (-€14,255) and Debts after one year (-€13,016)
- Current portion of long-term debt -€14,255
down €14,255 (-48.4%), from €29,475 to €15,220
- Debts after one year -€13,016
no longer reported in 2024 (was €13,016)
- Profit (loss) carried forward -€3,546
down €3,546 (-8.5%), from -€41,916 to -€45,462
- Trade debts +€2,409
up €2,409 (+1,709%), from €141 to €2,550
- Other debts -€1,000
no longer reported in 2024 (was €1,000)
- Purchases and services -€127,467
down €127,467 (-80.7%), from €157,955 to €30,488
- Turnover -€125,943
down €125,943 (-81.1%), from €155,262 to €29,319
- Taxes -€2,867
no longer reported in 2024 (was €2,867)
- Financial income -€2,346
down €2,346 (-89.3%), from €2,626 to €280
of which Non-recurring financial income: -€2,626
- Other operating charges -€1,563
down €1,563 (-84.8%), from €1,843 to €280
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,716 | €22,308 | -€29,408 | -56.9% |
| Fixed assets | 21/28 | €42 | - | -€42 | |
| Tangible fixed assets | 22/27 | €42 | - | -€42 | |
| Plant, machinery and equipment | 23 | €42 | - | -€42 | |
| Current assets | 29/58 | €51,674 | €22,308 | -€29,366 | -56.8% |
| Amounts receivable within one year | 40/41 | €50,586 | €22,206 | -€28,380 | -56.1% |
| Trade receivables | 40 | €35,973 | €300 | -€35,673 | -99.2% |
| Other amounts receivable | 41 | €14,613 | €21,906 | +€7,293 | +49.9% |
| Cash at bank and in hand | 54/58 | €1,046 | €102 | -€944 | -90.2% |
| Deferred charges and accrued income | 490/1 | €42 | - | -€42 | |
| Total equity and liabilities | 10/49 | €51,716 | €22,308 | -€29,408 | -56.9% |
| Equity | 10/15 | €8,084 | €4,538 | -€3,546 | -43.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,916 | -€45,462 | -€3,546 | -8.5% |
| Amounts payable | 17/49 | €43,632 | €17,770 | -€25,862 | -59.3% |
| Amounts payable after more than one year | 17 | €13,016 | - | -€13,016 | |
| Financial debts | 170/4 | €13,016 | - | -€13,016 | |
| Amounts payable within one year | 42/48 | €30,616 | €17,770 | -€12,846 | -42.0% |
| Current portion of amounts payable after more than one year | 42 | €29,475 | €15,220 | -€14,255 | -48.4% |
| Trade debts | 44 | €141 | €2,550 | +€2,409 | +1,709% |
| Suppliers | 440/4 | €141 | €2,550 | +€2,409 | +1,709% |
| Other amounts payable | 47/48 | €1,000 | - | -€1,000 | |
| Turnover | 70 | €155,262 | €29,319 | -€125,943 | -81.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €157,955 | €30,488 | -€127,467 | -80.7% |
| Remuneration, social security and pensions | 62 | €160 | €255 | +€95 | +59.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €843 | €42 | -€801 | -95.0% |
| Other operating charges | 640/8 | €1,843 | €280 | -€1,563 | -84.8% |
| Gross operating margin | 9900 | -€286 | -€1,169 | -€883 | -309% |
| Operating profit (loss) | 9901 | -€3,132 | -€1,746 | +€1,386 | +44.3% |
| Financial income | 75/76B | €2,626 | €280 | -€2,346 | -89.3% |
| Recurring financial income | 75 | €2,626 | €280 | -€2,346 | -89.3% |
| Non-recurring financial income | 76B | €2,626 | - | -€2,626 | |
| Financial charges | 65/66B | €2,764 | €2,080 | -€684 | -24.7% |
| Recurring financial charges | 65 | €2,764 | €2,080 | -€684 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,270 | -€3,546 | -€276 | -8.4% |
| Income taxes | 67/77 | €2,867 | - | -€2,867 | |
| Profit (loss) for the period | 9904 | -€6,137 | -€3,546 | +€2,591 | +42.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,137 | -€3,546 | +€2,591 | +42.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.