SM BUSINESS SERVICES: what changed
SM BUSINESS SERVICES
Largest movements
- Cash +€10,891
up €10,891 (+47.7%), from €22,823 to €33,714
mainly Depreciation (+€9,292) and Receivables within one year (+€4,605)
- Tangible fixed assets -€9,292
down €9,292 (-43.5%), from €21,376 to €12,084
- Receivables within one year -€4,605
down €4,605 (-54.9%), from €8,387 to €3,782
of which Trade receivables: -€3,967
- Stocks and contracts -€1,150
no longer reported in 2025 (was €1,150)
- Deferred charges and accrued income -€856
down €856 (-44.9%), from €1,906 to €1,051
- Other debts -€5,500
down €5,500 (-30.3%), from €18,166 to €12,666
- Profit (loss) carried forward +€1,522
up €1,522 (+9.2%), from €16,476 to €17,998
- Trade debts -€1,328
down €1,328 (-13.4%), from €9,944 to €8,616
- Gross operating margin +€7,967
up €7,967 (+150%), from €5,327 to €13,294
- Depreciation +€4,438
up €4,438 (+91.4%), from €4,854 to €9,292
- Taxes +€551
new in 2025: €551
- Other operating charges -€318
down €318 (-14.9%), from €2,133 to €1,816
- Staff costs -€312
no longer reported in 2025 (was €312)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €55,843 | €50,831 | -€5,012 | -9.0% |
| Fixed assets | 21/28 | €21,576 | €12,284 | -€9,292 | -43.1% |
| Tangible fixed assets | 22/27 | €21,376 | €12,084 | -€9,292 | -43.5% |
| Furniture and vehicles | 24 | €21,376 | €12,084 | -€9,292 | -43.5% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €34,266 | €38,547 | +€4,280 | +12.5% |
| Stocks and contracts in progress | 3 | €1,150 | - | -€1,150 | |
| Stocks | 30/36 | €1,150 | - | -€1,150 | |
| Amounts receivable within one year | 40/41 | €8,387 | €3,782 | -€4,605 | -54.9% |
| Trade receivables | 40 | €7,603 | €3,636 | -€3,967 | -52.2% |
| Other amounts receivable | 41 | €784 | €146 | -€638 | -81.4% |
| Cash at bank and in hand | 54/58 | €22,823 | €33,714 | +€10,891 | +47.7% |
| Deferred charges and accrued income | 490/1 | €1,906 | €1,051 | -€856 | -44.9% |
| Total equity and liabilities | 10/49 | €55,843 | €50,831 | -€5,012 | -9.0% |
| Equity | 10/15 | €27,476 | €28,998 | +€1,522 | +5.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €1,000 | €1,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,000 | €1,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,476 | €17,998 | +€1,522 | +9.2% |
| Amounts payable | 17/49 | €28,367 | €21,833 | -€6,534 | -23.0% |
| Amounts payable within one year | 42/48 | €28,367 | €21,833 | -€6,534 | -23.0% |
| Trade debts | 44 | €9,944 | €8,616 | -€1,328 | -13.4% |
| Suppliers | 440/4 | €9,944 | €8,616 | -€1,328 | -13.4% |
| Taxes, remuneration and social security | 45 | €257 | €551 | +€294 | +115% |
| Taxes | 450/3 | €257 | €551 | +€294 | +115% |
| Other amounts payable | 47/48 | €18,166 | €12,666 | -€5,500 | -30.3% |
| Remuneration, social security and pensions | 62 | €312 | - | -€312 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,854 | €9,292 | +€4,438 | +91.4% |
| Other operating charges | 640/8 | €2,133 | €1,816 | -€318 | -14.9% |
| Gross operating margin | 9900 | €5,327 | €13,294 | +€7,967 | +150% |
| Operating profit (loss) | 9901 | -€1,971 | €2,186 | +€4,158 | |
| Financial income | 75/76B | - | €50 | +€50 | |
| Recurring financial income | 75 | - | €50 | +€50 | |
| Financial charges | 65/66B | €153 | €163 | +€10 | +6.4% |
| Recurring financial charges | 65 | €153 | €163 | +€10 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,124 | €2,073 | +€4,197 | |
| Income taxes | 67/77 | - | €551 | +€551 | |
| Profit (loss) for the period | 9904 | -€2,124 | €1,522 | +€3,646 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,124 | €1,522 | +€3,646 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.