SM CONCEPT: 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.
SM CONCEPT
Largest movements
- Receivables within one year +€31,205
up €31,205 (+49.0%), from €63,654 to €94,859
of which Trade receivables: +€31,734
- Cash +€12,617
up €12,617 (+75.1%), from €16,805 to €29,422
mainly Net result for the year (+€16,577) and Trade debts (+€13,726)
- Tangible fixed assets -€5,321
down €5,321 (-82.0%), from €6,485 to €1,165
- Profit (loss) carried forward +€16,577
up €16,577 (+73.7%), from €22,481 to €39,058
- Trade debts +€13,726
up €13,726 (+50.5%), from €27,166 to €40,892
- Other debts +€6,027
up €6,027 (+51.5%), from €11,697 to €17,724
- Tax, wage and social debts +€2,237
up €2,237 (+27.2%), from €8,233 to €10,470
of which Remuneration and social security: +€3,797
- Gross operating margin +€44,566
up €44,566, from -€22,488 to €22,078
- Depreciation +€2,162
up €2,162 (+68.4%), from €3,159 to €5,321
- Taxes -€1,534
no longer reported in 2025 (was €1,534)
- Financial charges -€306
down €306 (-62.9%), from €486 to €180
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 | €88,189 | €126,743 | +€38,554 | +43.7% |
| Fixed assets | 21/28 | €6,485 | €1,165 | -€5,321 | -82.0% |
| Tangible fixed assets | 22/27 | €6,485 | €1,165 | -€5,321 | -82.0% |
| Furniture and vehicles | 24 | €6,485 | €1,165 | -€5,321 | -82.0% |
| Current assets | 29/58 | €81,704 | €125,579 | +€43,875 | +53.7% |
| Amounts receivable within one year | 40/41 | €63,654 | €94,859 | +€31,205 | +49.0% |
| Trade receivables | 40 | €62,694 | €94,428 | +€31,734 | +50.6% |
| Other amounts receivable | 41 | €960 | €431 | -€529 | -55.1% |
| Cash at bank and in hand | 54/58 | €16,805 | €29,422 | +€12,617 | +75.1% |
| Deferred charges and accrued income | 490/1 | €1,244 | €1,297 | +€53 | +4.3% |
| Total equity and liabilities | 10/49 | €88,189 | €126,743 | +€38,554 | +43.7% |
| Equity | 10/15 | €41,081 | €57,658 | +€16,577 | +40.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,481 | €39,058 | +€16,577 | +73.7% |
| Amounts payable | 17/49 | €47,108 | €69,086 | +€21,977 | +46.7% |
| Amounts payable within one year | 42/48 | €47,096 | €69,086 | +€21,990 | +46.7% |
| Trade debts | 44 | €27,166 | €40,892 | +€13,726 | +50.5% |
| Suppliers | 440/4 | €27,166 | €40,892 | +€13,726 | +50.5% |
| Taxes, remuneration and social security | 45 | €8,233 | €10,470 | +€2,237 | +27.2% |
| Taxes | 450/3 | €1,681 | €121 | -€1,560 | -92.8% |
| Remuneration and social security | 454/9 | €6,552 | €10,349 | +€3,797 | +58.0% |
| Other amounts payable | 47/48 | €11,697 | €17,724 | +€6,027 | +51.5% |
| Accrued charges and deferred income | 492/3 | €12 | - | -€12 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,159 | €5,321 | +€2,162 | +68.4% |
| Gross operating margin | 9900 | -€22,488 | €22,078 | +€44,566 | |
| Operating profit (loss) | 9901 | -€25,647 | €16,757 | +€42,405 | |
| Financial charges | 65/66B | €486 | €180 | -€306 | -62.9% |
| Recurring financial charges | 65 | €486 | €180 | -€306 | -62.9% |
| Profit (loss) for the period before taxes | 9903 | -€26,133 | €16,577 | +€42,710 | |
| Income taxes | 67/77 | €1,534 | - | -€1,534 | |
| Profit (loss) for the period | 9904 | -€27,667 | €16,577 | +€44,244 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,667 | €16,577 | +€44,244 |
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 10 October 2026 via checked.be.