SM2 Group: 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.
SM2 Group
Largest movements
- Tangible fixed assets +€12,853
new in 2025: €12,853
of which Land and buildings: +€6,799
- Cash +€3,707
up €3,707 (+39140.5%), from €9 to €3,716
mainly Other debts (+€8,841) and Trade debts (+€4,164)
- Financial fixed assets +€3,000
new in 2025: €3,000
- Receivables within one year -€1,764
down €1,764 (-83.2%), from €2,119 to €355
of which Trade receivables: -€1,146
- Other debts +€8,841
up €8,841 (+93.1%), from €9,493 to €18,334
- Trade debts +€4,164
up €4,164 (+1231.0%), from €338 to €4,502
- Profit (loss) carried forward +€3,523
up €3,523 (+19.8%), from -€17,796 to -€14,273
- Tax, wage and social debts +€1,268
up €1,268 (+1365.3%), from €93 to €1,361
- Gross operating margin +€7,598
up €7,598, from -€2,930 to €4,668
- Staff costs +€560
new in 2025: €560
- Financial charges +€229
up €229 (+174.8%), from €131 to €360
- Depreciation +€113
new in 2025: €113
- Other operating charges -€63
down €63 (-34.4%), from €183 to €120
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 | €2,129 | €19,925 | +€17,796 | +835.9% |
| Fixed assets | 21/28 | - | €15,853 | +€15,853 | |
| Tangible fixed assets | 22/27 | - | €12,853 | +€12,853 | |
| Land and buildings | 22 | - | €6,799 | +€6,799 | |
| Plant, machinery and equipment | 23 | - | €6,054 | +€6,054 | |
| Financial fixed assets | 28 | - | €3,000 | +€3,000 | |
| Current assets | 29/58 | €2,129 | €4,072 | +€1,943 | +91.3% |
| Amounts receivable within one year | 40/41 | €2,119 | €355 | -€1,764 | -83.2% |
| Trade receivables | 40 | €1,146 | - | -€1,146 | |
| Other amounts receivable | 41 | €973 | €355 | -€618 | -63.5% |
| Cash at bank and in hand | 54/58 | €9 | €3,716 | +€3,707 | +39140.5% |
| Deferred charges and accrued income | 490/1 | - | €1 | +€1 | |
| Total equity and liabilities | 10/49 | €2,129 | €19,925 | +€17,796 | +835.9% |
| Equity | 10/15 | -€7,796 | -€4,273 | +€3,523 | +45.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,796 | -€14,273 | +€3,523 | +19.8% |
| Amounts payable | 17/49 | €9,925 | €24,198 | +€14,273 | +143.8% |
| Amounts payable within one year | 42/48 | €9,925 | €24,198 | +€14,273 | +143.8% |
| Trade debts | 44 | €338 | €4,502 | +€4,164 | +1231.0% |
| Suppliers | 440/4 | €338 | €4,502 | +€4,164 | +1231.0% |
| Taxes, remuneration and social security | 45 | €93 | €1,361 | +€1,268 | +1365.3% |
| Taxes | 450/3 | €93 | €1,361 | +€1,268 | +1365.3% |
| Other amounts payable | 47/48 | €9,493 | €18,334 | +€8,841 | +93.1% |
| Remuneration, social security and pensions | 62 | - | €560 | +€560 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €113 | +€113 | |
| Other operating charges | 640/8 | €183 | €120 | -€63 | -34.4% |
| Gross operating margin | 9900 | -€2,930 | €4,668 | +€7,598 | |
| Operating profit (loss) | 9901 | -€3,113 | €3,874 | +€6,988 | |
| Financial income | 75/76B | €2 | €8 | +€6 | +379.5% |
| Recurring financial income | 75 | €2 | €8 | +€6 | +379.5% |
| Financial charges | 65/66B | €131 | €360 | +€229 | +174.8% |
| Recurring financial charges | 65 | €131 | €360 | +€229 | +174.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,243 | €3,522 | +€6,765 | |
| Profit (loss) for the period | 9904 | -€3,243 | €3,522 | +€6,765 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,243 | €3,522 | +€6,765 |
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 9 October 2026 via checked.be.