SM6: 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.
SM6
Largest movements
- Receivables within one year +€83,915
up €83,915 (+101%), from €83,061 to €166,976
- Cash -€5,465
down €5,465 (-90.7%), from €6,028 to €562
mainly Receivables within one year (-€83,915) and Investment in fixed assets (net) (-€5,290)
- Tangible fixed assets -€3,673
down €3,673 (-12.1%), from €30,360 to €26,686
of which Furniture and vehicles: -€4,951
- Trade debts +€39,481
up €39,481 (+892%), from €4,428 to €43,909
- Profit (loss) carried forward +€32,988
up €32,988 (+36.5%), from €90,297 to €123,285
- Tax, wage and social debts +€5,193
up €5,193 (+160%), from €3,239 to €8,433
- Current portion of long-term debt -€2,140
down €2,140 (-74.1%), from €2,887 to €747
- Gross operating margin +€18,384
up €18,384 (+36.7%), from €50,078 to €68,462
- Taxes +€5,464
up €5,464 (+184%), from €2,969 to €8,433
- Staff costs -€5,111
down €5,111 (-20.3%), from €25,198 to €20,087
- Financial income +€3,116
up €3,116 (+87.4%), from €3,564 to €6,680
- Depreciation -€2,603
down €2,603 (-22.5%), from €11,566 to €8,963
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 | €123,449 | €198,225 | +€74,776 | +60.6% |
| Fixed assets | 21/28 | €34,360 | €30,686 | -€3,673 | -10.7% |
| Tangible fixed assets | 22/27 | €30,360 | €26,686 | -€3,673 | -12.1% |
| Plant, machinery and equipment | 23 | €11,947 | €13,225 | +€1,277 | +10.7% |
| Furniture and vehicles | 24 | €18,412 | €13,462 | -€4,951 | -26.9% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €89,089 | €167,539 | +€78,450 | +88.1% |
| Amounts receivable within one year | 40/41 | €83,061 | €166,976 | +€83,915 | +101% |
| Other amounts receivable | 41 | €83,061 | €166,976 | +€83,915 | +101% |
| Cash at bank and in hand | 54/58 | €6,028 | €562 | -€5,465 | -90.7% |
| Total equity and liabilities | 10/49 | €123,449 | €198,225 | +€74,776 | +60.6% |
| Equity | 10/15 | €112,148 | €145,136 | +€32,988 | +29.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,852 | €1,852 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,852 | €1,852 | = | 0.0% |
| Legal reserve | 130 | €1,852 | €1,852 | = | 0.0% |
| Profit (loss) carried forward | 14 | €90,297 | €123,285 | +€32,988 | +36.5% |
| Amounts payable | 17/49 | €11,301 | €53,089 | +€41,788 | +370% |
| Amounts payable after more than one year | 17 | €747 | - | -€747 | |
| Financial debts | 170/4 | €747 | - | -€747 | |
| Amounts payable within one year | 42/48 | €10,554 | €53,089 | +€42,535 | +403% |
| Current portion of amounts payable after more than one year | 42 | €2,887 | €747 | -€2,140 | -74.1% |
| Trade debts | 44 | €4,428 | €43,909 | +€39,481 | +892% |
| Suppliers | 440/4 | €4,428 | €43,909 | +€39,481 | +892% |
| Taxes, remuneration and social security | 45 | €3,239 | €8,433 | +€5,193 | +160% |
| Taxes | 450/3 | €3,239 | €8,433 | +€5,193 | +160% |
| Remuneration, social security and pensions | 62 | €25,198 | €20,087 | -€5,111 | -20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,566 | €8,963 | -€2,603 | -22.5% |
| Other operating charges | 640/8 | €2,176 | €2,546 | +€370 | +17.0% |
| Gross operating margin | 9900 | €50,078 | €68,462 | +€18,384 | +36.7% |
| Operating profit (loss) | 9901 | €11,138 | €36,865 | +€25,727 | +231% |
| Financial income | 75/76B | €3,564 | €6,680 | +€3,116 | +87.4% |
| Recurring financial income | 75 | €3,564 | €6,680 | +€3,116 | +87.4% |
| Financial charges | 65/66B | €282 | €2,125 | +€1,843 | +654% |
| Recurring financial charges | 65 | €282 | €2,125 | +€1,843 | +654% |
| Profit (loss) for the period before taxes | 9903 | €14,420 | €41,421 | +€27,000 | +187% |
| Income taxes | 67/77 | €2,969 | €8,433 | +€5,464 | +184% |
| Profit (loss) for the period | 9904 | €11,452 | €32,988 | +€21,537 | +188% |
| Profit (loss) for the period to be appropriated | 9905 | €11,452 | €32,988 | +€21,537 | +188% |
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 15 October 2026 via checked.be.