SMA Consulting: 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.
SMA Consulting
Largest movements
- Receivables after one year +€53,263
new in 2025: €53,263
- Tangible fixed assets -€22,243
down €22,243 (-2.9%), from €760,809 to €738,566
of which Furniture and vehicles: -€27,075
- Intangible fixed assets -€14,100
down €14,100 (-4.0%), from €349,348 to €335,248
- Reserves +€40,000
up €40,000 (+2,139%), from €1,870 to €41,870
of which Distributable reserves: +€40,000
- Other debts -€21,866
no longer reported in 2025 (was €21,866)
- Trade debts +€16,581
up €16,581 (+98.7%), from €16,805 to €33,385
- Tax, wage and social debts -€13,613
down €13,613 (-11.3%), from €120,558 to €106,945
of which Taxes: -€14,218
- Financial charges +€29,434
up €29,434 (+269%), from €10,930 to €40,364
- Taxes -€12,397
down €12,397 (-43.4%), from €28,561 to €16,164
- Depreciation +€10,005
up €10,005 (+34.3%), from €29,162 to €39,167
- Staff costs +€5,910
up €5,910 (+389%), from €1,520 to €7,431
- Gross operating margin -€5,652
down €5,652 (-3.4%), from €164,666 to €159,014
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 | €1,151,241 | €1,180,115 | +€28,874 | +2.5% |
| Fixed assets | 21/28 | €1,110,332 | €1,074,199 | -€36,133 | -3.3% |
| Intangible fixed assets | 21 | €349,348 | €335,248 | -€14,100 | -4.0% |
| Tangible fixed assets | 22/27 | €760,809 | €738,566 | -€22,243 | -2.9% |
| Land and buildings | 22 | €730,200 | €735,192 | +€4,992 | +0.7% |
| Plant, machinery and equipment | 23 | €160 | €0 | -€160 | -100% |
| Furniture and vehicles | 24 | €30,448 | €3,373 | -€27,075 | -88.9% |
| Financial fixed assets | 28 | €175 | €385 | +€210 | +120% |
| Current assets | 29/58 | €40,909 | €105,917 | +€65,007 | +159% |
| Amounts receivable after more than one year | 29 | - | €53,263 | +€53,263 | |
| Other amounts receivable | 291 | - | €53,263 | +€53,263 | |
| Amounts receivable within one year | 40/41 | €40,617 | €47,848 | +€7,231 | +17.8% |
| Trade receivables | 40 | €40,617 | €45,012 | +€4,395 | +10.8% |
| Other amounts receivable | 41 | - | €2,836 | +€2,836 | |
| Cash at bank and in hand | 54/58 | €0 | €28 | +€28 | |
| Deferred charges and accrued income | 490/1 | €292 | €4,778 | +€4,486 | +1,536% |
| Total equity and liabilities | 10/49 | €1,151,241 | €1,180,115 | +€28,874 | +2.5% |
| Equity | 10/15 | €72,791 | €112,498 | +€39,707 | +54.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,870 | €41,870 | +€40,000 | +2,139% |
| Non-distributable reserves | 130/1 | €1,870 | €1,870 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,870 | €1,870 | = | 0.0% |
| Distributable reserves | 133 | - | €40,000 | +€40,000 | |
| Profit (loss) carried forward | 14 | €52,321 | €52,028 | -€293 | -0.6% |
| Amounts payable | 17/49 | €1,078,450 | €1,067,618 | -€10,832 | -1.0% |
| Amounts payable after more than one year | 17 | €856,161 | €848,847 | -€7,313 | -0.9% |
| Financial debts | 170/4 | €856,161 | €848,847 | -€7,313 | -0.9% |
| Amounts payable within one year | 42/48 | €222,289 | €218,770 | -€3,519 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €60,400 | €70,457 | +€10,057 | +16.7% |
| Financial debts | 43 | €2,660 | €7,983 | +€5,322 | +200% |
| Credit institutions | 430/8 | €2,660 | €7,983 | +€5,322 | +200% |
| Trade debts | 44 | €16,805 | €33,385 | +€16,581 | +98.7% |
| Suppliers | 440/4 | €16,805 | €33,385 | +€16,581 | +98.7% |
| Taxes, remuneration and social security | 45 | €120,558 | €106,945 | -€13,613 | -11.3% |
| Taxes | 450/3 | €120,558 | €106,340 | -€14,218 | -11.8% |
| Remuneration and social security | 454/9 | - | €605 | +€605 | |
| Other amounts payable | 47/48 | €21,866 | - | -€21,866 | |
| Remuneration, social security and pensions | 62 | €1,520 | €7,431 | +€5,910 | +389% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,162 | €39,167 | +€10,005 | +34.3% |
| Other operating charges | 640/8 | €4,836 | €271 | -€4,566 | -94.4% |
| Non-recurring operating charges | 66A | €30,000 | €15,911 | -€14,089 | -47.0% |
| Gross operating margin | 9900 | €164,666 | €159,014 | -€5,652 | -3.4% |
| Operating profit (loss) | 9901 | €99,147 | €96,234 | -€2,913 | -2.9% |
| Financial income | 75/76B | €141 | €0 | -€141 | -100.0% |
| Recurring financial income | 75 | €141 | €0 | -€141 | -100.0% |
| Financial charges | 65/66B | €10,930 | €40,364 | +€29,434 | +269% |
| Recurring financial charges | 65 | €10,930 | €40,364 | +€29,434 | +269% |
| Profit (loss) for the period before taxes | 9903 | €88,358 | €55,870 | -€32,488 | -36.8% |
| Income taxes | 67/77 | €28,561 | €16,164 | -€12,397 | -43.4% |
| Profit (loss) for the period | 9904 | €59,798 | €39,707 | -€20,091 | -33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €59,798 | €39,707 | -€20,091 | -33.6% |
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 13 October 2026 via checked.be.