SMAAFALYS: what changed
Two fiscal 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.
SMAAFALYS
Largest movements
- Tangible fixed assets -€866
down €866 (-68.8%), from €1,259 to €393
of which Plant, machinery and equipment: -€474
- Receivables within one year +€665
new in 2025: €665
- Cash +€151
new in 2025: €151
mainly Tax, wage and social debts (+€3,635) and Depreciation (+€866)
- Tax, wage and social debts +€3,635
up €3,635 (+219.7%), from €1,654 to €5,289
- Profit (loss) carried forward -€1,673
down €1,673 (-1.4%), from -€122,530 to -€124,203
- Trade debts -€1,506
down €1,506 (-28.7%), from €5,246 to €3,740
- Other debts -€648
down €648 (-0.7%), from €99,627 to €98,978
- Short-term financial debts +€552
up €552 (+33.5%), from €1,647 to €2,199
- Purchases and services -€48,384
no longer reported in 2025 (was €48,384)
- Turnover -€41,211
no longer reported in 2025 (was €41,211)
- Gross operating margin +€8,591
up €8,591, from -€7,173 to €1,418
- Other operating charges +€561
up €561 (+72.8%), from €771 to €1,331
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 | €1,459 | €1,410 | -€50 | -3.4% |
| Fixed assets | 21/28 | €1,459 | €593 | -€866 | -59.3% |
| Tangible fixed assets | 22/27 | €1,259 | €393 | -€866 | -68.8% |
| Plant, machinery and equipment | 23 | €738 | €264 | -€474 | -64.2% |
| Furniture and vehicles | 24 | €521 | €129 | -€392 | -75.2% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | - | €816 | +€816 | |
| Amounts receivable within one year | 40/41 | - | €665 | +€665 | |
| Trade receivables | 40 | - | €665 | +€665 | |
| Cash at bank and in hand | 54/58 | - | €151 | +€151 | |
| Total equity and liabilities | 10/49 | €1,459 | €1,410 | -€50 | -3.4% |
| Equity | 10/15 | -€115,283 | -€116,956 | -€1,673 | -1.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,047 | €1,047 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,047 | €1,047 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,047 | €1,047 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€122,530 | -€124,203 | -€1,673 | -1.4% |
| Amounts payable | 17/49 | €116,743 | €118,366 | +€1,623 | +1.4% |
| Amounts payable within one year | 42/48 | €116,743 | €118,366 | +€1,623 | +1.4% |
| Financial debts | 43 | €1,647 | €2,199 | +€552 | +33.5% |
| Credit institutions | 430/8 | €1,647 | €2,199 | +€552 | +33.5% |
| Trade debts | 44 | €5,246 | €3,740 | -€1,506 | -28.7% |
| Suppliers | 440/4 | €5,246 | €3,740 | -€1,506 | -28.7% |
| Advances received on contracts in progress | 46 | €8,569 | €8,160 | -€410 | -4.8% |
| Taxes, remuneration and social security | 45 | €1,654 | €5,289 | +€3,635 | +219.7% |
| Taxes | 450/3 | €1,654 | €5,289 | +€3,635 | +219.7% |
| Other amounts payable | 47/48 | €99,627 | €98,978 | -€648 | -0.7% |
| Turnover | 70 | €41,211 | - | -€41,211 | |
| Goods, raw materials, services and sundry goods | 60/61 | €48,384 | - | -€48,384 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,039 | €866 | -€173 | -16.6% |
| Other operating charges | 640/8 | €771 | €1,331 | +€561 | +72.8% |
| Gross operating margin | 9900 | -€7,173 | €1,418 | +€8,591 | |
| Operating profit (loss) | 9901 | -€8,983 | -€780 | +€8,203 | +91.3% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €1,043 | €893 | -€150 | -14.4% |
| Recurring financial charges | 65 | €1,043 | €893 | -€150 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | -€10,020 | -€1,673 | +€8,348 | +83.3% |
| Profit (loss) for the period | 9904 | -€10,020 | -€1,673 | +€8,348 | +83.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,020 | -€1,673 | +€8,348 | +83.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.