SMAAKATELIER: 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.
SMAAKATELIER
Largest movements
- Cash +€6,694
new in 2026: €6,694
mainly Trade debts (+€19,328) and Depreciation (+€7,881)
- Tangible fixed assets +€5,793
up €5,793 (+48.6%), from €11,922 to €17,715
of which Plant, machinery and equipment: +€6,035
- Receivables within one year +€4,069
up €4,069 (+4.6%), from €89,009 to €93,078
of which Other amounts receivable: +€4,872
- Trade debts +€19,328
up €19,328 (+40.4%), from €47,834 to €67,161
- Reserves +€7,606
up €7,606 (+92.4%), from €8,233 to €15,838
of which Tax-exempt reserves: +€15,838
- Short-term financial debts -€4,599
no longer reported in 2026 (was €4,599)
- Current portion of long-term debt -€3,633
down €3,633 (-56.7%), from €6,411 to €2,778
- Debts after one year -€2,255
no longer reported in 2026 (was €2,255)
- Gross operating margin -€13,848
down €13,848 (-21.9%), from €63,279 to €49,431
- Staff costs -€8,962
down €8,962 (-21.8%), from €41,050 to €32,088
- Financial income +€4,637
up €4,637 (+89.9%), from €5,160 to €9,797
of which Non-recurring financial income: +€5,044
- Financial charges -€1,525
down €1,525 (-16.8%), from €9,060 to €7,535
- Taxes +€1,387
up €1,387 (+70.4%), from €1,971 to €3,358
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €105,336 | €122,172 | +€16,836 | +16.0% |
| Fixed assets | 21/28 | €13,729 | €20,301 | +€6,572 | +47.9% |
| Tangible fixed assets | 22/27 | €11,922 | €17,715 | +€5,793 | +48.6% |
| Plant, machinery and equipment | 23 | €11,602 | €17,637 | +€6,035 | +52.0% |
| Furniture and vehicles | 24 | €320 | €78 | -€242 | -75.6% |
| Financial fixed assets | 28 | €1,808 | €2,586 | +€779 | +43.1% |
| Current assets | 29/58 | €91,606 | €101,871 | +€10,265 | +11.2% |
| Stocks and contracts in progress | 3 | €2,598 | €2,100 | -€498 | -19.2% |
| Stocks | 30/36 | €2,598 | €2,100 | -€498 | -19.2% |
| Amounts receivable within one year | 40/41 | €89,009 | €93,078 | +€4,069 | +4.6% |
| Trade receivables | 40 | €3,876 | €3,072 | -€804 | -20.7% |
| Other amounts receivable | 41 | €85,133 | €90,005 | +€4,872 | +5.7% |
| Cash at bank and in hand | 54/58 | - | €6,694 | +€6,694 | |
| Total equity and liabilities | 10/49 | €105,336 | €122,172 | +€16,836 | +16.0% |
| Equity | 10/15 | €33,233 | €40,838 | +€7,606 | +22.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €8,233 | €15,838 | +€7,606 | +92.4% |
| Tax-exempt reserves | 132 | - | €15,838 | +€15,838 | |
| Distributable reserves | 133 | €8,233 | - | -€8,233 | |
| Amounts payable | 17/49 | €72,103 | €81,334 | +€9,231 | +12.8% |
| Amounts payable after more than one year | 17 | €2,255 | - | -€2,255 | |
| Financial debts | 170/4 | €2,255 | - | -€2,255 | |
| Amounts payable within one year | 42/48 | €69,527 | €80,732 | +€11,205 | +16.1% |
| Current portion of amounts payable after more than one year | 42 | €6,411 | €2,778 | -€3,633 | -56.7% |
| Financial debts | 43 | €4,599 | - | -€4,599 | |
| Credit institutions | 430/8 | €4,599 | - | -€4,599 | |
| Trade debts | 44 | €47,834 | €67,161 | +€19,328 | +40.4% |
| Suppliers | 440/4 | €47,834 | €67,161 | +€19,328 | +40.4% |
| Taxes, remuneration and social security | 45 | €10,683 | €10,792 | +€109 | +1.0% |
| Taxes | 450/3 | €1,971 | €5,328 | +€3,358 | +170% |
| Remuneration and social security | 454/9 | €8,712 | €5,464 | -€3,248 | -37.3% |
| Accrued charges and deferred income | 492/3 | €321 | €602 | +€281 | +87.3% |
| Remuneration, social security and pensions | 62 | €41,050 | €32,088 | -€8,962 | -21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,871 | €7,881 | +€1,010 | +14.7% |
| Other operating charges | 640/8 | €1,690 | €761 | -€929 | -55.0% |
| Gross operating margin | 9900 | €63,279 | €49,431 | -€13,848 | -21.9% |
| Operating profit (loss) | 9901 | €13,667 | €8,701 | -€4,966 | -36.3% |
| Financial income | 75/76B | €5,160 | €9,797 | +€4,637 | +89.9% |
| Recurring financial income | 75 | €5,160 | €4,753 | -€407 | -7.9% |
| Non-recurring financial income | 76B | - | €5,044 | +€5,044 | |
| Financial charges | 65/66B | €9,060 | €7,535 | -€1,525 | -16.8% |
| Recurring financial charges | 65 | €9,060 | €7,535 | -€1,525 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €9,768 | €10,964 | +€1,196 | +12.2% |
| Income taxes | 67/77 | €1,971 | €3,358 | +€1,387 | +70.4% |
| Profit (loss) for the period | 9904 | €7,797 | €7,606 | -€191 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,797 | €7,606 | -€191 | -2.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.