SmaakBoulevard: 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.
SmaakBoulevard
Largest movements
- Tangible fixed assets -€11,643
down €11,643 (-12.6%), from €92,387 to €80,743
of which Other tangible fixed assets: -€6,602
- Cash +€7,272
up €7,272 (+18.7%), from €38,848 to €46,121
mainly Depreciation (+€19,971) and Net result for the year (+€2,606)
- Debts after one year -€5,603
down €5,603 (-15.1%), from €36,992 to €31,389
- Profit (loss) carried forward +€2,606
new in 2025: €2,606
- Current portion of long-term debt -€2,345
down €2,345 (-30.1%), from €7,790 to €5,445
- Gross operating margin +€54,790
up €54,790 (+136%), from €40,292 to €95,082
- Staff costs +€30,448
up €30,448 (+85.0%), from €35,814 to €66,262
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 | €149,286 | €145,925 | -€3,360 | -2.3% |
| Fixed assets | 21/28 | €92,387 | €80,743 | -€11,643 | -12.6% |
| Tangible fixed assets | 22/27 | €92,387 | €80,743 | -€11,643 | -12.6% |
| Plant, machinery and equipment | 23 | €34,359 | €28,051 | -€6,308 | -18.4% |
| Furniture and vehicles | 24 | - | €4,133 | +€4,133 | |
| Leasing and similar rights | 25 | €18,937 | €16,071 | -€2,866 | -15.1% |
| Other tangible fixed assets | 26 | €39,091 | €32,489 | -€6,602 | -16.9% |
| Current assets | 29/58 | €56,899 | €65,182 | +€8,283 | +14.6% |
| Stocks and contracts in progress | 3 | €6,178 | €6,174 | -€4 | -0.1% |
| Stocks | 30/36 | €6,178 | €6,174 | -€4 | -0.1% |
| Amounts receivable within one year | 40/41 | €11,146 | €11,279 | +€133 | +1.2% |
| Trade receivables | 40 | - | €978 | +€978 | |
| Other amounts receivable | 41 | €11,146 | €10,301 | -€845 | -7.6% |
| Cash at bank and in hand | 54/58 | €38,848 | €46,121 | +€7,272 | +18.7% |
| Deferred charges and accrued income | 490/1 | €726 | €1,608 | +€882 | +121% |
| Total equity and liabilities | 10/49 | €149,286 | €145,925 | -€3,360 | -2.3% |
| Equity | 10/15 | €93,943 | €96,549 | +€2,606 | +2.8% |
| Contributions | 10/11 | €18,620 | €18,620 | = | 0.0% |
| Reserves | 13 | €75,323 | €75,323 | = | 0.0% |
| Distributable reserves | 133 | €75,323 | €75,323 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €2,606 | +€2,606 | |
| Amounts payable | 17/49 | €55,343 | €49,377 | -€5,966 | -10.8% |
| Amounts payable after more than one year | 17 | €36,992 | €31,389 | -€5,603 | -15.1% |
| Financial debts | 170/4 | €36,992 | €31,389 | -€5,603 | -15.1% |
| Amounts payable within one year | 42/48 | €18,351 | €17,988 | -€363 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €7,790 | €5,445 | -€2,345 | -30.1% |
| Trade debts | 44 | €5,648 | €5,606 | -€42 | -0.7% |
| Suppliers | 440/4 | €5,648 | €5,606 | -€42 | -0.7% |
| Advances received on contracts in progress | 46 | - | €750 | +€750 | |
| Taxes, remuneration and social security | 45 | €1,274 | €2,530 | +€1,256 | +98.5% |
| Taxes | 450/3 | €185 | €1,241 | +€1,056 | +573% |
| Remuneration and social security | 454/9 | €1,090 | €1,289 | +€199 | +18.3% |
| Other amounts payable | 47/48 | €3,639 | €3,657 | +€18 | +0.5% |
| Remuneration, social security and pensions | 62 | €35,814 | €66,262 | +€30,448 | +85.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,391 | €19,971 | -€420 | -2.1% |
| Other operating charges | 640/8 | €3,978 | €4,798 | +€819 | +20.6% |
| Gross operating margin | 9900 | €40,292 | €95,082 | +€54,790 | +136% |
| Operating profit (loss) | 9901 | -€19,891 | €4,051 | +€23,942 | |
| Financial income | 75/76B | €14 | €60 | +€46 | +338% |
| Recurring financial income | 75 | €14 | €60 | +€46 | +338% |
| Financial charges | 65/66B | €1,706 | €1,505 | -€202 | -11.8% |
| Recurring financial charges | 65 | €1,706 | €1,505 | -€202 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | -€21,584 | €2,606 | +€24,190 | |
| Profit (loss) for the period | 9904 | -€21,584 | €2,606 | +€24,190 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,584 | €2,606 | +€24,190 |
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 18 October 2026 via checked.be.