SMAB: 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.
SMAB
Largest movements
- Cash -€598
down €598 (-62.0%), from €965 to €367
mainly Net result for the year (-€893)
- Profit (loss) carried forward -€893
down €893 (-28.8%), from -€3,105 to -€3,999
- Trade debts +€295
up €295 (+113.3%), from €260 to €555
- Gross operating margin +€144
up €144 (+19.6%), from -€734 to -€590
- Other operating charges -€84
down €84 (-41.2%), from €204 to €120
- Financial charges -€34
down €34 (-15.6%), from €217 to €184
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 | €19,155 | €18,557 | -€598 | -3.1% |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €19,155 | €18,557 | -€598 | -3.1% |
| Amounts receivable within one year | 40/41 | €18,190 | €18,190 | = | 0.0% |
| Other amounts receivable | 41 | €18,190 | €18,190 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €965 | €367 | -€598 | -62.0% |
| Total equity and liabilities | 10/49 | €19,155 | €18,557 | -€598 | -3.1% |
| Equity | 10/15 | €18,895 | €18,001 | -€893 | -4.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,105 | -€3,999 | -€893 | -28.8% |
| Amounts payable | 17/49 | €260 | €555 | +€295 | +113.3% |
| Amounts payable within one year | 42/48 | €260 | €555 | +€295 | +113.3% |
| Trade debts | 44 | €260 | €555 | +€295 | +113.3% |
| Suppliers | 440/4 | €260 | €555 | +€295 | +113.3% |
| Other operating charges | 640/8 | €204 | €120 | -€84 | -41.2% |
| Gross operating margin | 9900 | -€734 | -€590 | +€144 | +19.6% |
| Operating profit (loss) | 9901 | -€938 | -€710 | +€228 | +24.3% |
| Financial charges | 65/66B | €217 | €184 | -€34 | -15.6% |
| Recurring financial charges | 65 | €217 | €184 | -€34 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,155 | -€893 | +€262 | +22.7% |
| Profit (loss) for the period | 9904 | -€1,155 | -€893 | +€262 | +22.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,155 | -€893 | +€262 | +22.7% |
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 10 October 2026 via checked.be.