SMACHE: 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.
SMACHE
Largest movements
- Tangible fixed assets -€1,481
down €1,481 (-41.5%), from €3,566 to €2,086
- Cash -€769
down €769 (-21.3%), from €3,610 to €2,842
mainly Net result for the year (-€3,617) and Receivables within one year (-€366)
- Receivables within one year +€366
up €366 (+189.5%), from €193 to €559
of which Trade receivables: +€270
- Profit (loss) carried forward -€3,617
down €3,617 (-55.9%), from -€6,469 to -€10,086
- Other debts +€1,633
up €1,633 (+35.8%), from €4,559 to €6,192
- Trade debts +€380
new in 2025: €380
- Tax, wage and social debts -€280
no longer reported in 2025 (was €280)
- Gross operating margin -€5,048
down €5,048, from €3,941 to -€1,107
- Depreciation -€1,025
down €1,025 (-40.9%), from €2,505 to €1,481
- Other operating charges +€287
up €287 (+40.9%), from €702 to €989
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 | €7,370 | €5,487 | -€1,883 | -25.6% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €3,566 | €2,086 | -€1,481 | -41.5% |
| Tangible fixed assets | 22/27 | €3,566 | €2,086 | -€1,481 | -41.5% |
| Plant, machinery and equipment | 23 | €3,566 | €2,086 | -€1,481 | -41.5% |
| Current assets | 29/58 | €3,803 | €3,401 | -€403 | -10.6% |
| Amounts receivable within one year | 40/41 | €193 | €559 | +€366 | +189.5% |
| Trade receivables | 40 | €193 | €463 | +€270 | +139.8% |
| Other amounts receivable | 41 | €0 | €96 | +€96 | |
| Cash at bank and in hand | 54/58 | €3,610 | €2,842 | -€769 | -21.3% |
| Total equity and liabilities | 10/49 | €7,370 | €5,487 | -€1,883 | -25.6% |
| Equity | 10/15 | -€6,469 | -€10,086 | -€3,617 | -55.9% |
| Profit (loss) carried forward | 14 | -€6,469 | -€10,086 | -€3,617 | -55.9% |
| Amounts payable | 17/49 | €13,839 | €15,572 | +€1,733 | +12.5% |
| Amounts payable after more than one year | 17 | €9,000 | €9,000 | = | 0.0% |
| Financial debts | 170/4 | €9,000 | €9,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,839 | €6,572 | +€1,733 | +35.8% |
| Trade debts | 44 | - | €380 | +€380 | |
| Suppliers | 440/4 | - | €380 | +€380 | |
| Taxes, remuneration and social security | 45 | €280 | - | -€280 | |
| Taxes | 450/3 | €280 | - | -€280 | |
| Other amounts payable | 47/48 | €4,559 | €6,192 | +€1,633 | +35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,505 | €1,481 | -€1,025 | -40.9% |
| Other operating charges | 640/8 | €702 | €989 | +€287 | +40.9% |
| Gross operating margin | 9900 | €3,941 | -€1,107 | -€5,048 | |
| Operating profit (loss) | 9901 | €734 | -€3,576 | -€4,311 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €52 | €41 | -€11 | -21.9% |
| Recurring financial charges | 65 | €52 | €41 | -€11 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €682 | -€3,617 | -€4,299 | |
| Profit (loss) for the period | 9904 | €682 | -€3,617 | -€4,299 | |
| Profit (loss) for the period to be appropriated | 9905 | €682 | -€3,617 | -€4,299 |
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 5 October 2026 via checked.be.