SMAD COACHING: 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.
SMAD COACHING
Largest movements
- Receivables within one year -€22,479
down €22,479 (-97.8%), from €22,988 to €508
of which Trade receivables: -€20,547
- Cash -€2,962
no longer reported in 2025 (was €2,962)
mainly Trade debts (-€19,823) and Current portion of long-term debt (-€3,660)
- Tangible fixed assets -€313
down €313 (-21.8%), from €1,437 to €1,124
- Trade debts -€19,823
down €19,823 (-93.7%), from €21,147 to €1,325
- Current portion of long-term debt -€3,660
no longer reported in 2025 (was €3,660)
- Short-term financial debts +€3,307
new in 2025: €3,307
- Other debts -€2,893
down €2,893 (-59.3%), from €4,881 to €1,988
- Profit (loss) carried forward -€2,553
down €2,553 (-7.9%), from -€32,293 to -€34,846
- Gross operating margin +€25,464
up €25,464 (+97.3%), from -€26,159 to -€695
- Financial charges -€400
down €400 (-57.0%), from €701 to €301
- Other operating charges +€400
up €400 (+400%), from €100 to €500
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 | €27,387 | €1,633 | -€25,755 | -94.0% |
| Fixed assets | 21/28 | €1,437 | €1,124 | -€313 | -21.8% |
| Tangible fixed assets | 22/27 | €1,437 | €1,124 | -€313 | -21.8% |
| Furniture and vehicles | 24 | €1,437 | €1,124 | -€313 | -21.8% |
| Current assets | 29/58 | €25,950 | €508 | -€25,441 | -98.0% |
| Amounts receivable within one year | 40/41 | €22,988 | €508 | -€22,479 | -97.8% |
| Trade receivables | 40 | €21,056 | €508 | -€20,547 | -97.6% |
| Other amounts receivable | 41 | €1,932 | - | -€1,932 | |
| Cash at bank and in hand | 54/58 | €2,962 | - | -€2,962 | |
| Total equity and liabilities | 10/49 | €27,387 | €1,633 | -€25,755 | -94.0% |
| Equity | 10/15 | -€3,929 | -€6,482 | -€2,553 | -65.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €25,364 | €25,364 | = | 0.0% |
| Distributable reserves | 133 | €25,364 | €25,364 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,293 | -€34,846 | -€2,553 | -7.9% |
| Amounts payable | 17/49 | €31,316 | €8,114 | -€23,202 | -74.1% |
| Amounts payable within one year | 42/48 | €31,316 | €7,060 | -€24,256 | -77.5% |
| Current portion of amounts payable after more than one year | 42 | €3,660 | - | -€3,660 | |
| Financial debts | 43 | - | €3,307 | +€3,307 | |
| Credit institutions | 430/8 | - | €3,307 | +€3,307 | |
| Trade debts | 44 | €21,147 | €1,325 | -€19,823 | -93.7% |
| Suppliers | 440/4 | €21,147 | €1,325 | -€19,823 | -93.7% |
| Taxes, remuneration and social security | 45 | €1,627 | €440 | -€1,187 | -72.9% |
| Taxes | 450/3 | €1,627 | €440 | -€1,187 | -72.9% |
| Other amounts payable | 47/48 | €4,881 | €1,988 | -€2,893 | -59.3% |
| Accrued charges and deferred income | 492/3 | - | €1,055 | +€1,055 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,057 | €1,057 | +€1 | 0.0% |
| Other operating charges | 640/8 | €100 | €500 | +€400 | +400% |
| Gross operating margin | 9900 | -€26,159 | -€695 | +€25,464 | +97.3% |
| Operating profit (loss) | 9901 | -€27,316 | -€2,252 | +€25,064 | +91.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €701 | €301 | -€400 | -57.0% |
| Recurring financial charges | 65 | €701 | €301 | -€400 | -57.0% |
| Profit (loss) for the period before taxes | 9903 | -€28,017 | -€2,553 | +€25,464 | +90.9% |
| Income taxes | 67/77 | €81 | - | -€81 | |
| Profit (loss) for the period | 9904 | -€28,098 | -€2,553 | +€25,545 | +90.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,098 | -€2,553 | +€25,545 | +90.9% |
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 21 October 2026 via checked.be.