SMAL & CONSORTS: what changed
SMAL & CONSORTS
Largest movements
- Receivables within one year -€16,034
down €16,034 (-19.3%), from €82,987 to €66,952
of which Other amounts receivable: -€18,420
- Tangible fixed assets -€7,513
down €7,513 (-22.6%), from €33,309 to €25,796
- Cash +€4,532
up €4,532 (+13.2%), from €34,232 to €38,764
mainly Net result for the year (+€83,062) and Receivables within one year (+€16,034)
- Reserves -€10,000
no longer reported in 2025 (was €10,000)
- Debts after one year -€7,969
down €7,969 (-33.4%), from €23,825 to €15,856
of which Financial debts: -€5,749
- Tax, wage and social debts -€2,429
down €2,429 (-28.7%), from €8,472 to €6,043
- Gross operating margin -€7,979
down €7,979 (-6.1%), from €130,669 to €122,690
- Taxes -€2,948
down €2,948 (-9.6%), from €30,822 to €27,874
- Depreciation +€2,330
up €2,330 (+45.0%), from €5,182 to €7,513
- Financial charges +€1,902
up €1,902 (+128%), from €1,483 to €3,385
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €151,190 | €132,237 | -€18,952 | -12.5% |
| Fixed assets | 21/28 | €33,559 | €26,046 | -€7,513 | -22.4% |
| Tangible fixed assets | 22/27 | €33,309 | €25,796 | -€7,513 | -22.6% |
| Furniture and vehicles | 24 | €33,309 | €25,796 | -€7,513 | -22.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €117,631 | €106,191 | -€11,440 | -9.7% |
| Amounts receivable within one year | 40/41 | €82,987 | €66,952 | -€16,034 | -19.3% |
| Trade receivables | 40 | €52,961 | €55,347 | +€2,386 | +4.5% |
| Other amounts receivable | 41 | €30,026 | €11,606 | -€18,420 | -61.3% |
| Cash at bank and in hand | 54/58 | €34,232 | €38,764 | +€4,532 | +13.2% |
| Deferred charges and accrued income | 490/1 | €412 | €475 | +€63 | +15.2% |
| Total equity and liabilities | 10/49 | €151,190 | €132,237 | -€18,952 | -12.5% |
| Equity | 10/15 | €16,432 | €6,494 | -€9,938 | -60.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €10,000 | - | -€10,000 | |
| Distributable reserves | 133 | €10,000 | - | -€10,000 | |
| Profit (loss) carried forward | 14 | €232 | €294 | +€62 | +26.7% |
| Amounts payable | 17/49 | €134,758 | €125,744 | -€9,014 | -6.7% |
| Amounts payable after more than one year | 17 | €23,825 | €15,856 | -€7,969 | -33.4% |
| Financial debts | 170/4 | €21,605 | €15,856 | -€5,749 | -26.6% |
| Other amounts payable | 178/9 | €2,220 | - | -€2,220 | |
| Amounts payable within one year | 42/48 | €110,933 | €109,888 | -€1,045 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €5,544 | €5,749 | +€205 | +3.7% |
| Trade debts | 44 | €3,917 | €5,095 | +€1,179 | +30.1% |
| Suppliers | 440/4 | €3,917 | €5,095 | +€1,179 | +30.1% |
| Taxes, remuneration and social security | 45 | €8,472 | €6,043 | -€2,429 | -28.7% |
| Taxes | 450/3 | €8,472 | €6,043 | -€2,429 | -28.7% |
| Other amounts payable | 47/48 | €93,000 | €93,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,182 | €7,513 | +€2,330 | +45.0% |
| Other operating charges | 640/8 | €853 | €863 | +€10 | +1.2% |
| Gross operating margin | 9900 | €130,669 | €122,690 | -€7,979 | -6.1% |
| Operating profit (loss) | 9901 | €124,633 | €114,314 | -€10,319 | -8.3% |
| Financial income | 75/76B | €93 | €7 | -€87 | -92.9% |
| Recurring financial income | 75 | €93 | €7 | -€87 | -92.9% |
| Financial charges | 65/66B | €1,483 | €3,385 | +€1,902 | +128% |
| Recurring financial charges | 65 | €1,483 | €3,385 | +€1,902 | +128% |
| Profit (loss) for the period before taxes | 9903 | €123,243 | €110,936 | -€12,307 | -10.0% |
| Income taxes | 67/77 | €30,822 | €27,874 | -€2,948 | -9.6% |
| Profit (loss) for the period | 9904 | €92,421 | €83,062 | -€9,360 | -10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €92,421 | €83,062 | -€9,360 | -10.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.