SMALS: 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.
What changed
SMALS
NACE 63.100, Computing infrastructure, data processing, hosting and related activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€0
2024 · €0
Equity
-
not filed
Cash
€78.9m
2024 · €95.8m-€17.0m
Balance sheet total
€288.2m
2024 · €279.3m+€8.9m
Largest movements
Assets
- Receivables within one year +€21.1m
up €21.1m (+26.2%), from €80.5m to €101.6m
of which Trade receivables: +€20.9m
- Cash -€17.0m
down €17.0m (-17.7%), from €95.8m to €78.9m
mainly Receivables within one year (-€21.1m) and Investment in fixed assets (net) (-€14.2m)
- Deferred charges and accrued income +€2.9m
up €2.9m (+12.8%), from €23.0m to €26.0m
Equity and liabilities
- Advances received +€12.2m
up €12.2m (+10.8%), from €113.0m to €125.1m
- Trade debts -€7.3m
down €7.3m (-15.7%), from €46.7m to €39.4m
- Accrued charges and deferred income +€5.9m
up €5.9m (+117.1%), from €5.1m to €11.0m
Income statement
- Staff costs +€15.2m
up €15.2m (+6.2%), from €245.5m to €260.7m
- Services and other goods -€6.7m
down €6.7m (-2.1%), from €314.6m to €307.9m
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.
Result 2024
€0
Turnover
+€5.2m
Other operating income
-€2.1m
Services and other goods
+€6.7m
Staff costs
-€15.2m
Depreciation
+€224,499
Other operating charges
-€1.1m
Other operating items
+€6.5m
Financial income
-€247,978
Financial charges
+€8,547
Result 2025
€0
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.
From operations
-€4.4m
Investment
-€12.5m
Financing
-€98,195
Cash 2024
€95.8m
From operations (derived)
-€4.4m
Depreciation
+€10.7m
Receivables within one year
-€21.1m
Deferred charges and accrued income
-€2.9m
Provisions
+€739,593
Trade debts
-€7.3m
Tax, wage and social debts
-€2.5m
Advances received
+€12.2m
Accrued charges and deferred income
+€5.9m
Investment (derived)
-€12.5m
Investment in fixed assets (net)
-€14.2m
Current investments
+€1.7m
Financing
-€98,195
Debts after one year
+€23,737
Current portion of long-term debt
-€121,932
Cash 2025
€78.9m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €279,332,558 | €288,231,196 | +€8.9m | +3.2% |
| Fixed assets | 21/28 | €33,279,328 | €36,774,064 | +€3.5m | +10.5% |
| Intangible fixed assets | 21 | €5,163,030 | €4,199,666 | -€963,364 | -18.7% |
| Tangible fixed assets | 22/27 | €28,076,732 | €30,874,273 | +€2.8m | +10.0% |
| Land and buildings | 22 | €1,031,043 | €919,913 | -€111,130 | -10.8% |
| Plant, machinery and equipment | 23 | €19,459,918 | €22,840,844 | +€3.4m | +17.4% |
| Furniture and vehicles | 24 | €722,947 | €773,824 | +€50,877 | +7.0% |
| Other tangible fixed assets | 26 | €6,745,044 | €6,033,300 | -€711,744 | -10.6% |
| Assets under construction and advance payments | 27 | €117,780 | €306,392 | +€188,612 | +160.1% |
| Financial fixed assets | 28 | €39,566 | €1,700,125 | +€1.7m | +4196.9% |
| Other financial fixed assets | 284/8 | €39,566 | €1,700,125 | +€1.7m | +4196.9% |
| Shares | 284 | - | €10 | +€10 | |
| Amounts receivable and cash guarantees | 285/8 | €39,566 | €1,700,115 | +€1.7m | +4196.9% |
| Current assets | 29/58 | €246,053,230 | €251,457,132 | +€5.4m | +2.2% |
| Amounts receivable within one year | 40/41 | €80,549,000 | €101,614,752 | +€21.1m | +26.2% |
| Trade receivables | 40 | €77,175,750 | €98,067,673 | +€20.9m | +27.1% |
| Other amounts receivable | 41 | €3,373,250 | €3,547,079 | +€173,829 | +5.2% |
| Current investments | 50/53 | €46,652,528 | €45,000,750 | -€1.7m | -3.5% |
| Cash at bank and in hand | 54/58 | €95,822,141 | €78,867,900 | -€17.0m | -17.7% |
| Deferred charges and accrued income | 490/1 | €23,029,561 | €25,973,730 | +€2.9m | +12.8% |
| Total equity and liabilities | 10/49 | €279,332,558 | €288,231,196 | +€8.9m | +3.2% |
| Provisions and deferred taxes | 16 | €49,447,936 | €50,187,529 | +€739,593 | +1.5% |
| Provisions for liabilities and charges | 160/5 | €49,447,936 | €50,187,529 | +€739,593 | +1.5% |
| Other liabilities and charges | 164/5 | €49,447,936 | €50,187,529 | +€739,593 | +1.5% |
| Amounts payable | 17/49 | €229,884,622 | €238,043,667 | +€8.2m | +3.5% |
| Amounts payable after more than one year | 17 | €8,256,180 | €8,279,917 | +€23,737 | +0.3% |
| Advances received on contracts in progress | 176 | €3,927,559 | €3,951,296 | +€23,737 | +0.6% |
| Other amounts payable | 178/9 | €4,328,621 | €4,328,621 | = | 0.0% |
| Amounts payable within one year | 42/48 | €216,564,504 | €218,769,630 | +€2.2m | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €227,487 | €105,555 | -€121,932 | -53.6% |
| Trade debts | 44 | €46,671,974 | €39,362,298 | -€7.3m | -15.7% |
| Suppliers | 440/4 | €46,671,974 | €39,362,298 | -€7.3m | -15.7% |
| Advances received on contracts in progress | 46 | €112,954,008 | €125,115,696 | +€12.2m | +10.8% |
| Taxes, remuneration and social security | 45 | €56,693,705 | €54,168,751 | -€2.5m | -4.5% |
| Taxes | 450/3 | €10,074,294 | €9,974,010 | -€100,284 | -1.0% |
| Remuneration and social security | 454/9 | €46,619,411 | €44,194,741 | -€2.4m | -5.2% |
| Accrued charges and deferred income | 492/3 | €5,063,938 | €10,994,120 | +€5.9m | +117.1% |
| Operating income | 70/76A | €579,511,957 | €582,655,021 | +€3.1m | +0.5% |
| Turnover | 70 | €573,623,499 | €578,866,778 | +€5.2m | +0.9% |
| Other operating income | 74 | €5,888,458 | €3,788,243 | -€2.1m | -35.7% |
| Operating charges | 60/66A | €580,680,576 | €583,584,209 | +€2.9m | +0.5% |
| Services and other goods | 61 | €314,606,429 | €307,925,803 | -€6.7m | -2.1% |
| Remuneration, social security and pensions | 62 | €245,519,165 | €260,735,023 | +€15.2m | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,883,266 | €10,658,767 | -€224,499 | -2.1% |
| Other operating charges | 640/8 | €2,269,582 | €3,338,698 | +€1.1m | +47.1% |
| Non-recurring operating charges | 66A | €1,608,095 | €186,325 | -€1.4m | -88.4% |
| Operating profit (loss) | 9901 | -€1,168,619 | -€929,188 | +€239,431 | +20.5% |
| Financial income | 75/76B | €1,200,040 | €952,062 | -€247,978 | -20.7% |
| Recurring financial income | 75 | €1,200,040 | €952,062 | -€247,978 | -20.7% |
| Income from financial fixed assets | 750 | - | €263 | +€263 | |
| Income from current assets | 751 | €1,199,454 | €951,215 | -€248,239 | -20.7% |
| Other financial income | 752/9 | €586 | €584 | -€2 | -0.3% |
| Financial charges | 65/66B | €31,421 | €22,874 | -€8,547 | -27.2% |
| Recurring financial charges | 65 | €31,421 | €22,874 | -€8,547 | -27.2% |
| Debt charges | 650 | €21,059 | €13,221 | -€7,838 | -37.2% |
| Other financial charges | 652/9 | €10,362 | €9,653 | -€709 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | €0 | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | €0 | €0 | = |
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.