SMARCFIN: 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.
SMARCFIN
Largest movements
- Cash -€22,278
down €22,278 (-62.4%), from €35,696 to €13,418
mainly Other debts (-€27,311) and Contributions, distributions and other (-€26,235)
- Receivables within one year -€13,626
down €13,626 (-89.4%), from €15,243 to €1,617
of which Trade receivables: -€11,477
- Tangible fixed assets -€5,240
down €5,240 (-3.9%), from €133,386 to €128,147
of which Land and buildings: -€5,240
- Other debts -€27,311
down €27,311 (-44.1%), from €61,955 to €34,644
- Debts after one year -€8,121
down €8,121 (-17.4%), from €46,804 to €38,684
- Tax, wage and social debts -€5,410
down €5,410 (-72.1%), from €7,499 to €2,089
- Gross operating margin -€17,186
down €17,186 (-25.4%), from €67,743 to €50,557
- Taxes -€5,400
down €5,400 (-34.0%), from €15,890 to €10,489
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 | €184,325 | €144,393 | -€39,932 | -21.7% |
| Fixed assets | 21/28 | €133,386 | €128,147 | -€5,240 | -3.9% |
| Tangible fixed assets | 22/27 | €133,386 | €128,147 | -€5,240 | -3.9% |
| Land and buildings | 22 | €133,386 | €128,147 | -€5,240 | -3.9% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €50,939 | €16,247 | -€34,692 | -68.1% |
| Amounts receivable within one year | 40/41 | €15,243 | €1,617 | -€13,626 | -89.4% |
| Trade receivables | 40 | €11,598 | €121 | -€11,477 | -99.0% |
| Other amounts receivable | 41 | €3,645 | €1,496 | -€2,149 | -59.0% |
| Cash at bank and in hand | 54/58 | €35,696 | €13,418 | -€22,278 | -62.4% |
| Deferred charges and accrued income | 490/1 | - | €1,212 | +€1,212 | |
| Total equity and liabilities | 10/49 | €184,325 | €144,393 | -€39,932 | -21.7% |
| Equity | 10/15 | €56,383 | €56,383 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €37,783 | €37,783 | = | 0.0% |
| Distributable reserves | 133 | €37,783 | €37,783 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €127,942 | €88,011 | -€39,932 | -31.2% |
| Amounts payable after more than one year | 17 | €46,804 | €38,684 | -€8,121 | -17.4% |
| Financial debts | 170/4 | €46,804 | €38,684 | -€8,121 | -17.4% |
| Amounts payable within one year | 42/48 | €80,744 | €49,327 | -€31,417 | -38.9% |
| Current portion of amounts payable after more than one year | 42 | €7,676 | €8,121 | +€444 | +5.8% |
| Financial debts | 43 | €2,916 | €3,911 | +€995 | +34.1% |
| Credit institutions | 430/8 | - | €2,878 | +€2,878 | |
| Other loans | 439 | €2,916 | €1,032 | -€1,883 | -64.6% |
| Trade debts | 44 | €698 | €562 | -€136 | -19.4% |
| Suppliers | 440/4 | €698 | €562 | -€136 | -19.4% |
| Taxes, remuneration and social security | 45 | €7,499 | €2,089 | -€5,410 | -72.1% |
| Taxes | 450/3 | €7,499 | €2,089 | -€5,410 | -72.1% |
| Other amounts payable | 47/48 | €61,955 | €34,644 | -€27,311 | -44.1% |
| Accrued charges and deferred income | 492/3 | €394 | €0 | -€394 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,037 | €6,905 | -€132 | -1.9% |
| Other operating charges | 640/8 | €1,242 | €1,128 | -€114 | -9.2% |
| Gross operating margin | 9900 | €67,743 | €50,557 | -€17,186 | -25.4% |
| Operating profit (loss) | 9901 | €59,465 | €42,524 | -€16,940 | -28.5% |
| Financial charges | 65/66B | €5,792 | €5,800 | +€8 | +0.1% |
| Recurring financial charges | 65 | €5,792 | €5,800 | +€8 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €53,672 | €36,724 | -€16,948 | -31.6% |
| Income taxes | 67/77 | €15,890 | €10,489 | -€5,400 | -34.0% |
| Profit (loss) for the period | 9904 | €37,783 | €26,235 | -€11,548 | -30.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,783 | €26,235 | -€11,548 | -30.6% |
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 4 October 2026 via checked.be.