SMASH OP 1: 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.
SMASH OP 1
Largest movements
- Receivables within one year -€39,869
down €39,869 (-76.0%), from €52,469 to €12,599
of which Trade receivables: -€50,671
- Tangible fixed assets +€1,059
new in 2025: €1,059
- Trade debts -€71,839
down €71,839 (-51.8%), from €138,779 to €66,940
- Profit (loss) carried forward +€28,323
up €28,323 (+43.6%), from -€65,031 to -€36,708
- Tax, wage and social debts +€6,455
up €6,455 (+181%), from €3,569 to €10,024
of which Taxes: +€6,421
- Other debts -€1,529
no longer reported in 2025 (was €1,529)
- Gross operating margin +€95,714
up €95,714, from -€62,176 to €33,537
- Financial charges +€1,380
up €1,380 (+73.6%), from €1,875 to €3,255
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 | €81,846 | €43,256 | -€38,591 | -47.2% |
| Fixed assets | 21/28 | - | €1,059 | +€1,059 | |
| Tangible fixed assets | 22/27 | - | €1,059 | +€1,059 | |
| Furniture and vehicles | 24 | - | €1,059 | +€1,059 | |
| Current assets | 29/58 | €81,846 | €42,197 | -€39,649 | -48.4% |
| Amounts receivable within one year | 40/41 | €52,469 | €12,599 | -€39,869 | -76.0% |
| Trade receivables | 40 | €52,469 | €1,798 | -€50,671 | -96.6% |
| Other amounts receivable | 41 | - | €10,802 | +€10,802 | |
| Cash at bank and in hand | 54/58 | €29,378 | €29,597 | +€220 | +0.7% |
| Total equity and liabilities | 10/49 | €81,846 | €43,256 | -€38,591 | -47.2% |
| Equity | 10/15 | -€62,031 | -€33,708 | +€28,323 | +45.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€65,031 | -€36,708 | +€28,323 | +43.6% |
| Amounts payable | 17/49 | €143,878 | €76,964 | -€66,914 | -46.5% |
| Amounts payable within one year | 42/48 | €143,878 | €76,964 | -€66,914 | -46.5% |
| Trade debts | 44 | €138,779 | €66,940 | -€71,839 | -51.8% |
| Suppliers | 440/4 | €138,779 | €66,940 | -€71,839 | -51.8% |
| Taxes, remuneration and social security | 45 | €3,569 | €10,024 | +€6,455 | +181% |
| Taxes | 450/3 | €3,569 | €9,990 | +€6,421 | +180% |
| Remuneration and social security | 454/9 | - | €34 | +€34 | |
| Other amounts payable | 47/48 | €1,529 | - | -€1,529 | |
| Remuneration, social security and pensions | 62 | -€113 | €436 | +€550 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €97 | +€97 | |
| Other operating charges | 640/8 | €1,093 | €1,563 | +€470 | +43.0% |
| Gross operating margin | 9900 | -€62,176 | €33,537 | +€95,714 | |
| Operating profit (loss) | 9901 | -€63,156 | €31,440 | +€94,597 | |
| Financial income | 75/76B | - | €137 | +€137 | |
| Recurring financial income | 75 | - | €137 | +€137 | |
| Financial charges | 65/66B | €1,875 | €3,255 | +€1,380 | +73.6% |
| Recurring financial charges | 65 | €1,875 | €3,255 | +€1,380 | +73.6% |
| Profit (loss) for the period before taxes | 9903 | -€65,031 | €28,323 | +€93,354 | |
| Profit (loss) for the period | 9904 | -€65,031 | €28,323 | +€93,354 | |
| Profit (loss) for the period to be appropriated | 9905 | -€65,031 | €28,323 | +€93,354 |
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 31 October 2026 via checked.be.