SMASS: what changed
SMASS
Largest movements
- Receivables within one year +€26,127
up €26,127 (+2,889%), from €905 to €27,031
of which Trade receivables: +€27,031
- Cash +€16,723
up €16,723 (+86.5%), from €19,344 to €36,067
mainly Tax, wage and social debts (+€29,996) and Net result for the year (+€14,271)
- Tangible fixed assets -€2,186
down €2,186 (-3.0%), from €72,557 to €70,371
- Tax, wage and social debts +€29,996
up €29,996 (+1,531%), from €1,959 to €31,955
of which Taxes: +€16,991
- Profit (loss) carried forward +€14,271
up €14,271 (+41.2%), from -€34,604 to -€20,333
- Debts after one year -€4,803
down €4,803 (-5.7%), from €84,180 to €79,377
- Trade debts +€3,517
up €3,517 (+75.2%), from €4,676 to €8,193
- Other debts -€2,143
down €2,143 (-51.4%), from €4,165 to €2,023
- Gross operating margin +€24,675
up €24,675 (+136%), from €18,132 to €42,807
- Write-downs -€18,390
down €18,390 (-100%), from €18,390 to €0
- Staff costs +€15,433
up €15,433, from -€2,729 to €12,705
- Taxes +€5,833
up €5,833 (+1,652%), from €353 to €6,186
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 | €92,805 | €133,922 | +€41,117 | +44.3% |
| Fixed assets | 21/28 | €72,557 | €70,371 | -€2,186 | -3.0% |
| Tangible fixed assets | 22/27 | €72,557 | €70,371 | -€2,186 | -3.0% |
| Land and buildings | 22 | €72,557 | €70,371 | -€2,186 | -3.0% |
| Current assets | 29/58 | €20,248 | €63,551 | +€43,303 | +214% |
| Amounts receivable within one year | 40/41 | €905 | €27,031 | +€26,127 | +2,889% |
| Trade receivables | 40 | €0 | €27,031 | +€27,031 | |
| Other amounts receivable | 41 | €905 | €0 | -€905 | -100% |
| Cash at bank and in hand | 54/58 | €19,344 | €36,067 | +€16,723 | +86.5% |
| Deferred charges and accrued income | 490/1 | - | €453 | +€453 | |
| Total equity and liabilities | 10/49 | €92,805 | €133,922 | +€41,117 | +44.3% |
| Equity | 10/15 | -€6,699 | €7,572 | +€14,271 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,305 | €9,305 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,815 | €4,815 | = | 0.0% |
| Distributable reserves | 133 | €2,630 | €2,630 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,604 | -€20,333 | +€14,271 | +41.2% |
| Amounts payable | 17/49 | €99,504 | €126,350 | +€26,846 | +27.0% |
| Amounts payable after more than one year | 17 | €84,180 | €79,377 | -€4,803 | -5.7% |
| Financial debts | 170/4 | €84,180 | €79,377 | -€4,803 | -5.7% |
| Amounts payable within one year | 42/48 | €15,324 | €46,974 | +€31,649 | +207% |
| Current portion of amounts payable after more than one year | 42 | €4,525 | €4,803 | +€279 | +6.2% |
| Trade debts | 44 | €4,676 | €8,193 | +€3,517 | +75.2% |
| Suppliers | 440/4 | €4,676 | €8,193 | +€3,517 | +75.2% |
| Taxes, remuneration and social security | 45 | €1,959 | €31,955 | +€29,996 | +1,531% |
| Taxes | 450/3 | €353 | €17,344 | +€16,991 | +4,811% |
| Remuneration and social security | 454/9 | €1,605 | €14,611 | +€13,005 | +810% |
| Other amounts payable | 47/48 | €4,165 | €2,023 | -€2,143 | -51.4% |
| Non-recurring operating income | 76A | €300 | €0 | -€300 | -100% |
| Remuneration, social security and pensions | 62 | -€2,729 | €12,705 | +€15,433 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,186 | €2,186 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €18,390 | €0 | -€18,390 | -100% |
| Other operating charges | 640/8 | €1,910 | €1,956 | +€46 | +2.4% |
| Gross operating margin | 9900 | €18,132 | €42,807 | +€24,675 | +136% |
| Operating profit (loss) | 9901 | -€1,626 | €25,961 | +€27,586 | |
| Financial income | 75/76B | €10 | €7 | -€3 | -30.6% |
| Recurring financial income | 75 | €10 | €7 | -€3 | -30.6% |
| Financial charges | 65/66B | €5,905 | €5,510 | -€395 | -6.7% |
| Recurring financial charges | 65 | €5,905 | €5,510 | -€395 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | -€7,521 | €20,457 | +€27,978 | |
| Income taxes | 67/77 | €353 | €6,186 | +€5,833 | +1,652% |
| Profit (loss) for the period | 9904 | -€7,874 | €14,271 | +€22,145 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,874 | €14,271 | +€22,145 |
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 6 November 2026 via checked.be.