SMBL: 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.
SMBL
Largest movements
- Cash -€29,998
down €29,998 (-34.7%), from €86,419 to €56,421
mainly Contributions, distributions and other (-€144,500) and Receivables within one year (-€11,576)
- Intangible fixed assets -€16,800
down €16,800 (-14.3%), from €117,625 to €100,825
- Receivables within one year +€11,576
up €11,576 (+40.8%), from €28,380 to €39,956
- Tangible fixed assets +€5,425
up €5,425 (+52.4%), from €10,349 to €15,775
of which Land and buildings: +€6,826
- Profit (loss) carried forward -€108,556
down €108,556 (-99.9%), from €108,668 to €113
- Other debts +€94,209
up €94,209 (+121%), from €77,638 to €171,847
- Tax, wage and social debts -€8,590
down €8,590 (-20.9%), from €41,108 to €32,518
of which Taxes: -€9,090
- Trade debts -€5,864
down €5,864 (-76.1%), from €7,708 to €1,844
- Gross operating margin -€6,915
down €6,915 (-8.7%), from €79,744 to €72,829
- Financial charges -€2,547
down €2,547 (-32.3%), from €7,887 to €5,340
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 | €245,157 | €214,209 | -€30,949 | -12.6% |
| Fixed assets | 21/28 | €127,974 | €116,599 | -€11,375 | -8.9% |
| Intangible fixed assets | 21 | €117,625 | €100,825 | -€16,800 | -14.3% |
| Tangible fixed assets | 22/27 | €10,349 | €15,775 | +€5,425 | +52.4% |
| Land and buildings | 22 | - | €6,826 | +€6,826 | |
| Plant, machinery and equipment | 23 | €8,882 | €7,808 | -€1,074 | -12.1% |
| Furniture and vehicles | 24 | €1,467 | €1,141 | -€327 | -22.3% |
| Current assets | 29/58 | €117,183 | €97,609 | -€19,574 | -16.7% |
| Amounts receivable within one year | 40/41 | €28,380 | €39,956 | +€11,576 | +40.8% |
| Trade receivables | 40 | €28,380 | €39,956 | +€11,576 | +40.8% |
| Cash at bank and in hand | 54/58 | €86,419 | €56,421 | -€29,998 | -34.7% |
| Deferred charges and accrued income | 490/1 | €2,384 | €1,232 | -€1,152 | -48.3% |
| Total equity and liabilities | 10/49 | €245,157 | €214,209 | -€30,949 | -12.6% |
| Equity | 10/15 | €113,668 | €5,113 | -€108,556 | -95.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €108,668 | €113 | -€108,556 | -99.9% |
| Amounts payable | 17/49 | €131,489 | €209,096 | +€77,607 | +59.0% |
| Amounts payable within one year | 42/48 | €126,454 | €206,209 | +€79,755 | +63.1% |
| Trade debts | 44 | €7,708 | €1,844 | -€5,864 | -76.1% |
| Suppliers | 440/4 | €7,708 | €1,844 | -€5,864 | -76.1% |
| Taxes, remuneration and social security | 45 | €41,108 | €32,518 | -€8,590 | -20.9% |
| Taxes | 450/3 | €39,108 | €30,018 | -€9,090 | -23.2% |
| Remuneration and social security | 454/9 | €2,000 | €2,500 | +€500 | +25.0% |
| Other amounts payable | 47/48 | €77,638 | €171,847 | +€94,209 | +121% |
| Accrued charges and deferred income | 492/3 | €5,034 | €2,887 | -€2,148 | -42.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,040 | €18,358 | +€318 | +1.8% |
| Other operating charges | 640/8 | €1,390 | €1,428 | +€38 | +2.7% |
| Non-recurring operating charges | 66A | - | €53 | +€53 | |
| Gross operating margin | 9900 | €79,744 | €72,829 | -€6,915 | -8.7% |
| Operating profit (loss) | 9901 | €60,314 | €52,991 | -€7,324 | -12.1% |
| Financial income | 75/76B | - | €36 | +€36 | |
| Recurring financial income | 75 | - | €36 | +€36 | |
| Financial charges | 65/66B | €7,887 | €5,340 | -€2,547 | -32.3% |
| Recurring financial charges | 65 | €7,887 | €5,340 | -€2,547 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | €52,427 | €47,687 | -€4,740 | -9.0% |
| Income taxes | 67/77 | €12,183 | €11,743 | -€440 | -3.6% |
| Profit (loss) for the period | 9904 | €40,245 | €35,944 | -€4,300 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €40,245 | €35,944 | -€4,300 | -10.7% |
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 16 October 2026 via checked.be.