SMC ADVISORY: 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.
SMC ADVISORY
Largest movements
- Cash +€26,068
up €26,068 (+647%), from €4,028 to €30,096
mainly Net result for the year (+€36,145) and Other debts (+€18,000)
- Deferred charges and accrued income +€4,943
up €4,943 (+115%), from €4,281 to €9,224
- Receivables within one year -€1,688
down €1,688 (-11.2%), from €15,029 to €13,341
of which Other amounts receivable: -€1,340
- Tangible fixed assets -€627
down €627 (-15.0%), from €4,175 to €3,548
- Other debts +€18,000
up €18,000 (+106%), from €17,000 to €35,000
- Tax, wage and social debts +€7,272
up €7,272 (+285%), from €2,550 to €9,822
- Contributions +€2,500
new in 2025: €2,500
- Profit (loss) carried forward +€1,145
up €1,145 (+182%), from €629 to €1,774
- Trade debts -€604
down €604 (-8.7%), from €6,923 to €6,319
- Gross operating margin +€33,235
up €33,235 (+58.6%), from €56,711 to €89,946
- Other operating charges +€9,520
up €9,520 (+33.7%), from €28,225 to €37,745
- Taxes +€6,216
up €6,216 (+82.3%), from €7,549 to €13,765
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 | €27,739 | €56,435 | +€28,696 | +103% |
| Fixed assets | 21/28 | €4,401 | €3,774 | -€627 | -14.2% |
| Tangible fixed assets | 22/27 | €4,175 | €3,548 | -€627 | -15.0% |
| Furniture and vehicles | 24 | €4,175 | €3,548 | -€627 | -15.0% |
| Financial fixed assets | 28 | €226 | €226 | = | 0.0% |
| Current assets | 29/58 | €23,338 | €52,661 | +€29,323 | +126% |
| Amounts receivable within one year | 40/41 | €15,029 | €13,341 | -€1,688 | -11.2% |
| Trade receivables | 40 | €8,857 | €8,509 | -€348 | -3.9% |
| Other amounts receivable | 41 | €6,172 | €4,832 | -€1,340 | -21.7% |
| Cash at bank and in hand | 54/58 | €4,028 | €30,096 | +€26,068 | +647% |
| Deferred charges and accrued income | 490/1 | €4,281 | €9,224 | +€4,943 | +115% |
| Total equity and liabilities | 10/49 | €27,739 | €56,435 | +€28,696 | +103% |
| Equity | 10/15 | €629 | €4,274 | +€3,645 | +579% |
| Contributions | 10/11 | - | €2,500 | +€2,500 | |
| Profit (loss) carried forward | 14 | €629 | €1,774 | +€1,145 | +182% |
| Amounts payable | 17/49 | €27,110 | €52,161 | +€25,051 | +92.4% |
| Amounts payable within one year | 42/48 | €26,473 | €51,141 | +€24,668 | +93.2% |
| Trade debts | 44 | €6,923 | €6,319 | -€604 | -8.7% |
| Suppliers | 440/4 | €6,923 | €6,319 | -€604 | -8.7% |
| Taxes, remuneration and social security | 45 | €2,550 | €9,822 | +€7,272 | +285% |
| Taxes | 450/3 | €2,550 | €9,822 | +€7,272 | +285% |
| Other amounts payable | 47/48 | €17,000 | €35,000 | +€18,000 | +106% |
| Accrued charges and deferred income | 492/3 | €637 | €1,020 | +€383 | +60.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,575 | €1,397 | -€178 | -11.3% |
| Other operating charges | 640/8 | €28,225 | €37,745 | +€9,520 | +33.7% |
| Non-recurring operating charges | 66A | €509 | - | -€509 | |
| Gross operating margin | 9900 | €56,711 | €89,946 | +€33,235 | +58.6% |
| Operating profit (loss) | 9901 | €26,402 | €50,804 | +€24,402 | +92.4% |
| Financial income | 75/76B | €8 | €314 | +€306 | +3,825% |
| Recurring financial income | 75 | €8 | €314 | +€306 | +3,825% |
| Financial charges | 65/66B | €1,374 | €1,208 | -€166 | -12.1% |
| Recurring financial charges | 65 | €1,374 | €1,208 | -€166 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €25,036 | €49,910 | +€24,874 | +99.4% |
| Income taxes | 67/77 | €7,549 | €13,765 | +€6,216 | +82.3% |
| Profit (loss) for the period | 9904 | €17,487 | €36,145 | +€18,658 | +107% |
| Profit (loss) for the period to be appropriated | 9905 | €17,487 | €36,145 | +€18,658 | +107% |
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 18 October 2026 via checked.be.