SMD Tiles & Windows: 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.
SMD Tiles & Windows
Largest movements
- Tangible fixed assets +€16,899
up €16,899 (+119%), from €14,240 to €31,139
- Cash +€16,235
up €16,235 (+422%), from €3,849 to €20,083
mainly Trade debts (+€37,686) and Net result for the year (+€10,778)
- Deferred charges and accrued income +€9,773
up €9,773 (+353%), from €2,770 to €12,543
- Receivables within one year +€5,652
up €5,652 (+31.2%), from €18,091 to €23,743
of which Other amounts receivable: +€10,980
- Trade debts +€37,686
up €37,686 (+282%), from €13,385 to €51,072
- Profit (loss) carried forward +€10,778
up €10,778, from -€7,316 to €3,462
- Debts after one year -€4,917
down €4,917 (-27.4%), from €17,973 to €13,056
- Tax, wage and social debts +€2,482
up €2,482 (+165%), from €1,500 to €3,982
of which Taxes: +€3,982
- Other debts +€2,230
up €2,230 (+188%), from €1,184 to €3,414
- Gross operating margin +€23,855
up €23,855 (+334%), from €7,146 to €31,001
- Depreciation +€7,479
up €7,479 (+311%), from €2,407 to €9,885
- Taxes +€4,131
up €4,131 (+737,763%), from €1 to €4,132
- Other operating charges +€2,971
up €2,971 (+257%), from €1,156 to €4,127
- Financial charges +€612
up €612 (+41.5%), from €1,476 to €2,088
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €38,949 | €87,507 | +€48,558 | +125% |
| Fixed assets | 21/28 | €14,240 | €31,139 | +€16,899 | +119% |
| Tangible fixed assets | 22/27 | €14,240 | €31,139 | +€16,899 | +119% |
| Furniture and vehicles | 24 | €14,240 | €31,139 | +€16,899 | +119% |
| Current assets | 29/58 | €24,709 | €56,368 | +€31,659 | +128% |
| Amounts receivable within one year | 40/41 | €18,091 | €23,743 | +€5,652 | +31.2% |
| Trade receivables | 40 | €16,474 | €11,146 | -€5,328 | -32.3% |
| Other amounts receivable | 41 | €1,617 | €12,597 | +€10,980 | +679% |
| Cash at bank and in hand | 54/58 | €3,849 | €20,083 | +€16,235 | +422% |
| Deferred charges and accrued income | 490/1 | €2,770 | €12,543 | +€9,773 | +353% |
| Total equity and liabilities | 10/49 | €38,949 | €87,507 | +€48,558 | +125% |
| Equity | 10/15 | €288 | €11,066 | +€10,778 | +3,741% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,404 | €1,404 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,404 | €1,404 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,404 | €1,404 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,316 | €3,462 | +€10,778 | |
| Amounts payable | 17/49 | €38,661 | €76,441 | +€37,780 | +97.7% |
| Amounts payable after more than one year | 17 | €17,973 | €13,056 | -€4,917 | -27.4% |
| Financial debts | 170/4 | €17,973 | €13,056 | -€4,917 | -27.4% |
| Amounts payable within one year | 42/48 | €20,688 | €63,385 | +€42,697 | +206% |
| Financial debts | 43 | €4,619 | €4,917 | +€298 | +6.5% |
| Credit institutions | 430/8 | €4,619 | €4,917 | +€298 | +6.5% |
| Trade debts | 44 | €13,385 | €51,072 | +€37,686 | +282% |
| Suppliers | 440/4 | €13,385 | €51,072 | +€37,686 | +282% |
| Taxes, remuneration and social security | 45 | €1,500 | €3,982 | +€2,482 | +165% |
| Taxes | 450/3 | - | €3,982 | +€3,982 | |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €1,184 | €3,414 | +€2,230 | +188% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,407 | €9,885 | +€7,479 | +311% |
| Other operating charges | 640/8 | €1,156 | €4,127 | +€2,971 | +257% |
| Gross operating margin | 9900 | €7,146 | €31,001 | +€23,855 | +334% |
| Operating profit (loss) | 9901 | €3,584 | €16,989 | +€13,405 | +374% |
| Financial income | 75/76B | €6 | €10 | +€3 | +53.1% |
| Recurring financial income | 75 | €6 | €10 | +€3 | +53.1% |
| Financial charges | 65/66B | €1,476 | €2,088 | +€612 | +41.5% |
| Recurring financial charges | 65 | €1,476 | €2,088 | +€612 | +41.5% |
| Profit (loss) for the period before taxes | 9903 | €2,114 | €14,910 | +€12,796 | +605% |
| Income taxes | 67/77 | €1 | €4,132 | +€4,131 | +737,763% |
| Profit (loss) for the period | 9904 | €2,114 | €10,778 | +€8,665 | +410% |
| Profit (loss) for the period to be appropriated | 9905 | €2,114 | €10,778 | +€8,665 | +410% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.