SMD TRADING: 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 TRADING
Largest movements
- Receivables within one year +€1,805
up €1,805 (+77.9%), from €2,316 to €4,121
- Other debts +€5,975
up €5,975 (+16.9%), from €35,388 to €41,364
- Profit (loss) carried forward -€4,173
down €4,173 (-11.6%), from -€36,067 to -€40,241
- Taxes -€12,341
down €12,341 (-100%), from €12,341 to €0
- Other operating charges +€1,155
up €1,155 (+195%), from €592 to €1,747
- Gross operating margin +€917
up €917 (+27.9%), from -€3,284 to -€2,367
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 | €2,321 | €4,123 | +€1,802 | +77.7% |
| Current assets | 29/58 | €2,321 | €4,123 | +€1,802 | +77.7% |
| Amounts receivable within one year | 40/41 | €2,316 | €4,121 | +€1,805 | +77.9% |
| Other amounts receivable | 41 | €2,316 | €4,121 | +€1,805 | +77.9% |
| Cash at bank and in hand | 54/58 | €5 | €2 | -€2 | -47.7% |
| Total equity and liabilities | 10/49 | €2,321 | €4,123 | +€1,802 | +77.7% |
| Equity | 10/15 | -€33,067 | -€37,241 | -€4,173 | -12.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,067 | -€40,241 | -€4,173 | -11.6% |
| Amounts payable | 17/49 | €35,388 | €41,364 | +€5,975 | +16.9% |
| Amounts payable within one year | 42/48 | €35,388 | €41,364 | +€5,975 | +16.9% |
| Other amounts payable | 47/48 | €35,388 | €41,364 | +€5,975 | +16.9% |
| Other operating charges | 640/8 | €592 | €1,747 | +€1,155 | +195% |
| Gross operating margin | 9900 | -€3,284 | -€2,367 | +€917 | +27.9% |
| Operating profit (loss) | 9901 | -€3,876 | -€4,114 | -€238 | -6.1% |
| Financial income | 75/76B | €6 | €0 | -€6 | -100% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -100% |
| Financial charges | 65/66B | €70 | €59 | -€11 | -16.3% |
| Recurring financial charges | 65 | €70 | €59 | -€11 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | -€3,940 | -€4,173 | -€233 | -5.9% |
| Income taxes | 67/77 | €12,341 | €0 | -€12,341 | -100% |
| Profit (loss) for the period | 9904 | -€16,282 | -€4,173 | +€12,108 | +74.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,282 | -€4,173 | +€12,108 | +74.4% |
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 29 October 2026 via checked.be.