SMEcon: 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.
SMEcon
Largest movements
- Cash +€56,441
up €56,441 (+153.5%), from €36,769 to €93,210
mainly Net result for the year (+€53,396) and Receivables within one year (+€28,788)
- Receivables within one year -€28,788
down €28,788 (-94.8%), from €30,378 to €1,590
of which Trade receivables: -€30,378
- Deferred charges and accrued income +€2,250
up €2,250 (+775.0%), from €290 to €2,540
- Profit (loss) carried forward +€53,396
new in 2025: €53,396
- Other debts -€42,660
no longer reported in 2025 (was €42,660)
- Tax, wage and social debts +€15,805
up €15,805 (+76.1%), from €20,769 to €36,574
- Trade debts +€3,920
up €3,920 (+85.3%), from €4,597 to €8,517
- Gross operating margin +€19,250
up €19,250 (+38.3%), from €50,241 to €69,491
- Taxes +€4,616
up €4,616 (+45.6%), from €10,118 to €14,734
- Depreciation +€764
up €764 (+4081.3%), from €19 to €783
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.
Cash bridge derived
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 | €70,525 | €100,987 | +€30,461 | +43.2% |
| Fixed assets | 21/28 | €3,088 | €3,646 | +€559 | +18.1% |
| Tangible fixed assets | 22/27 | €3,088 | €3,646 | +€559 | +18.1% |
| Furniture and vehicles | 24 | €3,088 | €3,646 | +€559 | +18.1% |
| Current assets | 29/58 | €67,438 | €97,340 | +€29,903 | +44.3% |
| Amounts receivable within one year | 40/41 | €30,378 | €1,590 | -€28,788 | -94.8% |
| Trade receivables | 40 | €30,378 | - | -€30,378 | |
| Other amounts receivable | 41 | - | €1,590 | +€1,590 | |
| Cash at bank and in hand | 54/58 | €36,769 | €93,210 | +€56,441 | +153.5% |
| Deferred charges and accrued income | 490/1 | €290 | €2,540 | +€2,250 | +775.0% |
| Total equity and liabilities | 10/49 | €70,525 | €100,987 | +€30,461 | +43.2% |
| Equity | 10/15 | €2,500 | €55,896 | +€53,396 | +2135.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €53,396 | +€53,396 | |
| Amounts payable | 17/49 | €68,025 | €45,091 | -€22,935 | -33.7% |
| Amounts payable within one year | 42/48 | €68,025 | €45,091 | -€22,935 | -33.7% |
| Trade debts | 44 | €4,597 | €8,517 | +€3,920 | +85.3% |
| Suppliers | 440/4 | €4,597 | €8,517 | +€3,920 | +85.3% |
| Taxes, remuneration and social security | 45 | €20,769 | €36,574 | +€15,805 | +76.1% |
| Taxes | 450/3 | €20,769 | €36,574 | +€15,805 | +76.1% |
| Other amounts payable | 47/48 | €42,660 | - | -€42,660 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19 | €783 | +€764 | +4081.3% |
| Other operating charges | 640/8 | - | €115 | +€115 | |
| Gross operating margin | 9900 | €50,241 | €69,491 | +€19,250 | +38.3% |
| Operating profit (loss) | 9901 | €50,222 | €68,593 | +€18,371 | +36.6% |
| Financial charges | 65/66B | €13 | €463 | +€451 | +3568.0% |
| Recurring financial charges | 65 | €13 | €463 | +€451 | +3568.0% |
| Profit (loss) for the period before taxes | 9903 | €50,210 | €68,130 | +€17,920 | +35.7% |
| Income taxes | 67/77 | €10,118 | €14,734 | +€4,616 | +45.6% |
| Profit (loss) for the period | 9904 | €40,092 | €53,396 | +€13,304 | +33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €40,092 | €53,396 | +€13,304 | +33.2% |
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 10 October 2026 via checked.be.