SMEDOC: what changed
Two fiscal 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.
SMEDOC
Largest movements
- Cash +€28,673
up €28,673 (+84.6%), from €33,888 to €62,561
mainly Net result for the year (+€21,706) and Deferred charges and accrued income (+€19,143)
- Receivables within one year +€21,492
up €21,492 (+429.3%), from €5,007 to €26,499
of which Other amounts receivable: +€14,478
- Deferred charges and accrued income -€19,143
down €19,143 (-89.6%), from €21,357 to €2,214
- Tangible fixed assets -€9,075
down €9,075 (-42.8%), from €21,181 to €12,106
of which Furniture and vehicles: -€5,133
- Reserves +€20,873
up €20,873 (+36.0%), from €57,973 to €78,846
- Gross operating margin -€55,991
down €55,991 (-56.1%), from €99,833 to €43,842
- Taxes -€14,405
down €14,405 (-57.6%), from €24,994 to €10,589
- Staff costs -€2,775
no longer reported in 2025 (was €2,775)
- Depreciation -€1,458
down €1,458 (-13.8%), from €10,534 to €9,075
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 | €81,434 | €103,381 | +€21,947 | +27.0% |
| Fixed assets | 21/28 | €21,181 | €12,106 | -€9,075 | -42.8% |
| Tangible fixed assets | 22/27 | €21,181 | €12,106 | -€9,075 | -42.8% |
| Plant, machinery and equipment | 23 | €1,125 | - | -€1,125 | |
| Furniture and vehicles | 24 | €8,304 | €3,171 | -€5,133 | -61.8% |
| Other tangible fixed assets | 26 | €11,752 | €8,935 | -€2,817 | -24.0% |
| Current assets | 29/58 | €60,252 | €91,274 | +€31,022 | +51.5% |
| Amounts receivable within one year | 40/41 | €5,007 | €26,499 | +€21,492 | +429.3% |
| Trade receivables | 40 | - | €7,014 | +€7,014 | |
| Other amounts receivable | 41 | €5,007 | €19,485 | +€14,478 | +289.2% |
| Cash at bank and in hand | 54/58 | €33,888 | €62,561 | +€28,673 | +84.6% |
| Deferred charges and accrued income | 490/1 | €21,357 | €2,214 | -€19,143 | -89.6% |
| Total equity and liabilities | 10/49 | €81,434 | €103,381 | +€21,947 | +27.0% |
| Equity | 10/15 | €60,973 | €81,846 | +€20,873 | +34.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €57,973 | €78,846 | +€20,873 | +36.0% |
| Distributable reserves | 133 | €57,973 | €78,846 | +€20,873 | +36.0% |
| Amounts payable | 17/49 | €20,460 | €21,534 | +€1,074 | +5.2% |
| Amounts payable within one year | 42/48 | €20,422 | €20,581 | +€159 | +0.8% |
| Trade debts | 44 | €633 | €591 | -€42 | -6.7% |
| Suppliers | 440/4 | €633 | €591 | -€42 | -6.7% |
| Other amounts payable | 47/48 | €19,789 | €19,990 | +€201 | +1.0% |
| Accrued charges and deferred income | 492/3 | €38 | €953 | +€915 | +2391.9% |
| Remuneration, social security and pensions | 62 | €2,775 | - | -€2,775 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,534 | €9,075 | -€1,458 | -13.8% |
| Other operating charges | 640/8 | €1,242 | €739 | -€504 | -40.5% |
| Gross operating margin | 9900 | €99,833 | €43,842 | -€55,991 | -56.1% |
| Operating profit (loss) | 9901 | €85,283 | €34,029 | -€51,254 | -60.1% |
| Financial income | 75/76B | €152 | - | -€152 | |
| Recurring financial income | 75 | €152 | - | -€152 | |
| Financial charges | 65/66B | €1,608 | €1,734 | +€125 | +7.8% |
| Recurring financial charges | 65 | €1,608 | €1,734 | +€125 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €83,827 | €32,295 | -€51,532 | -61.5% |
| Income taxes | 67/77 | €24,994 | €10,589 | -€14,405 | -57.6% |
| Profit (loss) for the period | 9904 | €58,832 | €21,706 | -€37,127 | -63.1% |
| Profit (loss) for the period to be appropriated | 9905 | €58,832 | €21,706 | -€37,127 | -63.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.