SMELL STORIES: what changed
SMELL STORIES
Largest movements
- Cash -€13,328
down €13,328 (-41.8%), from €31,871 to €18,543
mainly Net result for the year (-€39,034) and Stocks and contracts (-€11,419)
- Stocks and contracts +€11,419
up €11,419 (+16.0%), from €71,500 to €82,919
- Tangible fixed assets -€6,175
down €6,175 (-21.2%), from €29,194 to €23,019
of which Plant, machinery and equipment: -€5,712
- Receivables within one year -€3,387
no longer reported in 2025 (was €3,387)
- Profit (loss) carried forward -€39,034
down €39,034, from €12,767 to -€26,268
- Tax, wage and social debts +€26,093
up €26,093 (+58.8%), from €44,385 to €70,478
of which Remuneration and social security: +€33,500
- Other debts +€2,674
up €2,674 (+104%), from €2,566 to €5,240
- Gross operating margin -€34,859
down €34,859, from €8,702 to -€26,157
- Staff costs +€2,480
new in 2025: €2,480
- Other operating charges +€1,626
new in 2025: €1,626
- Depreciation -€1,296
down €1,296 (-17.3%), from €7,471 to €6,175
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €144,011 | €132,539 | -€11,471 | -8.0% |
| Fixed assets | 21/28 | €37,252 | €31,077 | -€6,175 | -16.6% |
| Tangible fixed assets | 22/27 | €29,194 | €23,019 | -€6,175 | -21.2% |
| Plant, machinery and equipment | 23 | €28,544 | €22,832 | -€5,712 | -20.0% |
| Furniture and vehicles | 24 | €650 | €187 | -€463 | -71.3% |
| Financial fixed assets | 28 | €8,058 | €8,058 | = | 0.0% |
| Current assets | 29/58 | €106,758 | €101,463 | -€5,296 | -5.0% |
| Stocks and contracts in progress | 3 | €71,500 | €82,919 | +€11,419 | +16.0% |
| Stocks | 30/36 | €71,500 | €82,919 | +€11,419 | +16.0% |
| Amounts receivable within one year | 40/41 | €3,387 | - | -€3,387 | |
| Other amounts receivable | 41 | €3,387 | - | -€3,387 | |
| Cash at bank and in hand | 54/58 | €31,871 | €18,543 | -€13,328 | -41.8% |
| Total equity and liabilities | 10/49 | €144,011 | €132,539 | -€11,471 | -8.0% |
| Equity | 10/15 | €92,767 | €53,732 | -€39,034 | -42.1% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Capital | 10 | €80,000 | €80,000 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,767 | -€26,268 | -€39,034 | |
| Amounts payable | 17/49 | €51,244 | €78,807 | +€27,563 | +53.8% |
| Amounts payable within one year | 42/48 | €51,244 | €78,807 | +€27,563 | +53.8% |
| Trade debts | 44 | €4,293 | €3,089 | -€1,204 | -28.0% |
| Suppliers | 440/4 | €4,293 | €3,089 | -€1,204 | -28.0% |
| Taxes, remuneration and social security | 45 | €44,385 | €70,478 | +€26,093 | +58.8% |
| Taxes | 450/3 | €16,385 | €8,978 | -€7,407 | -45.2% |
| Remuneration and social security | 454/9 | €28,000 | €61,500 | +€33,500 | +120% |
| Other amounts payable | 47/48 | €2,566 | €5,240 | +€2,674 | +104% |
| Remuneration, social security and pensions | 62 | - | €2,480 | +€2,480 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,471 | €6,175 | -€1,296 | -17.3% |
| Other operating charges | 640/8 | - | €1,626 | +€1,626 | |
| Gross operating margin | 9900 | €8,702 | -€26,157 | -€34,859 | |
| Operating profit (loss) | 9901 | €1,231 | -€36,439 | -€37,669 | |
| Financial income | 75/76B | €240 | €7 | -€233 | -97.1% |
| Recurring financial income | 75 | €240 | €7 | -€233 | -97.1% |
| Financial charges | 65/66B | €2,763 | €2,603 | -€160 | -5.8% |
| Recurring financial charges | 65 | €2,763 | €2,603 | -€160 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,293 | -€39,034 | -€37,742 | -2,920% |
| Income taxes | 67/77 | €225 | - | -€225 | |
| Profit (loss) for the period | 9904 | -€1,518 | -€39,034 | -€37,516 | -2,471% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,518 | -€39,034 | -€37,516 | -2,471% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.