{SMEYS}: 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.
{SMEYS}
Largest movements
- Intangible fixed assets -€370,459
down €370,459 (-20.6%), from €1.8m to €1.4m
- Tangible fixed assets +€107,568
up €107,568 (+122%), from €88,196 to €195,764
of which Other tangible fixed assets: +€113,460
- Receivables within one year +€80,599
up €80,599 (+19.1%), from €420,951 to €501,550
- Deferred charges and accrued income +€39,623
up €39,623 (+55.8%), from €70,999 to €110,622
- Debts after one year -€203,308
down €203,308 (-15.7%), from €1.3m to €1.1m
- Current portion of long-term debt +€33,047
up €33,047 (+8.2%), from €401,697 to €434,744
- Trade debts +€27,706
up €27,706 (+132%), from €20,981 to €48,687
- Staff costs +€77,761
up €77,761 (+19.7%), from €394,832 to €472,593
- Depreciation +€27,875
up €27,875 (+8.0%), from €348,129 to €376,004
- Taxes -€25,049
down €25,049 (-62.2%), from €40,257 to €15,208
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 | €2,381,662 | €2,261,283 | -€120,379 | -5.1% |
| Fixed assets | 21/28 | €1,889,086 | €1,626,195 | -€262,891 | -13.9% |
| Intangible fixed assets | 21 | €1,798,537 | €1,428,078 | -€370,459 | -20.6% |
| Tangible fixed assets | 22/27 | €88,196 | €195,764 | +€107,568 | +122% |
| Plant, machinery and equipment | 23 | €9,344 | €6,201 | -€3,143 | -33.6% |
| Furniture and vehicles | 24 | €50,799 | €48,049 | -€2,750 | -5.4% |
| Other tangible fixed assets | 26 | €28,053 | €141,513 | +€113,460 | +404% |
| Financial fixed assets | 28 | €2,353 | €2,353 | = | 0.0% |
| Current assets | 29/58 | €492,576 | €635,088 | +€142,512 | +28.9% |
| Amounts receivable within one year | 40/41 | €420,951 | €501,550 | +€80,599 | +19.1% |
| Other amounts receivable | 41 | €420,951 | €501,550 | +€80,599 | +19.1% |
| Cash at bank and in hand | 54/58 | €627 | €22,916 | +€22,290 | +3,556% |
| Deferred charges and accrued income | 490/1 | €70,999 | €110,622 | +€39,623 | +55.8% |
| Total equity and liabilities | 10/49 | €2,381,662 | €2,261,283 | -€120,379 | -5.1% |
| Equity | 10/15 | €108,225 | €108,225 | = | 0.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €98,225 | €98,225 | = | 0.0% |
| Amounts payable | 17/49 | €2,273,437 | €2,153,058 | -€120,379 | -5.3% |
| Amounts payable after more than one year | 17 | €1,298,498 | €1,095,191 | -€203,308 | -15.7% |
| Financial debts | 170/4 | €1,298,498 | €1,095,191 | -€203,308 | -15.7% |
| Amounts payable within one year | 42/48 | €974,939 | €1,057,867 | +€82,928 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €401,697 | €434,744 | +€33,047 | +8.2% |
| Trade debts | 44 | €20,981 | €48,687 | +€27,706 | +132% |
| Suppliers | 440/4 | €20,981 | €48,687 | +€27,706 | +132% |
| Taxes, remuneration and social security | 45 | €109,262 | €109,616 | +€354 | +0.3% |
| Taxes | 450/3 | €36,547 | €43,238 | +€6,691 | +18.3% |
| Remuneration and social security | 454/9 | €72,714 | €66,377 | -€6,337 | -8.7% |
| Other amounts payable | 47/48 | €443,000 | €464,821 | +€21,821 | +4.9% |
| Remuneration, social security and pensions | 62 | €394,832 | €472,593 | +€77,761 | +19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €348,129 | €376,004 | +€27,875 | +8.0% |
| Other operating charges | 640/8 | €4,477 | €4,252 | -€225 | -5.0% |
| Gross operating margin | 9900 | €1,194,108 | €1,202,185 | +€8,077 | +0.7% |
| Operating profit (loss) | 9901 | €446,670 | €349,336 | -€97,334 | -21.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €54,176 | €52,379 | -€1,797 | -3.3% |
| Recurring financial charges | 65 | €54,176 | €52,379 | -€1,797 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €392,494 | €296,957 | -€95,537 | -24.3% |
| Income taxes | 67/77 | €40,257 | €15,208 | -€25,049 | -62.2% |
| Profit (loss) for the period | 9904 | €352,237 | €281,749 | -€70,488 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €352,237 | €281,749 | -€70,488 | -20.0% |
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 30 October 2026 via checked.be.