SMG Consultants: 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.
SMG Consultants
Largest movements
- Receivables within one year +€99,213
up €99,213 (+328%), from €30,225 to €129,438
of which Other amounts receivable: +€75,166
- Cash -€80,350
down €80,350 (-81.1%), from €99,027 to €18,677
mainly Receivables within one year (-€99,213) and Contributions, distributions and other (-€90,000)
- Tangible fixed assets -€5,497
down €5,497 (-99.2%), from €5,539 to €43
- Other debts +€90,000
new in 2025: €90,000
- Profit (loss) carried forward -€62,297
down €62,297 (-78.9%), from €78,994 to €16,698
- Tax, wage and social debts -€10,004
down €10,004 (-62.5%), from €15,997 to €5,992
- Current portion of long-term debt -€4,065
no longer reported in 2025 (was €4,065)
- Gross operating margin -€7,114
down €7,114 (-15.0%), from €47,281 to €40,167
- Financial income +€2,124
up €2,124 (+269%), from €789 to €2,913
- Taxes -€1,739
down €1,739 (-16.2%), from €10,748 to €9,008
- Depreciation -€1,480
down €1,480 (-21.2%), from €6,976 to €5,497
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 | €135,687 | €148,829 | +€13,141 | +9.7% |
| Fixed assets | 21/28 | €5,539 | €43 | -€5,497 | -99.2% |
| Tangible fixed assets | 22/27 | €5,539 | €43 | -€5,497 | -99.2% |
| Furniture and vehicles | 24 | €5,539 | €43 | -€5,497 | -99.2% |
| Current assets | 29/58 | €130,148 | €148,786 | +€18,638 | +14.3% |
| Amounts receivable within one year | 40/41 | €30,225 | €129,438 | +€99,213 | +328% |
| Trade receivables | 40 | €11,300 | €35,347 | +€24,047 | +213% |
| Other amounts receivable | 41 | €18,925 | €94,091 | +€75,166 | +397% |
| Cash at bank and in hand | 54/58 | €99,027 | €18,677 | -€80,350 | -81.1% |
| Deferred charges and accrued income | 490/1 | €896 | €671 | -€225 | -25.1% |
| Total equity and liabilities | 10/49 | €135,687 | €148,829 | +€13,141 | +9.7% |
| Equity | 10/15 | €113,994 | €51,698 | -€62,297 | -54.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,994 | €16,698 | -€62,297 | -78.9% |
| Amounts payable | 17/49 | €21,693 | €97,131 | +€75,438 | +348% |
| Amounts payable within one year | 42/48 | €21,681 | €97,131 | +€75,450 | +348% |
| Current portion of amounts payable after more than one year | 42 | €4,065 | - | -€4,065 | |
| Financial debts | 43 | €127 | €21 | -€106 | -83.5% |
| Credit institutions | 430/8 | €127 | €21 | -€106 | -83.5% |
| Trade debts | 44 | €1,493 | €1,118 | -€376 | -25.2% |
| Suppliers | 440/4 | €1,493 | €1,118 | -€376 | -25.2% |
| Taxes, remuneration and social security | 45 | €15,997 | €5,992 | -€10,004 | -62.5% |
| Taxes | 450/3 | €15,997 | €5,992 | -€10,004 | -62.5% |
| Other amounts payable | 47/48 | - | €90,000 | +€90,000 | |
| Accrued charges and deferred income | 492/3 | €12 | - | -€12 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,976 | €5,497 | -€1,480 | -21.2% |
| Other operating charges | 640/8 | €517 | €532 | +€15 | +2.8% |
| Gross operating margin | 9900 | €47,281 | €40,167 | -€7,114 | -15.0% |
| Operating profit (loss) | 9901 | €39,787 | €34,139 | -€5,649 | -14.2% |
| Financial income | 75/76B | €789 | €2,913 | +€2,124 | +269% |
| Recurring financial income | 75 | €789 | €2,913 | +€2,124 | +269% |
| Financial charges | 65/66B | €419 | €340 | -€78 | -18.7% |
| Recurring financial charges | 65 | €419 | €340 | -€78 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €40,158 | €36,712 | -€3,446 | -8.6% |
| Income taxes | 67/77 | €10,748 | €9,008 | -€1,739 | -16.2% |
| Profit (loss) for the period | 9904 | €29,410 | €27,703 | -€1,707 | -5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,410 | €27,703 | -€1,707 | -5.8% |
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 31 October 2026 via checked.be.