SMG Group: 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.
What changed
SMG Group
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€335,252
2024 · €303,129+€32,123
Equity
€7.3m
2024 · €7.0m+€335,252
Cash
€245,577
2024 · €190,258+€55,319
Balance sheet total
€31.1m
2024 · €31.4m-€254,209
Largest movements
Assets
- Financial fixed assets -€1.1m
down €1.1m (-3.6%), from €30.2m to €29.1m
- Tangible fixed assets +€906,632
up €906,632, from €0 to €906,632
of which Land and buildings: +€906,632
Equity and liabilities
- Current portion of long-term debt -€9.2m
down €9.2m (-85.9%), from €10.7m to €1.5m
- Debts after one year +€8.6m
up €8.6m (+64.0%), from €13.4m to €21.9m
- Profit (loss) carried forward +€335,252
up €335,252 (+34.8%), from €963,959 to €1.3m
Income statement
- Financial charges -€128,896
down €128,896 (-16.4%), from €785,932 to €657,036
- Financial income -€90,386
down €90,386 (-38.9%), from €232,628 to €142,242
- Services and other goods +€42,365
up €42,365 (+10.8%), from €391,160 to €433,525
- Other operating income +€31,679
up €31,679 (+675%), from €4,691 to €36,370
- Turnover +€30,000
up €30,000 (+2.0%), from €1.5m to €1.5m
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.
Result 2024
€303,129
Turnover
+€30,000
Other operating income
+€31,679
Services and other goods
-€42,365
Staff costs
-€2,045
Depreciation
-€4,396
Other operating charges
-€15,247
Financial income
-€90,386
Financial charges
+€128,896
Taxes
-€4,013
Result 2025
€335,252
raises the resultlowers the result
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.
From operations
+€489,684
Investment
+€163,806
Financing
-€598,172
Cash 2024
€190,258
From operations (derived)
+€489,684
Net result for the year
+€335,252
Depreciation
+€4,658
Receivables within one year
+€132,009
Smaller working-capital items
+€17,766
Investment (derived)
+€163,806
Investment in fixed assets (net)
+€163,806
Financing
-€598,172
Debts after one year
+€8.6m
Current portion of long-term debt
-€9.2m
Cash 2025
€245,577
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €31,382,767 | €31,128,558 | -€254,209 | -0.8% |
| Fixed assets | 21/28 | €30,198,974 | €30,030,509 | -€168,464 | -0.6% |
| Tangible fixed assets | 22/27 | €0 | €906,632 | +€906,632 | |
| Land and buildings | 22 | - | €906,632 | +€906,632 | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €30,198,974 | €29,123,878 | -€1.1m | -3.6% |
| Affiliated companies | 280/1 | €30,198,974 | €29,123,878 | -€1.1m | -3.6% |
| Participating interests | 280 | €30,198,974 | €29,123,878 | -€1.1m | -3.6% |
| Current assets | 29/58 | €1,183,794 | €1,098,049 | -€85,745 | -7.2% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €275,834 | €143,825 | -€132,009 | -47.9% |
| Trade receivables | 40 | €78,650 | €99,825 | +€21,175 | +26.9% |
| Other amounts receivable | 41 | €197,184 | €44,000 | -€153,184 | -77.7% |
| Cash at bank and in hand | 54/58 | €190,258 | €245,577 | +€55,319 | +29.1% |
| Deferred charges and accrued income | 490/1 | €717,702 | €708,647 | -€9,054 | -1.3% |
| Total equity and liabilities | 10/49 | €31,382,767 | €31,128,558 | -€254,209 | -0.8% |
| Equity | 10/15 | €6,963,959 | €7,299,211 | +€335,252 | +4.8% |
| Contributions | 10/11 | €6,000,000 | €6,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €963,959 | €1,299,211 | +€335,252 | +34.8% |
| Amounts payable | 17/49 | €24,418,808 | €23,829,348 | -€589,461 | -2.4% |
| Amounts payable after more than one year | 17 | €13,357,648 | €21,912,772 | +€8.6m | +64.0% |
| Financial debts | 170/4 | €13,357,648 | €21,912,772 | +€8.6m | +64.0% |
| Subordinated loans | 170 | €0 | €9,805,621 | +€9.8m | |
| Credit institutions | 173 | €4,500,000 | €3,750,000 | -€750,000 | -16.7% |
| Other loans | 174 | €8,857,648 | €8,357,151 | -€500,496 | -5.7% |
| Amounts payable within one year | 42/48 | €10,728,144 | €1,579,064 | -€9.1m | -85.3% |
| Current portion of amounts payable after more than one year | 42 | €10,653,296 | €1,500,000 | -€9.2m | -85.9% |
| Trade debts | 44 | €23,522 | €31,111 | +€7,589 | +32.3% |
| Suppliers | 440/4 | €23,522 | €31,111 | +€7,589 | +32.3% |
| Taxes, remuneration and social security | 45 | €51,327 | €46,953 | -€4,373 | -8.5% |
| Taxes | 450/3 | €32,018 | €27,157 | -€4,861 | -15.2% |
| Remuneration and social security | 454/9 | €19,309 | €19,797 | +€488 | +2.5% |
| Other amounts payable | 47/48 | - | €1,000 | +€1,000 | |
| Accrued charges and deferred income | 492/3 | €333,016 | €337,511 | +€4,495 | +1.3% |
| Operating income | 70/76A | €1,484,691 | €1,546,370 | +€61,679 | +4.2% |
| Turnover | 70 | €1,480,000 | €1,510,000 | +€30,000 | +2.0% |
| Other operating income | 74 | €4,691 | €36,370 | +€31,679 | +675% |
| Operating charges | 60/66A | €526,129 | €590,182 | +€64,053 | +12.2% |
| Services and other goods | 61 | €391,160 | €433,525 | +€42,365 | +10.8% |
| Remuneration, social security and pensions | 62 | €132,900 | €134,945 | +€2,045 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €262 | €4,658 | +€4,396 | +1,679% |
| Other operating charges | 640/8 | €1,806 | €17,054 | +€15,247 | +844% |
| Operating profit (loss) | 9901 | €958,562 | €956,188 | -€2,374 | -0.2% |
| Financial income | 75/76B | €232,628 | €142,242 | -€90,386 | -38.9% |
| Recurring financial income | 75 | €232,628 | €142,242 | -€90,386 | -38.9% |
| Income from financial fixed assets | 750 | €232,627 | €140,284 | -€92,343 | -39.7% |
| Income from current assets | 751 | - | €1,958 | +€1,958 | |
| Other financial income | 752/9 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €785,932 | €657,036 | -€128,896 | -16.4% |
| Recurring financial charges | 65 | €785,932 | €657,036 | -€128,896 | -16.4% |
| Debt charges | 650 | €784,143 | €654,546 | -€129,597 | -16.5% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €0 | - | = | |
| Other financial charges | 652/9 | €1,789 | €2,491 | +€701 | +39.2% |
| Profit (loss) for the period before taxes | 9903 | €405,258 | €441,394 | +€36,136 | +8.9% |
| Income taxes | 67/77 | €102,129 | €106,143 | +€4,013 | +3.9% |
| Taxes | 670/3 | €102,129 | €106,587 | +€4,458 | +4.4% |
| Tax adjustments and reversals of tax provisions | 77 | - | €445 | +€445 | |
| Profit (loss) for the period | 9904 | €303,129 | €335,252 | +€32,123 | +10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €303,129 | €335,252 | +€32,123 | +10.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.