SMICAL: 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.
SMICAL
Largest movements
- Receivables within one year +€14,249
up €14,249 (+86.4%), from €16,493 to €30,742
of which Trade receivables: +€14,249
- Tangible fixed assets -€14,120
down €14,120 (-84.4%), from €16,725 to €2,605
- Receivables after one year -€10,000
down €10,000 (-24.9%), from €40,100 to €30,100
- Financial fixed assets +€3,056
up €3,056 (+20.4%), from €15,000 to €18,056
- Cash -€1,973
no longer reported in 2025 (was €1,973)
mainly Net result for the year (-€27,885) and Receivables within one year (-€14,249)
- Profit (loss) carried forward -€27,885
down €27,885 (-27.5%), from -€101,379 to -€129,265
- Tax, wage and social debts +€16,915
up €16,915 (+22.0%), from €77,004 to €93,919
of which Taxes: +€12,769
- Advances received +€11,998
new in 2025: €11,998
- Short-term financial debts +€9,366
up €9,366 (+109.4%), from €8,561 to €17,927
- Trade debts -€8,823
down €8,823 (-34.8%), from €25,374 to €16,550
- Staff costs -€25,193
down €25,193 (-9.2%), from €272,520 to €247,327
- Depreciation -€7,670
down €7,670 (-85.1%), from €9,009 to €1,339
- Gross operating margin -€6,728
down €6,728 (-2.7%), from €250,671 to €243,942
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 | €94,562 | €85,333 | -€9,229 | -9.8% |
| Fixed assets | 21/28 | €31,725 | €20,661 | -€11,064 | -34.9% |
| Tangible fixed assets | 22/27 | €16,725 | €2,605 | -€14,120 | -84.4% |
| Furniture and vehicles | 24 | €16,725 | €2,605 | -€14,120 | -84.4% |
| Financial fixed assets | 28 | €15,000 | €18,056 | +€3,056 | +20.4% |
| Current assets | 29/58 | €62,837 | €64,672 | +€1,835 | +2.9% |
| Amounts receivable after more than one year | 29 | €40,100 | €30,100 | -€10,000 | -24.9% |
| Other amounts receivable | 291 | €40,100 | €30,100 | -€10,000 | -24.9% |
| Amounts receivable within one year | 40/41 | €16,493 | €30,742 | +€14,249 | +86.4% |
| Trade receivables | 40 | €15,187 | €29,437 | +€14,249 | +93.8% |
| Other amounts receivable | 41 | €1,305 | €1,305 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,973 | - | -€1,973 | |
| Deferred charges and accrued income | 490/1 | €4,272 | €3,830 | -€442 | -10.3% |
| Total equity and liabilities | 10/49 | €94,562 | €85,333 | -€9,229 | -9.8% |
| Equity | 10/15 | -€92,528 | -€120,413 | -€27,885 | -30.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €3,852 | €3,852 | = | 0.0% |
| Distributable reserves | 133 | €3,852 | €3,852 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€101,379 | -€129,265 | -€27,885 | -27.5% |
| Amounts payable | 17/49 | €187,089 | €205,746 | +€18,657 | +10.0% |
| Amounts payable after more than one year | 17 | €13,011 | €6,285 | -€6,725 | -51.7% |
| Financial debts | 170/4 | €13,011 | €6,285 | -€6,725 | -51.7% |
| Amounts payable within one year | 42/48 | €174,079 | €199,129 | +€25,050 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €8,864 | €6,725 | -€2,138 | -24.1% |
| Financial debts | 43 | €8,561 | €17,927 | +€9,366 | +109.4% |
| Credit institutions | 430/8 | €8,561 | €17,927 | +€9,366 | +109.4% |
| Trade debts | 44 | €25,374 | €16,550 | -€8,823 | -34.8% |
| Suppliers | 440/4 | €25,374 | €16,550 | -€8,823 | -34.8% |
| Advances received on contracts in progress | 46 | - | €11,998 | +€11,998 | |
| Taxes, remuneration and social security | 45 | €77,004 | €93,919 | +€16,915 | +22.0% |
| Taxes | 450/3 | €13,419 | €26,189 | +€12,769 | +95.2% |
| Remuneration and social security | 454/9 | €63,585 | €67,730 | +€4,145 | +6.5% |
| Other amounts payable | 47/48 | €54,276 | €52,009 | -€2,267 | -4.2% |
| Accrued charges and deferred income | 492/3 | - | €332 | +€332 | |
| Remuneration, social security and pensions | 62 | €272,520 | €247,327 | -€25,193 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,009 | €1,339 | -€7,670 | -85.1% |
| Other operating charges | 640/8 | €1,246 | €1,506 | +€259 | +20.8% |
| Non-recurring operating charges | 66A | - | €13,842 | +€13,842 | |
| Gross operating margin | 9900 | €250,671 | €243,942 | -€6,728 | -2.7% |
| Operating profit (loss) | 9901 | -€32,105 | -€20,071 | +€12,034 | +37.5% |
| Financial income | 75/76B | €1,101 | €1,038 | -€63 | -5.7% |
| Recurring financial income | 75 | €1,101 | €1,038 | -€63 | -5.7% |
| Financial charges | 65/66B | €9,947 | €8,775 | -€1,172 | -11.8% |
| Recurring financial charges | 65 | €9,947 | €8,775 | -€1,172 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | -€40,951 | -€27,808 | +€13,142 | +32.1% |
| Income taxes | 67/77 | €284 | €77 | -€208 | -72.9% |
| Profit (loss) for the period | 9904 | -€41,235 | -€27,885 | +€13,350 | +32.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€41,235 | -€27,885 | +€13,350 | +32.4% |
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 12 October 2026 via checked.be.