SMILE: 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.
SMILE
Largest movements
- Cash +€12,346
up €12,346 (+39.9%), from €30,931 to €43,277
mainly Net result for the year (+€41,753) and Other debts (+€9,921)
- Tangible fixed assets -€5,400
down €5,400 (-26.1%), from €20,676 to €15,276
of which Furniture and vehicles: -€3,571
- Deferred charges and accrued income +€2,687
up €2,687 (+615.7%), from €436 to €3,123
- Other debts +€9,921
up €9,921 (+32.5%), from €30,504 to €40,426
- Trade debts +€6,093
up €6,093 (+117.2%), from €5,200 to €11,293
- Debts after one year -€5,354
down €5,354 (-70.0%), from €7,649 to €2,295
- Tax, wage and social debts -€722
down €722 (-15.6%), from €4,622 to €3,900
- Gross operating margin +€13,617
up €13,617 (+30.1%), from €45,226 to €58,843
- Depreciation +€1,525
up €1,525 (+27.5%), from €5,543 to €7,068
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 | €57,120 | €67,267 | +€10,147 | +17.8% |
| Fixed assets | 21/28 | €20,676 | €15,276 | -€5,400 | -26.1% |
| Tangible fixed assets | 22/27 | €20,676 | €15,276 | -€5,400 | -26.1% |
| Plant, machinery and equipment | 23 | €3,969 | €2,140 | -€1,829 | -46.1% |
| Furniture and vehicles | 24 | €16,706 | €13,136 | -€3,571 | -21.4% |
| Current assets | 29/58 | €36,444 | €51,991 | +€15,547 | +42.7% |
| Amounts receivable within one year | 40/41 | €5,077 | €5,592 | +€515 | +10.1% |
| Trade receivables | 40 | €3,653 | €3,653 | = | 0.0% |
| Other amounts receivable | 41 | €1,424 | €1,939 | +€515 | +36.1% |
| Cash at bank and in hand | 54/58 | €30,931 | €43,277 | +€12,346 | +39.9% |
| Deferred charges and accrued income | 490/1 | €436 | €3,123 | +€2,687 | +615.7% |
| Total equity and liabilities | 10/49 | €57,120 | €67,267 | +€10,147 | +17.8% |
| Equity | 10/15 | €4,000 | €4,000 | = | 0.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Amounts payable | 17/49 | €53,120 | €63,267 | +€10,147 | +19.1% |
| Amounts payable after more than one year | 17 | €7,649 | €2,295 | -€5,354 | -70.0% |
| Financial debts | 170/4 | €7,649 | €2,295 | -€5,354 | -70.0% |
| Amounts payable within one year | 42/48 | €45,471 | €60,972 | +€15,501 | +34.1% |
| Current portion of amounts payable after more than one year | 42 | €5,145 | €5,354 | +€209 | +4.1% |
| Trade debts | 44 | €5,200 | €11,293 | +€6,093 | +117.2% |
| Suppliers | 440/4 | €5,200 | €11,293 | +€6,093 | +117.2% |
| Taxes, remuneration and social security | 45 | €4,622 | €3,900 | -€722 | -15.6% |
| Taxes | 450/3 | €4,622 | €3,900 | -€722 | -15.6% |
| Other amounts payable | 47/48 | €30,504 | €40,426 | +€9,921 | +32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,543 | €7,068 | +€1,525 | +27.5% |
| Other operating charges | 640/8 | €395 | €404 | +€9 | +2.3% |
| Gross operating margin | 9900 | €45,226 | €58,843 | +€13,617 | +30.1% |
| Operating profit (loss) | 9901 | €39,287 | €51,371 | +€12,083 | +30.8% |
| Financial income | 75/76B | €22 | €30 | +€8 | +35.5% |
| Recurring financial income | 75 | €22 | €30 | +€8 | +35.5% |
| Financial charges | 65/66B | €836 | €813 | -€23 | -2.7% |
| Recurring financial charges | 65 | €836 | €813 | -€23 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €38,474 | €50,588 | +€12,114 | +31.5% |
| Income taxes | 67/77 | €8,576 | €8,835 | +€259 | +3.0% |
| Profit (loss) for the period | 9904 | €29,898 | €41,753 | +€11,855 | +39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €29,898 | €41,753 | +€11,855 | +39.7% |
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 9 October 2026 via checked.be.