SMILE IMMO: 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 IMMO
Largest movements
- Tangible fixed assets -€15,722
down €15,722 (-6.4%), from €244,881 to €229,159
- Cash +€12,827
up €12,827 (+52.7%), from €24,351 to €37,178
mainly Depreciation (+€15,722) and Net result for the year (+€9,475)
- Debts after one year -€12,859
down €12,859 (-9.0%), from €142,419 to €129,560
- Reserves +€10,000
up €10,000 (+32.8%), from €30,500 to €40,500
of which Distributable reserves: +€10,000
- Depreciation +€2,421
up €2,421 (+18.2%), from €13,301 to €15,722
- Taxes -€478
down €478 (-13.0%), from €3,688 to €3,211
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 | €271,444 | €268,404 | -€3,040 | -1.1% |
| Fixed assets | 21/28 | €244,881 | €229,159 | -€15,722 | -6.4% |
| Tangible fixed assets | 22/27 | €244,881 | €229,159 | -€15,722 | -6.4% |
| Land and buildings | 22 | €244,881 | €229,159 | -€15,722 | -6.4% |
| Current assets | 29/58 | €26,563 | €39,245 | +€12,683 | +47.7% |
| Amounts receivable within one year | 40/41 | €2,212 | €2,068 | -€144 | -6.5% |
| Other amounts receivable | 41 | €2,212 | €2,068 | -€144 | -6.5% |
| Cash at bank and in hand | 54/58 | €24,351 | €37,178 | +€12,827 | +52.7% |
| Total equity and liabilities | 10/49 | €271,444 | €268,404 | -€3,040 | -1.1% |
| Equity | 10/15 | €57,111 | €66,587 | +€9,475 | +16.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Capital | 10 | €25,000 | €25,000 | = | 0.0% |
| Issued capital | 100 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €30,500 | €40,500 | +€10,000 | +32.8% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Legal reserve | 130 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €28,000 | €38,000 | +€10,000 | +35.7% |
| Profit (loss) carried forward | 14 | €1,611 | €1,087 | -€525 | -32.6% |
| Amounts payable | 17/49 | €214,332 | €201,817 | -€12,515 | -5.8% |
| Amounts payable after more than one year | 17 | €142,419 | €129,560 | -€12,859 | -9.0% |
| Financial debts | 170/4 | €142,419 | €129,560 | -€12,859 | -9.0% |
| Amounts payable within one year | 42/48 | €71,913 | €72,257 | +€344 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €12,672 | €12,859 | +€187 | +1.5% |
| Trade debts | 44 | - | €157 | +€157 | |
| Suppliers | 440/4 | - | €157 | +€157 | |
| Other amounts payable | 47/48 | €59,241 | €59,241 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,301 | €15,722 | +€2,421 | +18.2% |
| Other operating charges | 640/8 | €404 | €400 | -€4 | -1.0% |
| Gross operating margin | 9900 | €31,024 | €31,057 | +€33 | +0.1% |
| Operating profit (loss) | 9901 | €17,319 | €14,935 | -€2,385 | -13.8% |
| Financial charges | 65/66B | €2,433 | €2,249 | -€184 | -7.6% |
| Recurring financial charges | 65 | €2,433 | €2,249 | -€184 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €14,886 | €12,686 | -€2,200 | -14.8% |
| Income taxes | 67/77 | €3,688 | €3,211 | -€478 | -13.0% |
| Profit (loss) for the period | 9904 | €11,198 | €9,475 | -€1,722 | -15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,198 | €9,475 | -€1,722 | -15.4% |
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 20 October 2026 via checked.be.