SMILE THERAPY: 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 THERAPY
Largest movements
- Current investments +€130,000
new in 2025: €130,000
- Receivables within one year -€120,113
down €120,113 (-49.2%), from €244,293 to €124,180
of which Other amounts receivable: -€107,243
- Cash +€61,085
up €61,085 (+174%), from €35,090 to €96,175
mainly Receivables within one year (+€120,113) and Net result for the year (+€104,026)
- Intangible fixed assets -€38,892
down €38,892 (-21.5%), from €181,175 to €142,284
- Deferred charges and accrued income -€11,722
down €11,722 (-23.4%), from €50,183 to €38,461
- Debts after one year -€66,804
down €66,804 (-16.8%), from €398,746 to €331,942
- Reserves +€62,500
up €62,500 (+22.4%), from €279,500 to €342,000
- Other debts -€22,982
down €22,982 (-37.2%), from €61,784 to €38,803
- Short-term financial debts +€17,749
new in 2025: €17,749
- Accrued charges and deferred income +€14,290
up €14,290 (+78.6%), from €18,187 to €32,477
- Gross operating margin +€185,401
up €185,401 (+85.8%), from €216,134 to €401,535
- Staff costs +€107,765
up €107,765 (+508%), from €21,211 to €128,975
- Depreciation +€59,660
up €59,660 (+172%), from €34,641 to €94,300
- Financial charges +€10,589
up €10,589 (+123%), from €8,609 to €19,198
- Taxes +€9,069
up €9,069 (+19.3%), from €46,927 to €55,996
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 | €931,439 | €960,101 | +€28,662 | +3.1% |
| Fixed assets | 21/28 | €601,872 | €571,285 | -€30,588 | -5.1% |
| Intangible fixed assets | 21 | €181,175 | €142,284 | -€38,892 | -21.5% |
| Tangible fixed assets | 22/27 | €420,672 | €428,976 | +€8,304 | +2.0% |
| Land and buildings | 22 | €250,049 | €242,334 | -€7,715 | -3.1% |
| Plant, machinery and equipment | 23 | €1,694 | €7,461 | +€5,766 | +340% |
| Furniture and vehicles | 24 | €165,697 | €136,028 | -€29,669 | -17.9% |
| Leasing and similar rights | 25 | €2,458 | €1,958 | -€500 | -20.3% |
| Other tangible fixed assets | 26 | €773 | €13,252 | +€12,479 | +1,615% |
| Assets under construction and advance payments | 27 | - | €27,942 | +€27,942 | |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €329,566 | €388,816 | +€59,250 | +18.0% |
| Amounts receivable within one year | 40/41 | €244,293 | €124,180 | -€120,113 | -49.2% |
| Trade receivables | 40 | €32,785 | €19,915 | -€12,870 | -39.3% |
| Other amounts receivable | 41 | €211,508 | €104,265 | -€107,243 | -50.7% |
| Current investments | 50/53 | - | €130,000 | +€130,000 | |
| Cash at bank and in hand | 54/58 | €35,090 | €96,175 | +€61,085 | +174% |
| Deferred charges and accrued income | 490/1 | €50,183 | €38,461 | -€11,722 | -23.4% |
| Total equity and liabilities | 10/49 | €931,439 | €960,101 | +€28,662 | +3.1% |
| Equity | 10/15 | €296,084 | €358,610 | +€62,526 | +21.1% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €279,500 | €342,000 | +€62,500 | +22.4% |
| Distributable reserves | 133 | €279,500 | €342,000 | +€62,500 | +22.4% |
| Profit (loss) carried forward | 14 | €8,524 | €8,550 | +€26 | +0.3% |
| Amounts payable | 17/49 | €635,354 | €601,491 | -€33,863 | -5.3% |
| Amounts payable after more than one year | 17 | €398,746 | €331,942 | -€66,804 | -16.8% |
| Financial debts | 170/4 | €398,746 | €331,942 | -€66,804 | -16.8% |
| Amounts payable within one year | 42/48 | €218,421 | €237,072 | +€18,651 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €73,933 | €72,256 | -€1,676 | -2.3% |
| Financial debts | 43 | - | €17,749 | +€17,749 | |
| Credit institutions | 430/8 | - | €17,749 | +€17,749 | |
| Trade debts | 44 | €45,759 | €57,746 | +€11,986 | +26.2% |
| Suppliers | 440/4 | €45,759 | €57,746 | +€11,986 | +26.2% |
| Taxes, remuneration and social security | 45 | €36,945 | €50,519 | +€13,574 | +36.7% |
| Taxes | 450/3 | €27,735 | €30,604 | +€2,869 | +10.3% |
| Remuneration and social security | 454/9 | €9,209 | €19,915 | +€10,705 | +116% |
| Other amounts payable | 47/48 | €61,784 | €38,803 | -€22,982 | -37.2% |
| Accrued charges and deferred income | 492/3 | €18,187 | €32,477 | +€14,290 | +78.6% |
| Remuneration, social security and pensions | 62 | €21,211 | €128,975 | +€107,765 | +508% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,641 | €94,300 | +€59,660 | +172% |
| Other operating charges | 640/8 | €5,259 | €1,070 | -€4,189 | -79.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €216,134 | €401,535 | +€185,401 | +85.8% |
| Operating profit (loss) | 9901 | €155,023 | €177,189 | +€22,166 | +14.3% |
| Financial income | 75/76B | €3,058 | €2,031 | -€1,028 | -33.6% |
| Recurring financial income | 75 | €3,058 | €2,031 | -€1,028 | -33.6% |
| Financial charges | 65/66B | €8,609 | €19,198 | +€10,589 | +123% |
| Recurring financial charges | 65 | €8,609 | €19,198 | +€10,589 | +123% |
| Profit (loss) for the period before taxes | 9903 | €149,472 | €160,022 | +€10,549 | +7.1% |
| Income taxes | 67/77 | €46,927 | €55,996 | +€9,069 | +19.3% |
| Profit (loss) for the period | 9904 | €102,546 | €104,026 | +€1,480 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €102,546 | €104,026 | +€1,480 | +1.4% |
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 18 October 2026 via checked.be.