SMILEM: what changed
Two fiscal 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.
SMILEM
Largest movements
- Receivables within one year +€40,108
up €40,108 (+94.7%), from €42,373 to €82,481
of which Trade receivables: +€27,289
- Deferred charges and accrued income -€33,733
down €33,733 (-88.3%), from €38,223 to €4,490
- Cash +€15,187
up €15,187 (+166.7%), from €9,108 to €24,295
mainly Net result for the year (+€57,168) and Deferred charges and accrued income (+€33,733)
- Tangible fixed assets -€6,783
down €6,783 (-9.9%), from €68,296 to €61,513
of which Plant, machinery and equipment: -€6,959
- Reserves +€25,897
up €25,897 (+55.1%), from €47,038 to €72,935
of which Distributable reserves: +€25,897
- Debts after one year -€9,005
down €9,005 (-45.4%), from €19,820 to €10,815
- Short-term financial debts -€6,549
down €6,549 (-100.0%), from €6,549 to €0
- Current portion of long-term debt -€5,336
down €5,336 (-37.2%), from €14,341 to €9,005
- Tax, wage and social debts +€4,190
up €4,190 (+27.0%), from €15,527 to €19,717
- Gross operating margin +€21,999
up €21,999 (+26.5%), from €82,912 to €104,911
- Taxes +€4,195
up €4,195 (+27.0%), from €15,527 to €19,722
- Financial charges +€2,125
up €2,125 (+22.5%), from €9,448 to €11,573
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 | €158,000 | €172,779 | +€14,779 | +9.4% |
| Fixed assets | 21/28 | €68,296 | €61,513 | -€6,783 | -9.9% |
| Tangible fixed assets | 22/27 | €68,296 | €61,513 | -€6,783 | -9.9% |
| Plant, machinery and equipment | 23 | €56,616 | €49,657 | -€6,959 | -12.3% |
| Furniture and vehicles | 24 | €4,205 | €7,194 | +€2,989 | +71.1% |
| Other tangible fixed assets | 26 | €7,475 | €4,662 | -€2,813 | -37.6% |
| Current assets | 29/58 | €89,704 | €111,266 | +€21,562 | +24.0% |
| Amounts receivable within one year | 40/41 | €42,373 | €82,481 | +€40,108 | +94.7% |
| Trade receivables | 40 | €2,558 | €29,847 | +€27,289 | +1066.8% |
| Other amounts receivable | 41 | €39,815 | €52,634 | +€12,819 | +32.2% |
| Cash at bank and in hand | 54/58 | €9,108 | €24,295 | +€15,187 | +166.7% |
| Deferred charges and accrued income | 490/1 | €38,223 | €4,490 | -€33,733 | -88.3% |
| Total equity and liabilities | 10/49 | €158,000 | €172,779 | +€14,779 | +9.4% |
| Equity | 10/15 | €67,038 | €92,935 | +€25,897 | +38.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €47,038 | €72,935 | +€25,897 | +55.1% |
| Non-distributable reserves | 130/1 | €573 | €573 | = | 0.0% |
| Other | 1319 | €573 | €573 | = | 0.0% |
| Distributable reserves | 133 | €46,465 | €72,362 | +€25,897 | +55.7% |
| Amounts payable | 17/49 | €90,962 | €79,844 | -€11,118 | -12.2% |
| Amounts payable after more than one year | 17 | €19,820 | €10,815 | -€9,005 | -45.4% |
| Financial debts | 170/4 | €19,820 | €10,815 | -€9,005 | -45.4% |
| Amounts payable within one year | 42/48 | €70,972 | €68,796 | -€2,176 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €14,341 | €9,005 | -€5,336 | -37.2% |
| Financial debts | 43 | €6,549 | €0 | -€6,549 | -100.0% |
| Credit institutions | 430/8 | €6,549 | €0 | -€6,549 | -100.0% |
| Trade debts | 44 | €6,555 | €8,802 | +€2,247 | +34.3% |
| Suppliers | 440/4 | €6,555 | €8,802 | +€2,247 | +34.3% |
| Taxes, remuneration and social security | 45 | €15,527 | €19,717 | +€4,190 | +27.0% |
| Taxes | 450/3 | €15,527 | €19,717 | +€4,190 | +27.0% |
| Other amounts payable | 47/48 | €28,000 | €31,272 | +€3,272 | +11.7% |
| Accrued charges and deferred income | 492/3 | €170 | €233 | +€63 | +37.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,225 | €11,683 | +€458 | +4.1% |
| Other operating charges | 640/8 | €4,701 | €4,235 | -€466 | -9.9% |
| Non-recurring operating charges | 66A | €335 | €549 | +€214 | +63.9% |
| Gross operating margin | 9900 | €82,912 | €104,911 | +€21,999 | +26.5% |
| Operating profit (loss) | 9901 | €66,651 | €88,444 | +€21,793 | +32.7% |
| Financial income | 75/76B | €101 | €19 | -€82 | -81.2% |
| Recurring financial income | 75 | €101 | €19 | -€82 | -81.2% |
| Financial charges | 65/66B | €9,448 | €11,573 | +€2,125 | +22.5% |
| Recurring financial charges | 65 | €9,448 | €11,573 | +€2,125 | +22.5% |
| Profit (loss) for the period before taxes | 9903 | €57,304 | €76,890 | +€19,586 | +34.2% |
| Income taxes | 67/77 | €15,527 | €19,722 | +€4,195 | +27.0% |
| Profit (loss) for the period | 9904 | €41,777 | €57,168 | +€15,391 | +36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €41,777 | €57,168 | +€15,391 | +36.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.