SMILEMED: 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.
SMILEMED
Largest movements
- Tangible fixed assets +€125,821
up €125,821 (+181%), from €69,398 to €195,219
of which Land and buildings: +€88,353
- Cash -€72,330
down €72,330 (-60.8%), from €118,942 to €46,611
mainly Investment in fixed assets (net) (-€166,108) and Contributions, distributions and other (-€110,000)
- Receivables within one year -€38,106
down €38,106 (-90.1%), from €42,281 to €4,175
of which Other amounts receivable: -€32,116
- Profit (loss) carried forward -€36,621
down €36,621 (-91.6%), from €40,000 to €3,379
- Debts after one year +€27,923
up €27,923 (+101%), from €27,600 to €55,524
- Current portion of long-term debt +€12,709
up €12,709 (+107%), from €11,826 to €24,535
- Tax, wage and social debts +€4,976
up €4,976 (+31.6%), from €15,737 to €20,713
of which Taxes: +€3,476
- Other debts +€4,712
up €4,712 (+8.6%), from €54,788 to €59,500
- Gross operating margin +€23,059
up €23,059 (+21.0%), from €109,730 to €132,789
- Depreciation +€12,474
up €12,474 (+44.9%), from €27,813 to €40,287
- Taxes -€1,456
down €1,456 (-8.5%), from €17,069 to €15,613
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 | €232,544 | €246,930 | +€14,386 | +6.2% |
| Fixed assets | 21/28 | €69,398 | €195,219 | +€125,821 | +181% |
| Tangible fixed assets | 22/27 | €69,398 | €195,219 | +€125,821 | +181% |
| Land and buildings | 22 | €1,719 | €90,072 | +€88,353 | +5,139% |
| Plant, machinery and equipment | 23 | €28,346 | €87,360 | +€59,015 | +208% |
| Furniture and vehicles | 24 | €39,333 | €17,786 | -€21,547 | -54.8% |
| Current assets | 29/58 | €163,146 | €51,711 | -€111,435 | -68.3% |
| Amounts receivable within one year | 40/41 | €42,281 | €4,175 | -€38,106 | -90.1% |
| Trade receivables | 40 | €5,990 | €0 | -€5,990 | -100% |
| Other amounts receivable | 41 | €36,291 | €4,175 | -€32,116 | -88.5% |
| Cash at bank and in hand | 54/58 | €118,942 | €46,611 | -€72,330 | -60.8% |
| Deferred charges and accrued income | 490/1 | €1,923 | €925 | -€998 | -51.9% |
| Total equity and liabilities | 10/49 | €232,544 | €246,930 | +€14,386 | +6.2% |
| Equity | 10/15 | €122,180 | €85,559 | -€36,621 | -30.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €80,180 | €80,180 | = | 0.0% |
| Distributable reserves | 133 | €80,180 | €80,180 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,000 | €3,379 | -€36,621 | -91.6% |
| Amounts payable | 17/49 | €110,365 | €161,371 | +€51,007 | +46.2% |
| Amounts payable after more than one year | 17 | €27,600 | €55,524 | +€27,923 | +101% |
| Financial debts | 170/4 | €27,600 | €55,524 | +€27,923 | +101% |
| Amounts payable within one year | 42/48 | €82,764 | €104,748 | +€21,984 | +26.6% |
| Current portion of amounts payable after more than one year | 42 | €11,826 | €24,535 | +€12,709 | +107% |
| Trade debts | 44 | €414 | €0 | -€414 | -100% |
| Suppliers | 440/4 | €414 | €0 | -€414 | -100% |
| Taxes, remuneration and social security | 45 | €15,737 | €20,713 | +€4,976 | +31.6% |
| Taxes | 450/3 | €15,737 | €19,213 | +€3,476 | +22.1% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €54,788 | €59,500 | +€4,712 | +8.6% |
| Accrued charges and deferred income | 492/3 | €0 | €1,100 | +€1,100 | |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,813 | €40,287 | +€12,474 | +44.9% |
| Other operating charges | 640/8 | €937 | €1,445 | +€508 | +54.2% |
| Gross operating margin | 9900 | €109,730 | €132,789 | +€23,059 | +21.0% |
| Operating profit (loss) | 9901 | €80,980 | €91,056 | +€10,076 | +12.4% |
| Financial income | 75/76B | €2,158 | €1,097 | -€1,061 | -49.2% |
| Recurring financial income | 75 | €2,158 | €1,097 | -€1,061 | -49.2% |
| Financial charges | 65/66B | €2,236 | €3,161 | +€925 | +41.4% |
| Recurring financial charges | 65 | €2,236 | €3,161 | +€925 | +41.4% |
| Profit (loss) for the period before taxes | 9903 | €80,902 | €88,992 | +€8,090 | +10.0% |
| Income taxes | 67/77 | €17,069 | €15,613 | -€1,456 | -8.5% |
| Profit (loss) for the period | 9904 | €63,833 | €73,379 | +€9,546 | +15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €63,833 | €73,379 | +€9,546 | +15.0% |
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 16 October 2026 via checked.be.