Smiles: 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.
Smiles
Largest movements
- Receivables within one year -€252,762
down €252,762 (-6.6%), from €3.8m to €3.6m
of which Trade receivables: -€686,982
- Deferred charges and accrued income +€43,897
up €43,897, from €0 to €43,897
- Tax, wage and social debts -€130,081
no longer reported in 2026 (was €130,081)
- Other debts -€118,073
down €118,073 (-6.6%), from €1.8m to €1.7m
- Profit (loss) carried forward +€82,857
up €82,857 (+19.8%), from €418,003 to €500,860
- Gross operating margin -€745,086
down €745,086 (-92.5%), from €805,576 to €60,490
- Purchases and services +€244,569
up €244,569 (+9.9%), from €2.5m to €2.7m
- Taxes -€142,441
down €142,441 (-90.0%), from €158,203 to €15,762
- Turnover -€124,580
down €124,580 (-5.2%), from €2.4m to €2.3m
- Financial income -€34,960
down €34,960 (-35.8%), from €97,659 to €62,699
From the 2025 result to the 2026 result
The net result is not in both sets of accounts; without it the difference cannot be explained line by line.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,069,196 | €3,854,302 | -€214,894 | -5.3% |
| Fixed assets | 21/28 | €40,116 | €17,193 | -€22,923 | -57.1% |
| Intangible fixed assets | 21 | €40,116 | €17,193 | -€22,923 | -57.1% |
| Current assets | 29/58 | €4,029,080 | €3,837,110 | -€191,970 | -4.8% |
| Stocks and contracts in progress | 3 | €194,920 | €211,815 | +€16,895 | +8.7% |
| Stocks | 30/36 | €194,920 | €211,815 | +€16,895 | +8.7% |
| Amounts receivable within one year | 40/41 | €3,834,160 | €3,581,398 | -€252,762 | -6.6% |
| Trade receivables | 40 | €1,207,204 | €520,222 | -€686,982 | -56.9% |
| Other amounts receivable | 41 | €2,626,955 | €3,061,176 | +€434,221 | +16.5% |
| Deferred charges and accrued income | 490/1 | €0 | €43,897 | +€43,897 | |
| Total equity and liabilities | 10/49 | €4,069,196 | €3,854,302 | -€214,894 | -5.3% |
| Equity | 10/15 | €1,668,003 | €1,750,860 | +€82,857 | +5.0% |
| Contributions | 10/11 | €1,250,000 | €1,250,000 | = | 0.0% |
| Capital | 10 | €1,250,000 | €1,250,000 | = | 0.0% |
| Issued capital | 100 | €1,250,000 | €1,250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €418,003 | €500,860 | +€82,857 | +19.8% |
| Amounts payable | 17/49 | €2,401,193 | €2,103,442 | -€297,751 | -12.4% |
| Amounts payable within one year | 42/48 | €2,376,922 | €2,090,307 | -€286,615 | -12.1% |
| Trade debts | 44 | €468,168 | €429,708 | -€38,460 | -8.2% |
| Suppliers | 440/4 | €468,168 | €429,708 | -€38,460 | -8.2% |
| Taxes, remuneration and social security | 45 | €130,081 | - | -€130,081 | |
| Taxes | 450/3 | €130,081 | - | -€130,081 | |
| Other amounts payable | 47/48 | €1,778,672 | €1,660,599 | -€118,073 | -6.6% |
| Accrued charges and deferred income | 492/3 | €24,271 | €13,136 | -€11,135 | -45.9% |
| Turnover | 70 | €2,381,446 | €2,256,866 | -€124,580 | -5.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,465,491 | €2,710,060 | +€244,569 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,924 | €22,924 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,283 | - | -€2,283 | |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Non-recurring operating charges | 66A | €45,071 | - | -€45,071 | |
| Gross operating margin | 9900 | €805,576 | €60,490 | -€745,086 | -92.5% |
| Operating profit (loss) | 9901 | €735,180 | €37,447 | -€697,733 | -94.9% |
| Financial income | 75/76B | €97,659 | €62,699 | -€34,960 | -35.8% |
| Recurring financial income | 75 | €97,659 | €62,699 | -€34,960 | -35.8% |
| Financial charges | 65/66B | €1,373 | €1,527 | +€154 | +11.2% |
| Recurring financial charges | 65 | €1,373 | €1,527 | +€154 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | €831,466 | €98,619 | -€732,847 | -88.1% |
| Income taxes | 67/77 | €158,203 | €15,762 | -€142,441 | -90.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.