SMILING FACE: what changed
SMILING FACE
Largest movements
- Receivables within one year -€25,492
down €25,492 (-86.5%), from €29,475 to €3,983
of which Other amounts receivable: -€22,448
- Tangible fixed assets -€8,262
down €8,262 (-69.7%), from €11,854 to €3,592
of which Furniture and vehicles: -€7,920
- Cash +€7,305
up €7,305 (+510%), from €1,433 to €8,738
mainly Receivables within one year (+€25,492) and Depreciation (+€7,942)
- Stocks and contracts -€2,178
no longer reported in 2025 (was €2,178)
- Deferred charges and accrued income -€978
down €978 (-88.3%), from €1,107 to €129
- Profit (loss) carried forward -€18,764
down €18,764 (-228%), from -€8,238 to -€27,002
- Debts after one year -€5,023
down €5,023 (-29.1%), from €17,260 to €12,237
- Trade debts -€2,850
down €2,850 (-97.7%), from €2,917 to €67
- Tax, wage and social debts -€2,004
down €2,004 (-74.1%), from €2,705 to €701
of which Taxes: -€2,102
- Short-term financial debts -€1,239
down €1,239 (-98.9%), from €1,253 to €14
- Gross operating margin -€12,967
down €12,967, from €9,937 to -€3,030
- Taxes -€805
down €805 (-65.5%), from €1,230 to €425
- Financial income -€675
down €675 (-40.2%), from €1,678 to €1,003
- Financial charges -€471
down €471 (-19.9%), from €2,372 to €1,901
- Staff costs +€159
up €159 (+3.1%), from €5,204 to €5,363
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €46,410 | €16,805 | -€29,605 | -63.8% |
| Fixed assets | 21/28 | €12,217 | €3,955 | -€8,262 | -67.6% |
| Tangible fixed assets | 22/27 | €11,854 | €3,592 | -€8,262 | -69.7% |
| Plant, machinery and equipment | 23 | €38 | €17 | -€21 | -55.4% |
| Furniture and vehicles | 24 | €11,495 | €3,575 | -€7,920 | -68.9% |
| Other tangible fixed assets | 26 | €321 | - | -€321 | |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €34,193 | €12,850 | -€21,343 | -62.4% |
| Stocks and contracts in progress | 3 | €2,178 | - | -€2,178 | |
| Stocks | 30/36 | €2,178 | - | -€2,178 | |
| Amounts receivable within one year | 40/41 | €29,475 | €3,983 | -€25,492 | -86.5% |
| Trade receivables | 40 | €3,045 | - | -€3,045 | |
| Other amounts receivable | 41 | €26,431 | €3,983 | -€22,448 | -84.9% |
| Cash at bank and in hand | 54/58 | €1,433 | €8,738 | +€7,305 | +510% |
| Deferred charges and accrued income | 490/1 | €1,107 | €129 | -€978 | -88.3% |
| Total equity and liabilities | 10/49 | €46,410 | €16,805 | -€29,605 | -63.8% |
| Equity | 10/15 | €11,323 | -€7,441 | -€18,764 | |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Capital | 10 | - | €8,060 | +€8,060 | |
| Issued capital | 100 | - | €8,060 | +€8,060 | |
| Reserves | 13 | €11,501 | €11,501 | +€0 | 0.0% |
| Distributable reserves | 133 | €11,501 | €11,501 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€8,238 | -€27,002 | -€18,764 | -228% |
| Amounts payable | 17/49 | €35,088 | €24,246 | -€10,842 | -30.9% |
| Amounts payable after more than one year | 17 | €17,260 | €12,237 | -€5,023 | -29.1% |
| Financial debts | 170/4 | €17,260 | €12,237 | -€5,023 | -29.1% |
| Amounts payable within one year | 42/48 | €17,762 | €11,520 | -€6,242 | -35.1% |
| Current portion of amounts payable after more than one year | 42 | €5,172 | €5,023 | -€149 | -2.9% |
| Financial debts | 43 | €1,253 | €14 | -€1,239 | -98.9% |
| Credit institutions | 430/8 | €1,253 | €14 | -€1,239 | -98.9% |
| Trade debts | 44 | €2,917 | €67 | -€2,850 | -97.7% |
| Suppliers | 440/4 | €2,917 | €67 | -€2,850 | -97.7% |
| Taxes, remuneration and social security | 45 | €2,705 | €701 | -€2,004 | -74.1% |
| Taxes | 450/3 | €2,526 | €424 | -€2,102 | -83.2% |
| Remuneration and social security | 454/9 | €179 | €277 | +€98 | +54.7% |
| Other amounts payable | 47/48 | €5,715 | €5,715 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €66 | €489 | +€423 | +644% |
| Remuneration, social security and pensions | 62 | €5,204 | €5,363 | +€159 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,935 | €7,942 | +€7 | +0.1% |
| Other operating charges | 640/8 | €967 | €1,106 | +€139 | +14.4% |
| Gross operating margin | 9900 | €9,937 | -€3,030 | -€12,967 | |
| Operating profit (loss) | 9901 | -€4,169 | -€17,441 | -€13,272 | -318% |
| Financial income | 75/76B | €1,678 | €1,003 | -€675 | -40.2% |
| Recurring financial income | 75 | €1,678 | €1,003 | -€675 | -40.2% |
| Financial charges | 65/66B | €2,372 | €1,901 | -€471 | -19.9% |
| Recurring financial charges | 65 | €2,372 | €1,901 | -€471 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | -€4,864 | -€18,339 | -€13,475 | -277% |
| Income taxes | 67/77 | €1,230 | €425 | -€805 | -65.5% |
| Profit (loss) for the period | 9904 | -€6,094 | -€18,764 | -€12,670 | -208% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,094 | -€18,764 | -€12,670 | -208% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.