SMISCO: 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.
SMISCO
Largest movements
- Tangible fixed assets +€119,519
up €119,519 (+361.4%), from €33,069 to €152,588
of which Furniture and vehicles: +€112,630
- Cash -€25,793
down €25,793 (-64.6%), from €39,922 to €14,130
mainly Investment in fixed assets (net) (-€143,628) and Receivables within one year (-€14,617)
- Receivables within one year +€14,617
up €14,617 (+8.8%), from €165,307 to €179,923
of which Trade receivables: +€11,033
- Reserves +€50,000
up €50,000 (+1018.3%), from €4,910 to €54,910
of which Distributable reserves: +€50,000
- Debts after one year +€30,542
up €30,542 (+257.5%), from €11,862 to €42,404
- Current portion of long-term debt +€14,866
up €14,866 (+198.4%), from €7,491 to €22,357
- Tax, wage and social debts -€10,921
down €10,921 (-46.2%), from €23,612 to €12,692
- Trade debts +€8,991
up €8,991 (+25.8%), from €34,813 to €43,804
- Gross operating margin +€23,873
up €23,873 (+28.9%), from €82,709 to €106,581
- Depreciation +€14,127
up €14,127 (+141.5%), from €9,982 to €24,109
- Taxes +€3,818
up €3,818 (+17.5%), from €21,848 to €25,667
- Other operating charges -€1,111
down €1,111 (-50.0%), from €2,221 to €1,110
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 | €242,017 | €349,508 | +€107,491 | +44.4% |
| Fixed assets | 21/28 | €33,091 | €152,609 | +€119,519 | +361.2% |
| Tangible fixed assets | 22/27 | €33,069 | €152,588 | +€119,519 | +361.4% |
| Plant, machinery and equipment | 23 | €1,389 | €694 | -€695 | -50.1% |
| Furniture and vehicles | 24 | €31,113 | €143,743 | +€112,630 | +362.0% |
| Other tangible fixed assets | 26 | €567 | €8,151 | +€7,584 | +1336.9% |
| Financial fixed assets | 28 | €22 | €22 | = | 0.0% |
| Current assets | 29/58 | €208,926 | €196,899 | -€12,027 | -5.8% |
| Amounts receivable within one year | 40/41 | €165,307 | €179,923 | +€14,617 | +8.8% |
| Trade receivables | 40 | €10,799 | €21,832 | +€11,033 | +102.2% |
| Other amounts receivable | 41 | €154,508 | €158,092 | +€3,584 | +2.3% |
| Cash at bank and in hand | 54/58 | €39,922 | €14,130 | -€25,793 | -64.6% |
| Deferred charges and accrued income | 490/1 | €3,697 | €2,846 | -€851 | -23.0% |
| Total equity and liabilities | 10/49 | €242,017 | €349,508 | +€107,491 | +44.4% |
| Equity | 10/15 | €164,158 | €222,612 | +€58,454 | +35.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,910 | €54,910 | +€50,000 | +1018.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,050 | €3,050 | = | 0.0% |
| Distributable reserves | 133 | - | €50,000 | +€50,000 | |
| Profit (loss) carried forward | 14 | €140,648 | €149,102 | +€8,454 | +6.0% |
| Amounts payable | 17/49 | €77,859 | €126,897 | +€49,038 | +63.0% |
| Amounts payable after more than one year | 17 | €11,862 | €42,404 | +€30,542 | +257.5% |
| Financial debts | 170/4 | €11,862 | €42,404 | +€30,542 | +257.5% |
| Amounts payable within one year | 42/48 | €65,997 | €84,493 | +€18,496 | +28.0% |
| Current portion of amounts payable after more than one year | 42 | €7,491 | €22,357 | +€14,866 | +198.4% |
| Trade debts | 44 | €34,813 | €43,804 | +€8,991 | +25.8% |
| Suppliers | 440/4 | €34,813 | €43,804 | +€8,991 | +25.8% |
| Taxes, remuneration and social security | 45 | €23,612 | €12,692 | -€10,921 | -46.2% |
| Taxes | 450/3 | €23,612 | €12,692 | -€10,921 | -46.2% |
| Other amounts payable | 47/48 | €81 | €5,640 | +€5,559 | +6863.3% |
| Non-recurring operating income | 76A | - | €12,000 | +€12,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,982 | €24,109 | +€14,127 | +141.5% |
| Other operating charges | 640/8 | €2,221 | €1,110 | -€1,111 | -50.0% |
| Non-recurring operating charges | 66A | €2,343 | €1,189 | -€1,154 | -49.2% |
| Gross operating margin | 9900 | €82,709 | €106,581 | +€23,873 | +28.9% |
| Operating profit (loss) | 9901 | €68,163 | €80,173 | +€12,010 | +17.6% |
| Financial income | 75/76B | €6,154 | €6,207 | +€53 | +0.9% |
| Recurring financial income | 75 | €6,154 | €6,207 | +€53 | +0.9% |
| Financial charges | 65/66B | €2,113 | €2,260 | +€148 | +7.0% |
| Recurring financial charges | 65 | €2,113 | €2,260 | +€148 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | €72,204 | €84,120 | +€11,916 | +16.5% |
| Income taxes | 67/77 | €21,848 | €25,667 | +€3,818 | +17.5% |
| Profit (loss) for the period | 9904 | €50,356 | €58,454 | +€8,098 | +16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €50,356 | €58,454 | +€8,098 | +16.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.