SMISDOM: 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.
SMISDOM
Largest movements
- Cash -€87,128
down €87,128 (-31.2%), from €279,507 to €192,378
mainly Contributions, distributions and other (-€70,567) and Investment in fixed assets (net) (-€69,338)
- Receivables within one year -€59,365
down €59,365 (-52.0%), from €114,147 to €54,782
of which Trade receivables: -€60,687
- Stocks and contracts +€38,658
up €38,658 (+80.5%), from €47,998 to €86,656
- Tangible fixed assets -€23,693
down €23,693 (-5.1%), from €462,950 to €439,257
of which Furniture and vehicles: -€35,109
- Deferred charges and accrued income +€17,836
up €17,836 (+183.2%), from €9,734 to €27,570
- Reserves -€41,488
down €41,488 (-8.7%), from €478,235 to €436,746
of which Distributable reserves: -€41,488
- Debts after one year -€40,384
down €40,384 (-43.8%), from €92,118 to €51,734
- Other debts +€35,633
up €35,633 (+118.2%), from €30,150 to €65,783
- Tax, wage and social debts -€29,520
down €29,520 (-55.8%), from €52,925 to €23,404
of which Taxes: -€30,782
- Trade debts -€27,985
down €27,985 (-18.4%), from €151,902 to €123,917
- Gross operating margin -€89,798
down €89,798 (-22.4%), from €400,402 to €310,604
- Taxes -€30,428
down €30,428 (-70.9%), from €42,939 to €12,511
- Depreciation +€17,003
up €17,003 (+26.1%), from €65,207 to €82,210
- Write-downs +€10,006
up €10,006, from €0 to €10,006
- Other operating charges -€5,795
down €5,795 (-23.1%), from €25,085 to €19,290
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 | €920,130 | €817,258 | -€102,872 | -11.2% |
| Fixed assets | 21/28 | €468,744 | €455,871 | -€12,873 | -2.7% |
| Intangible fixed assets | 21 | €5,719 | €16,539 | +€10,820 | +189.2% |
| Tangible fixed assets | 22/27 | €462,950 | €439,257 | -€23,693 | -5.1% |
| Land and buildings | 22 | €74,640 | €79,633 | +€4,992 | +6.7% |
| Plant, machinery and equipment | 23 | €256,886 | €263,309 | +€6,424 | +2.5% |
| Furniture and vehicles | 24 | €131,424 | €96,315 | -€35,109 | -26.7% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €451,386 | €361,386 | -€90,000 | -19.9% |
| Stocks and contracts in progress | 3 | €47,998 | €86,656 | +€38,658 | +80.5% |
| Stocks | 30/36 | €47,998 | €86,656 | +€38,658 | +80.5% |
| Amounts receivable within one year | 40/41 | €114,147 | €54,782 | -€59,365 | -52.0% |
| Trade receivables | 40 | €114,147 | €53,460 | -€60,687 | -53.2% |
| Other amounts receivable | 41 | €0 | €1,322 | +€1,322 | |
| Cash at bank and in hand | 54/58 | €279,507 | €192,378 | -€87,128 | -31.2% |
| Deferred charges and accrued income | 490/1 | €9,734 | €27,570 | +€17,836 | +183.2% |
| Total equity and liabilities | 10/49 | €920,130 | €817,258 | -€102,872 | -11.2% |
| Equity | 10/15 | €540,235 | €498,746 | -€41,488 | -7.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €478,235 | €436,746 | -€41,488 | -8.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,828 | €33,828 | = | 0.0% |
| Distributable reserves | 133 | €438,206 | €396,718 | -€41,488 | -9.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €379,895 | €318,511 | -€61,384 | -16.2% |
| Amounts payable after more than one year | 17 | €92,118 | €51,734 | -€40,384 | -43.8% |
| Financial debts | 170/4 | €92,118 | €51,734 | -€40,384 | -43.8% |
| Amounts payable within one year | 42/48 | €280,855 | €264,367 | -€16,488 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €45,879 | €51,263 | +€5,384 | +11.7% |
| Trade debts | 44 | €151,902 | €123,917 | -€27,985 | -18.4% |
| Suppliers | 440/4 | €151,902 | €123,917 | -€27,985 | -18.4% |
| Taxes, remuneration and social security | 45 | €52,925 | €23,404 | -€29,520 | -55.8% |
| Taxes | 450/3 | €39,016 | €8,234 | -€30,782 | -78.9% |
| Remuneration and social security | 454/9 | €13,908 | €15,171 | +€1,262 | +9.1% |
| Other amounts payable | 47/48 | €30,150 | €65,783 | +€35,633 | +118.2% |
| Accrued charges and deferred income | 492/3 | €6,921 | €2,409 | -€4,512 | -65.2% |
| Remuneration, social security and pensions | 62 | €152,200 | €153,714 | +€1,513 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,207 | €82,210 | +€17,003 | +26.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €10,006 | +€10,006 | |
| Other operating charges | 640/8 | €25,085 | €19,290 | -€5,795 | -23.1% |
| Gross operating margin | 9900 | €400,402 | €310,604 | -€89,798 | -22.4% |
| Operating profit (loss) | 9901 | €157,909 | €45,384 | -€112,525 | -71.3% |
| Financial income | 75/76B | €149 | €5,236 | +€5,086 | +3404.1% |
| Recurring financial income | 75 | €149 | €5,236 | +€5,086 | +3404.1% |
| Financial charges | 65/66B | €8,332 | €9,031 | +€699 | +8.4% |
| Recurring financial charges | 65 | €8,332 | €9,031 | +€699 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €149,727 | €41,589 | -€108,138 | -72.2% |
| Income taxes | 67/77 | €42,939 | €12,511 | -€30,428 | -70.9% |
| Profit (loss) for the period | 9904 | €106,788 | €29,078 | -€77,710 | -72.8% |
| Profit (loss) for the period to be appropriated | 9905 | €106,788 | €29,078 | -€77,710 | -72.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.