SMITH AGENCY: 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.
What changed
SMITH AGENCY
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€13,128
2024 · -€9,997-€3,132
Equity
€77,905
2024 · €91,033-€13,128
Cash
€184,320
2024 · €180,483+€3,837
Balance sheet total
€331,894
2024 · €346,309-€14,416
Largest movements
Assets
- Tangible fixed assets -€18,748
down €18,748 (-12.4%), from €151,799 to €133,050
of which Leasing and similar rights: -€9,600
- Cash +€3,837
up €3,837 (+2.1%), from €180,483 to €184,320
mainly Depreciation (+€19,433) and Current portion of long-term debt (+€1,445)
Equity and liabilities
- Profit (loss) carried forward -€13,128
down €13,128 (-18.0%), from €72,973 to €59,845
Income statement
- Gross operating margin -€3,982
down €3,982 (-13.9%), from €28,556 to €24,574
- Depreciation -€750
down €750 (-3.7%), from €20,184 to €19,433
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.
Result 2024
-€9,997
Gross operating margin
-€3,982
Depreciation
+€750
Other operating charges
-€87
Financial income
+€176
Financial charges
+€13
Taxes
-€1
Result 2025
-€13,128
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.
From operations
+€4,522
Investment
-€685
Financing
€0
Cash 2024
€180,483
From operations (derived)
+€4,522
Net result for the year
-€13,128
Depreciation
+€19,433
Receivables within one year
+€3
Deferred charges and accrued income
-€499
Provisions
-€2,108
Trade debts
-€445
Tax, wage and social debts
-€129
Accrued charges and deferred income
+€1,395
Investment (derived)
-€685
Investment in fixed assets (net)
-€685
Financing
€0
Debts after one year
-€1,445
Current portion of long-term debt
+€1,445
Cash 2025
€184,320
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €346,309 | €331,894 | -€14,416 | -4.2% |
| Fixed assets | 21/28 | €151,799 | €133,050 | -€18,748 | -12.4% |
| Tangible fixed assets | 22/27 | €151,799 | €133,050 | -€18,748 | -12.4% |
| Land and buildings | 22 | €5,007 | €4,789 | -€218 | -4.3% |
| Plant, machinery and equipment | 23 | €39,288 | €31,075 | -€8,214 | -20.9% |
| Furniture and vehicles | 24 | €2,535 | €1,818 | -€717 | -28.3% |
| Leasing and similar rights | 25 | €104,969 | €95,369 | -€9,600 | -9.1% |
| Current assets | 29/58 | €194,511 | €198,844 | +€4,333 | +2.2% |
| Amounts receivable within one year | 40/41 | €12,641 | €12,638 | -€3 | 0.0% |
| Trade receivables | 40 | €9,771 | €9,771 | = | 0.0% |
| Other amounts receivable | 41 | €2,870 | €2,867 | -€3 | -0.1% |
| Cash at bank and in hand | 54/58 | €180,483 | €184,320 | +€3,837 | +2.1% |
| Deferred charges and accrued income | 490/1 | €1,387 | €1,886 | +€499 | +36.0% |
| Total equity and liabilities | 10/49 | €346,309 | €331,894 | -€14,416 | -4.2% |
| Equity | 10/15 | €91,033 | €77,905 | -€13,128 | -14.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €11,860 | €11,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,973 | €59,845 | -€13,128 | -18.0% |
| Provisions and deferred taxes | 16 | €227,857 | €225,749 | -€2,108 | -0.9% |
| Provisions for liabilities and charges | 160/5 | €227,857 | €225,749 | -€2,108 | -0.9% |
| Other liabilities and charges | 164/5 | €227,857 | €225,749 | -€2,108 | -0.9% |
| Amounts payable | 17/49 | €27,420 | €28,240 | +€821 | +3.0% |
| Amounts payable after more than one year | 17 | €20,533 | €19,088 | -€1,445 | -7.0% |
| Financial debts | 170/4 | €20,533 | €19,088 | -€1,445 | -7.0% |
| Amounts payable within one year | 42/48 | €6,886 | €7,757 | +€871 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €1,376 | €2,822 | +€1,445 | +105.0% |
| Trade debts | 44 | €2,930 | €2,484 | -€445 | -15.2% |
| Suppliers | 440/4 | €2,930 | €2,484 | -€445 | -15.2% |
| Taxes, remuneration and social security | 45 | €2,580 | €2,451 | -€129 | -5.0% |
| Taxes | 450/3 | €2,232 | €2,451 | +€219 | +9.8% |
| Remuneration and social security | 454/9 | €348 | - | -€348 | |
| Accrued charges and deferred income | 492/3 | - | €1,395 | +€1,395 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,184 | €19,433 | -€750 | -3.7% |
| Other operating charges | 640/8 | €1,352 | €1,439 | +€87 | +6.5% |
| Gross operating margin | 9900 | €28,556 | €24,574 | -€3,982 | -13.9% |
| Operating profit (loss) | 9901 | €7,020 | €3,701 | -€3,319 | -47.3% |
| Financial income | 75/76B | €1,932 | €2,108 | +€176 | +9.1% |
| Recurring financial income | 75 | €0 | €2,108 | +€2,108 | +21081500.0% |
| Non-recurring financial income | 76B | €1,932 | €2,108 | +€176 | +9.1% |
| Financial charges | 65/66B | €18,820 | €18,807 | -€13 | -0.1% |
| Recurring financial charges | 65 | €18,820 | €18,807 | -€13 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | -€9,867 | -€12,997 | -€3,130 | -31.7% |
| Income taxes | 67/77 | €130 | €131 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€9,997 | -€13,128 | -€3,132 | -31.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,997 | -€13,128 | -€3,132 | -31.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.