Smith Consult: 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.
Smith Consult
Largest movements
- Cash -€74,972
down €74,972 (-66.0%), from €113,626 to €38,654
mainly Contributions, distributions and other (-€155,000) and Investment in fixed assets (net) (-€41,210)
- Tangible fixed assets +€23,549
up €23,549 (+59.2%), from €39,786 to €63,335
of which Furniture and vehicles: +€23,985
- Receivables within one year +€7,730
up €7,730 (+44.4%), from €17,418 to €25,148
of which Other amounts receivable: +€6,000
- Profit (loss) carried forward -€122,903
down €122,903 (-96.2%), from €127,822 to €4,919
- Other debts +€74,112
up €74,112 (+48,137%), from €154 to €74,266
- Trade debts +€11,430
up €11,430 (+1,744%), from €656 to €12,086
- Tax, wage and social debts +€7,791
up €7,791 (+44.6%), from €17,486 to €25,277
of which Taxes: +€11,391
- Debts after one year -€7,594
no longer reported in 2025 (was €7,594)
- Gross operating margin -€12,284
down €12,284 (-16.9%), from €72,493 to €60,209
- Taxes -€2,824
down €2,824 (-23.8%), from €11,877 to €9,053
- Depreciation +€1,913
up €1,913 (+12.1%), from €15,748 to €17,661
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.
Derived cash bridge
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 | €171,592 | €129,142 | -€42,450 | -24.7% |
| Fixed assets | 21/28 | €39,786 | €63,335 | +€23,549 | +59.2% |
| Tangible fixed assets | 22/27 | €39,786 | €63,335 | +€23,549 | +59.2% |
| Plant, machinery and equipment | 23 | €1,198 | €761 | -€436 | -36.4% |
| Furniture and vehicles | 24 | €38,588 | €62,573 | +€23,985 | +62.2% |
| Current assets | 29/58 | €131,806 | €65,807 | -€65,999 | -50.1% |
| Amounts receivable within one year | 40/41 | €17,418 | €25,148 | +€7,730 | +44.4% |
| Trade receivables | 40 | €17,418 | €19,148 | +€1,730 | +9.9% |
| Other amounts receivable | 41 | - | €6,000 | +€6,000 | |
| Cash at bank and in hand | 54/58 | €113,626 | €38,654 | -€74,972 | -66.0% |
| Deferred charges and accrued income | 490/1 | €762 | €2,005 | +€1,243 | +163% |
| Total equity and liabilities | 10/49 | €171,592 | €129,142 | -€42,450 | -24.7% |
| Equity | 10/15 | €132,822 | €9,919 | -€122,903 | -92.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €127,822 | €4,919 | -€122,903 | -96.2% |
| Amounts payable | 17/49 | €38,770 | €119,222 | +€80,453 | +208% |
| Amounts payable after more than one year | 17 | €7,594 | - | -€7,594 | |
| Financial debts | 170/4 | €7,594 | - | -€7,594 | |
| Amounts payable within one year | 42/48 | €31,176 | €119,222 | +€88,046 | +282% |
| Current portion of amounts payable after more than one year | 42 | €12,881 | €7,594 | -€5,287 | -41.0% |
| Trade debts | 44 | €656 | €12,086 | +€11,430 | +1,744% |
| Suppliers | 440/4 | €656 | €12,086 | +€11,430 | +1,744% |
| Taxes, remuneration and social security | 45 | €17,486 | €25,277 | +€7,791 | +44.6% |
| Taxes | 450/3 | €13,886 | €25,277 | +€11,391 | +82.0% |
| Remuneration and social security | 454/9 | €3,600 | - | -€3,600 | |
| Other amounts payable | 47/48 | €154 | €74,266 | +€74,112 | +48,137% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,748 | €17,661 | +€1,913 | +12.1% |
| Other operating charges | 640/8 | €396 | €985 | +€589 | +149% |
| Gross operating margin | 9900 | €72,493 | €60,209 | -€12,284 | -16.9% |
| Operating profit (loss) | 9901 | €56,349 | €41,563 | -€14,786 | -26.2% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €510 | €412 | -€98 | -19.2% |
| Recurring financial charges | 65 | €510 | €412 | -€98 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €55,839 | €41,151 | -€14,688 | -26.3% |
| Income taxes | 67/77 | €11,877 | €9,053 | -€2,824 | -23.8% |
| Profit (loss) for the period | 9904 | €43,962 | €32,097 | -€11,864 | -27.0% |
| Profit (loss) for the period to be appropriated | 9905 | €43,962 | €32,097 | -€11,864 | -27.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.