SMITH MD: 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.
SMITH MD
Largest movements
- Cash -€253,927
down €253,927 (-81.5%), from €311,696 to €57,769
mainly Contributions, distributions and other (-€341,776) and Deferred charges and accrued income (-€13,512)
- Tangible fixed assets -€21,516
down €21,516 (-20.2%), from €106,616 to €85,101
- Intangible fixed assets -€17,030
down €17,030 (-17.6%), from €96,802 to €79,772
- Receivables within one year -€16,743
down €16,743 (-54.5%), from €30,702 to €13,959
of which Other amounts receivable: -€16,743
- Deferred charges and accrued income +€13,512
up €13,512 (+1547.8%), from €873 to €14,385
- Profit (loss) carried forward -€307,074
down €307,074 (-57.1%), from €538,204 to €231,130
- Tax, wage and social debts +€9,844
up €9,844 (+184.0%), from €5,348 to €15,192
- Gross operating margin -€104,683
down €104,683 (-52.5%), from €199,424 to €94,741
- Taxes -€18,156
down €18,156 (-51.4%), from €35,348 to €17,192
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €546,690 | €250,986 | -€295,704 | -54.1% |
| Fixed assets | 21/28 | €203,419 | €164,873 | -€38,546 | -18.9% |
| Intangible fixed assets | 21 | €96,802 | €79,772 | -€17,030 | -17.6% |
| Tangible fixed assets | 22/27 | €106,616 | €85,101 | -€21,516 | -20.2% |
| Land and buildings | 22 | €71,319 | €62,466 | -€8,853 | -12.4% |
| Plant, machinery and equipment | 23 | €19,053 | €12,832 | -€6,221 | -32.7% |
| Furniture and vehicles | 24 | €16,245 | €9,804 | -€6,441 | -39.6% |
| Current assets | 29/58 | €343,271 | €86,113 | -€257,159 | -74.9% |
| Amounts receivable within one year | 40/41 | €30,702 | €13,959 | -€16,743 | -54.5% |
| Trade receivables | 40 | €402 | €402 | = | 0.0% |
| Other amounts receivable | 41 | €30,300 | €13,556 | -€16,743 | -55.3% |
| Cash at bank and in hand | 54/58 | €311,696 | €57,769 | -€253,927 | -81.5% |
| Deferred charges and accrued income | 490/1 | €873 | €14,385 | +€13,512 | +1547.8% |
| Total equity and liabilities | 10/49 | €546,690 | €250,986 | -€295,704 | -54.1% |
| Equity | 10/15 | €541,204 | €234,130 | -€307,074 | -56.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €538,204 | €231,130 | -€307,074 | -57.1% |
| Amounts payable | 17/49 | €5,486 | €16,856 | +€11,370 | +207.2% |
| Amounts payable within one year | 42/48 | €5,486 | €16,856 | +€11,370 | +207.2% |
| Trade debts | 44 | €138 | €1,664 | +€1,526 | +1107.5% |
| Suppliers | 440/4 | €138 | €1,664 | +€1,526 | +1107.5% |
| Taxes, remuneration and social security | 45 | €5,348 | €15,192 | +€9,844 | +184.0% |
| Taxes | 450/3 | €5,348 | €15,192 | +€9,844 | +184.0% |
| Non-recurring operating income | 76A | - | €3,074 | +€3,074 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,005 | €42,873 | -€1,131 | -2.6% |
| Other operating charges | 640/8 | €1,528 | €1,174 | -€354 | -23.2% |
| Gross operating margin | 9900 | €199,424 | €94,741 | -€104,683 | -52.5% |
| Operating profit (loss) | 9901 | €153,891 | €50,694 | -€103,197 | -67.1% |
| Financial income | 75/76B | €1,074 | €1,329 | +€255 | +23.8% |
| Recurring financial income | 75 | €1,074 | €1,329 | +€255 | +23.8% |
| Financial charges | 65/66B | €161 | €128 | -€32 | -20.1% |
| Recurring financial charges | 65 | €161 | €128 | -€32 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €154,804 | €51,894 | -€102,910 | -66.5% |
| Income taxes | 67/77 | €35,348 | €17,192 | -€18,156 | -51.4% |
| Profit (loss) for the period | 9904 | €119,456 | €34,703 | -€84,753 | -70.9% |
| Profit (loss) for the period to be appropriated | 9905 | €119,456 | €34,703 | -€84,753 | -70.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.