SMITH-MORRA: 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-MORRA
Largest movements
- Tangible fixed assets +€96,718
up €96,718 (+3564.4%), from €2,713 to €99,431
of which Furniture and vehicles: +€96,998
- Cash +€67,997
up €67,997 (+68.5%), from €99,210 to €167,207
mainly Other debts (+€175,287) and Net result for the year (+€102,681)
- Receivables within one year -€23,049
down €23,049 (-37.5%), from €61,470 to €38,421
of which Trade receivables: -€23,730
- Other debts +€175,287
up €175,287 (+2906.3%), from €6,031 to €181,318
- Profit (loss) carried forward -€106,462
no longer reported in 2025 (was €106,462)
- Tax, wage and social debts +€34,931
up €34,931 (+80.7%), from €43,260 to €78,191
of which Taxes: +€43,630
- Debts after one year +€33,009
new in 2025: €33,009
- Current portion of long-term debt +€9,559
new in 2025: €9,559
- Gross operating margin +€127,611
up €127,611 (+169.4%), from €75,319 to €202,930
- Staff costs +€33,962
up €33,962 (+156.9%), from €21,643 to €55,605
- Depreciation +€17,300
up €17,300 (+1572.7%), from €1,100 to €18,400
- Taxes +€13,614
up €13,614 (+130.2%), from €10,456 to €24,071
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 | €163,393 | €305,059 | +€141,666 | +86.7% |
| Fixed assets | 21/28 | €2,713 | €99,431 | +€96,718 | +3564.4% |
| Tangible fixed assets | 22/27 | €2,713 | €99,431 | +€96,718 | +3564.4% |
| Plant, machinery and equipment | 23 | €366 | €85 | -€280 | -76.7% |
| Furniture and vehicles | 24 | €2,348 | €99,346 | +€96,998 | +4131.8% |
| Current assets | 29/58 | €160,680 | €205,628 | +€44,948 | +28.0% |
| Amounts receivable within one year | 40/41 | €61,470 | €38,421 | -€23,049 | -37.5% |
| Trade receivables | 40 | €61,470 | €37,740 | -€23,730 | -38.6% |
| Other amounts receivable | 41 | - | €681 | +€681 | |
| Cash at bank and in hand | 54/58 | €99,210 | €167,207 | +€67,997 | +68.5% |
| Total equity and liabilities | 10/49 | €163,393 | €305,059 | +€141,666 | +86.7% |
| Equity | 10/15 | €107,462 | €1,000 | -€106,462 | -99.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €106,462 | - | -€106,462 | |
| Amounts payable | 17/49 | €55,931 | €304,059 | +€248,128 | +443.6% |
| Amounts payable after more than one year | 17 | - | €33,009 | +€33,009 | |
| Financial debts | 170/4 | - | €33,009 | +€33,009 | |
| Amounts payable within one year | 42/48 | €55,931 | €271,050 | +€215,119 | +384.6% |
| Current portion of amounts payable after more than one year | 42 | - | €9,559 | +€9,559 | |
| Trade debts | 44 | €6,639 | €1,982 | -€4,657 | -70.1% |
| Suppliers | 440/4 | €6,639 | €1,982 | -€4,657 | -70.1% |
| Taxes, remuneration and social security | 45 | €43,260 | €78,191 | +€34,931 | +80.7% |
| Taxes | 450/3 | €28,455 | €72,085 | +€43,630 | +153.3% |
| Remuneration and social security | 454/9 | €14,805 | €6,106 | -€8,699 | -58.8% |
| Other amounts payable | 47/48 | €6,031 | €181,318 | +€175,287 | +2906.3% |
| Remuneration, social security and pensions | 62 | €21,643 | €55,605 | +€33,962 | +156.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,100 | €18,400 | +€17,300 | +1572.7% |
| Other operating charges | 640/8 | - | €487 | +€487 | |
| Gross operating margin | 9900 | €75,319 | €202,930 | +€127,611 | +169.4% |
| Operating profit (loss) | 9901 | €52,575 | €128,438 | +€75,863 | +144.3% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €126 | €1,686 | +€1,560 | +1236.2% |
| Recurring financial charges | 65 | €126 | €1,686 | +€1,560 | +1236.2% |
| Profit (loss) for the period before taxes | 9903 | €52,449 | €126,752 | +€74,303 | +141.7% |
| Income taxes | 67/77 | €10,456 | €24,071 | +€13,614 | +130.2% |
| Profit (loss) for the period | 9904 | €41,993 | €102,681 | +€60,688 | +144.5% |
| Profit (loss) for the period to be appropriated | 9905 | €41,993 | €102,681 | +€60,688 | +144.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.