Smithii: 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.
Smithii
Largest movements
- Receivables within one year +€47,625
up €47,625 (+48.1%), from €98,955 to €146,580
of which Other amounts receivable: +€37,563
- Tangible fixed assets -€17,155
down €17,155 (-14.4%), from €119,148 to €101,993
of which Furniture and vehicles: -€12,257
- Reserves +€42,727
up €42,727 (+101.8%), from €41,990 to €84,717
- Other debts +€29,595
up €29,595 (+7302.3%), from €405 to €30,000
- Debts after one year -€21,141
down €21,141 (-21.5%), from €98,230 to €77,090
- Tax, wage and social debts -€13,963
down €13,963 (-90.6%), from €15,407 to €1,444
of which Remuneration and social security: -€11,084
- Current portion of long-term debt -€2,845
down €2,845 (-11.9%), from €23,986 to €21,141
- Gross operating margin +€53,293
up €53,293 (+63.4%), from €84,104 to €137,397
- Staff costs -€33,105
down €33,105 (-62.3%), from €53,143 to €20,038
- Taxes +€10,616
up €10,616 (+761.5%), from €1,394 to €12,011
- Depreciation +€8,411
up €8,411 (+48.0%), from €17,513 to €25,924
- Financial charges +€2,282
up €2,282 (+53.4%), from €4,276 to €6,558
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 | €241,623 | €275,894 | +€34,271 | +14.2% |
| Fixed assets | 21/28 | €134,659 | €120,038 | -€14,620 | -10.9% |
| Intangible fixed assets | 21 | €8,610 | €11,071 | +€2,461 | +28.6% |
| Tangible fixed assets | 22/27 | €119,148 | €101,993 | -€17,155 | -14.4% |
| Furniture and vehicles | 24 | €50,584 | €38,328 | -€12,257 | -24.2% |
| Other tangible fixed assets | 26 | €68,564 | €63,666 | -€4,898 | -7.1% |
| Financial fixed assets | 28 | €6,900 | €6,974 | +€74 | +1.1% |
| Current assets | 29/58 | €106,964 | €155,855 | +€48,891 | +45.7% |
| Amounts receivable within one year | 40/41 | €98,955 | €146,580 | +€47,625 | +48.1% |
| Trade receivables | 40 | €84,052 | €94,114 | +€10,062 | +12.0% |
| Other amounts receivable | 41 | €14,903 | €52,466 | +€37,563 | +252.0% |
| Cash at bank and in hand | 54/58 | €3,597 | €5,989 | +€2,392 | +66.5% |
| Deferred charges and accrued income | 490/1 | €4,412 | €3,286 | -€1,125 | -25.5% |
| Total equity and liabilities | 10/49 | €241,623 | €275,894 | +€34,271 | +14.2% |
| Equity | 10/15 | €44,990 | €87,717 | +€42,727 | +95.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €41,990 | €84,717 | +€42,727 | +101.8% |
| Distributable reserves | 133 | €41,990 | €84,717 | +€42,727 | +101.8% |
| Amounts payable | 17/49 | €196,633 | €188,177 | -€8,456 | -4.3% |
| Amounts payable after more than one year | 17 | €98,230 | €77,090 | -€21,141 | -21.5% |
| Financial debts | 170/4 | €98,230 | €77,090 | -€21,141 | -21.5% |
| Amounts payable within one year | 42/48 | €96,102 | €109,299 | +€13,196 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €23,986 | €21,141 | -€2,845 | -11.9% |
| Trade debts | 44 | €56,304 | €56,714 | +€410 | +0.7% |
| Suppliers | 440/4 | €56,304 | €56,714 | +€410 | +0.7% |
| Taxes, remuneration and social security | 45 | €15,407 | €1,444 | -€13,963 | -90.6% |
| Taxes | 450/3 | €4,323 | €1,444 | -€2,878 | -66.6% |
| Remuneration and social security | 454/9 | €11,084 | - | -€11,084 | |
| Other amounts payable | 47/48 | €405 | €30,000 | +€29,595 | +7302.3% |
| Accrued charges and deferred income | 492/3 | €2,300 | €1,789 | -€512 | -22.2% |
| Remuneration, social security and pensions | 62 | €53,143 | €20,038 | -€33,105 | -62.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,513 | €25,924 | +€8,411 | +48.0% |
| Other operating charges | 640/8 | €505 | €583 | +€78 | +15.4% |
| Gross operating margin | 9900 | €84,104 | €137,397 | +€53,293 | +63.4% |
| Operating profit (loss) | 9901 | €12,943 | €90,852 | +€77,909 | +601.9% |
| Financial income | 75/76B | €388 | €444 | +€56 | +14.5% |
| Recurring financial income | 75 | €388 | €444 | +€56 | +14.5% |
| Financial charges | 65/66B | €4,276 | €6,558 | +€2,282 | +53.4% |
| Recurring financial charges | 65 | €4,276 | €6,558 | +€2,282 | +53.4% |
| Profit (loss) for the period before taxes | 9903 | €9,054 | €84,738 | +€75,683 | +835.9% |
| Income taxes | 67/77 | €1,394 | €12,011 | +€10,616 | +761.5% |
| Profit (loss) for the period | 9904 | €7,660 | €72,727 | +€65,067 | +849.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,660 | €72,727 | +€65,067 | +849.4% |
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 10 October 2026 via checked.be.