SMITS: 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.
SMITS
Largest movements
- Cash +€147,124
up €147,124 (+1519.5%), from €9,682 to €156,806
mainly Accrued charges and deferred income (+€283,609) and Other debts (+€201,311)
- Receivables within one year +€85,878
up €85,878 (+1557.7%), from €5,513 to €91,391
of which Other amounts receivable: +€85,837
- Tangible fixed assets -€75,131
down €75,131 (-14.5%), from €518,693 to €443,562
- Accrued charges and deferred income +€283,609
up €283,609 (+1890.7%), from €15,000 to €298,609
- Debts after one year -€215,656
down €215,656 (-78.0%), from €276,458 to €60,802
- Other debts +€201,311
up €201,311 (+1638.4%), from €12,287 to €213,598
- Trade debts -€46,569
down €46,569 (-97.9%), from €47,574 to €1,005
- Current portion of long-term debt -€30,893
down €30,893 (-40.7%), from €75,880 to €44,987
- Other operating charges +€48,996
up €48,996 (+1153.9%), from €4,246 to €53,242
- Depreciation -€17,849
down €17,849 (-65.3%), from €27,329 to €9,481
- Financial charges -€6,476
down €6,476 (-32.1%), from €20,191 to €13,714
- Gross operating margin -€6,149
down €6,149 (-11.9%), from €51,653 to €45,504
- Taxes -€4,489
no longer reported in 2025 (was €4,489)
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 | €535,235 | €691,763 | +€156,528 | +29.2% |
| Fixed assets | 21/28 | €518,859 | €443,562 | -€75,297 | -14.5% |
| Tangible fixed assets | 22/27 | €518,693 | €443,562 | -€75,131 | -14.5% |
| Land and buildings | 22 | €518,693 | €443,562 | -€75,131 | -14.5% |
| Financial fixed assets | 28 | €166 | - | -€166 | |
| Current assets | 29/58 | €16,376 | €248,201 | +€231,825 | +1415.7% |
| Amounts receivable within one year | 40/41 | €5,513 | €91,391 | +€85,878 | +1557.7% |
| Trade receivables | 40 | €5,513 | €5,555 | +€41 | +0.7% |
| Other amounts receivable | 41 | - | €85,837 | +€85,837 | |
| Cash at bank and in hand | 54/58 | €9,682 | €156,806 | +€147,124 | +1519.5% |
| Deferred charges and accrued income | 490/1 | €1,180 | €3 | -€1,177 | -99.7% |
| Total equity and liabilities | 10/49 | €535,235 | €691,763 | +€156,528 | +29.2% |
| Equity | 10/15 | €75,987 | €49,971 | -€26,016 | -34.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €86,359 | €72,057 | -€14,302 | -16.6% |
| Non-distributable reserves | 130/1 | €833 | €833 | = | 0.0% |
| Legal reserve | 130 | €833 | €833 | = | 0.0% |
| Tax-exempt reserves | 132 | €82,676 | €68,375 | -€14,302 | -17.3% |
| Distributable reserves | 133 | €2,850 | €2,850 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,372 | -€84,086 | -€11,714 | -16.2% |
| Provisions and deferred taxes | 16 | €27,559 | €22,792 | -€4,767 | -17.3% |
| Deferred taxes | 168 | €27,559 | €22,792 | -€4,767 | -17.3% |
| Amounts payable | 17/49 | €431,690 | €619,001 | +€187,311 | +43.4% |
| Amounts payable after more than one year | 17 | €276,458 | €60,802 | -€215,656 | -78.0% |
| Financial debts | 170/4 | €276,458 | €60,802 | -€215,656 | -78.0% |
| Amounts payable within one year | 42/48 | €140,231 | €259,590 | +€119,359 | +85.1% |
| Current portion of amounts payable after more than one year | 42 | €75,880 | €44,987 | -€30,893 | -40.7% |
| Trade debts | 44 | €47,574 | €1,005 | -€46,569 | -97.9% |
| Suppliers | 440/4 | €47,574 | €1,005 | -€46,569 | -97.9% |
| Taxes, remuneration and social security | 45 | €4,489 | - | -€4,489 | |
| Taxes | 450/3 | €4,489 | - | -€4,489 | |
| Other amounts payable | 47/48 | €12,287 | €213,598 | +€201,311 | +1638.4% |
| Accrued charges and deferred income | 492/3 | €15,000 | €298,609 | +€283,609 | +1890.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,329 | €9,481 | -€17,849 | -65.3% |
| Other operating charges | 640/8 | €4,246 | €53,242 | +€48,996 | +1153.9% |
| Gross operating margin | 9900 | €51,653 | €45,504 | -€6,149 | -11.9% |
| Operating profit (loss) | 9901 | €20,078 | -€17,219 | -€37,296 | |
| Financial income | 75/76B | - | €150 | +€150 | |
| Recurring financial income | 75 | - | €150 | +€150 | |
| Financial charges | 65/66B | €20,191 | €13,714 | -€6,476 | -32.1% |
| Recurring financial charges | 65 | €20,191 | €13,714 | -€6,476 | -32.1% |
| Profit (loss) for the period before taxes | 9903 | -€113 | -€30,783 | -€30,670 | -27153.8% |
| Transfer from deferred taxes | 780 | €4,767 | €4,767 | = | 0.0% |
| Income taxes | 67/77 | €4,489 | - | -€4,489 | |
| Profit (loss) for the period | 9904 | €165 | -€26,016 | -€26,181 | |
| Transfer from tax-exempt reserves | 789 | €14,302 | €14,302 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,467 | -€11,714 | -€26,181 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.