SMITS MARGO: 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.
SMITS MARGO
Largest movements
- Receivables within one year -€9,053
down €9,053 (-78.5%), from €11,528 to €2,475
of which Trade receivables: -€9,255
- Cash -€4,791
down €4,791 (-77.9%), from €6,153 to €1,362
mainly Net result for the year (-€29,020) and Short-term financial debts (-€7,099)
- Tangible fixed assets -€2,120
down €2,120 (-26.2%), from €8,077 to €5,958
of which Land and buildings: -€1,989
- Deferred charges and accrued income -€2,088
down €2,088 (-70.6%), from €2,960 to €872
- Profit (loss) carried forward -€29,020
down €29,020 (-11.6%), from -€249,912 to -€278,931
- Other debts +€15,552
up €15,552 (+11.2%), from €138,295 to €153,847
- Short-term financial debts -€7,099
down €7,099 (-100%), from €7,099 to €0
- Trade debts +€3,494
up €3,494 (+40.9%), from €8,547 to €12,041
- Tax, wage and social debts -€982
down €982 (-13.8%), from €7,100 to €6,118
of which Remuneration and social security: -€2,425
- Gross operating margin -€25,748
down €25,748 (-63.1%), from €40,792 to €15,044
- Staff costs +€11,651
up €11,651 (+41.3%), from €28,203 to €39,854
- Other operating charges -€8,524
down €8,524 (-81.2%), from €10,492 to €1,968
- Depreciation -€692
down €692 (-24.6%), from €2,812 to €2,120
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 | €37,129 | €19,075 | -€18,054 | -48.6% |
| Fixed assets | 21/28 | €16,422 | €14,302 | -€2,120 | -12.9% |
| Tangible fixed assets | 22/27 | €8,077 | €5,958 | -€2,120 | -26.2% |
| Land and buildings | 22 | €7,947 | €5,958 | -€1,989 | -25.0% |
| Plant, machinery and equipment | 23 | €130 | €0 | -€130 | -100% |
| Financial fixed assets | 28 | €8,344 | €8,344 | = | 0.0% |
| Current assets | 29/58 | €20,708 | €4,773 | -€15,934 | -76.9% |
| Stocks and contracts in progress | 3 | €67 | €64 | -€2 | -3.7% |
| Stocks | 30/36 | €67 | €64 | -€2 | -3.7% |
| Amounts receivable within one year | 40/41 | €11,528 | €2,475 | -€9,053 | -78.5% |
| Trade receivables | 40 | €10,395 | €1,140 | -€9,255 | -89.0% |
| Other amounts receivable | 41 | €1,133 | €1,335 | +€202 | +17.8% |
| Cash at bank and in hand | 54/58 | €6,153 | €1,362 | -€4,791 | -77.9% |
| Deferred charges and accrued income | 490/1 | €2,960 | €872 | -€2,088 | -70.6% |
| Total equity and liabilities | 10/49 | €37,129 | €19,075 | -€18,054 | -48.6% |
| Equity | 10/15 | -€193,912 | -€222,931 | -€29,020 | -15.0% |
| Contributions | 10/11 | €56,000 | €56,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€249,912 | -€278,931 | -€29,020 | -11.6% |
| Amounts payable | 17/49 | €231,041 | €242,006 | +€10,965 | +4.7% |
| Amounts payable after more than one year | 17 | €70,000 | €70,000 | = | 0.0% |
| Financial debts | 170/4 | €70,000 | €70,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €161,041 | €172,006 | +€10,965 | +6.8% |
| Financial debts | 43 | €7,099 | €0 | -€7,099 | -100% |
| Credit institutions | 430/8 | €7,099 | €0 | -€7,099 | -100% |
| Trade debts | 44 | €8,547 | €12,041 | +€3,494 | +40.9% |
| Suppliers | 440/4 | €8,547 | €12,041 | +€3,494 | +40.9% |
| Taxes, remuneration and social security | 45 | €7,100 | €6,118 | -€982 | -13.8% |
| Taxes | 450/3 | €2,951 | €4,394 | +€1,443 | +48.9% |
| Remuneration and social security | 454/9 | €4,149 | €1,724 | -€2,425 | -58.4% |
| Other amounts payable | 47/48 | €138,295 | €153,847 | +€15,552 | +11.2% |
| Remuneration, social security and pensions | 62 | €28,203 | €39,854 | +€11,651 | +41.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,812 | €2,120 | -€692 | -24.6% |
| Other operating charges | 640/8 | €10,492 | €1,968 | -€8,524 | -81.2% |
| Gross operating margin | 9900 | €40,792 | €15,044 | -€25,748 | -63.1% |
| Operating profit (loss) | 9901 | -€715 | -€28,898 | -€28,183 | -3,939% |
| Financial income | 75/76B | €30 | €22 | -€8 | -26.6% |
| Recurring financial income | 75 | €30 | €22 | -€8 | -26.6% |
| Financial charges | 65/66B | €198 | €143 | -€55 | -27.8% |
| Recurring financial charges | 65 | €198 | €143 | -€55 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | -€884 | -€29,020 | -€28,136 | -3,183% |
| Income taxes | 67/77 | €140 | €0 | -€140 | -100% |
| Profit (loss) for the period | 9904 | -€1,023 | -€29,020 | -€27,996 | -2,735% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,023 | -€29,020 | -€27,996 | -2,735% |
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.