SMITS STUDIO: 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 STUDIO
Largest movements
- Stocks and contracts -€137,382
down €137,382 (-35.3%), from €389,200 to €251,818
- Cash -€39,416
down €39,416 (-33.2%), from €118,760 to €79,343
mainly Debts after one year (-€189,000) and Current portion of long-term debt (-€60,000)
- Deferred charges and accrued income +€19,743
up €19,743 (+169.4%), from €11,657 to €31,400
- Tangible fixed assets -€14,684
down €14,684 (-43.2%), from €34,014 to €19,330
of which Furniture and vehicles: -€13,231
- Debts after one year -€189,000
no longer reported in 2026 (was €189,000)
- Profit (loss) carried forward +€75,208
no longer reported in 2026 (was -€75,208)
- Current portion of long-term debt -€60,000
down €60,000 (-37.5%), from €160,000 to €100,000
- Other debts -€41,289
down €41,289 (-37.7%), from €109,533 to €68,244
- Tax, wage and social debts +€19,023
up €19,023 (+248.8%), from €7,647 to €26,670
of which Taxes: +€17,138
- Write-downs -€86,150
down €86,150 (-74.1%), from €116,271 to €30,121
- Gross operating margin -€25,067
down €25,067 (-10.8%), from €232,477 to €207,409
- Staff costs +€22,614
up €22,614 (+62.7%), from €36,057 to €58,671
- Taxes +€14,913
new in 2026: €14,913
- Financial charges -€3,817
down €3,817 (-32.5%), from €11,738 to €7,921
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €596,241 | €420,406 | -€175,835 | -29.5% |
| Fixed assets | 21/28 | €34,076 | €19,392 | -€14,684 | -43.1% |
| Tangible fixed assets | 22/27 | €34,014 | €19,330 | -€14,684 | -43.2% |
| Plant, machinery and equipment | 23 | €1,060 | €618 | -€442 | -41.7% |
| Furniture and vehicles | 24 | €26,097 | €12,865 | -€13,231 | -50.7% |
| Other tangible fixed assets | 26 | €6,858 | €5,847 | -€1,010 | -14.7% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €562,165 | €401,014 | -€161,151 | -28.7% |
| Stocks and contracts in progress | 3 | €389,200 | €251,818 | -€137,382 | -35.3% |
| Stocks | 30/36 | €389,200 | €251,818 | -€137,382 | -35.3% |
| Amounts receivable within one year | 40/41 | €42,548 | €38,452 | -€4,095 | -9.6% |
| Trade receivables | 40 | €41,115 | €35,051 | -€6,064 | -14.7% |
| Other amounts receivable | 41 | €1,433 | €3,401 | +€1,968 | +137.4% |
| Cash at bank and in hand | 54/58 | €118,760 | €79,343 | -€39,416 | -33.2% |
| Deferred charges and accrued income | 490/1 | €11,657 | €31,400 | +€19,743 | +169.4% |
| Total equity and liabilities | 10/49 | €596,241 | €420,406 | -€175,835 | -29.5% |
| Equity | 10/15 | €28,395 | €106,570 | +€78,175 | +275.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €3,603 | €6,570 | +€2,967 | +82.4% |
| Distributable reserves | 133 | €3,603 | €6,570 | +€2,967 | +82.4% |
| Profit (loss) carried forward | 14 | -€75,208 | - | +€75,208 | |
| Amounts payable | 17/49 | €567,846 | €313,836 | -€254,010 | -44.7% |
| Amounts payable after more than one year | 17 | €189,000 | - | -€189,000 | |
| Financial debts | 170/4 | €189,000 | - | -€189,000 | |
| Amounts payable within one year | 42/48 | €378,651 | €313,836 | -€64,815 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €160,000 | €100,000 | -€60,000 | -37.5% |
| Trade debts | 44 | €101,471 | €118,921 | +€17,450 | +17.2% |
| Suppliers | 440/4 | €101,471 | €118,921 | +€17,450 | +17.2% |
| Taxes, remuneration and social security | 45 | €7,647 | €26,670 | +€19,023 | +248.8% |
| Taxes | 450/3 | €2,734 | €19,872 | +€17,138 | +626.9% |
| Remuneration and social security | 454/9 | €4,913 | €6,798 | +€1,885 | +38.4% |
| Other amounts payable | 47/48 | €109,533 | €68,244 | -€41,289 | -37.7% |
| Accrued charges and deferred income | 492/3 | €195 | - | -€195 | |
| Remuneration, social security and pensions | 62 | €36,057 | €58,671 | +€22,614 | +62.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,182 | €14,684 | -€499 | -3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €116,271 | €30,121 | -€86,150 | -74.1% |
| Other operating charges | 640/8 | €1,188 | €2,975 | +€1,787 | +150.5% |
| Gross operating margin | 9900 | €232,477 | €207,409 | -€25,067 | -10.8% |
| Operating profit (loss) | 9901 | €63,778 | €100,958 | +€37,180 | +58.3% |
| Financial income | 75/76B | €878 | €51 | -€827 | -94.2% |
| Recurring financial income | 75 | €878 | €51 | -€827 | -94.2% |
| Financial charges | 65/66B | €11,738 | €7,921 | -€3,817 | -32.5% |
| Recurring financial charges | 65 | €11,738 | €7,921 | -€3,817 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €52,919 | €93,089 | +€40,170 | +75.9% |
| Income taxes | 67/77 | - | €14,913 | +€14,913 | |
| Profit (loss) for the period | 9904 | €52,919 | €78,175 | +€25,257 | +47.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,919 | €78,175 | +€25,257 | +47.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.