SMK Concept: 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.
SMK Concept
Largest movements
- Cash -€60,642
down €60,642 (-83.8%), from €72,382 to €11,740
mainly Trade debts (-€79,217) and Debts after one year (-€18,052)
- Deferred charges and accrued income +€17,912
up €17,912 (+282.1%), from €6,350 to €24,262
- Tangible fixed assets -€17,337
down €17,337 (-14.1%), from €123,026 to €105,689
of which Plant, machinery and equipment: -€16,568
- Intangible fixed assets -€11,500
down €11,500 (-10.4%), from €110,148 to €98,648
- Receivables within one year -€11,451
down €11,451 (-89.3%), from €12,817 to €1,366
of which Other amounts receivable: -€9,218
- Trade debts -€79,217
down €79,217 (-37.4%), from €211,722 to €132,505
- Debts after one year -€18,052
down €18,052 (-10.1%), from €179,503 to €161,451
- Other debts +€11,087
up €11,087 (+49.1%), from €22,600 to €33,688
- Profit (loss) carried forward +€7,420
up €7,420 (+8.3%), from -€88,986 to -€81,566
- Accrued charges and deferred income +€5,808
up €5,808 (+41.4%), from €14,045 to €19,854
- Gross operating margin +€161,872
up €161,872, from -€1,648 to €160,223
- Staff costs +€28,450
up €28,450 (+49.4%), from €57,581 to €86,032
- Financial charges +€17,842
up €17,842 (+115.5%), from €15,451 to €33,293
- Depreciation +€14,954
up €14,954 (+107.7%), from €13,884 to €28,837
- Other operating charges +€4,252
up €4,252 (+1008.0%), from €422 to €4,674
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 | €390,378 | €309,066 | -€81,312 | -20.8% |
| Fixed assets | 21/28 | €233,537 | €204,700 | -€28,837 | -12.3% |
| Intangible fixed assets | 21 | €110,148 | €98,648 | -€11,500 | -10.4% |
| Tangible fixed assets | 22/27 | €123,026 | €105,689 | -€17,337 | -14.1% |
| Plant, machinery and equipment | 23 | €121,108 | €104,540 | -€16,568 | -13.7% |
| Furniture and vehicles | 24 | €1,918 | €1,149 | -€769 | -40.1% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €156,841 | €104,366 | -€52,475 | -33.5% |
| Stocks and contracts in progress | 3 | €65,293 | €66,998 | +€1,705 | +2.6% |
| Stocks | 30/36 | €65,293 | €66,998 | +€1,705 | +2.6% |
| Amounts receivable within one year | 40/41 | €12,817 | €1,366 | -€11,451 | -89.3% |
| Trade receivables | 40 | €2,232 | - | -€2,232 | |
| Other amounts receivable | 41 | €10,584 | €1,366 | -€9,218 | -87.1% |
| Cash at bank and in hand | 54/58 | €72,382 | €11,740 | -€60,642 | -83.8% |
| Deferred charges and accrued income | 490/1 | €6,350 | €24,262 | +€17,912 | +282.1% |
| Total equity and liabilities | 10/49 | €390,378 | €309,066 | -€81,312 | -20.8% |
| Equity | 10/15 | -€83,986 | -€76,566 | +€7,420 | +8.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€88,986 | -€81,566 | +€7,420 | +8.3% |
| Amounts payable | 17/49 | €474,365 | €385,632 | -€88,733 | -18.7% |
| Amounts payable after more than one year | 17 | €179,503 | €161,451 | -€18,052 | -10.1% |
| Financial debts | 170/4 | €179,503 | €161,451 | -€18,052 | -10.1% |
| Amounts payable within one year | 42/48 | €280,816 | €204,328 | -€76,489 | -27.2% |
| Current portion of amounts payable after more than one year | 42 | €29,195 | €27,794 | -€1,401 | -4.8% |
| Financial debts | 43 | €7,990 | €2,918 | -€5,072 | -63.5% |
| Credit institutions | 430/8 | €7,990 | €2,918 | -€5,072 | -63.5% |
| Trade debts | 44 | €211,722 | €132,505 | -€79,217 | -37.4% |
| Suppliers | 440/4 | €211,722 | €132,505 | -€79,217 | -37.4% |
| Taxes, remuneration and social security | 45 | €9,309 | €7,423 | -€1,887 | -20.3% |
| Remuneration and social security | 454/9 | €9,309 | €7,423 | -€1,887 | -20.3% |
| Other amounts payable | 47/48 | €22,600 | €33,688 | +€11,087 | +49.1% |
| Accrued charges and deferred income | 492/3 | €14,045 | €19,854 | +€5,808 | +41.4% |
| Remuneration, social security and pensions | 62 | €57,581 | €86,032 | +€28,450 | +49.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,884 | €28,837 | +€14,954 | +107.7% |
| Other operating charges | 640/8 | €422 | €4,674 | +€4,252 | +1008.0% |
| Non-recurring operating charges | 66A | - | €70 | +€70 | |
| Gross operating margin | 9900 | -€1,648 | €160,223 | +€161,872 | |
| Operating profit (loss) | 9901 | -€73,535 | €40,611 | +€114,146 | |
| Financial income | 75/76B | - | €103 | +€103 | |
| Recurring financial income | 75 | - | €103 | +€103 | |
| Financial charges | 65/66B | €15,451 | €33,293 | +€17,842 | +115.5% |
| Recurring financial charges | 65 | €15,451 | €33,293 | +€17,842 | +115.5% |
| Profit (loss) for the period before taxes | 9903 | -€88,986 | €7,420 | +€96,406 | |
| Profit (loss) for the period | 9904 | -€88,986 | €7,420 | +€96,406 | |
| Profit (loss) for the period to be appropriated | 9905 | -€88,986 | €7,420 | +€96,406 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.