SML GROUP: 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.
SML GROUP
Largest movements
- Tangible fixed assets -€41,051
down €41,051 (-45.8%), from €89,695 to €48,644
of which Furniture and vehicles: -€40,930
- Receivables within one year +€25,721
up €25,721 (+72.4%), from €35,533 to €61,254
of which Trade receivables: +€27,335
- Cash -€6,099
down €6,099 (-33.1%), from €18,423 to €12,324
mainly Debts after one year (-€39,432) and Receivables within one year (-€25,721)
- Debts after one year -€39,432
down €39,432 (-72.9%), from €54,124 to €14,692
- Profit (loss) carried forward +€13,944
up €13,944 (+139%), from €10,043 to €23,988
- Current portion of long-term debt -€8,021
down €8,021 (-24.8%), from €32,394 to €24,373
- Tax, wage and social debts +€6,016
up €6,016 (+108%), from €5,583 to €11,599
of which Remuneration and social security: +€5,062
- Trade debts +€4,185
up €4,185 (+815%), from €514 to €4,699
- Gross operating margin +€27,599
up €27,599 (+244%), from €11,332 to €38,931
- Depreciation -€1,544
down €1,544 (-7.8%), from €19,798 to €18,254
- Financial charges +€1,034
up €1,034 (+24.4%), from €4,232 to €5,267
- Taxes +€954
new in 2025: €954
- Financial income -€659
down €659 (-77.4%), from €851 to €192
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 | €144,110 | €122,221 | -€21,889 | -15.2% |
| Fixed assets | 21/28 | €89,695 | €48,644 | -€41,051 | -45.8% |
| Tangible fixed assets | 22/27 | €89,695 | €48,644 | -€41,051 | -45.8% |
| Land and buildings | 22 | €792 | €671 | -€121 | -15.3% |
| Furniture and vehicles | 24 | €88,903 | €47,972 | -€40,930 | -46.0% |
| Current assets | 29/58 | €54,415 | €73,578 | +€19,162 | +35.2% |
| Amounts receivable within one year | 40/41 | €35,533 | €61,254 | +€25,721 | +72.4% |
| Trade receivables | 40 | €30,046 | €57,381 | +€27,335 | +91.0% |
| Other amounts receivable | 41 | €5,487 | €3,872 | -€1,614 | -29.4% |
| Cash at bank and in hand | 54/58 | €18,423 | €12,324 | -€6,099 | -33.1% |
| Deferred charges and accrued income | 490/1 | €460 | - | -€460 | |
| Total equity and liabilities | 10/49 | €144,110 | €122,221 | -€21,889 | -15.2% |
| Equity | 10/15 | €51,281 | €65,225 | +€13,944 | +27.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €38,237 | €38,237 | = | 0.0% |
| Distributable reserves | 133 | €38,237 | €38,237 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,043 | €23,988 | +€13,944 | +139% |
| Amounts payable | 17/49 | €92,830 | €56,996 | -€35,834 | -38.6% |
| Amounts payable after more than one year | 17 | €54,124 | €14,692 | -€39,432 | -72.9% |
| Financial debts | 170/4 | €54,124 | €14,692 | -€39,432 | -72.9% |
| Amounts payable within one year | 42/48 | €38,706 | €42,304 | +€3,598 | +9.3% |
| Current portion of amounts payable after more than one year | 42 | €32,394 | €24,373 | -€8,021 | -24.8% |
| Trade debts | 44 | €514 | €4,699 | +€4,185 | +815% |
| Suppliers | 440/4 | €514 | €4,699 | +€4,185 | +815% |
| Taxes, remuneration and social security | 45 | €5,583 | €11,599 | +€6,016 | +108% |
| Taxes | 450/3 | €5,583 | €6,537 | +€954 | +17.1% |
| Remuneration and social security | 454/9 | - | €5,062 | +€5,062 | |
| Other amounts payable | 47/48 | €215 | €1,633 | +€1,418 | +660% |
| Non-recurring operating income | 76A | €285 | €4,600 | +€4,315 | +1,515% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,798 | €18,254 | -€1,544 | -7.8% |
| Other operating charges | 640/8 | €63 | €704 | +€641 | +1,017% |
| Gross operating margin | 9900 | €11,332 | €38,931 | +€27,599 | +244% |
| Operating profit (loss) | 9901 | -€8,529 | €19,973 | +€28,503 | |
| Financial income | 75/76B | €851 | €192 | -€659 | -77.4% |
| Recurring financial income | 75 | €851 | €192 | -€659 | -77.4% |
| Financial charges | 65/66B | €4,232 | €5,267 | +€1,034 | +24.4% |
| Recurring financial charges | 65 | €4,232 | €5,267 | +€1,034 | +24.4% |
| Profit (loss) for the period before taxes | 9903 | -€11,911 | €14,899 | +€26,810 | |
| Income taxes | 67/77 | - | €954 | +€954 | |
| Profit (loss) for the period | 9904 | -€11,911 | €13,944 | +€25,855 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,911 | €13,944 | +€25,855 |
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.