Smoking Cue: 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.
Smoking Cue
Largest movements
- Cash +€249,451
up €249,451 (+82.4%), from €302,781 to €552,231
mainly Net result for the year (+€321,619) and Depreciation (+€150,245)
- Receivables within one year +€32,557
up €32,557 (+111%), from €29,213 to €61,770
of which Trade receivables: +€40,647
- Tangible fixed assets -€24,995
down €24,995 (-2.0%), from €1.2m to €1.2m
of which Land and buildings: -€58,984
- Reserves +€321,619
up €321,619 (+41.0%), from €785,381 to €1.1m
of which Distributable reserves: +€321,619
- Debts after one year -€58,826
down €58,826 (-10.7%), from €551,727 to €492,901
- Trade debts +€34,404
up €34,404 (+1,623%), from €2,120 to €36,524
- Other debts -€25,293
down €25,293 (-66.1%), from €38,290 to €12,997
- Accrued charges and deferred income -€22,406
down €22,406 (-55.5%), from €40,361 to €17,955
- Gross operating margin +€33,363
up €33,363 (+5.0%), from €670,064 to €703,427
- Depreciation +€21,469
up €21,469 (+16.7%), from €128,776 to €150,245
- Taxes +€9,760
up €9,760 (+7.3%), from €133,202 to €142,962
- Other operating charges -€7,912
down €7,912 (-24.7%), from €31,976 to €24,064
- Staff costs -€7,718
down €7,718 (-13.8%), from €55,740 to €48,022
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 | €1,584,999 | €1,847,119 | +€262,120 | +16.5% |
| Fixed assets | 21/28 | €1,234,409 | €1,216,367 | -€18,042 | -1.5% |
| Intangible fixed assets | 21 | - | €6,953 | +€6,953 | |
| Tangible fixed assets | 22/27 | €1,234,409 | €1,209,414 | -€24,995 | -2.0% |
| Land and buildings | 22 | €1,117,491 | €1,058,507 | -€58,984 | -5.3% |
| Plant, machinery and equipment | 23 | €102,463 | €87,803 | -€14,660 | -14.3% |
| Furniture and vehicles | 24 | €14,455 | €63,104 | +€48,649 | +337% |
| Current assets | 29/58 | €350,590 | €630,752 | +€280,162 | +79.9% |
| Stocks and contracts in progress | 3 | €15,784 | €13,951 | -€1,833 | -11.6% |
| Stocks | 30/36 | €15,784 | €13,951 | -€1,833 | -11.6% |
| Amounts receivable within one year | 40/41 | €29,213 | €61,770 | +€32,557 | +111% |
| Trade receivables | 40 | €1,923 | €42,570 | +€40,647 | +2,114% |
| Other amounts receivable | 41 | €27,290 | €19,200 | -€8,090 | -29.6% |
| Cash at bank and in hand | 54/58 | €302,781 | €552,231 | +€249,451 | +82.4% |
| Deferred charges and accrued income | 490/1 | €2,812 | €2,800 | -€12 | -0.4% |
| Total equity and liabilities | 10/49 | €1,584,999 | €1,847,119 | +€262,120 | +16.5% |
| Equity | 10/15 | €803,981 | €1,125,600 | +€321,619 | +40.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €785,381 | €1,107,000 | +€321,619 | +41.0% |
| Tax-exempt reserves | 132 | €113 | €113 | = | 0.0% |
| Distributable reserves | 133 | €785,268 | €1,106,887 | +€321,619 | +41.0% |
| Amounts payable | 17/49 | €781,018 | €721,519 | -€59,499 | -7.6% |
| Amounts payable after more than one year | 17 | €551,727 | €492,901 | -€58,826 | -10.7% |
| Financial debts | 170/4 | €551,727 | €492,901 | -€58,826 | -10.7% |
| Amounts payable within one year | 42/48 | €188,930 | €210,662 | +€21,732 | +11.5% |
| Current portion of amounts payable after more than one year | 42 | €57,428 | €58,826 | +€1,398 | +2.4% |
| Trade debts | 44 | €2,120 | €36,524 | +€34,404 | +1,623% |
| Suppliers | 440/4 | €2,120 | €36,524 | +€34,404 | +1,623% |
| Advances received on contracts in progress | 46 | €2,734 | €20,790 | +€18,056 | +660% |
| Taxes, remuneration and social security | 45 | €88,359 | €81,526 | -€6,833 | -7.7% |
| Taxes | 450/3 | €78,968 | €72,202 | -€6,766 | -8.6% |
| Remuneration and social security | 454/9 | €9,391 | €9,324 | -€67 | -0.7% |
| Other amounts payable | 47/48 | €38,290 | €12,997 | -€25,293 | -66.1% |
| Accrued charges and deferred income | 492/3 | €40,361 | €17,955 | -€22,406 | -55.5% |
| Remuneration, social security and pensions | 62 | €55,740 | €48,022 | -€7,718 | -13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,776 | €150,245 | +€21,469 | +16.7% |
| Other operating charges | 640/8 | €31,976 | €24,064 | -€7,912 | -24.7% |
| Gross operating margin | 9900 | €670,064 | €703,427 | +€33,363 | +5.0% |
| Operating profit (loss) | 9901 | €453,572 | €481,095 | +€27,524 | +6.1% |
| Financial income | 75/76B | €304 | €165 | -€140 | -45.9% |
| Recurring financial income | 75 | €304 | €165 | -€140 | -45.9% |
| Financial charges | 65/66B | €21,353 | €16,679 | -€4,674 | -21.9% |
| Recurring financial charges | 65 | €21,353 | €16,679 | -€4,674 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €432,523 | €464,581 | +€32,058 | +7.4% |
| Income taxes | 67/77 | €133,202 | €142,962 | +€9,760 | +7.3% |
| Profit (loss) for the period | 9904 | €299,321 | €321,619 | +€22,298 | +7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €299,321 | €321,619 | +€22,298 | +7.4% |
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 22 October 2026 via checked.be.