SMOLSMOKE: 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.
SMOLSMOKE
Largest movements
- Tangible fixed assets +€57,104
up €57,104 (+9.7%), from €589,060 to €646,164
of which Plant, machinery and equipment: +€67,782
- Cash +€33,361
up €33,361 (+189%), from €17,654 to €51,015
mainly Other debts (+€46,234) and Depreciation (+€46,115)
- Receivables within one year +€19,540
up €19,540 (+112%), from €17,478 to €37,018
of which Trade receivables: +€22,733
- Stocks and contracts +€11,570
up €11,570 (+230%), from €5,033 to €16,604
- Other debts +€46,234
up €46,234 (+24.1%), from €191,475 to €237,709
- Debts after one year +€33,084
up €33,084 (+8.3%), from €400,491 to €433,575
- Trade debts +€27,948
up €27,948 (+1,134%), from €2,465 to €30,413
- Current portion of long-term debt +€9,290
up €9,290 (+33.9%), from €27,437 to €36,727
- Gross operating margin +€76,042
up €76,042 (+260%), from €29,303 to €105,345
- Staff costs +€40,426
new in 2026: €40,426
- Depreciation +€11,093
up €11,093 (+31.7%), from €35,022 to €46,115
- Financial charges +€2,013
up €2,013 (+12.7%), from €15,839 to €17,852
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.
Derived cash bridge
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 | €629,226 | €750,801 | +€121,575 | +19.3% |
| Fixed assets | 21/28 | €589,060 | €646,164 | +€57,104 | +9.7% |
| Tangible fixed assets | 22/27 | €589,060 | €646,164 | +€57,104 | +9.7% |
| Land and buildings | 22 | €568,675 | €550,867 | -€17,808 | -3.1% |
| Plant, machinery and equipment | 23 | €14,496 | €82,277 | +€67,782 | +468% |
| Furniture and vehicles | 24 | €5,890 | €13,020 | +€7,130 | +121% |
| Current assets | 29/58 | €40,166 | €104,637 | +€64,471 | +161% |
| Stocks and contracts in progress | 3 | €5,033 | €16,604 | +€11,570 | +230% |
| Stocks | 30/36 | €5,033 | €16,604 | +€11,570 | +230% |
| Amounts receivable within one year | 40/41 | €17,478 | €37,018 | +€19,540 | +112% |
| Trade receivables | 40 | €14,020 | €36,753 | +€22,733 | +162% |
| Other amounts receivable | 41 | €3,458 | €265 | -€3,193 | -92.3% |
| Cash at bank and in hand | 54/58 | €17,654 | €51,015 | +€33,361 | +189% |
| Total equity and liabilities | 10/49 | €629,226 | €750,801 | +€121,575 | +19.3% |
| Equity | 10/15 | €7,357 | €6,127 | -€1,230 | -16.7% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €10,132 | €10,132 | = | 0.0% |
| Distributable reserves | 133 | €10,132 | €10,132 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€62,774 | -€64,004 | -€1,230 | -2.0% |
| Amounts payable | 17/49 | €621,868 | €744,673 | +€122,805 | +19.7% |
| Amounts payable after more than one year | 17 | €400,491 | €433,575 | +€33,084 | +8.3% |
| Financial debts | 170/4 | €400,491 | €433,575 | +€33,084 | +8.3% |
| Amounts payable within one year | 42/48 | €221,378 | €311,098 | +€89,720 | +40.5% |
| Current portion of amounts payable after more than one year | 42 | €27,437 | €36,727 | +€9,290 | +33.9% |
| Trade debts | 44 | €2,465 | €30,413 | +€27,948 | +1,134% |
| Suppliers | 440/4 | €2,465 | €30,413 | +€27,948 | +1,134% |
| Taxes, remuneration and social security | 45 | - | €6,248 | +€6,248 | |
| Taxes | 450/3 | - | €815 | +€815 | |
| Remuneration and social security | 454/9 | - | €5,433 | +€5,433 | |
| Other amounts payable | 47/48 | €191,475 | €237,709 | +€46,234 | +24.1% |
| Remuneration, social security and pensions | 62 | - | €40,426 | +€40,426 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,022 | €46,115 | +€11,093 | +31.7% |
| Other operating charges | 640/8 | €1,828 | €2,196 | +€368 | +20.2% |
| Non-recurring operating charges | 66A | €115 | - | -€115 | |
| Gross operating margin | 9900 | €29,303 | €105,345 | +€76,042 | +260% |
| Operating profit (loss) | 9901 | -€7,662 | €16,608 | +€24,270 | |
| Financial income | 75/76B | €1 | €13 | +€13 | +1,772% |
| Recurring financial income | 75 | €1 | €13 | +€13 | +1,772% |
| Financial charges | 65/66B | €15,839 | €17,852 | +€2,013 | +12.7% |
| Recurring financial charges | 65 | €15,839 | €17,852 | +€2,013 | +12.7% |
| Profit (loss) for the period before taxes | 9903 | -€23,500 | -€1,230 | +€22,270 | +94.8% |
| Profit (loss) for the period | 9904 | -€23,500 | -€1,230 | +€22,270 | +94.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,500 | -€1,230 | +€22,270 | +94.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.