SMS: 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.
SMS
Largest movements
- Cash -€14,275
down €14,275 (-29.2%), from €48,957 to €34,682
mainly Receivables within one year (-€9,667) and Trade debts (-€8,771)
- Receivables within one year +€9,667
up €9,667 (+172.2%), from €5,613 to €15,280
of which Trade receivables: +€11,027
- Tangible fixed assets -€998
down €998 (-22.3%), from €4,471 to €3,473
of which Furniture and vehicles: -€1,054
- Trade debts -€8,771
down €8,771 (-47.2%), from €18,570 to €9,799
- Tax, wage and social debts +€2,204
up €2,204 (+321.8%), from €685 to €2,889
- Gross operating margin -€27,917
down €27,917 (-81.3%), from €34,341 to €6,424
- Financial charges -€17,024
down €17,024 (-98.9%), from €17,213 to €189
of which Non-recurring financial charges: -€16,990
- Taxes -€792
down €792 (-21.5%), from €3,685 to €2,893
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 | €81,862 | €76,367 | -€5,495 | -6.7% |
| Fixed assets | 21/28 | €4,471 | €3,473 | -€998 | -22.3% |
| Tangible fixed assets | 22/27 | €4,471 | €3,473 | -€998 | -22.3% |
| Plant, machinery and equipment | 23 | €2,714 | €2,770 | +€56 | +2.1% |
| Furniture and vehicles | 24 | €1,757 | €703 | -€1,054 | -60.0% |
| Current assets | 29/58 | €77,391 | €72,894 | -€4,497 | -5.8% |
| Stocks and contracts in progress | 3 | €22,821 | €22,932 | +€111 | +0.5% |
| Stocks | 30/36 | €22,821 | €22,932 | +€111 | +0.5% |
| Amounts receivable within one year | 40/41 | €5,613 | €15,280 | +€9,667 | +172.2% |
| Trade receivables | 40 | €1,760 | €12,787 | +€11,027 | +626.5% |
| Other amounts receivable | 41 | €3,853 | €2,493 | -€1,360 | -35.3% |
| Cash at bank and in hand | 54/58 | €48,957 | €34,682 | -€14,275 | -29.2% |
| Total equity and liabilities | 10/49 | €81,862 | €76,367 | -€5,495 | -6.7% |
| Equity | 10/15 | -€4,992 | -€4,725 | +€267 | +5.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,922 | €2,922 | = | 0.0% |
| Distributable reserves | 133 | €2,922 | €2,922 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,914 | -€27,647 | +€267 | +1.0% |
| Amounts payable | 17/49 | €86,854 | €81,092 | -€5,762 | -6.6% |
| Amounts payable within one year | 42/48 | €86,854 | €81,092 | -€5,762 | -6.6% |
| Trade debts | 44 | €18,570 | €9,799 | -€8,771 | -47.2% |
| Suppliers | 440/4 | €18,570 | €9,799 | -€8,771 | -47.2% |
| Taxes, remuneration and social security | 45 | €685 | €2,889 | +€2,204 | +321.8% |
| Taxes | 450/3 | €685 | €2,889 | +€2,204 | +321.8% |
| Other amounts payable | 47/48 | €67,599 | €68,404 | +€805 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,284 | €2,957 | -€327 | -10.0% |
| Other operating charges | 640/8 | €409 | €451 | +€42 | +10.3% |
| Gross operating margin | 9900 | €34,341 | €6,424 | -€27,917 | -81.3% |
| Operating profit (loss) | 9901 | €30,648 | €3,016 | -€27,632 | -90.2% |
| Financial income | 75/76B | €365 | €333 | -€32 | -8.8% |
| Recurring financial income | 75 | €365 | €333 | -€32 | -8.8% |
| Financial charges | 65/66B | €17,213 | €189 | -€17,024 | -98.9% |
| Recurring financial charges | 65 | €223 | €189 | -€34 | -15.2% |
| Non-recurring financial charges | 66B | €16,990 | - | -€16,990 | |
| Profit (loss) for the period before taxes | 9903 | €13,800 | €3,160 | -€10,640 | -77.1% |
| Income taxes | 67/77 | €3,685 | €2,893 | -€792 | -21.5% |
| Profit (loss) for the period | 9904 | €10,115 | €267 | -€9,848 | -97.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,115 | €267 | -€9,848 | -97.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.