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
- Tangible fixed assets +€15,108
up €15,108 (+11330.7%), from €133 to €15,242
of which Furniture and vehicles: +€15,242
- Cash -€9,849
down €9,849 (-74.6%), from €13,208 to €3,358
mainly Contributions, distributions and other (-€91,737) and Investment in fixed assets (net) (-€15,500)
- Receivables within one year -€231
no longer reported in 2025 (was €231)
- Profit (loss) carried forward +€5,028
no longer reported in 2025 (was -€5,028)
- Gross operating margin +€54,101
up €54,101 (+67.3%), from €80,369 to €134,471
- Taxes +€34,491
up €34,491 (+1578.2%), from €2,185 to €36,676
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 | €13,572 | €18,600 | +€5,028 | +37.0% |
| Fixed assets | 21/28 | €133 | €15,242 | +€15,108 | +11330.7% |
| Tangible fixed assets | 22/27 | €133 | €15,242 | +€15,108 | +11330.7% |
| Plant, machinery and equipment | 23 | €133 | - | -€133 | |
| Furniture and vehicles | 24 | - | €15,242 | +€15,242 | |
| Current assets | 29/58 | €13,438 | €3,358 | -€10,080 | -75.0% |
| Amounts receivable within one year | 40/41 | €231 | - | -€231 | |
| Other amounts receivable | 41 | €231 | - | -€231 | |
| Cash at bank and in hand | 54/58 | €13,208 | €3,358 | -€9,849 | -74.6% |
| Total equity and liabilities | 10/49 | €13,572 | €18,600 | +€5,028 | +37.0% |
| Equity | 10/15 | €13,572 | €18,600 | +€5,028 | +37.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,028 | - | +€5,028 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133 | €392 | +€258 | +193.8% |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Gross operating margin | 9900 | €80,369 | €134,471 | +€54,101 | +67.3% |
| Operating profit (loss) | 9901 | €79,708 | €133,535 | +€53,827 | +67.5% |
| Financial charges | 65/66B | €1,304 | €94 | -€1,210 | -92.8% |
| Recurring financial charges | 65 | €93 | €94 | +€1 | +1.2% |
| Non-recurring financial charges | 66B | €1,211 | - | -€1,211 | |
| Profit (loss) for the period before taxes | 9903 | €78,404 | €133,441 | +€55,037 | +70.2% |
| Income taxes | 67/77 | €2,185 | €36,676 | +€34,491 | +1578.2% |
| Profit (loss) for the period | 9904 | €76,219 | €96,765 | +€20,547 | +27.0% |
| Profit (loss) for the period to be appropriated | 9905 | €76,219 | €96,765 | +€20,547 | +27.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.