SMULDERS TRADUCTION: 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.
SMULDERS TRADUCTION
Largest movements
- Receivables within one year +€9,016
up €9,016 (+34.1%), from €26,423 to €35,439
of which Other amounts receivable: +€10,339
- Deferred charges and accrued income -€5,307
down €5,307 (-92.1%), from €5,760 to €453
- Tangible fixed assets -€2,935
down €2,935 (-22.6%), from €12,981 to €10,046
of which Furniture and vehicles: -€2,935
- Cash -€1,475
no longer reported in 2025 (was €1,475)
mainly Receivables within one year (-€9,016) and Debts after one year (-€2,377)
- Short-term financial debts +€3,174
new in 2025: €3,174
- Debts after one year -€2,377
down €2,377 (-23.7%), from €10,011 to €7,634
- Profit (loss) carried forward -€1,266
down €1,266 (-14.5%), from €8,702 to €7,437
- Gross operating margin -€12,197
down €12,197 (-82.0%), from €14,872 to €2,675
- Taxes -€1,965
down €1,965 (-90.6%), from €2,169 to €204
- Other operating charges -€1,795
down €1,795 (-80.3%), from €2,236 to €440
- Depreciation +€1,763
up €1,763 (+150%), from €1,172 to €2,935
- Financial income +€671
up €671 (+165%), from €406 to €1,077
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 | €46,933 | €46,483 | -€451 | -1.0% |
| Fixed assets | 21/28 | €13,276 | €10,591 | -€2,685 | -20.2% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €12,981 | €10,046 | -€2,935 | -22.6% |
| Furniture and vehicles | 24 | €12,981 | €10,046 | -€2,935 | -22.6% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €294 | €544 | +€250 | +85.0% |
| Current assets | 29/58 | €33,658 | €35,892 | +€2,234 | +6.6% |
| Amounts receivable within one year | 40/41 | €26,423 | €35,439 | +€9,016 | +34.1% |
| Trade receivables | 40 | €16,155 | €14,832 | -€1,323 | -8.2% |
| Other amounts receivable | 41 | €10,268 | €20,607 | +€10,339 | +101% |
| Cash at bank and in hand | 54/58 | €1,475 | - | -€1,475 | |
| Deferred charges and accrued income | 490/1 | €5,760 | €453 | -€5,307 | -92.1% |
| Total equity and liabilities | 10/49 | €46,933 | €46,483 | -€451 | -1.0% |
| Equity | 10/15 | €29,154 | €27,888 | -€1,266 | -4.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,702 | €7,437 | -€1,266 | -14.5% |
| Amounts payable | 17/49 | €17,780 | €18,595 | +€815 | +4.6% |
| Amounts payable after more than one year | 17 | €10,011 | €7,634 | -€2,377 | -23.7% |
| Financial debts | 170/4 | €10,011 | €7,634 | -€2,377 | -23.7% |
| Amounts payable within one year | 42/48 | €7,769 | €10,961 | +€3,192 | +41.1% |
| Current portion of amounts payable after more than one year | 42 | €2,228 | €2,377 | +€149 | +6.7% |
| Financial debts | 43 | - | €3,174 | +€3,174 | |
| Credit institutions | 430/8 | - | €3,174 | +€3,174 | |
| Trade debts | 44 | €2,501 | €2,222 | -€279 | -11.2% |
| Suppliers | 440/4 | €2,501 | €2,222 | -€279 | -11.2% |
| Taxes, remuneration and social security | 45 | €3,040 | €3,188 | +€148 | +4.9% |
| Taxes | 450/3 | €3,040 | €3,188 | +€148 | +4.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,172 | €2,935 | +€1,763 | +150% |
| Other operating charges | 640/8 | €2,236 | €440 | -€1,795 | -80.3% |
| Gross operating margin | 9900 | €14,872 | €2,675 | -€12,197 | -82.0% |
| Operating profit (loss) | 9901 | €11,464 | -€700 | -€12,165 | |
| Financial income | 75/76B | €406 | €1,077 | +€671 | +165% |
| Recurring financial income | 75 | €406 | €1,077 | +€671 | +165% |
| Financial charges | 65/66B | €1,072 | €1,439 | +€367 | +34.2% |
| Recurring financial charges | 65 | €1,072 | €1,439 | +€367 | +34.2% |
| Profit (loss) for the period before taxes | 9903 | €10,798 | -€1,062 | -€11,860 | |
| Income taxes | 67/77 | €2,169 | €204 | -€1,965 | -90.6% |
| Profit (loss) for the period | 9904 | €8,630 | -€1,266 | -€9,895 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,630 | -€1,266 | -€9,895 |
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 20 October 2026 via checked.be.