SMYLE PROJECT: 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.
SMYLE PROJECT
Largest movements
- Cash -€42,466
down €42,466 (-29.4%), from €144,475 to €102,010
mainly Contributions, distributions and other (-€100,000) and Tax, wage and social debts (-€12,056)
- Tangible fixed assets -€11,169
down €11,169 (-35.6%), from €31,364 to €20,195
of which Furniture and vehicles: -€11,093
- Deferred charges and accrued income +€3,511
up €3,511 (+45.6%), from €7,696 to €11,207
- Profit (loss) carried forward -€86,782
down €86,782 (-62.8%), from €138,208 to €51,427
- Other debts +€37,187
up €37,187 (+169.2%), from €21,980 to €59,167
- Tax, wage and social debts -€12,056
down €12,056 (-68.0%), from €17,729 to €5,673
- Current portion of long-term debt +€7,233
new in 2025: €7,233
- Debts after one year +€4,316
new in 2025: €4,316
- Depreciation +€9,216
up €9,216 (+471.8%), from €1,953 to €11,169
- Gross operating margin +€4,155
up €4,155 (+15.5%), from €26,881 to €31,035
- Other operating charges +€458
new in 2025: €458
- Financial charges +€407
up €407 (+196.0%), from €208 to €614
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 | €183,735 | €133,611 | -€50,124 | -27.3% |
| Fixed assets | 21/28 | €31,564 | €20,395 | -€11,169 | -35.4% |
| Tangible fixed assets | 22/27 | €31,364 | €20,195 | -€11,169 | -35.6% |
| Plant, machinery and equipment | 23 | €77 | - | -€77 | |
| Furniture and vehicles | 24 | €31,287 | €20,195 | -€11,093 | -35.5% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €152,171 | €113,216 | -€38,955 | -25.6% |
| Cash at bank and in hand | 54/58 | €144,475 | €102,010 | -€42,466 | -29.4% |
| Deferred charges and accrued income | 490/1 | €7,696 | €11,207 | +€3,511 | +45.6% |
| Total equity and liabilities | 10/49 | €183,735 | €133,611 | -€50,124 | -27.3% |
| Equity | 10/15 | €143,208 | €56,427 | -€86,782 | -60.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €138,208 | €51,427 | -€86,782 | -62.8% |
| Amounts payable | 17/49 | €40,526 | €77,184 | +€36,658 | +90.5% |
| Amounts payable after more than one year | 17 | - | €4,316 | +€4,316 | |
| Financial debts | 170/4 | - | €4,316 | +€4,316 | |
| Amounts payable within one year | 42/48 | €40,352 | €72,733 | +€32,381 | +80.2% |
| Current portion of amounts payable after more than one year | 42 | - | €7,233 | +€7,233 | |
| Trade debts | 44 | €644 | €660 | +€16 | +2.5% |
| Suppliers | 440/4 | €644 | €660 | +€16 | +2.5% |
| Taxes, remuneration and social security | 45 | €17,729 | €5,673 | -€12,056 | -68.0% |
| Taxes | 450/3 | €17,729 | €5,673 | -€12,056 | -68.0% |
| Other amounts payable | 47/48 | €21,980 | €59,167 | +€37,187 | +169.2% |
| Accrued charges and deferred income | 492/3 | €174 | €135 | -€39 | -22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,953 | €11,169 | +€9,216 | +471.8% |
| Other operating charges | 640/8 | - | €458 | +€458 | |
| Gross operating margin | 9900 | €26,881 | €31,035 | +€4,155 | +15.5% |
| Operating profit (loss) | 9901 | €24,928 | €19,409 | -€5,519 | -22.1% |
| Financial income | 75/76B | €58 | €139 | +€81 | +139.1% |
| Recurring financial income | 75 | €58 | €139 | +€81 | +139.1% |
| Financial charges | 65/66B | €208 | €614 | +€407 | +196.0% |
| Recurring financial charges | 65 | €208 | €614 | +€407 | +196.0% |
| Profit (loss) for the period before taxes | 9903 | €24,778 | €18,933 | -€5,845 | -23.6% |
| Income taxes | 67/77 | €5,623 | €5,715 | +€92 | +1.6% |
| Profit (loss) for the period | 9904 | €19,156 | €13,218 | -€5,937 | -31.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,156 | €13,218 | -€5,937 | -31.0% |
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 8 October 2026 via checked.be.