THAI SMILE: what changed
THAI SMILE
Largest movements
- Receivables within one year -€30,772
down €30,772 (-78.3%), from €39,276 to €8,503
of which Trade receivables: -€32,315
- Tangible fixed assets -€1,068
down €1,068 (-38.5%), from €2,771 to €1,703
of which Plant, machinery and equipment: -€2,384
- Cash +€977
up €977 (+64.7%), from €1,510 to €2,487
mainly Receivables within one year (+€30,772) and Net result for the year (+€9,892)
- Trade debts -€32,389
down €32,389 (-56.2%), from €57,617 to €25,228
- Tax, wage and social debts -€11,676
down €11,676 (-54.8%), from €21,298 to €9,622
of which Remuneration and social security: -€11,258
- Profit (loss) carried forward +€9,892
up €9,892 (+14.1%), from -€69,960 to -€60,069
- Other debts +€3,310
up €3,310 (+13.5%), from €24,552 to €27,863
- Staff costs -€27,126
down €27,126 (-31.9%), from €85,062 to €57,936
- Gross operating margin +€12,471
up €12,471 (+21.2%), from €58,734 to €71,205
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €46,107 | €15,244 | -€30,864 | -66.9% |
| Fixed assets | 21/28 | €5,321 | €4,253 | -€1,068 | -20.1% |
| Tangible fixed assets | 22/27 | €2,771 | €1,703 | -€1,068 | -38.5% |
| Plant, machinery and equipment | 23 | €2,771 | €388 | -€2,384 | -86.0% |
| Furniture and vehicles | 24 | - | €1,316 | +€1,316 | |
| Financial fixed assets | 28 | €2,550 | €2,550 | = | 0.0% |
| Current assets | 29/58 | €40,786 | €10,990 | -€29,795 | -73.1% |
| Amounts receivable within one year | 40/41 | €39,276 | €8,503 | -€30,772 | -78.3% |
| Trade receivables | 40 | €38,927 | €6,612 | -€32,315 | -83.0% |
| Other amounts receivable | 41 | €348 | €1,891 | +€1,543 | +443% |
| Cash at bank and in hand | 54/58 | €1,510 | €2,487 | +€977 | +64.7% |
| Total equity and liabilities | 10/49 | €46,107 | €15,244 | -€30,864 | -66.9% |
| Equity | 10/15 | -€57,360 | -€47,469 | +€9,892 | +17.2% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€69,960 | -€60,069 | +€9,892 | +14.1% |
| Amounts payable | 17/49 | €103,467 | €62,712 | -€40,755 | -39.4% |
| Amounts payable within one year | 42/48 | €103,467 | €62,712 | -€40,755 | -39.4% |
| Trade debts | 44 | €57,617 | €25,228 | -€32,389 | -56.2% |
| Suppliers | 440/4 | €57,617 | €25,228 | -€32,389 | -56.2% |
| Taxes, remuneration and social security | 45 | €21,298 | €9,622 | -€11,676 | -54.8% |
| Taxes | 450/3 | €9,249 | €8,831 | -€418 | -4.5% |
| Remuneration and social security | 454/9 | €12,049 | €790 | -€11,258 | -93.4% |
| Other amounts payable | 47/48 | €24,552 | €27,863 | +€3,310 | +13.5% |
| Remuneration, social security and pensions | 62 | €85,062 | €57,936 | -€27,126 | -31.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,061 | €2,556 | +€495 | +24.0% |
| Other operating charges | 640/8 | €654 | €721 | +€67 | +10.2% |
| Gross operating margin | 9900 | €58,734 | €71,205 | +€12,471 | +21.2% |
| Operating profit (loss) | 9901 | -€29,043 | €9,992 | +€39,035 | |
| Financial charges | 65/66B | €77 | €100 | +€23 | +30.7% |
| Recurring financial charges | 65 | €77 | €100 | +€23 | +30.7% |
| Profit (loss) for the period before taxes | 9903 | -€29,120 | €9,892 | +€39,012 | |
| Profit (loss) for the period | 9904 | -€29,120 | €9,892 | +€39,012 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,120 | €9,892 | +€39,012 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.