THE SMILING HEART: 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.
THE SMILING HEART
Largest movements
- Cash +€89,920
up €89,920 (+395%), from €22,742 to €112,662
mainly Net result for the year (+€45,812) and Deferred charges and accrued income (+€27,540)
- Deferred charges and accrued income -€27,540
down €27,540 (-90.7%), from €30,366 to €2,826
- Receivables within one year -€7,274
down €7,274 (-36.1%), from €20,133 to €12,859
- Profit (loss) carried forward +€45,812
up €45,812 (+87.3%), from €52,506 to €98,318
- Tax, wage and social debts +€10,677
up €10,677 (+73.5%), from €14,533 to €25,210
- Accrued charges and deferred income -€1,503
down €1,503 (-40.1%), from €3,750 to €2,247
- Gross operating margin -€8,185
down €8,185 (-12.4%), from €66,178 to €57,993
- Taxes -€1,659
down €1,659 (-12.6%), from €13,127 to €11,467
- Depreciation +€1,086
up €1,086 (+1,246%), from €87 to €1,174
- Financial income +€1,000
new in 2024: €1,000
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €76,470 | €132,101 | +€55,631 | +72.7% |
| Formation expenses | 20 | €3,229 | €2,566 | -€663 | -20.5% |
| Fixed assets | 21/28 | - | €1,189 | +€1,189 | |
| Tangible fixed assets | 22/27 | - | €1,189 | +€1,189 | |
| Furniture and vehicles | 24 | - | €1,189 | +€1,189 | |
| Current assets | 29/58 | €73,241 | €128,347 | +€55,106 | +75.2% |
| Amounts receivable within one year | 40/41 | €20,133 | €12,859 | -€7,274 | -36.1% |
| Other amounts receivable | 41 | €20,133 | €12,859 | -€7,274 | -36.1% |
| Cash at bank and in hand | 54/58 | €22,742 | €112,662 | +€89,920 | +395% |
| Deferred charges and accrued income | 490/1 | €30,366 | €2,826 | -€27,540 | -90.7% |
| Total equity and liabilities | 10/49 | €76,470 | €132,101 | +€55,631 | +72.7% |
| Equity | 10/15 | €57,506 | €103,318 | +€45,812 | +79.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,506 | €98,318 | +€45,812 | +87.3% |
| Amounts payable | 17/49 | €18,964 | €28,783 | +€9,819 | +51.8% |
| Amounts payable within one year | 42/48 | €15,214 | €26,536 | +€11,322 | +74.4% |
| Trade debts | 44 | €681 | €1,326 | +€645 | +94.7% |
| Suppliers | 440/4 | €681 | €1,326 | +€645 | +94.7% |
| Taxes, remuneration and social security | 45 | €14,533 | €25,210 | +€10,677 | +73.5% |
| Taxes | 450/3 | €14,533 | €25,210 | +€10,677 | +73.5% |
| Accrued charges and deferred income | 492/3 | €3,750 | €2,247 | -€1,503 | -40.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87 | €1,174 | +€1,086 | +1,246% |
| Other operating charges | 640/8 | €384 | €450 | +€66 | +17.1% |
| Gross operating margin | 9900 | €66,178 | €57,993 | -€8,185 | -12.4% |
| Operating profit (loss) | 9901 | €65,706 | €56,369 | -€9,337 | -14.2% |
| Financial income | 75/76B | - | €1,000 | +€1,000 | |
| Recurring financial income | 75 | - | €1,000 | +€1,000 | |
| Financial charges | 65/66B | €74 | €90 | +€16 | +21.9% |
| Recurring financial charges | 65 | €74 | €90 | +€16 | +21.9% |
| Profit (loss) for the period before taxes | 9903 | €65,633 | €57,279 | -€8,353 | -12.7% |
| Income taxes | 67/77 | €13,127 | €11,467 | -€1,659 | -12.6% |
| Profit (loss) for the period | 9904 | €52,506 | €45,812 | -€6,694 | -12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,506 | €45,812 | -€6,694 | -12.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.