U-SMILE: 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.
What changed
U-SMILE
NACE 46.180, Agents specialised in the wholesale of other particular products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€44,962
2024 · -€54,095+€9,133
Equity
€1.7m
2024 · €1.7m+€3,530
Cash
€716,468
2024 · €673,521+€42,946
Balance sheet total
€3.0m
2024 · €3.2m-€255,399
Largest movements
Assets
- Receivables within one year -€198,596
down €198,596 (-14.8%), from €1.3m to €1.1m
of which Trade receivables: -€103,226
- Intangible fixed assets -€170,067
down €170,067 (-39.1%), from €435,407 to €265,340
- Financial fixed assets +€111,919
up €111,919 (+34.4%), from €325,753 to €437,672
of which Affiliated companies: +€94,425
- Cash +€42,946
up €42,946 (+6.4%), from €673,521 to €716,468
mainly Depreciation (+€259,299) and Receivables within one year (+€198,596)
Equity and liabilities
- Tax, wage and social debts -€274,457
down €274,457 (-73.9%), from €371,367 to €96,910
of which Taxes: -€256,865
- Trade debts +€138,377
up €138,377 (+19.8%), from €697,224 to €835,601
- Debts after one year -€102,083
down €102,083 (-58.3%), from €175,000 to €72,917
Income statement
- Turnover -€2.0m
down €2.0m (-18.2%), from €10.7m to €8.8m
- Services and other goods -€1.6m
down €1.6m (-17.2%), from €9.4m to €7.8m
- Other operating charges -€302,764
down €302,764 (-38.6%), from €783,749 to €480,985
- Other operating income -€259,188
down €259,188 (-52.8%), from €490,507 to €231,319
- Staff costs -€182,164
down €182,164 (-28.2%), from €644,985 to €462,821
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.
Result 2024
-€54,095
Turnover
-€2.0m
Other operating income
-€259,188
Services and other goods
+€1.6m
Staff costs
+€182,164
Depreciation
-€8,099
Write-downs
+€26,726
Other operating charges
+€302,764
Financial income
-€5,450
Financial charges
-€12,967
Taxes
+€112,421
Result 2025
-€44,962
raises the resultlowers the result
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.
From operations
+€273,016
Investment
-€183,101
Financing
-€46,968
Cash 2024
€673,521
From operations (derived)
+€273,016
Net result for the year
-€44,962
Depreciation
+€259,299
Receivables within one year
+€198,596
Deferred charges and accrued income
+€23,553
Trade debts
+€138,377
Tax, wage and social debts
-€274,457
Other debts
-€12,460
Accrued charges and deferred income
-€14,929
Investment (derived)
-€183,101
Investment in fixed assets (net)
-€183,101
Financing
-€46,968
Debts after one year
-€102,083
Short-term financial debts
+€6,623
Contributions, distributions and other
+€48,492
Cash 2025
€716,468
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,213,128 | €2,957,728 | -€255,399 | -7.9% |
| Fixed assets | 21/28 | €985,724 | €909,527 | -€76,197 | -7.7% |
| Intangible fixed assets | 21 | €435,407 | €265,340 | -€170,067 | -39.1% |
| Tangible fixed assets | 22/27 | €224,565 | €206,515 | -€18,049 | -8.0% |
| Plant, machinery and equipment | 23 | €8,919 | €2,312 | -€6,606 | -74.1% |
| Furniture and vehicles | 24 | €37,829 | €24,464 | -€13,365 | -35.3% |
| Other tangible fixed assets | 26 | €177,817 | €155,989 | -€21,828 | -12.3% |
| Assets under construction and advance payments | 27 | - | €23,750 | +€23,750 | |
| Financial fixed assets | 28 | €325,753 | €437,672 | +€111,919 | +34.4% |
| Affiliated companies | 280/1 | €5,575 | €100,000 | +€94,425 | +1,694% |
| Participating interests | 280 | €5,575 | €100,000 | +€94,425 | +1,694% |
| Companies linked by participating interests | 282/3 | €306,558 | €324,312 | +€17,754 | +5.8% |
| Amounts receivable | 283 | €306,558 | €324,312 | +€17,754 | +5.8% |
| Other financial fixed assets | 284/8 | €13,620 | €13,360 | -€260 | -1.9% |
| Amounts receivable and cash guarantees | 285/8 | €13,620 | €13,360 | -€260 | -1.9% |
| Current assets | 29/58 | €2,227,403 | €2,048,202 | -€179,202 | -8.0% |
| Amounts receivable within one year | 40/41 | €1,338,603 | €1,140,007 | -€198,596 | -14.8% |
| Trade receivables | 40 | €1,233,378 | €1,130,153 | -€103,226 | -8.4% |
| Other amounts receivable | 41 | €105,225 | €9,854 | -€95,370 | -90.6% |
| Current investments | 50/53 | €176,786 | €176,786 | = | 0.0% |
| Own shares | 50 | €176,786 | €176,786 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €673,521 | €716,468 | +€42,946 | +6.4% |
| Deferred charges and accrued income | 490/1 | €38,494 | €14,941 | -€23,553 | -61.2% |
| Total equity and liabilities | 10/49 | €3,213,128 | €2,957,728 | -€255,399 | -7.9% |
| Equity | 10/15 | €1,663,358 | €1,666,888 | +€3,530 | +0.2% |
| Contributions | 10/11 | €62,496 | €62,496 | = | 0.0% |
| Capital | 10 | €62,496 | €62,496 | = | 0.0% |
| Issued capital | 100 | €62,496 | €62,496 | = | 0.0% |
| Reserves | 13 | €477,735 | €477,735 | = | 0.0% |
| Non-distributable reserves | 130/1 | €183,035 | €183,035 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Own shares acquired | 1312 | €176,786 | €176,786 | = | 0.0% |
| Distributable reserves | 133 | €294,700 | €294,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,123,126 | €1,126,657 | +€3,530 | +0.3% |
| Amounts payable | 17/49 | €1,549,770 | €1,290,841 | -€258,930 | -16.7% |
| Amounts payable after more than one year | 17 | €175,000 | €72,917 | -€102,083 | -58.3% |
| Financial debts | 170/4 | €175,000 | €72,917 | -€102,083 | -58.3% |
| Credit institutions | 173 | €175,000 | €72,917 | -€102,083 | -58.3% |
| Amounts payable within one year | 42/48 | €1,359,842 | €1,217,924 | -€141,918 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €175,000 | €175,000 | = | 0.0% |
| Financial debts | 43 | - | €6,623 | +€6,623 | |
| Credit institutions | 430/8 | - | €6,623 | +€6,623 | |
| Trade debts | 44 | €697,224 | €835,601 | +€138,377 | +19.8% |
| Suppliers | 440/4 | €697,224 | €835,601 | +€138,377 | +19.8% |
| Taxes, remuneration and social security | 45 | €371,367 | €96,910 | -€274,457 | -73.9% |
| Taxes | 450/3 | €303,154 | €46,289 | -€256,865 | -84.7% |
| Remuneration and social security | 454/9 | €68,213 | €50,620 | -€17,592 | -25.8% |
| Other amounts payable | 47/48 | €116,250 | €103,791 | -€12,460 | -10.7% |
| Accrued charges and deferred income | 492/3 | €14,929 | - | -€14,929 | |
| Operating income | 70/76A | €11,231,512 | €9,016,447 | -€2.2m | -19.7% |
| Turnover | 70 | €10,741,004 | €8,785,128 | -€2.0m | -18.2% |
| Other operating income | 74 | €490,507 | €231,319 | -€259,188 | -52.8% |
| Operating charges | 60/66A | €11,144,886 | €9,014,693 | -€2.1m | -19.1% |
| Services and other goods | 61 | €9,438,226 | €7,811,588 | -€1.6m | -17.2% |
| Remuneration, social security and pensions | 62 | €644,985 | €462,821 | -€182,164 | -28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €251,199 | €259,299 | +€8,099 | +3.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €26,726 | - | -€26,726 | |
| Other operating charges | 640/8 | €783,749 | €480,985 | -€302,764 | -38.6% |
| Operating profit (loss) | 9901 | €86,626 | €1,754 | -€84,872 | -98.0% |
| Financial income | 75/76B | €12,689 | €7,239 | -€5,450 | -42.9% |
| Recurring financial income | 75 | €12,689 | €7,239 | -€5,450 | -42.9% |
| Income from financial fixed assets | 750 | €343 | €669 | +€326 | +95.1% |
| Other financial income | 752/9 | €12,346 | €6,571 | -€5,776 | -46.8% |
| Financial charges | 65/66B | €7,132 | €20,099 | +€12,967 | +182% |
| Recurring financial charges | 65 | €7,132 | €20,099 | +€12,967 | +182% |
| Debt charges | 650 | €6,591 | €16,311 | +€9,720 | +147% |
| Other financial charges | 652/9 | €541 | €3,788 | +€3,247 | +600% |
| Profit (loss) for the period before taxes | 9903 | €92,183 | -€11,106 | -€103,289 | |
| Income taxes | 67/77 | €146,278 | €33,856 | -€112,421 | -76.9% |
| Taxes | 670/3 | €146,278 | €33,856 | -€112,421 | -76.9% |
| Profit (loss) for the period | 9904 | -€54,095 | -€44,962 | +€9,133 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,095 | -€44,962 | +€9,133 | +16.9% |
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 25 October 2026 via checked.be.