WH Smith Belgium: 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.
WH Smith Belgium
Largest movements
- Receivables within one year +€337,427
up €337,427 (+21.1%), from €1.6m to €1.9m
of which Other amounts receivable: +€234,097
- Tangible fixed assets -€188,750
down €188,750 (-10.6%), from €1.8m to €1.6m
of which Other tangible fixed assets: -€128,922
- Intangible fixed assets -€132,712
down €132,712 (-62.4%), from €212,584 to €79,872
- Cash -€51,625
down €51,625 (-30.7%), from €168,390 to €116,765
mainly Net result for the year (-€1.5m) and Receivables within one year (-€337,427)
- Profit (loss) carried forward -€1.5m
down €1.5m (-57.4%), from -€2.6m to -€4.2m
- Other debts +€1.1m
up €1.1m (+20.5%), from €5.5m to €6.7m
- Accrued charges and deferred income +€277,669
up €277,669 (+111%), from €250,840 to €528,509
- Trade debts +€48,332
up €48,332 (+4.6%), from €1.0m to €1.1m
- Turnover +€15.9m
new in 2025: €15.9m
- Goods and materials +€8.1m
new in 2025: €8.1m
of which Purchases: +€8.1m
- Services and other goods +€5.5m
new in 2025: €5.5m
- Gross operating margin -€2.1m
no longer reported in 2025 (was €2.1m)
- Staff costs +€387,231
up €387,231 (+17.2%), from €2.2m to €2.6m
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 | €4,532,271 | €4,477,142 | -€55,129 | -1.2% |
| Fixed assets | 21/28 | €1,986,343 | €1,664,881 | -€321,463 | -16.2% |
| Intangible fixed assets | 21 | €212,584 | €79,872 | -€132,712 | -62.4% |
| Tangible fixed assets | 22/27 | €1,773,759 | €1,585,009 | -€188,750 | -10.6% |
| Plant, machinery and equipment | 23 | €18,049 | €24,974 | +€6,925 | +38.4% |
| Furniture and vehicles | 24 | €309,092 | €240,554 | -€68,538 | -22.2% |
| Other tangible fixed assets | 26 | €1,446,618 | €1,317,696 | -€128,922 | -8.9% |
| Assets under construction and advance payments | 27 | - | €1,784 | +€1,784 | |
| Current assets | 29/58 | €2,545,928 | €2,812,262 | +€266,334 | +10.5% |
| Stocks and contracts in progress | 3 | €777,971 | €758,503 | -€19,469 | -2.5% |
| Stocks | 30/36 | €777,971 | €758,503 | -€19,469 | -2.5% |
| Goods purchased for resale | 34 | - | €758,503 | +€758,503 | |
| Amounts receivable within one year | 40/41 | €1,599,566 | €1,936,994 | +€337,427 | +21.1% |
| Trade receivables | 40 | €935,483 | €1,038,812 | +€103,330 | +11.0% |
| Other amounts receivable | 41 | €664,084 | €898,181 | +€234,097 | +35.3% |
| Cash at bank and in hand | 54/58 | €168,390 | €116,765 | -€51,625 | -30.7% |
| Total equity and liabilities | 10/49 | €4,532,271 | €4,477,142 | -€55,129 | -1.2% |
| Equity | 10/15 | -€2,636,313 | -€4,149,115 | -€1.5m | -57.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,637,313 | -€4,150,115 | -€1.5m | -57.4% |
| Amounts payable | 17/49 | €7,168,584 | €8,626,258 | +€1.5m | +20.3% |
| Amounts payable within one year | 42/48 | €6,917,745 | €8,097,749 | +€1.2m | +17.1% |
| Trade debts | 44 | €1,042,608 | €1,090,941 | +€48,332 | +4.6% |
| Suppliers | 440/4 | €1,042,608 | €1,090,941 | +€48,332 | +4.6% |
| Taxes, remuneration and social security | 45 | €336,736 | €333,090 | -€3,646 | -1.1% |
| Taxes | 450/3 | €1,091 | €0 | -€1,091 | -100% |
| Remuneration and social security | 454/9 | €335,645 | €333,090 | -€2,555 | -0.8% |
| Other amounts payable | 47/48 | €5,538,401 | €6,673,719 | +€1.1m | +20.5% |
| Accrued charges and deferred income | 492/3 | €250,840 | €528,509 | +€277,669 | +111% |
| Operating income | 70/76A | - | €15,888,290 | +€15.9m | |
| Turnover | 70 | - | €15,888,290 | +€15.9m | |
| Other operating income | 74 | - | €0 | = | |
| Operating charges | 60/66A | - | €16,983,353 | +€17.0m | |
| Goods for resale, raw materials and consumables | 60 | - | €8,103,211 | +€8.1m | |
| Purchases | 600/8 | - | €8,083,743 | +€8.1m | |
| Change in stocks: decrease (increase) | 609 | - | €19,469 | +€19,469 | |
| Services and other goods | 61 | - | €5,540,968 | +€5.5m | |
| Remuneration, social security and pensions | 62 | €2,248,046 | €2,635,277 | +€387,231 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €595,414 | €632,661 | +€37,246 | +6.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €33,266 | €27,967 | -€5,299 | -15.9% |
| Other operating charges | 640/8 | €41,829 | €43,268 | +€1,439 | +3.4% |
| Gross operating margin | 9900 | €2,077,893 | - | -€2.1m | |
| Operating profit (loss) | 9901 | -€840,662 | -€1,095,064 | -€254,401 | -30.3% |
| Financial income | 75/76B | €8,268 | €2,563 | -€5,705 | -69.0% |
| Recurring financial income | 75 | €8,268 | €2,563 | -€5,705 | -69.0% |
| Other financial income | 752/9 | - | €2,563 | +€2,563 | |
| Financial charges | 65/66B | €448,063 | €418,591 | -€29,472 | -6.6% |
| Recurring financial charges | 65 | €448,063 | €418,591 | -€29,472 | -6.6% |
| Other financial charges | 652/9 | - | €418,591 | +€418,591 | |
| Profit (loss) for the period before taxes | 9903 | -€1,280,458 | -€1,511,092 | -€230,634 | -18.0% |
| Income taxes | 67/77 | €1,091 | €1,711 | +€620 | +56.8% |
| Taxes | 670/3 | - | €1,711 | +€1,711 | |
| Profit (loss) for the period | 9904 | -€1,281,548 | -€1,512,802 | -€231,254 | -18.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,281,548 | -€1,512,802 | -€231,254 | -18.0% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.