Summary
SMARTronics is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €127,338 and a net result of €22,070. Equity is growing by about 20% per year across the filed financial years. Its solvency ranks better than 55% of 9,725 sector peers (NACE 64, financial year 2025). The company has been active since 2017 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
Equity
€127,338▲ 21.0%
2024 · €105,269
Net result
€22,070▼ 40.7%
2024 · €37,209
Total assets
€223,247▼ 4.9%
2024 · €234,654
Solvency
57.0%▲ 12.2pp
2024 · 44.9%
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result falls in 2025; 2025 is 36% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€32,297
2025
Net result€22,070
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€223,247
2025
Equity€127,338
2025
Debt€95,909
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€14,748
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)9.9%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency57.0%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.24
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€11,067-€26,752▲ 142%€27,439▲ 2.6%€28,439▲ 3.6%€20,867▼ 26.6%€50,396▲ 142%€32,297▼ 35.9%
Net result€5,328-€20,229within the sector's middle half▲ 280%€18,866within the sector's middle half▼ 6.7%€19,261within the sector's middle half▲ 2.1%€13,648within the sector's middle half▼ 29.1%€37,209within the sector's middle half▲ 173%€22,070within the sector's middle half▼ 40.7%
Equity€23,655-€43,884within the sector's middle half▲ 85.5%€62,750within the sector's middle half▲ 43.0%€82,011within the sector's middle half▲ 30.7%€95,659within the sector's middle half▲ 16.6%€105,269within the sector's middle half▲ 10.0%€127,338within the sector's middle half▲ 21.0%
Total assets€64,235-€144,049within the sector's middle half▲ 124%€170,980within the sector's middle half▲ 18.7%€234,435within the sector's middle half▲ 37.1%€228,869within the sector's middle half▼ 2.4%€234,654within the sector's middle half▲ 2.5%€223,247within the sector's middle half▼ 4.9%
Debt€40,580-€100,165▲ 147%€108,230▲ 8.1%€152,424▲ 40.8%€133,210▼ 12.6%€129,386▼ 2.9%€95,909▼ 25.9%
Working capital-€2,678--€4,262within the sector's middle half▼ 59.1%€134within the sector's middle half-€10,169within the sector's middle half-€8,479within the sector's middle half▲ 16.6%-€11,690within the sector's middle half▼ 37.9%€14,748within the sector's middle half
Solvency36.8%-30.5%within the sector's middle half▼ 6.4pp36.7%within the sector's middle half▲ 6.2pp35.0%within the sector's middle half▼ 1.7pp41.8%within the sector's middle half▲ 6.8pp44.9%within the sector's middle half▲ 3.1pp57.0%within the sector's middle half▲ 12.2pp
Current ratio0.91-0.91within the sector's middle half=1.00within the sector's middle half▲ 0.090.87within the sector's middle half▼ 0.130.90within the sector's middle half▲ 0.030.82within the sector's middle half▼ 0.081.24within the sector's middle half▲ 0.42
Return on assets (ROA)8.3%-14.0%within the sector's middle half▲ 5.7pp11.0%within the sector's middle half▼ 3.0pp8.2%within the sector's middle half▼ 2.8pp6.0%within the sector's middle half▼ 2.3pp15.9%within the sector's middle half▲ 9.9pp9.9%within the sector's middle half▼ 6.0pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €223,247
Fixed assets
€146,272 ▼ 19.4%
Current assets
€76,975 ▲ 44.6%
Equity and liabilities €223,247
Equity
€127,338 ▲ 21.0%
Debt
€95,909 ▼ 25.9%
Debt's share of the balance-sheet total falls from 55.1% to 43.0%. Equity is higher and debt is lower.
Key figures and ratios
ROE
17.3%▼
2024 · 35.3%
Debt ≤ 1 year
€62,227▼
2024 · €64,912
Debt > 1 year
€33,665▼
2024 · €64,474
Income taxes
€6,911▼
2024 · €9,543
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,596 | €17,710 | €16,617 | €24,616 | €28,281 | €36,081 | €41,042 | ▲ 13.8% |
| Other operating charges640/8 | - | - | €306 | €860 | €3,378 | €1,955 | €1,911 | ▼ 2.3% |
| Gross operating margin9900 | €26,530 | €45,812 | €44,362 | €53,915 | €52,526 | €88,431 | €75,250 | ▼ 14.9% |
| Operating profit (loss)9901 | €11,067 | €26,752 | €27,439 | €28,439 | €20,867 | €50,396 | €32,297 | ▼ 35.9% |
| Financial income75/76B | - | - | €3 | €5 | €1 | €8 | €13 | ▲ 60.4% |
| Recurring financial income75 | €0 | €133 | €3 | €5 | €1 | €8 | €13 | ▲ 60.4% |
| Financial charges65/66B | - | - | €2,470 | €2,668 | €2,441 | €3,651 | €3,329 | ▼ 8.8% |
| Recurring financial charges65 | €1,801 | €2,591 | €2,470 | €2,668 | €2,441 | €3,651 | €3,329 | ▼ 8.8% |
| Profit (loss) for the period before taxes9903 | €9,266 | €24,294 | €24,973 | €25,775 | €18,426 | €46,752 | €28,981 | ▼ 38.0% |
| Income taxes67/77 | €3,938 | €4,065 | €6,107 | €6,514 | €4,778 | €9,543 | €6,911 | ▼ 27.6% |
| Profit (loss) for the period9904 | €5,328 | €20,229 | €18,866 | €19,261 | €13,648 | €37,209 | €22,070 | ▼ 40.7% |
| Profit (loss) for the period to be appropriated9905 | €5,328 | €20,229 | €18,866 | €19,261 | €13,648 | €37,209 | €22,070 | ▼ 40.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €64,235 | €144,049 | €170,980 | €234,435 | €228,869 | €234,654 | €223,247 | ▼ 4.9% |
| Fixed assets21/28 | €36,752 | €101,685 | €117,832 | €163,575 | €148,679 | €181,432 | €146,272 | ▼ 19.4% |
| Tangible fixed assets22/27 | €36,702 | €101,685 | €117,832 | €163,575 | €148,679 | €181,432 | €146,272 | ▼ 19.4% |
| Plant, machinery and equipment23 | - | - | €2,006 | €477 | €1,386 | €1,076 | €6,444 | ▲ 499% |
| Furniture and vehicles24 | - | - | €5,323 | €15,408 | €13,536 | €7,491 | €4,573 | ▼ 38.9% |
| Leasing and similar rights25 | - | - | - | €47,504 | €35,628 | €86,073 | €59,797 | ▼ 30.5% |
| Other tangible fixed assets26 | - | - | €110,503 | €100,187 | €98,128 | €86,793 | €75,458 | ▼ 13.1% |
| Financial fixed assets28 | €50 | - | - | - | - | - | - | - |
| Current assets29/58 | €27,483 | €42,364 | €53,148 | €70,860 | €80,191 | €53,222 | €76,975 | ▲ 44.6% |
| Stocks and contracts in progress3 | €1,000 | €1,000 | €1,587 | €1,207 | €1,102 | €3,267 | €2,359 | ▼ 27.8% |
| Stocks30/36 | - | - | €1,587 | €1,207 | €1,102 | €3,267 | €2,359 | ▼ 27.8% |
| Amounts receivable within one year40/41 | €2,661 | €22,347 | €30,014 | €43,051 | €68,789 | €32,954 | €33,237 | ▲ 0.9% |
| Trade receivables40 | - | - | €30,014 | €42,703 | €59,438 | €29,723 | €24,533 | ▼ 17.5% |
| Other amounts receivable41 | - | - | - | €348 | €9,351 | €3,231 | €8,704 | ▲ 169% |
| Cash at bank and in hand54/58 | €22,189 | €18,075 | €19,002 | €24,971 | €7,291 | €11,368 | €34,626 | ▲ 205% |
| Deferred charges and accrued income490/1 | - | - | €2,544 | €1,631 | €3,009 | €5,632 | €6,753 | ▲ 19.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €64,235 | €144,049 | €170,980 | €234,435 | €228,869 | €234,654 | €223,247 | ▼ 4.9% |
| Equity10/15 | €23,655 | €43,884 | €62,750 | €82,011 | €95,659 | €105,269 | €127,338 | ▲ 21.0% |
| Contributions10/11 | €6,200 | - | €6,200 | €6,200 | €6,200 | €11,676 | €11,676 | = |
| Reserves13 | €17,455 | €37,684 | €56,550 | €75,811 | €89,459 | €93,593 | €115,662 | ▲ 23.6% |
| Non-distributable reserves130/1 | - | - | €606 | €606 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | €606 | €606 | €0 | - | - | - |
| Distributable reserves133 | - | - | €55,944 | €75,205 | €89,459 | €93,593 | €115,662 | ▲ 23.6% |
| Profit (loss) carried forward14 | - | €11,521 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €40,580 | €100,165 | €108,230 | €152,424 | €133,210 | €129,386 | €95,909 | ▼ 25.9% |
| Amounts payable after more than one year17 | €7,344 | €53,539 | €55,216 | €71,389 | €44,172 | €64,474 | €33,665 | ▼ 47.8% |
| Financial debts170/4 | - | - | €55,216 | €71,389 | €44,172 | €64,474 | €33,665 | ▼ 47.8% |
| Amounts payable within one year42/48 | €30,161 | €46,626 | €53,014 | €81,029 | €88,669 | €64,912 | €62,227 | ▼ 4.1% |
| Current portion of amounts payable after more than one year42 | - | - | €17,499 | €29,041 | €32,673 | €35,408 | €30,809 | ▼ 13.0% |
| Financial debts43 | - | - | - | - | - | €25 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | - | - | €25 | €0 | ▼ 100% |
| Trade debts44 | €11,467 | €10,133 | €16,556 | €33,209 | €42,787 | €15,511 | €12,380 | ▼ 20.2% |
| Suppliers440/4 | - | - | €16,556 | €33,209 | €42,787 | €15,511 | €12,380 | ▼ 20.2% |
| Taxes, remuneration and social security45 | - | - | €12,959 | €17,807 | €13,009 | €9,806 | €19,037 | ▲ 94.1% |
| Taxes450/3 | - | - | €12,959 | €17,807 | €13,009 | €9,806 | €19,037 | ▲ 94.1% |
| Other amounts payable47/48 | - | - | €5,999 | €971 | €200 | €4,162 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | €6 | €369 | €0 | €17 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,328 | €20,229 | €18,866 | €19,261 | €13,648 | €37,209 | €22,070 | ▼ 40.7% |
| + Depreciation and write-downs630 | €13,596 | €17,710 | €16,617 | €24,616 | €28,281 | €36,081 | €41,042 | ▲ 13.8% |
| Operating cash flow (approximation) | €18,924 | €37,939 | €35,483 | €43,877 | €41,929 | €73,290 | €63,112 | ▼ 13.9% |
| Investment in fixed assets (approximation) | - | -€82,643 | -€32,765 | -€70,359 | -€13,384 | -€68,834 | -€5,882 | ▲ 91.5% |
| Change in cash | - | -€4,114 | €927 | €5,969 | -€17,680 | €4,077 | €23,258 | ▲ 470% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-09-2025 | micro format | 10-03-2026 | 2026-00051251 |
| 30-09-2024 | micro format | 27-03-2025 | 2025-00057317 |
| 30-09-2023 | micro format | 20-03-2024 | 2024-00049391 |
| 30-09-2022 | micro format | 27-03-2023 | 2023-00049215 |
| 30-09-2021 | micro format | 14-04-2022 | 2022-20005160 |
| 30-09-2020 | micro format | 31-03-2021 | 2021-09600324 |
| 30-09-2019 | micro format | 17-03-2020 | 2020-06900210 |
| 30-09-2018 | micro format | 07-03-2019 | 2019-06600089 |
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Subsidies and aid
Flemish government
2022 · 1 entry · €510 awarded · €510 paidPublic contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.